UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

[ ]

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended

December 31, 2019

~~December 31, 2018~~

[X]

TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from

Commission file number

000-54948

~~000-54948~~

WEST COAST VENTURES GROUP CORP.

(Exact name of registrant as specified in its charter)

Nevada

99-0377575

~~99-0377575~~

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

~~(I.R.S. Employer Identification No.)~~

15400 W. 64th Avenue, Unit E1A, Arvada, Colorado

80007

6610 Holman Street, Suite 301 Arvada, Colorado

80004

(Address of principal executive offices)

(Zip Code)

~~(Zip Code)~~

Registrant’s telephone number, including area code:

(303) 423-1300

~~(303) 423-1300~~

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Name of Each Exchange On Which Registered

~~Name of Each Exchange On Which Registered~~

N/A

~~N/A~~

Securities registered pursuant to Section 12(g) of the Act:

Common Stock, $0.001 par value

(Title of class)

Preferred Stock, $0.001 par value

(Title of class)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 the Securities Act.

Yes [ ] No [X]

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act

Yes [ ] No [X]

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 the registrant was required to file such reports) and (2) has been subject to such filing requirements for the last 90 days.

Yes [X] No [ ]

~~Yes [X] No [ ]~~

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-K (§229.405 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 [X]

Yes [X] No [ ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.

[ ]

~~[ ]~~

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

Large accelerated filer

[ ]

Accelerated filer

~~Accelerated filer~~

[ ]

~~[ ]~~

Non-accelerated filer

[ ]

(Do not check if a smaller reporting company)

~~(Do not check if a smaller reporting company)~~

Smaller reporting company

~~Smaller reporting company~~

[X]

~~[X]~~

Emerging Growth Company

~~Emerging Growth Company~~

[X]

~~[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 in Rule 12b-2 of the Exchange Act).

Yes [ ] No [X]

~~Yes [ ] No [X]~~

The aggregate market value of Common Stock held by non-affiliates of the Registrant on June 30, 2018, was $1,501,304_ based on a $0.055 average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed fiscal quarter.

Aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of June 29, 2019: $309,552. The number of shares of registrant’s common stock outstanding as of June 29, 2020 was 3,109,519,939.

Indicate the number of shares outstanding of each of the registrant’s classes of common stock as of the latest practicable date.

April 15, 2019 - 41,050,532 shares

DOCUMENTS INCORPORATED BY REFERENCE

None.

2WEST COAST VENTURES GROUP CORP.

FORM 10-K

YEAR ENDED 31 DECEMBER 2019

TABLE OF CONTENTS


Part I	2

Item 1. Busi ness	2

Item 1A. Risk Factors	5

Item 1B. Unresolved Staff Comments	6

Item 2. Properties	6

Item 3. Legal Proceedings	7

Item 4. Mine Safety Disclosures	7

Part II	8

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	8

Item 6. Selected Financial Data	11

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations	11

Item 7A. Quantitative and Qualitative Disclosures About Market Risk	14

Item 8. Consolidated Financia l Statements and Supplementary Data	15

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	16

Item 9A. Controls and Procedures	16

Item 9B. Other Information	16

Part III	17

Item 10. Directors, Executive Officers, and Corporate Governance	17

Item 11. Executive Compens ation	19

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	20

Item 13. Certain Relationships and Related Transactions, and Director Independence	21

Item 14. Principal Accounting Fees and Services	21

Pa rt IV	22

Item 15. Exhibits, Financial State ment Schedules	22

Signat ures	23

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Except for historical information, this Annual Report contains forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements are based on management’s current expectations, assumptions, and beliefs concerning future developments and their potential effect on our business, and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. We have attempted to identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” “will,” “would”, “if, “shall”, “might”, “will likely result, “projects”, “goal”, “objective”, or “continues”, or the negative of these terms or other comparable terminology, although the absence of these words does not necessarily mean that a statement is not forward-looking. Additionally, statements concerning future matters such as our business strategy, development of new products, sales levels, expense levels, cash flows, future commercial and financing matters, future partnering opportunities and other statements regarding matters that are not historical are forward-looking statements.

Although the forward-looking statements in this Annual Report reflect our good faith judgment, based on currently available information, they involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including those described in the section titled “Risk Factors.” Moreover, we operate in a very competitive and rapidly-changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this Annual Report may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, except as required by law, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. We undertake no obligation to update publicly any forward-looking statements for any reason after the date of this Annual Report to conform these statements to actual results or to changes in our expectations. You should, however, review the factors and risks we describe in the reports we will file from time to time with the SEC after the date we file this Annual Report. Readers are urged to carefully review and consider the various disclosures made in this Annual Report.

CERTAIN REFERENCES AND NAMES OF OTHERS USED HEREIN

This Annual Report may contain additional trade names, trademarks, and service marks of others, which are the property of their respective owners. We do not intend our use or display of other companies’ trade names, trademarks, or service marks to imply a relationship with, or endorsement or sponsorship of us by, these other companies.

PART I

We are filing this annual report on Form 10-K (the “Annual Report”) with the SEC after the filing deadline applicable to us for in reliance on the 45-day extension provided by an order issued by the SEC under Section 36 of the Securities Exchange Act of 1934 Modifying Exemptions From the Reporting and Proxy Delivery Requirements for Public Companies, dated March 25, 2020 (Release No. 34-88465) (the “Order”), due to the circumstances related to COVID-19.

On March 30, 2020, we filed Current Report on Form 8-K with the SEC to indicate our intention to rely on the Order for the extension of the filing of this Annual Report. Consistent with our statements made in the Form 8-K filings, we were unable to file the Annual Report until the date hereof because of the disruptions in our normal interactions with our auditors caused by COVID-19, and the limited access to the Company’s facilities resulting in limited support from our staff and other professional advisors due to the COVID-19 pandemic. The Company has a small accounting staff and historically we provided our auditors with full access to work papers and related information. Because the audit personnel were working remotely as much as possible as were our accounting personnel, this slowed everyone’s workflow and the Company’s ability to complete its audit and file this Annual Report prior to its due date. Government-enforced “shelter in place” orders imposed mandatory and voluntary self-quarantine actions. Our headquarters and most of our management and financial, accounting and legal personnel, as well as certain of our professional advisors, were in areas impacted by these government orders. The disruptions in staffing, communications and access to personnel resulted in delays, limited support and insufficient time to complete our audit of our financial statements and internal control assessment and to complete our financial reporting process and prepare this Annual Report.

Item 1. Business.

West Coast Ventures Group Corp. (“WCVC”, the “Company”, “our”, “us” or “we”) was originally incorporated as Energizer Tennis Corp. on June 16, 2011 in the state of Nevada. WCVC entered into a reverse acquisition transaction whereby WCVC acquired Nixon Restaurant Group, Inc. (“NRG”) on October 4, 2017, which was effective January 1, 2017 for accounting purposes.

On February 14, 2019 the Company filed an amendment to its articles of incorporation to increase the total number authorized shares of the Company’s common stock, par value $0.001 per share, to 650,000,000 shares.

On September 9, 2019 the Company filed an amendment to its articles of incorporation to increase the total number authorized shares of the Company’s common stock, par value $0.001 per share, to 2,000,000,000 shares.

On October 29, 2019 the Company filed an amendment to its articles of incorporation to increase the total number authorized shares of the Company’s common stock, par value $0.001 per share, to 10,000,000,000 shares.

On around February 18, 2020, the Company (through an affirmative vote of the Company’s Board of Directors and the holders of a majority of the shares of the Company entitled to vote) adopted a plan to effect a reverse stock split in the ratio of 1:1,000. This reverse spit will be instituted upon approval by the Financial Industry Regulatory Agency, (FINRA).

NRG was formed on October 12, 2015 in the state of Florida. On October 19, 2015, NRG acquired 100% ownership in J&F Restaurants, LLC, Illegal Burger, LLC, and Illegal Burger Writer Square LLC, all Colorado limited liability companies under common ownership (the “Acquired Entities”), in exchange for 20 million shares of NRG. The Acquired Entities accounted for the transaction as a corporate reorganization. Illegal Burger restaurants have a full menu offering unique burgers that are made with never-frozen, hormone free beef, traditional sides like french fries and tater tots, and alcoholic beverages, including liquor.

Since WCVC acquired the ~~Acquired Entities~~NRG, it has been operating six restaurants in the greater Denver, Colorado metro area: (1) El Senor Sol, a Mexican cuisine restaurant in located in Evergreen, Colorado, which has been operating in excess of five years; (2) Illegal Burger, which opened in August 2013 and is located beside the El Senor Sol restaurant in Evergreen, Colorado; (3) Illegal Burger, located in Arvada, Colorado, which opened in April 2014; (4) Illegal Burger, located in downtown Denver, Colorado, which opened in January 2016, (5) Illegal Burger, located in the Capital Hill Neighborhood of Denver, Colorado, which opened in June 2016 and Illegal Burger, located in Glendale, Colorado which opened in October 2018. The Company plans to continue opening Illegal Burger restaurants throughout the Denver metro area and expects to expand operations to other areas of the United States.

The Company’s executive (or corporate) offices are located at 15400 W. 64th Avenue, Unit E1A, Arvada, Colorado 80007. Our telephone number is 303-423-1300 and our website is www.westcoastventuresgroupcorp.com.2

~~Cautionary~~El ~~note~~Senor ~~regarding~~Sol, ~~forward~~a Mexican cuisine restaurant in located in Evergreen, Colorado, which has been operating in excess of five years; (2) Illegal Burger, which opened in August 2013 and is located beside the El Senor Sol restaurant in Evergreen, Colorado; (3) Illegal Burger, located in Arvada, Colorado, which opened in April 2014; (4) Illegal Burger, located in downtown Denver, Colorado, which opened in January 2016, (5) Illegal Burger, located in the Capital Hill Neighborhood of Denver, Colorado, which opened in June 2016, and (6) Illegal Burger, located in Glendale, Colorado which opened in October 2018. The Company plans to continue opening Illegal Burger restaurants throughout the Denver metro area and expects to expand operations to other areas of the United States. The first of the Company’s newest concept -~~looking~~ ~~statements~~Illegal Pizza - opened in Lauderhill, Florida in June 2019. The Company plans to continue opening Illegal Burger and Illegal Pizza restaurants, a quick casual high end restaurant with full liquor licenses. The Company expects to locate in other areas of the country over time.

The ~~information~~Company ~~discussed~~completed inits ~~this~~Illegal ~~Annual~~Burger ~~Report~~Franchise onOffering ~~Form~~documents ~~10-K~~in ~~for~~May ~~the~~2019. ~~fiscal~~Illegal ~~year~~Burger ~~ended December 31~~Franchising, ~~2018~~LLC ashas ~~well~~retained asa ~~some~~marketing ~~statements~~group into ~~press~~assist ~~releases~~with ~~and some oral statements of~~ the ~~Company's~~start ~~officers~~up ~~during presentations about the Company include "forward looking statements" within the meaning~~ of ~~Section~~its ~~27A~~offering of ~~the~~franchises ~~Securities Act of 1933 (the "Securities Act")~~ and ~~Section~~to 21E of the Securities Exchange Act of 1934 (the "Exchange Act"). All statements, other than statements of historical facts, included herein and therein concerning, among other things, planned capital expenditures, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, business strategy and other plans and objectives for future operations, are forward looking statements. These forwardpre-~~looking~~qualify ~~statements are identified by their use of terms and phrases such as "may," "expect," "estimate," "project," "plan," "believe," "intend," "achievable," "anticipate," "will," "continue," "~~potential," ~~"should," "could," and similar terms and phrases~~franchisees. ~~Although~~The weCompany ~~believe~~hopes ~~that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and are not (and should not considered~~ to ~~be)~~have ~~guarantees~~its offirst ~~future~~franchise ~~performance.~~sales ~~Our results could differ materially from those anticipated~~ in ~~these forward-looking statements as a result of certain factors and~~ the ~~rapidly~~third ~~changing~~quarter ~~environment we operate in~~2020.

~~Our~~The ~~future~~Company ~~results~~began ~~will~~its ~~depend~~operations ~~upon~~in ~~various~~Illegal ~~other risks and uncertainties~~Brands, ~~including,~~LLC ~~but~~in ~~not~~June ~~limited to~~2019, ~~those~~offering ~~detailed~~its inown ~~the~~branded ~~section~~CBD ~~entitled~~infused ~~"Risk~~water ~~Factors"~~and ~~included~~CBD ~~elsewhere~~powder inpackets, ~~this~~first ~~Annual~~through ~~Report.~~its ~~All~~restaurant ~~forward looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements in this section and elsewhere in this Annual Report~~locations. ~~Other~~Illegal ~~than~~Brands asexpects ~~required under securities laws, we do not assume a duty~~ to ~~update~~offer these ~~forward-looking~~products ~~statements,~~to ~~whether~~third asparties on a ~~result~~wholesale ~~of new information, subsequent events or circumstances, changes in expectations or otherwise~~basis.

The Company’s wholly-owned subsidiaries are Nixon Restaurant Group, Inc.; J&F Restaurant, LLC (El Senor and Illegal Burger Evergreen); Illegal Burger, LLC (Arvada); Illegal Burger Writer Square, LLC; Illegal Burger Capital Hill, LLC; Illegal Burger CitiSet, LLC; Illegal Pizza, LLC; Illegal Brands, LLC; Illegal Burger Franchising, LLC; and, Illegal Brands IP, LLC.

Marketing

Our marketing programs are designed to increase transactions and grow sales. Our ultimate marketing mission is to make our brands a trusted and familiar name with the buying public, and to differentiate our brands from our competitors.

Our marketing efforts this year were focused on the kick off opening of Illegal Pizza in Lauderhill, FL and raising awareness of the location as well as working to drive increasing sales at the location. We are also focused on delivering value for the hard-earned dollars of our customers, as well as a new emphasis on safety, both of food and dine-in experience.

We utilize multiple marketing channels, including digital marketing, social media, events and sponsorships to make our brands more visible. We have invested and will continue to invest in customer research that will give us insight into our consumers in order to inform our business decisions, media, and messaging.

Competition

The fast-casual, quick-service, and casual dining segments of the restaurant industry are highly competitive with respect to, among other things, taste, price, food quality and presentation, service, location, convenience, brand reputation, cleanliness, and ambience of each restaurant. Our competition includes a variety of restaurants in each of these segments, including locally-owned restaurants, as well as national and regional chains. Many of our competitors offer dine-in, carry-out, online, catering, and delivery services. Among our main competitors are a number of multi-unit, multi-market hamburger restaurant concepts, some of which are expanding nationally. In recent years, competition has increased significantly from restaurant formats like ours that serve higher quality food, quickly and at a reasonable price.

Moreover, we may also compete with companies outside the fast-casual, quick-service, and casual dining segments of the restaurant industry. For example, competitive pressures can come from deli sections and in-store cafés of major grocery store chains, including those targeted at customers who seek higher-quality food, as well as from convenience stores, cafeterias, and other dining outlets. Meal kit delivery companies and other eat-at-home options also present

some degree of competition for our restaurants.

Restaurant Site Selection

We believe restaurant site selection is critical to our long-term success and growth strategy. As a result, we devote substantial time and effort to carefully evaluate each potential new restaurant location. We thoroughly assess the surrounding trade area, demographic and business information within that area, and available information on competitors and other restaurants. Based on this analysis, we determine projected sales and targeted return on investment for each potential restaurant site.

Information Systems and Cyber Security

We use a variety of applications and systems to securely manage the flow of information within each of our restaurants and centralized corporate infrastructure. The services available within our systems and applications include restaurant operations, supply chain, inventory, scheduling, training, human capital management, financial tools, and data protection services. We also continue to modernize and make investments in our information technology networks and infrastructure, specifically in our physical and technological security measures to anticipate cyber-attacks in order to combat breaches, as well as provide improved control, security and scalability.

Government Regulation and Environmental Matters

We are subject to various federal, state and local laws and regulations that govern aspects of our business operations, including:

employment practices, such as wage and hour and fair work week regulations, requirements to provide meal and rest periods, family leave mandates, workplace safety and accommodations to certain employees, citizenship or work authorization requirements, insurance and workers’ compensation rules, and anti-discrimination and anti-harassment laws;

privacy and data security, laws governing the collection, maintenance and use of information regarding employees and guests and consumer credit protection and fraud;

compliance with the Americans with Disabilities Act and similar laws that give civil rights protections to individuals with disabilities in the context of employment, public accommodations and other areas;

food safety and nutrition, including nutritional menu labeling nutrition and advertising practices;

environmental practices, including concerning the discharge, storage, handling, release and disposal of hazardous or toxic substances, and regulations restricting the use of straws, utensils and the types of packaging we can use in our restaurants; and

licensing and regulation by health, alcoholic beverage, sanitation, food and other agencies.

Employees

As of December 31, 2019, we had about 60 employees, including about 4 salaried employees and about 56 hourly employees. None of our employees are unionized or covered by a collective bargaining agreement.

Seasonality

Seasonal factors influencing our business are described in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

Our Intellectual Property and Trademarks

All of the intellectual property and trademarks used in connection with the operation of our business are owned by our wholly-owned subsidiary, Illegal Brands IP LLC. Although our policy is to protect and defend vigorously our rights to our intellectual property, we may not be able to adequately protect our intellectual property, which could harm the value of our brand and adversely affect our business.

Available Information

The Company expects to continue to file annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, proxy statements and other information with the SEC. Any materials filed by the Company with the SEC may be read and copied at the SEC’s Public Reference Room at 100 F Street, NE, Washington, D.C. 20549. Information on the operation of the SEC’s Public Reference Room is available by calling the SEC at 1-800-SEC-0330. The SEC maintains a website that contains annual, quarterly and current reports, proxy statements and other information that issuers (including the Company) file electronically with the SEC. The Internet address of the SEC’s website is http://www.sec.gov. At some point in the near future we intend to make our reports, amendments thereto, and other information available, free of charge, on a website for the Company. At this time, the Company does not provide a link on its website to such filings, and there is no estimate for when such a link on the Company’s website will be available.

The Company’s executive (or corporate) offices are located at 6610 Holman Street, Suite 301, Arvada, Colorado, 80004. Our telephone number is 303-423-1300 and our websites include: www.illegalburger.com; www.westcoastventuresgroupcorp.com; www.illegalbrands.com; www.illegalpizza.restaurant and www.franchise.illegalburger.com

Item 1A. Risk Factors.

~~The~~As ~~Company’s~~a ~~future~~smaller ~~growth~~reporting ~~depends~~company, ~~primarily~~we onare ~~our~~not ~~ability~~required to ~~open~~provide ~~new~~the ~~restaurants~~information required by this Item. However, as a result of recent events that may be outside of our control, such as political and issocial ~~subject~~unrest, toterrorist ~~many~~attacks, ~~unpredictable~~hostilities, ~~factors.~~malicious human acts, climate change, natural disasters (including extreme weather), pandemics or other major public health concerns, including the ongoing outbreak of a respiratory illness caused by the 2019 novel coronavirus that was recently named by the World Health Organization as COVID-19, and other similar events, we have included the following additional Risk Factors:

WeThe ~~expect~~novel ~~that~~coronavirus ~~one~~(COVID-19) ofpandemic ~~the~~has ~~key~~adversely ~~means~~affected ~~of achieving our growth strategy for the foreseeable future will be through the operation of our five existing restaurants, opening new restaurants~~ and ~~operating those restaurants on a profitable basis. Delays or failures in opening new restaurants~~ could ~~have~~continue ato ~~material~~adversely ~~adverse~~affect ~~effect on~~ our ~~growth strategy and our business,~~ financial ~~condition and~~ results, of operations. Asand weoutlook ~~operate~~for ~~more~~an ~~restaurants,~~extended ~~our~~period ~~rate~~ of ~~expansion relative to the size of our restaurant base will decline~~time.

InThe ~~addition~~novel coronavirus (COVID-19) pandemic, ~~one~~and ofrestrictions ~~our~~imposed ~~biggest~~by ~~challenges~~federal, state and local governments in ~~implementing~~response ~~our~~to ~~growth~~the ~~strategy~~outbreak, ishave ~~locating~~disrupted and ~~securing~~will ancontinue ~~adequate~~to ~~supply~~disrupt ofour ~~suitable~~business. ~~sites~~In ~~for~~many ~~new~~areas where we operate our restaurants., ~~Competition~~individuals ~~for~~are ~~those~~being ~~sites~~encouraged isto ~~intense~~practice social distancing, ~~and~~are ~~other~~restricted ~~restaurant~~from gathering in groups and, ~~retail~~in ~~concepts~~some ~~that~~areas, ~~compete~~are mandated to “stay home” except for ~~those~~purposes ~~sites~~considered ~~may~~essential. In response to the COVID-19 outbreak and government restrictions, we have ~~economic~~closed ~~models~~some of our restaurants, closed the dining rooms and are offering only takeout and delivery in all of the restaurants that ~~permit~~remain ~~them~~open toand ~~bid~~have ~~more~~implemented ~~aggressively~~modified ~~than~~work wehours ~~can~~in some restaurants. ~~There~~The ismobility norestrictions, ~~guarantee~~and ~~that~~the asharp ~~sufficient~~and ~~number~~sudden increase in unemployment caused by the closure of ~~suitable~~businesses ~~sites~~in response to the COVID-19 outbreak, have adversely affected and will becontinue ~~available~~to inadversely ~~desirable~~affect ~~areas~~our guest traffic, which adversely impacts our liquidity, financial condition or onresults ~~terms~~of ~~that~~operations. Even after the mobility restrictions are ~~acceptable~~loosened or lifted, guests may still be reluctant to usreturn to in-restaurant ~~order~~dining toand ~~achieve~~the ~~our~~impact ~~growth~~of ~~plan.~~lost ~~Our~~wages ~~ability~~due to ~~open~~COVID-19 ~~new~~related ~~restaurants~~unemployment ~~also~~may ~~depends~~dampen onconsumer ~~securing~~spending ~~desirable~~for ~~sites~~some ~~and~~time ~~other~~into ~~factors,~~the ~~including:~~future.

Our restaurant operations could be further disrupted if a significant number of our employees are unable or unwilling to work, whether because of illness, quarantine, restrictions on travel or fear of contracting COVID-~~negotiating~~19. ~~leases~~Additional ~~with~~restaurant ~~acceptable~~closures ~~terms;~~or modified hours of operation due to staffing shortages could further materially adversely affecting our liquidity, financial condition or results of operations. In certain areas face coverings for all restaurant employees are required, and to support our employees and protect the health and safety of our employees and guests, we have offered enhanced health and welfare benefits, provided temporary wage increases and bonuses to restaurant employees, and purchased additional sanitation supplies and personal protective materials. These measures have increased our operating costs and adversely affected our liquidity.

The COVID-~~identifying,~~19 ~~hiring~~outbreak ~~and~~also ~~training~~may ~~qualified~~adversely ~~employees~~affect inthe ~~each~~ability ~~local~~of ~~market;~~our suppliers to fulfill their obligations to us, which

-timely delivery of leased premises to us from our landlords and punctual commencement of our build-out construction activities;

-managing construction and development costs of new restaurants, particularly in competitive markets;

-obtaining construction materials and labor at acceptable costs;

-securing required governmental approvals, permits and licenses (including construction and other permits) in a timely manner and responding effectively to any changes in local, state or federal laws and regulations, and

-avoiding the impact of inclement weather, natural disasters and other calamities.

Our progress in opening restaurants may occur at an uneven rate. If we do not open new restaurants in the future according to our current plans, the delay could have a material adverse effect on our business, financial condition and results of operations.

The Company operates in the highly competitive restaurant industry.

We face significant competition from restaurants in the quick-casual dining and traditional fast food segments of the restaurant industry. These segments are highly competitive with respect to, among other things, taste, price, food quality and presentation, service, location and the ambience and condition of each restaurant. Our competition includes a variety of locally-owned restaurants offering dine-in, carry-out, delivery and catering services and a number of multi-unit, multi-market, fast casual restaurant concepts, some of which are expanding nationally. Many of our competitors have existed longer and have a more established market presence with substantially greater financial, marketing, personnel and other resources than we do. As we expand, we will face competition from these restaurant concepts as well as new competitors that strive to compete with our market segments. These competitors may have, among other things, lower operating costs, better locations, better facilities, better management, more effective marketing and more efficient operations. Additionally, we face the risk that new or existing competitors will copy our business model, menu options, presentation or ambience, among other things.

Any inability to successfully compete with restaurants in our markets will place downward pressure on our customer traffic and may prevent us from increasing or sustaining our revenue and profitability. Consumer tastes, nutritional and dietary trends, traffic patterns and the type, number and location of competing restaurants often affect the restaurant business and our competitors may react more efficiently and effectively to those conditions. Several of our competitors compete by offering menu items that are specifically identified as low in carbohydrates, gluten-free or healthier for consumers. In addition, many of our traditional fast food restaurant competitors offer lower-priced menu options, meal packages or loyalty programs. Our sales could decline due to changes in popular eating trends and

media attention on new restaurants. If we are unable to continue to compete effectively, our traffic, sales and restaurant contribution could decline which would have a material adverse effect on our business, financial condition and results of operations.

Changes in food and supply costs, delivery, and availability could have a material adverse effect on our business, financial condition and results of operations.

Our profitability depends in part on our ability to anticipate and react to changes in food and supply costs, and our ability to maintain our menu depends in part on our ability to acquire ingredients that meet our specifications from reliable suppliers. Shortages or interruptions in the availability of certain supplies caused by unanticipated demand, problems in production or distribution, food contamination, inclement weather or other conditions could adversely affect the availability, quality and cost of our ingredients, which could harm our operations. Any increase in the prices of the food products most critical to our menu, such as beef, chicken, fresh produce, soybean oil and other proteins, could have a material adverse effect on our results of operations. We currently do not purchase beef with fixed pricing or use futures contracts or other financial risk management strategies to reduce our exposure to potential price fluctuations. The market for ground beef is particularly volatile and is subject to extreme price fluctuations due to seasonal shifts, climate conditions, the price of feed, industry demand, energy demand and other factors. Although we try to manage the impact that these fluctuations have on our operating results, we remain susceptible to increases in food costs as a result of factors beyond our control, such as general economic conditions, seasonal fluctuations, weather conditions, demand, food safety concerns, generalized infectious diseases, product recalls and government regulations. Therefore, material increases in the prices or decreases in the supply of the ingredients most critical to our menu, particularly ground beef, could adversely affect our operating results or cause us to consider changes to our product delivery strategy and adjustments to our menu pricing.

If any of our distributors or suppliers performs inadequately, or our distribution or supply relationships are disrupted for any reason, there could be a material adverse effect on our business, financial condition, results of operations or cash flows. Although we often enter into contracts for the purchase of food products and supplies, we do not have long-term contracts for the purchase of all of such food products and supplies. As a result, we may not be able to anticipate or react to changing food costs by adjusting our purchasing practices or menu prices, which could cause our operating results to deteriorate. If we cannot replace or engage distributors or suppliers who meet our specifications in a short period of time, that could increase our expenses and cause shortages of food and other items at our restaurants, which could cause a restaurant to remove items from its menu. If that were to happen, affected restaurants could experience significant reductions in sales during the shortage or thereafter, if customers change their dining habits as a result. In addition, because we provide moderately priced food, we may choose not to, or may be unable to, pass along commodity price increases to consumers, including price increases with respect to ground beef. These potential changes in food and supply costs could have a material adverse effect on our business, financial condition and results of operations.

Our expansion into new markets and restaurant concepts may present increased risks.

We plan to open new restaurant concepts and restaurants in markets where we have little or no operating experience. Restaurants we open in new markets may take longer to reach expected sales and profit levels on a consistent basis and may have higher construction, occupancy or operating costs than restaurants we open in existing markets, thereby affecting our overall profitability. New markets may have competitive conditions, consumer tastes and discretionary spending patterns that are more difficult to predict or satisfy than our existing markets. We may need to make greater investments than we originally planned in advertising and promotional activity in new markets to build brand awareness. We may find it more difficult in new markets to hire, motivate and keep qualified employees who share our vision, passion and culture. As a result, these new restaurants may be less successful. We may not be able to successfully develop critical market presence for our brand in new geographical markets, as we may be unable to find and secure attractive locations, build name recognition or attract new customers. Inability to fully implement or failure to successfully execute our plans to enter new markets could have a material adverse effect on our business, financial condition and results of operations.

Our existing restaurants and new restaurants may not be profitable.

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-competition, either from our competitors in the restaurant industry or our own restaurants;

-temporary and permanent site characteristics of new restaurants;

-changes in government regulation, and

-other unanticipated increases in costs, any of which could give rise to delays or cost overruns.

If our new restaurants do not perform as planned, our business and future prospects could be harmed. In addition, an inability to achieve our expected average restaurant revenue would have a material adverse effect on our business, financial condition and results of operations.

Our long-term success is highly dependent on our ability to effectively identify and secure appropriate sites for new restaurants.

We intend to develop new restaurants in our existing markets, expand into adjacent markets and selectively enter into new markets. In order to build new restaurants, we must first identify markets where we can enter or expand, taking into account numerous factors, including the location of our current restaurants, local economic trends, population density, area demographics and geography. Then we must secure appropriate restaurant sites, one of our biggest challenges. There are numerous factors involved in identifying and securing an appropriate restaurant site, including:

-evaluating size of the site, traffic patterns, local retail and business attractions and infrastructure that will drive high levels of customer traffic and sales;

-competition in new markets, including competition for restaurant sites;

-financial conditions affecting developers and potential landlords, such as the effects of macro-economic conditions and the credit market, which could lead to these parties delaying or canceling development projects (or renovations of existing projects), in turn reducing the number of appropriate restaurant sites available;

-developers and potential landlords obtaining licenses or permits for development projects on a timely basis;

-proximity of potential restaurant sites to existing restaurants;

-anticipated commercial, residential and infrastructure development near the potential restaurant site, and

-availability of acceptable lease terms and arrangements.

Given the numerous factors involved, we may not be able to successfully identify and secure attractive restaurant sites in existing, adjacent or new markets, which could have a material adverse effect on our business, financial condition and results of operations.

We might require additional capital to support business growth, and this capital might not be available.

We intend to continue to make investments to support our business growth and might require additional funds to respond to business challenges or opportunities, including the need to open additional restaurants, develop new products and menu items or enhance our products and menu items, and enhance our operating infrastructure. Accordingly, we might need to engage in equity or debt financings to secure additional funds. If we raise additional funds through further issuances of equity or convertible debt securities, our existing stockholders could suffer

significant dilution, and any new equity securities we issue could have rights, preferences and privileges superior to those of holders of our common stock. Any debt financing secured by us in the future could involve restrictive covenants relating to our capital-raising activities and other financial and operational matters, which might make it more difficult for us to obtain additional capital and to pursue business opportunities, including potential acquisitions. Moreover, if we issue new debt securities, the debt holders would have rights senior to common stockholders to make claims on our assets. In addition, we might not be able to obtain additional financing on terms favorable to us, if at all. If we are unable to obtain adequate financing or financing on terms satisfactory to us when we require it, our ability to continue to support our business growth and to respond to business challenges could be significantly limited.

Failure to manage our growth effectively could harm our business and operating results.

Our growth plan includes opening a number of new restaurants. Our existing restaurant management systems, financial and management controls and information systems may be inadequate to support our planned expansion. Managing our growth effectively will require us to continue to enhance these systems, procedures and controls and to hire, train and retain managers and team members. We may not respond quickly enough to the changing demands that our expansion will impose on our management, restaurant teams and existing infrastructure, which could harm our business, financial condition and results of operations.

Opening and operating new restaurants in existing markets may negatively impact sales at our existing restaurants.

The consumer target area of our restaurants varies by location, depending on a number of factors, including population density, other local retail and business attractions, area demographics and geography. As a result, the opening of a new restaurant in or near markets in which we already have restaurants could adversely impact sales at these existing restaurants. Existing restaurants could also make it more difficult to build our consumer base for a new restaurant in the same market. Our core business strategy does not entail opening new restaurants that we believe will materially affect sales at our existing restaurants, but we may selectively open new restaurants in and around areas of existing restaurants that are operating at or near capacity to effectively serve our customers.

The planned increase in the number of our restaurants may make our future results unpredictable.

We intend to continue to increase the number of our restaurants in the next several years. This growth strategy and the substantial investment associated with the development of each new restaurant may cause our operating results to fluctuate unpredictably or have an adverse effect on our profits. In addition, we may find that our restaurant concept has limited appeal in new markets or we may experience a decline in the popularity of our restaurant concept in the markets in which we operate. Newly opened restaurants or our future markets and restaurants may not be successful or our system-wide average restaurant revenue may not increase at historical rates, which could have a material adverse effect on our business, financial condition and results of operations.

Negative publicity relating to one of our restaurants could reduce sales at some or all of our other restaurants.

Our success is dependent in part upon our ability to maintain and enhance the value of our brand and consumers’ connection and loyalty to it. We may, from time to time, be faced with negative publicity relating to food quality, public health concerns, restaurant facilities, customer complaints or litigation alleging illness or injury, health inspection scores, integrity of our or our suppliers’ food processing, employee relationships or other matters, regardless of whether the allegations are valid or whether we are ultimately held to be responsible. The negative impact of adverse publicity relating to one restaurant may extend far beyond the restaurant involved to affect some or all of our other restaurants. The considerable expansion in the use of social media over recent years can further amplify any negative publicity that could be generated by such incidents. A similar risk exists with respect to unrelated food service businesses if consumers associate those businesses with our own operations.

Additionally, employee claims against us based on, among other things, wage and hour violations, discrimination, harassment or wrongful termination may also create negative publicity that could adversely affect us and divert our financial and management resources that would otherwise be used to benefit the future performance of our operations. Successful claims would have a material adverse effect on our business, financial condition and results of operations.

Consumer demand for our products and our brand’s value could diminish significantly if any such incidents or other matters create negative publicity or otherwise erode consumer confidence in us or our products, which would likely result in lower sales and could have a material adverse effect on our business, financial condition and results of operations.

Governmental regulation may adversely affect our ability to open new restaurants or otherwise adversely affect our business, financial condition and results of operations.

We are subject to various federal, state and local regulations, including those relating to building and zoning requirements and those relating to the preparation and sale of food. The development and operation of restaurants depends to a significant extent on the selection and acquisition of suitable sites, which are subject to zoning, land use, environmental, traffic and other regulations and requirements. Our restaurants are also subject to state and local licensing and regulation by health, sanitation, food and occupational safety and other agencies. We may experience material difficulties or failures in obtaining the necessary licenses, approvals or permits for our restaurants, which could delay planned restaurant openings or affect the operations at our existing restaurants. In addition, stringent and varied requirements of local regulators with respect to zoning, land use and environmental factors could delay or prevent development of new restaurants in particular locations.

We are subject to the United States Americans with Disabilities Act (the “ADA”) and similar state laws that give civil rights protections to individuals with disabilities in the context of employment, public accommodations and other areas, including our restaurants. We may in the future have to modify restaurants by adding access ramps or redesigning certain architectural fixtures, for example, to provide service to or make reasonable accommodations for disabled persons. The expenses associated with these modifications could be material.

Our operations are also subject to the U.S. Occupational Safety and Health Act (commonly called “OSHA”) which governs worker health and safety, the U.S. Fair Labor Standards Act which governs such matters as minimum wages and overtime and a variety of similar federal, state and local laws that govern these and other employment law matters. We may also be subject to lawsuits from our employees, the U.S. Equal Employment Opportunity Commission or others alleging violations of federal and state laws regarding workplace and employment matters, discrimination and similar matters, and we have been a party to such matters in the past. In addition, federal, state and local proposals related to paid sick leave or similar matters could, if implemented, have a material adverse effect on our business, financial condition and results of operations.

There is also a potential for increased regulation of certain food establishments in the United States, where compliance with a Hazard Analysis and Critical Control Points (“HACCP”) approach would be required. HACCP refers to a management system in which food safety is addressed through the analysis and control of potential hazards from production, procurement and handling, to manufacturing, distribution and consumption of the finished product. Many states have required restaurants to develop and implement HACCP Systems, and the United States government continues to expand the sectors of the food industry that must adopt and implement HACCP programs. For example, the Food Safety Modernization Act, signed into law in January 2011, granted the U.S. Food and Drug Administration new authority regarding the safety of the entire food system, including through increased inspections and mandatory food recalls. Although restaurants are specifically exempted from or not directly implicated by some of these new requirements, we anticipate that the new requirements may impact our industry. Additionally, our suppliers may initiate or otherwise be subject to food recalls that may impact the availability of certain products, result in adverse publicity or require us to take actions that could be costly for us or otherwise impact our business.

The impact of current laws and regulations, the effect of future changes in laws or regulations that impose additional requirements and the consequences of litigation relating to current or future laws and regulations, or our inability to respond effectively to significant regulatory or public policy issues, could increase our compliance and other costs of doing business and, therefore, have an adverse effect on our results of operations. Failure to comply with the laws and regulatory requirements of federal, state and local authorities could result in, among other things, revocation of required licenses, administrative enforcement actions, fines and civil and criminal liability. In addition, certain laws, including the ADA, could require us to expend significant funds to make modifications to our restaurants if we failed to comply with applicable standards. Compliance with the aforementioned laws and regulations can be costly and can

increase our exposure to litigation or governmental investigations or proceedings, which could have a material adverse effect on our business, financial condition and results of operation.

Food safety and food-borne illness concerns could have an adverse effect on our business.

We cannot guarantee that our internal controls and training will be fully effective in preventing all food safety issues at our restaurants, including any occurrences of food-borne illnesses such as salmonella, E. coli and hepatitis A. Our quality assurance, health and sanitation internal controls and conditions are inspected by a third-party on a quarterly basis. If the third-party inspector fails to report unsafe or unsanitary conditions or insufficient internal controls, we cannot guarantee that our internal controls will be fully effective in preventing all food safety issues. We rely on third-party vendors, making it difficult to monitor food safety compliance and increasing the risk that food-borne illness would affect multiple locations rather than a single restaurant. Some food-borne illness incidents could be caused by third-party vendors and transporters outside of our control. New illnesses resistant to our current precautions may develop in the future, or diseases with long incubation periods could arise, that could give rise to claims or allegations on a retroactive basis. One or more instances of food-borne illness in any of our restaurants or markets or related to food products we sell could negatively affect our restaurant revenue companywide if highly publicized on national media outlets or through social media. This risk exists even if it were later determined that the illness was wrongly attributed to us or one of our restaurants. A number of other restaurant chains have experienced incidents related to food-borne illnesses that have had a material adverse effect on their operations. The occurrence of a similar incident at one or more of our restaurants, or negative publicity or public speculation about an incident, could have a material adverse effect on our business, financial condition and results of operations.

We could be party to litigation that could distract management, increase our expenses or subject us to material monetary damages or other remedies.

or that we have problems with food quality or operations. We may also be subject to a variety of other claims arising in the ordinary course of our business, including personal injury claims, contract claims and claims alleging violations of federal and state law regarding workplace and employment matters, equal opportunity, harassment, discrimination and similar matters, and we could become subject to class action or other lawsuits related to these or different matters in the future. In recent years, a number of restaurant companies have been subject to such claims, and some of these lawsuits have resulted in the payment of substantial damages by the defendants. Regardless of whether any claims against us are valid, or whether we are ultimately held liable, claims may be expensive to defend and may divert time and money away from our operations and hurt our performance. A judgment in excess of our insurance coverage for any claims could materially and adversely affect our financial condition and results of operations. Any adverse publicity resulting from these allegations may also materially and adversely affect our reputation, which in turn could have a material adverse effect on our business, financial condition and results of operations.

In addition, the restaurant industry has been subject to a growing number of claims based on the nutritional content of food products sold and disclosure and advertising practices. We may also be subject to this type of proceeding in the future and, even if we are not, publicity about these matters (particularly directed at the fast casual or traditional fast food segments of the industry) may harm our reputation and could have a material adverse effect on our business, financial condition and results of operations.

Compliance with environmental laws may negatively affect our business.

We are subject to federal, state and local laws and regulations concerning waste disposal, pollution, protection of the environment and the presence, discharge, storage, handling, release and disposal of, and exposure to, hazardous or toxic substances. These environmental laws provide for significant fines and penalties for noncompliance and liabilities for remediation, sometimes without regard to whether the owner or operator of the property knew of, or was responsible for, the release or presence of hazardous toxic substances. Third parties may also make claims against owners or operators of properties for personal injuries and property damage associated with releases of, or actual or alleged exposure to, such hazardous or toxic substances at, on or from our restaurants. Environmental conditions relating to releases of hazardous substances at a prior, existing or future restaurant could have a material adverse effect on our business, financial condition and results of operations. Further, environmental laws, and the

administration, interpretation and enforcement thereof, are subject to change and may become more stringent in the future, each of which could have a material adverse effect on our business, financial condition and results of operations.

New information or attitudes regarding diet and health could result in changes in regulations and consumer consumption habits.

Regulations and consumer eating habits may change as a result of new information or attitudes regarding diet and health. Such changes may include responses to scientific studies on the health effects of particular food items or federal, state and local regulations that impact the ingredients and nutritional content of the food and beverages we offer. The success of our restaurant operations is dependent, in part, upon our ability to effectively respond to changes in any consumer attitudes or health regulations and our ability to adapt our menu offerings to trends in food consumption, especially fast-moving trends. If consumer health regulations or consumer eating habits change significantly, we may choose or be required to modify or delete certain menu items, which may adversely affect the attractiveness of our restaurants to new or returning customers. While we generally find that changes in consumer eating habits occur slowly, providing us with sufficient time to adapt our restaurant concept accordingly, changes in consumer eating habits can occur rapidly, often in response to published research or study information, which puts additional pressure on us to adapt quickly. To the extent we are unwilling or unable to respond with appropriate changes to our menu offerings in an efficient manner, it could materially affect consumer demand and have an adverse impact on our business, financial condition and results of operations.

Government regulation and consumer eating habits may impact our business as a result of changes in attitudes regarding diet and health or new information regarding the adverse health effects of consuming certain menu offerings. These changes have resulted in, and may continue to result in, laws and regulations requiring us to disclose the nutritional content of our food offerings, and they have resulted, and may continue to result in, laws and regulations affecting permissible ingredients and menu offerings. A number of counties, cities and states, including Colorado have enacted menu labeling laws requiring multi-unit restaurant operators to disclose to consumers certain nutritional information, or have enacted legislation restricting the use of certain types of ingredients in restaurants, which laws may be different or inconsistent with requirements under the Patient Protection and Affordable Care Act of 2010 (the “PPACA”) which establishes a uniform, federal requirement for certain restaurants to post nutritional information on their menus. Specifically, the PPACA requires chain restaurants with 20 or more locations operating under the same name and offering substantially the same menus to publish the total number of calories of standard menu items on menus and menu boards, along with a statement that puts this calorie information in the context of a total daily calorie intake.

We may not be able to effectively respond to changes in consumer health perceptions, comply with further nutrient content disclosure requirements or adapt our menu offerings to trends in eating habits, which could have a material adverse effect on our business, financial condition and results of operations.

The minimum wage continues to increase and is subject to factors outside of our control.

We have a substantial number of hourly employees who are paid wage rates based on the applicable federal or state minimum wage, although our pay scale starts in excess of the minimum wage, and increases in the minimum wage may increase our labor costs. In 2017, minimum wage for non-tipped employees in the State of Colorado (where all of our restaurants are currently located) was $9.30 per hour but increased to $10.20 per hour on January 1, 2018 and to $11.10 on January 1, 2019. The minimum wage for tipped employees in the State of Colorado was $7.18 per hour in 2018 which rose to $8.08 on January 1, 2019. Moreover, municipalities may set minimum wages above the applicable state standards. Either federally-mandated or state-mandated minimum wages may be raised in the future. We may be unable to increase our menu prices in order to pass future increased labor costs on to our customers, in which case our margins would be negatively affected, which could have a material adverse effect on our business, financial condition and results of operations. Alternatively, if management determines the Company should increase menu prices to cover increased labor costs, the higher prices could adversely affect sales and thereby reduce our margins.

Changes in employment laws may adversely affect our business.

Various federal and state labor laws govern the relationship with our employees and impact operating costs. These laws include employee classification as exempt or non-exempt for overtime and other purposes, minimum wage requirements, unemployment tax rates, workers’ compensation rates, immigration status and other wage and benefit requirements. Significant additional government-imposed increases in the following areas could have a material adverse effect on our business, financial condition and results of operations:

-minimum wages;

-mandatory health benefits;

-vacation accruals;

-paid leaves of absence, including paid sick leave, and tax reporting.

The U.S. Congress and Department of Homeland Security from time to time consider, and may implement, changes to federal immigration laws, regulations or enforcement programs as well. Some of these changes may increase our obligations for compliance and oversight, which could subject us to additional costs and make our hiring process more cumbersome, or reduce the availability of potential employees. Although we require all workers to provide us with government-specified documentation evidencing their employment eligibility, some of our employees may, without our knowledge, be unauthorized workers. We currently participate in the “E-Verify” program, an Internet-based, free program run by the United States government to verify employment eligibility in states in which participation is required. However, use of the “E-Verify” program does not guarantee that we will properly identify all applicants who are ineligible for employment. Unauthorized workers are subject to deportation and may subject us to fines or penalties, and if any of our workers are found to be unauthorized we could experience adverse publicity that negatively impacts our brand and may make it more difficult to hire and keep qualified employees. Termination of a significant number of employees who were unauthorized employees may disrupt our operations, cause temporary increases in our labor costs as we train new employees and result in additional adverse publicity. We could also become subject to fines, penalties and other costs related to claims that we did not fully comply with all recordkeeping obligations of federal and state immigration compliance laws. These factors could have a material adverse effect on our business, financial condition and results of operations.

We rely heavily on certain vendors, suppliers and distributors, which could have a material adverse effect on our business, financial condition and results of operations.

Our ability to maintain consistent price and quality throughout our restaurants depends in part upon our ability to acquire specified food products and supplies in sufficient quantities from third-party vendors, suppliers and distributors at a reasonable cost. We use a limited number of suppliers and distributors in various geographical areas, particularly with respect to our fresh food products. We do not control the businesses of our vendors, suppliers and distributors, and our efforts to specify and monitor the standards under which they perform may not be successful. Furthermore, certain food items are perishable, and we have limited control over whether these items will be delivered to us in appropriate condition for use in our restaurants. If any of our vendors or other suppliers are unable to fulfill their obligations to our standards, or if we are unable to find replacement providers in the event of a supply or service disruption, we could encounter supply shortages and incur higher costs to secure adequate supplies, which would have a material adverse effect on our business, financial condition and results of operations. Furthermore, if our current vendors or other suppliers are unable to support our expansion into new markets, or if we are unable to find vendors to meet our supply specifications or service needs as we expand, we could likewise encounter supply shortages and incur higher costs to secure adequate supplies, which would have a material adverse effect on our business, financial condition and results of operations.

In addition, we use various third-party vendors to provide, support and maintain most of our management information systems. We also outsource certain accounting, payroll and human resource functions to business process service providers. The failure of such vendors to fulfill their obligations could disrupt our operations. Additionally, any changes we may make to the services we obtain from our vendors, or new vendors we employ, may disrupt our operations. These disruptions could have a material adverse effect on our business, financial condition and results of operations.

The effect of changes to healthcare laws in the United States may increase the number of employees who choose to participate in our healthcare plans which may significantly increase our healthcare costs and negatively impact our financial results.

In 2010, the PPACA was signed into law in the United States to require health care coverage for many uninsured individuals and expand coverage to those already insured. We currently offer and subsidize a portion of comprehensive healthcare coverage, primarily for our salaried employees. The PPACA will require us to offer healthcare benefits to all full-time employees (including full-time hourly employees) that meet certain minimum requirements of coverage and affordability, or face penalties. We intend to offer such benefits in mid- to late-2019 and may incur substantial additional expense due to organizing and maintaining the plan which we anticipate will be more expensive on a per person basis and for an increased number of employees who we anticipate will elect to obtain coverage through a healthcare plan we subsidize in part. If we fail to offer such benefits, or the benefits we elect to offer do not meet the applicable requirements, we may incur penalties. Since the PPACA also requires individuals to obtain coverage or face individual penalties, employees who are currently eligible but elect not to participate in our healthcare plans may find it more advantageous to do so when such individual mandates take effect. It is also possible that by making changes or failing to make changes in the healthcare plans offered by us we will become less competitive in the market for our labor. Finally, implementing the requirements of the PPACA is likely to impose additional administrative costs. The costs and other effects of these new healthcare requirements cannot be determined with certainty, but they may significantly increase our healthcare coverage costs and could have a material adverse effect on our business, financial condition and results of operations.

We depend on our senior management and other key employees, and the loss of one or more key personnel or inability to attract, hire, integrate and retain highly skilled personnel could have a material adverse effect on our business, financial condition and results of operations.

Our success depends largely upon the continued service of our key management. We rely on such persons to set the strategic direction and operations of our business, identifying, recruiting and training key personnel, identifying expansion opportunities arranging financing and general administrative functions. At the current business stage, the Company relies on one key person for all of these roles. If Mr. Nixon were to depart from his roles it could have a serious adverse effect on our business. Replacing Mr. Nixon’s role would involve significant time and expense and ultimately fail to happen.

Labor shortages, unionization activities, labor disputes or increased labor costs could negatively impact our growth and could have a material adverse effect on our business, financial condition and results of operations.

Labor is a primary component in the cost of operating our restaurants. If we face labor shortages or increased labor costs because of increased competition for employees, higher employee turnover rates, increases in the federal, state or local minimum wage or other employee benefits costs (including costs associated with health insurance coverage), our restaurant service quality could suffer and our operating expenses could increase and our growth could be negatively impacted. Our success depends in part upon our ability to attract, motivate and retain a sufficient number of well-qualified restaurant operators and management personnel, as well as a sufficient number of other qualified employees, including customer service and kitchen staff, to keep pace with our expansion schedule. In addition, restaurants have traditionally experienced relatively high employee turnover rates. Although we have not yet experienced significant problems in recruiting or retaining employees, our ability to recruit and retain such individuals may delay the planned openings of new restaurants or result in higher employee turnover in existing restaurants, which could have a material adverse effect on our business, financial condition and results of operations.

Although none of our employees are currently covered under collective bargaining agreements, if a significant number of our employees were to become unionized and their collective bargaining agreement terms were significantly different from our current compensation arrangements, it could adversely affect our business, financial condition and results of operations. In addition, a labor dispute involving some or all of our employees may harm our reputation, disrupt our operations and reduce our revenue, and resolution of disputes may increase our costs.

If we are unable to continue to recruit and retain sufficiently qualified individuals, our business and our growth could be adversely affected. Increases in minimum wage and competition for these employees could require us to pay higher wages, which could result in higher labor costs. Additionally, costs associated with workers’ compensation are rising, and these costs may continue to rise in the future. We may be unable to increase our menu prices in order to pass these increased labor costs on to consumers, in which case our margins would be negatively affected, which could have a material adverse effect on our business, financial condition and results of operations.

We may not be able to adequately protect our intellectual property, which could harm the value of our brand and have a material adverse effect on our business, financial condition and results of operations.

Our intellectual property is material to the conduct of our business. Our ability to implement our business plan successfully depends in part on our ability to further build brand recognition using our proprietary intellectual property, including our name and logos and the unique ambience of our restaurants. While it is our policy to protect and defend vigorously our rights to our intellectual property, we cannot predict whether steps taken by us to protect our intellectual property rights will be adequate to prevent misappropriation of these rights or the use by others of restaurant features based upon, or otherwise similar to, our restaurant concept. It may be difficult for us to prevent others from copying elements of our concept and any litigation to enforce our rights will likely be costly and may not be successful. Although we believe that we have sufficient rights to all of our intellectual property, we may face claims of infringement that could interfere with our ability to market our restaurants and promote our brand. Any such litigation may be costly and could divert resources from our business. Moreover, if we are unable to successfully defend against such claims, we may be prevented from using our intellectual property in the future and may be liable for damages, which in turn could have a material adverse effect on our business, financial condition and results of operations.

We may incur costs resulting from breaches of security of confidential consumer information related to our electronic processing of credit and debit card transactions.

The majority of our restaurant sales are by credit or debit cards. Other restaurants and retailers have experienced security breaches in which credit and debit card information has been stolen. We may in the future become subject to claims for purportedly fraudulent transactions arising out of the actual or alleged theft of credit or debit card information as the result of a security breach, and we may be subject to lawsuits or other proceedings relating to these types of incidents. In addition, most states have enacted legislation requiring notification of security breaches involving personal information, including credit and debit card information. Any such claim or proceeding could cause us to incur significant unplanned expenses, which could have a material adverse effect on our business, financial condition and results of operations. Further, adverse publicity resulting from these allegations may have a material adverse effect on our business and results of operations.

We rely heavily on information technology, and any material failure, weakness, interruption or breach of security could prevent us from effectively operating our business.

We rely heavily on information systems, including point-of-sale processing in our restaurants, for management of our supply chain, payment of obligations, collection of cash, credit and debit card transactions and other processes and procedures. Our ability to efficiently and effectively manage our business depends significantly on the reliability and capacity of these systems. Our operations depend upon our ability to protect our computer equipment and systems against damage from physical theft, fire, power loss, telecommunications failure or other catastrophic events, as well as from internal and external security breaches, viruses and other disruptive problems. The failure of these systems to operate effectively, maintenance problems, upgrading or transitioning to new platforms or a breach in security of these systems could result in delays in customer service, a reduction of efficiency in our operations and significant consumer complaints. Remediation of such problems could result in substantial, unplanned capital investments and expenses.

Failure to obtain and maintain required licenses and permits or to comply with food control regulations could lead to the loss of our food service licenses and, thereby, harm our business.

The restaurant industry is subject to various federal, state and local government regulations, including those relating to the sale of food. Such regulations are subject to change from time to time. The failure to obtain and maintain these licenses, permits and approvals could have a material adverse effect on our results of operations. Typically, licenses must be renewed annually and may be revoked, suspended or denied renewal for cause at any time if governmental authorities determine that our conduct violates applicable regulations. Difficulties or failure to maintain or obtain the required licenses and approvals could adversely affect our existing restaurants and delay or result in our decision to cancel the opening of new restaurants, which would have a material adverse effect on our business and growth strategy.

We are subject to all of the risks associated with leasing space subject to long-term non-cancelable leases.

We do not own any real property. Payments under our operating leases account for a significant portion of our operating expenses and we expect the new restaurants we open in the future will also be leased. We operate under non-cancelable leases for our restaurants. Our restaurant leases generally have a term of five, seven or ten years. Our restaurant leases generally require us to pay a proportionate share of real estate taxes, insurance, common area maintenance charges and other operating costs. Some restaurant leases provide for contingent rental payments based on sales thresholds, although we generally do not expect to pay significant contingent rent on these properties based on the thresholds in those leases. Additional sites that we lease are likely to be subject to similar long-term non-cancelable leases. If an existing or future restaurant is not profitable, and we decide to close it, we may nonetheless be committed to perform our obligations under the applicable lease including, among other things, paying the base rent for the balance of the lease term. In addition, as each of our leases expires, we may fail to negotiate renewals, either on commercially acceptable terms or at all, which could cause us to pay increased occupancy costs or to close restaurants in desirable locations. These potential increased occupancy costs and closed restaurants could have a material adverse effect on our business, financial condition and results of operations.

Our liability insurance coverage may not be adequate.

Our current insurance policies may not be adequate to protect us from liabilities that we incur in our business. Additionally, in the future, our insurance premiums may increase, and we may not be able to obtain similar levels of insurance on reasonable terms, or at all. Any substantial inadequacy of, or inability to obtain insurance coverage could have a material adverse effect on our business, financial condition and results of operations.

There are types of losses we may incur that cannot be insured against or that we believe are not economically reasonable to insure. Such losses could have a material adverse effect on our business, financial condition and results of operations. As a public company, we intend to seek directors’ and officers’ insurance. While we expect to obtain such coverage, we may not be able to obtain such coverage at all or at a reasonable cost now or in the future. Failure to obtain and maintain adequate directors’ and officers’ insurance would likely adversely affect our ability to attract and retain qualified officers and directors.

Changes in economic conditions, adverse weather and unforeseen conditions, particularly in Colorado where we operate, may have a material adverse effect on our business, financial condition and results of operations.

The restaurant industry depends on consumer discretionary spending. The United States in general or the specific markets in which we operate may suffer from depressed economic activity, recessionary economic cycles, higher fuel or energy costs, low consumer confidence, high levels of unemployment, reduced home values, increases in home foreclosures, investment losses, personal bankruptcies, reduced access to credit or other economic factors that may affect consumer discretionary spending. Traffic in our restaurants could decline if consumers choose to dine out less frequently or reduce the amount they spend on meals while dining out. Negative economic conditions might cause consumers to make long-term changes to their discretionary spending behavior, including dining out less frequently on a permanent basis, which could have a material adverse effect on our business, financial condition and results of operations.

In addition, changes in economic conditions, adverse weather conditions or other unforeseen conditions in Colorado (or any states we may operate in the future) or states in which our suppliers operate could have a disproportionate impact on our overall results of operations.

Furthermore, regional occurrences in the markets in which we operate, such as local strikes, terrorist attacks, increases in energy prices, adverse weather conditions, tornadoes, earthquakes, hurricanes, floods, droughts, fires or other natural or man-made disasters, could have a material adverse effect on our business, financial condition and results of operations. Adverse weather conditions does also impact customer traffic at our restaurants and, in more severe cases, cause temporary restaurant closures, sometimes for prolonged periods. All of our restaurants have outdoor seating, and the effects of adverse weather does impact the use of these areas and may negatively impact our revenue. If restaurant revenue decreases, our profitability could decline as we spread fixed costs across a lower level of sales. Reductions in staff levels, asset impairment charges and potential restaurant closures could result from prolonged negative restaurant revenue, which would have a material adverse effect on our business, financial condition and results of operations.

Changes to accounting rules or regulations may adversely affect the reporting of our results of operations.

Changes to existing accounting rules or regulations may impact the reporting of our future results of operations or cause the perception that we are more highly leveraged. Other new accounting rules or regulations and varying interpretations of existing accounting rules or regulations have occurred and may occur in the future. For instance, accounting regulatory authorities have indicated that they may begin to require lessees to capitalize operating leases in their financial statements in the next few years. If adopted, such change would require us to record significant lease obligations on our balance sheet and make other changes to our financial statements. This and other future changes to accounting rules or regulations could have a material adverse effect on the reporting of our business, financial condition and results of operations.

Changes to estimates related to our property, fixtures and equipment or operating results that are lower than our current estimates at certain restaurant locations may cause us to incur impairment charges on certain long-lived assets.

In accordance with accounting guidance as it relates to the impairment of long-lived assets, we make certain estimates and projections with regard to individual restaurant operations, as well as our overall performance, in connection with our impairment analyses for long-lived assets. When impairment triggers are deemed to exist for any location, the estimated undiscounted future cash flows are compared to its carrying value. If the carrying value exceeds the undiscounted cash flows, an impairment charge equal to the difference between the carrying value and the fair value is recorded. The projections of future cash flows used in these analyses require the use of judgment and a number of estimates and projections of future operating results. If actual results differ from our estimates, additional charges for asset impairments may be required in the future. If future impairment charges are significant, this could have a material adverse effect on our results of operations.

There are risks related to our capital stock.

The public market for our common stock may be volatile and you could lose all or part of your investment. In the recent past, stocks, specifically those traded on the over-the counter (“OTC”) markets, generally have experienced high levels of volatility. Our common stock is traded on the OTC market under the symbol “WCVC” and is not eligible for trading on any national or regional securities exchange or the NASDAQ National Market. While that status is one of the Company’s long-term objectives, a more active trading market for our common stock may never develop, or if such a market develops, it may not be sustained.

In the past, many companies that have experienced volatility in the market price of their stock have become subject to securities class action litigation. We may be the target of this type of litigation in the future. Securities litigation against us could result in substantial costs and divert our management’s attention from other business concerns, which could seriously harm our business.

The Securities and Exchange Commission (“SEC”) has adopted regulations which generally define a “penny stock” to be an equity security that has a market price of less than $5.00 per share plus brokerage commissions, subject to specific exemptions. The market price of our common stock is less than $5.00 per share and therefore is a “penny stock” subject to the “penny stock” rules of the SEC. The trading market in our securities is currently limited and relatively illiquid which status makes transactions in our stock cumbersome and may reduce the value of an investment in our common stock. Brokers and dealers effecting transactions in “penny stock” must disclose certain information concerning the transaction, obtain a written agreement from the purchaser and determine that the purchaser is reasonably suitable to purchase the securities. These rules may restrict the ability of brokers or dealers to sell our common stock and may affect your ability to sell shares.

The Company does not expect to pay dividends in the foreseeable future and therefore you may not receive any return on your investment unless you sell your stock for a price greater than you paid for it.

The Company has never paid cash dividends on its common stock and has no plans to do so in the foreseeable future. The Company instead intends to retain earnings, if any, to develop and expand its business.

Provisions of our Articles of Incorporation and Bylaws may delay or prevent a take-over which may not be in the best interests of our shareholders.

Provisions of our articles of incorporation and bylaws may be deemed to have anti-takeover effects, which include when and by whom special meetings of our stockholders may be called, and may delay, defer or prevent a takeover attempt. In addition, certain provisions of the Nevada Revised Statutes (since the Company is organized in Nevada) also may be deemed to have certain anti-takeover effects which include that control of shares acquired in excess of certain specified thresholds will not possess any voting rights unless these voting rights are approved by a majority of a corporation's disinterested stockholders.

Any investment in our securities involves a high degree of risk.

Investors should consider carefully the risks and uncertainties described above, and all other information in this annual report and in any reports hereafter filed with the SEC before deciding whether to purchase or hold our securities. Additional risks and uncertainties not currently known to us or that we currently deem immaterial may also become important factors that may harm our business. The occurrence of any of the risks described in this annual report could harm our business. The trading price of our securities could decline due to any of these risks and uncertainties, and investors may lose part or all of their investment.

We may, in the future, issue additional securities, which would reduce investors’ percent of ownership and may dilute our share value.

Our Articles of Incorporation authorize us to issue 650,000,000 shares of common stock and 10,000,000 shares of blank check preferred stock. As of the date of this filing, we had 41,050,532 shares of common stock and 500,000 preferred shares outstanding. Accordingly, we may issue up to an additional 608,949,468 shares of common stock and 9,500,000 shares of blank check preferred stock. The future issuance of common stock may result in substantial dilution in the percentage of our common stock held by our then existing shareholders. We may value any common stock issued in the future on an arbitrary basis including for services or acquisitions or other corporate actions that may have the effect of diluting the value of the shares held by our stockholders, and might have an adverse effect on any trading market for our common stock. Our Board of Directors may designate the rights, terms and preferences of our authorized but unissued preferred shares at its discretion including conversion and voting preferences without notice to our shareholders.

We are an "emerging growth company," and we cannot be certain if the reduced reporting requirements applicable to emerging growth companies will make our common stock less attractive to investors.

We are an "emerging growth company," as defined in the JOBS Act. For as long as we continue to be an emerging growth company, we may take advantage of exemptions from various reporting requirements that are applicable to

other public companies that are not emerging growth companies, including not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments, not previously approved. We could be an emerging growth company for up to five (5) years, although we could lose that status sooner if our revenues exceed $1,000,000,000, if we issue more than $1,000,000,000 in non-convertible debt in a three (3) year period or if the market value of our common stock held by non-affiliates exceeds $700,000,000 as of any June 30th date before that time, in which case we would no longer be an emerging growth company as of the following June 30th. We cannot predict whether investors will find our common stock less attractive because we may rely on these exemptions. If some investors find our common stock less attractive as a result, there may be a less active trading market for our common stock and our stock price may be more volatile.

We have elected to use the extended transition period for complying with new or revised accounting standards under Section 102(b)(2) of the JOBS Act, that allows us to delay the adoption of new or revised accounting standards that have different effective dates for public and private companies until those standards apply to private companies. As a result of this election, our financial statements may not be comparable to companies that comply with public company effective dates.

Item 1B. Unresolved Staff Comments.

None.

Item 2. Properties.

The Company’s principal executive office, for all operations, is located at ~~15400~~6610 W.Holman ~~64th Avenue~~St., Unit ~~E1A~~301, Arvada, Colorado~~. Additionally~~, ~~the~~80004. The Company ~~currently~~leases ~~operates~~ six (6) restaurant ~~locations~~spaces infrom ~~the~~unrelated ~~greater~~parties. ~~metropolitan~~The ~~area~~lease offor ~~Denver,~~the ~~Colorado. The~~ El Senior Sol and Illegal Burger operating in Evergreen, Colorado ~~have~~expired aon ~~one~~August ~~year~~31, ~~lease~~2019. ~~expiring~~Since inthat ~~August~~time, ~~2019~~both locations have been operating on a month-to-month basis. The lease for the Illegal Burger property operating in Arvada, Colorado expires in January 2021. The lease has a one-time automatic renewal for 5 years. The lease for the Illegal Burger property operating in Capital Hill, Denver, Colorado expires in April of 2021. The lease has a one time automatic renewal for 5 years. The lease for the Illegal Burger property operating in Writer Square, Denver, Colorado expires in October 2025, and has 2 automatic renewal for 5 years each renewal. The lease for the Illegal Burger property operating in Glendale, Denver, Colorado expires in October 2028~~. The~~ ~~lease~~and has 2 automatic renewals for 5 years each. The lease for the Illegal Pizza property operating in Lauderhill, Florida expires in March 2027.

Item 3. Legal Proceedings.

OnFrom ~~October~~time 8,to ~~2018,~~time we may be involved in litigation relating to claims arising out of the ~~creditor~~operation ~~holding~~of our business in the ~~First~~normal ~~Amended~~course ~~Senior~~of ~~Secured~~business. ~~Note~~Other ~~from~~than ~~Illegal~~as ~~Burger~~described below, ~~LLC~~as ~~filed~~of ~~suit~~the indate ~~Broward~~of ~~County,~~this ~~Florida.~~Annual ~~The~~Report ~~Company~~we ~~expects~~are tonot ~~either~~aware ~~negotiate~~of potential dispute or pending litigation and are not currently involved in a ~~settlement~~litigation ~~agreement~~proceeding or governmental actions the outcome of which in management’s opinion would be material to ~~vigorously~~our ~~defend~~financial ~~this~~condition ~~action~~or results of operations. An adverse result in these or other matters may have, individually or in the aggregate, a material adverse effect on our business, financial condition or operating results.

On October 8, 2018, the creditor holding the First Amended Senior Secured Note from Illegal Burger, LLC filed suit in Broward County, Florida. The Company expects to either negotiate a settlement agreement or to vigorously defend this action. In May 2020 the U.S. Securities and Exchange Commission, (SEC), filed a civil action alleging fraud against this creditor. The SEC also appointed a court supervised receiver of this creditor, who has stayed all current litigation involving this creditor. The Company expects to reach a settlement with this receiver when they lift the stay.

Item 4. Mine Safety Disclosures.

Not applicable.

177

PART II

Our common stock is currently quoted on the OTC marketplace under the symbol “WCVC”. The table below sets forth the high and low bid prices of the Company’s common stock during the periods indicated as reported on OTC Markets Inc. (www.otcmarkets.com). The quotations are inter-dealer prices without retail markups, markdowns or commissions, and may not necessarily represent actual transactions.

OTC Markets
Quarter Ended	High	Low
December 31, 2017	$6.00	$0.17
March 31, 2018	$0.35	$0.022
June 30, 2018	$0.22	$0.029
September 30, 2018	$0.058	$0.012
December 31, 2018	$0.282	$0.017
March 31, 2019	$0.09	$0.032
June 30, 2019	$0.089	$0.0421
September 30, 2019	$0.065	$0.010
December 31, 2019	$0.0475	$0.0003

Penny Stock Rules

The Securities and Exchange Commission has also adopted rules that regulate broker-dealer practices in connection with transactions in penny stocks. Penny stocks are generally equity securities with a price of less than $5.00 (other than securities registered on certain national securities exchanges or quoted on the NASDAQ system, provided that current price and volume information with respect to transactions in such securities is provided by the exchange or system).

A purchaser is purchasing penny stock which limits the ability to sell the stock. Our shares constitute penny stock under the Securities and Exchange Act. The shares will remain penny stocks for the foreseeable future. The classification of penny stock makes it more difficult for a broker-dealer to sell the stock into a secondary market, which makes it more difficult for a purchaser to liquidate his/her investment. Any broker-dealer engaged by the purchaser for the purpose of selling his or her shares in us will be subject to Rules 15g-1 through 15g-10 of the Securities and Exchange Act. Rather than creating a need to comply with those rules, some broker-dealers will refuse to attempt to sell penny stock.

The penny stock rules require a broker-dealer, prior to a transaction in a penny stock not otherwise exempt from those rules, to deliver a standardized risk disclosure document, which:


	●	contains a description of the nature and level of risk in the market for penny stock in both public offerings and secondary trading;

	●	contains a brief, clear, narrative description of a dealer market, including “bid” and “ask” price for the penny stock and the significance of the spread between the bid and ask price;

	●	contains a toll-free telephone number for inquiries on disciplinary actions;

	●	defines significant terms in the disclosure document or in the conduct of trading penny stocks; and

	●	contains such other information and is in such form (including language, type, size and format) as the SEC shall require by rule or regulation.

The broker-dealer also must provide, prior to effecting any transaction in a penny stock, to the customer:


	●	the bid and offer quotations for the penny stock;

	●	the compensation of the broker-dealer and its salesperson in the transaction;

	●	the number of shares to which such bid and ask prices apply, or other comparable information relating to the depth and liquidity of the market for such stock; and

	●	monthly account statements showing the market value of each penny stock held in the customer’s account.

In addition, the penny stock rules require that prior to a transaction in a penny stock not otherwise exempt from those rules; the broker-dealer must make a special written determination that the penny stock is a suitable investment for the purchaser and receive the purchaser’s written acknowledgment of the receipt of a risk disclosure statement, a written agreement to transactions involving penny stocks, and a signed and dated copy of a written suitability statement. These disclosure requirements will have the effect of reducing the trading activity in the secondary market for our stock because it will be subject to these penny stock rules. Therefore, shareholders may have difficulty selling their securities.

Reports

We are subject to certain filing requirements and will furnish annual financial reports to our shareholders, audited by our independent registered public accounting firm, and will furnish un-audited quarterly financial reports in our quarterly reports filed electronically with the SEC. All reports and information filed by us can be found at the SEC website, www.sec.gov.

Transfer Agent

The Company has retained VStock Transfer, LLC as its transfer agent. Its address is 18 Lafayette Place, Woodmere, New York, 11598. Its telephone number is 212-828-8436.

Holders

As of December 31, ~~2018~~2019 there were approximately 9751 shareholders of record of the Company’s common stock, and 1 shareholder of the Company’s preferred stock.

Dividend Policy

There are no restrictions in our articles of incorporation or bylaws that prevent us from declaring dividends. The Nevada Revised Statutes, however, do prohibit us from declaring dividends where after giving effect to the distribution of the dividend:

1. we would not be able to pay our debts as they become due in the usual course of business, or;

2. our total assets would be less than the sum of our total liabilities plus the amount that would be needed to satisfy the rights of shareholders who have preferential rights superior to those receiving the distribution.

We have not declared any dividends and we do not plan to declare any dividends in the foreseeable future.

Equity Compensation Plan Information

We do not have any equity compensation plans.

~~Dividends~~9

We have never paid cash dividends and have no plans to do so in the foreseeable future. Our future dividend policy will be determined by our board of directors and will depend on a number of factors, including financial condition and performance, our cash needs and expansion plans, income tax consequences, and the restrictions that applicable laws, our current preferred stock instruments, and our future credit arrangements may then impose.

Securities Authorized for Issuance Under Equity Compensation Plans

Not applicable.

Recent Sales of Unregistered Securities

In the ~~first~~second quarter ~~2018~~2020, the Company issued 100,000 ~~shares of common stock in exchange for services valued at $22~~,~~600. The Company issued 340,~~000 shares of common stock valued at $8510,000 ~~as a debt inducement. The Company also issued 1,155,829 shares of common stock valued at $216,140~~ to settle $166,~~528~~000 of convertible debt ~~and 50,898 shares of common stock valued at $9,518 upon the cashless exercise of a warrant.~~

In the ~~second~~first quarter ~~2018~~2020, the Company issued ~~650~~2,~~000~~035,049,580 shares of common stock invalued ~~exchange~~at ~~for~~$491,505 ~~services~~to ~~valued~~settle at $59114,~~000~~658 of convertible debt. ~~The~~In ~~Company~~addition, ~~also~~the Company issued 356,~~349~~000,~~783~~000 shares of common stock ~~valued~~in atexchange ~~$266,729~~for ~~to settle~~ $9439,~~226~~200 ofin ~~convertible debt~~cash.

In the ~~third~~fourth quarter ~~2018~~2019, the Company issued ~~750~~2,500,000 shares of common stock inas ~~exchange~~an inducement for ~~services~~the extension of convertible debt, valued at $18157,~~750~~500. The Company issued ~~764~~3,~~205~~997,266 shares of common stock valued at $19286,~~869~~044 to settle $713,~~102~~990 of convertible debt pursuant to the modification of terms to fixed conversion rate. The Company issued 5798,~~111~~519,~~000~~055 shares of common stock valued at $1,200,597 to settle $445,367 of convertible debt. The Company issued 36,348,494 shares of common stock in exchange for $2741,~~220~~053 in cash.

In the third quarter 2019, the Company issued 1,500,000 shares of common stock valued at $77,250 to settle $25,500 of convertible debt. The Company issued 1,537,246 shares of common stock valued at $57,647 for $32,282 of a Securities Purchase Agreement (SPA) funded in October 2018. The Company issued 6,404,057 shares of common stock in exchange for $120,423 in cash.

In the second quarter 2019, the Company issued 1,933,333 shares of common stock as an inducement for the extension of convertible debt, valued at $94,730. The Company issued 3,900,000 shares of common stock valued at $316,500 to settle $39,000 of convertible debt pursuant to the modification of terms to fixed conversion rate. The Company issued 3,333,333 shares of common stock in exchange for services valued at $239,333. The Company issued 5,000,000 shares of common stock in exchange for $50,000 in cash and $279,990 in fixed assets. The Company issued 386,589 shares of common stock in exchange for one-half of the first year rent on the Company’s corporate office, valued at $26,520. The Company issued 1,247,449 shares of common stock in exchange for $67,124 in cash.

In the first quarter 2019, the Company issued 1,713,307 shares of common stock as a commitment fee for its equity line of credit, valued at $90,000. The Company issued 5,305,000 shares of common stock valued at $300,885 to settle $18,568 of convertible debt pursuant to the modification of terms to fixed conversion rate.

In the fourth quarter 2018 the Company issued 10,000,000 shares to the Company’s principal officer in settlement of $100,000 of accrued payroll due to him. The Company issued 4,625,000 shares of common stock valued at $289,375 to settle $16,187 of convertible debt.

In the second quarter 2018 the Company issued 650,000 shares of common stock in exchange for services valued at $59,000. The Company also issued 3,349,783 shares of common stock valued at $266,729 to settle $94,226 of convertible debt.

In the first quarter 2018 the Company issued 100,000 shares of common stock in exchange for services valued at $22,600. The Company issued 340,000 shares of common stock valued at $85,000 as a debt inducement. The Company also issued 1,155,829 shares of common stock valued at $216,140 to settle $16,528 of convertible debt and 50,898 shares of common stock valued at $9,518 upon the cashless exercise of a warrant.

Purchase of Equity Securities by the Issuer and Affiliated Purchasers

In April and May 2018, the Company’s CEO and his spouse contributed 22,000,000 shares of the Company’s common stock valued at $3,140,000 to the Company which cancelled the shares pursuant to a request from OTC ~~Markets as part of the approval to list the Company’s common stock on the OTCQB.~~

Markets as part of the approval to list the Company’s common stock on the OTCQB.

In September 2018, the Company repurchased and retired 1,546,727 shares of common stock for $34,000 in cash under a settlement agreement with a convertible note holder.

Item 6. Selected Financial Data.

As a ~~smaller~~Smaller ~~reporting~~Reporting ~~company~~Company, as defined by Rule 12b-2 of the Exchange Act and in Item 10(f)(1) of Regulation S-K, we are electing scaled disclosure reporting obligations and therefore are not required to provide the information ~~required~~requested by this ~~item~~Item.

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following management’s discussion and analysis (“MD&A”) should be read in conjunction with West Coast Ventures Group Corp. (“WCVC”) financial statements for the years ended December 31, ~~2018~~2019 and December 31, ~~2017~~2018, and the notes thereto. Additional information relating to WCVC is available through its brand ~~website~~websites: www.~~illegalburger~~westcoastventuresgroupcorp.com; ~~and~~www.illegalbrands.com; www.~~westcoastventuresgroupcorp~~illegalburger.com ; www.illegalpizza.restaurant and www.~~illegalbrands~~franchise.~~com~~illegalburger.com

Safe Harbor for Forward-Looking Statements

Certain statements included in this MD&A constitute forward-looking statements, including those identified by the expressions anticipate, believe, plan, estimate, expect, intend, and similar expressions to the extent they relate to ~~Nixon~~WCVC ~~Restaurant Group, Inc. (NRG)~~ or its management. These forward-looking statements are not facts, promises or guarantees; rather, they reflect current expectations regarding future results or events. These forward-looking statements are subject to risks and uncertainties that could cause actual results, activities, performance or events to differ materially from current expectations. These include risks related to revenue growth, operating results, industry, products and litigation, as well as the matters discussed in WCVC MD&A under Risk Factors. Readers should not place undue reliance on any such forward-looking statements. WCVC disclaims any obligation to publicly update or to revise any such statements to reflect any change in the Company’s expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

Overview

West Coast Ventures Group Corp. (“our”, “us”, “we” , “WCVC”, or the “Company”) was originally incorporated as Energizer Tennis, Corp. on June 16, 2011 in the State of Nevada. On October 4, 2017, effective for accounting purposes on ~~January~~June 130, 2017, WCVC entered into an agreement to acquire Nixon Restaurant Group, Inc. in a transaction accounted for as a reverse acquisition.

Nixon Restaurant Group, Inc. (“us”, “we” NRG or “our”) was formed on October 12, 2015, under the laws of the State of Florida. On October 19, 2015, we issued 20 million shares of common stock to acquire 100% of the ownership interests in J&F Restaurants, LLC, Illegal Burger, LLC and Illegal Burger Writer Square LLC, Colorado Limited Liability Companies controlled by our founder, James Nixon. As a result of the transaction, J&F Restaurants, LLC, Illegal Burger, LLC and Illegal Burger Writer Square LLC became our wholly-owned subsidiaries.

We own and operate the following ~~eight~~seven (87) restaurant locations, and ~~other~~own the following entities:

J&F Restaurants, LLC was formed in Colorado on March 12, 2011 and owns and operates El Senor Sol, a casual Mexican restaurant located at 29017 Hotel Way, Unit 103B Evergreen, Colorado 80439-8235 which opened in June 2011. ·

J&F Restaurants, LLC ~~also~~was formed in Colorado on March 12, 2011, and owns and operates ~~Illegal~~Kalaka ~~Burger,~~Mexican anKitchen ~~upscale~~(f/k/a ~~fast~~El Senor Sol), a casual Mexican restaurant located at 29017 Hotel Way, Unit ~~102B,~~ 103B Evergreen, Colorado 80439~~-8235~~ which opened in ~~August~~June ~~2013~~2011.

Illegal Burger, LLC was formed in Colorado on May 31, 2013 and owns and operates Illegal Burger, an upscale fast food restaurant located at 15400 W 64th Avenue, Unit E1A, Arvada Colorado 80007-6876which opened in January 2013,·

~~Illegal~~J&F ~~Burger~~Restaurants, ~~Writer Square~~ LLC ~~was~~also ~~formed in Colorado on April 19, 2015, and~~ owns and operates an Illegal Burger ~~location at 1512 Larimer Street~~, ~~Suite~~an R,upscale ~~Denver~~fast ~~Colorado~~casual ~~80202-1690~~restaurant ~~which~~located ~~opened~~at in29017 ~~January~~Hotel ~~2016~~Way, ~~and~~Unit ~~Illegal Burger Capital Hill~~102B, ~~LLC was formed in Colorado on March 4~~Evergreen, ~~2016 and owns and operates an Illegal Burger location at 609 North Grant Street, Denver~~ Colorado ~~80202-3506~~80439 which opened in ~~June~~August ~~2016~~2013.

Illegal Burger CitiSet, LLC was formed in Colorado on June 21, 2018 and owns and operates an Illegal Burger location at 652 South Colorado Boulevard, Unit A, Denver Colorado 80246 which opened in October 2018.11

~~Illegal Burger Franchising, LLC was formed in Colorado on January 17, 2019 to be the entity to sell franchises. Filing and offering documents for such are being prepared.~~·

Illegal ~~Brands~~Burger, LLC was formed in Colorado on ~~April~~May 131, ~~2019~~2013, toand beowns ~~the~~and ~~entity~~operates toIllegal ~~sell~~Burger, ~~products~~an upscale fast food restaurant located at 15400 W 64th Avenue, Unit E1A, Arvada, Colorado 80007 which ~~are~~opened ~~currently~~in ~~under~~January ~~development.~~2013,

Illegal Pizza Lauderhill, LLC was formed in Florida on February 5, 2019 to acquire an existing pizza restaurant location in Lauderhill, Florida which will be re-branded to the Company’s new concept - Illegal Pizza. The acquisition was consummated on April 9, 2019.·

Illegal ~~Brands~~Burger ~~IP,~~Writer Square LLC was formed in Colorado on April 1019, ~~2019~~2015, toand ~~own~~owns ~~the trademarked name~~ and ~~logo~~operates ~~for~~an Illegal Burger location in downtown Denver at 1512 Larimer Street, ~~Illegal~~Suite ~~Pizza~~R, ~~and~~Denver, ~~Illegal~~Colorado ~~Brands~~80202 which opened in January 2016.

Each of our Illegal Burger restaurants offers a full bar. Each of our restaurants offers a full menu and alcoholic beverages including liquor. Our Illegal Burger restaurants offer consumers a practical alternative to the over- commercialized healthy dining craze by offering a variety of burgers made with all never frozen, hormone-free beef, french fries, cheesy taters and adult and virgin milk shares including Nutella, peanut butter, caramel, Oreo, vanilla, chocolate and strawberry as well as a full bar. Our El Senor Sol restaurant offers Mexican food and a full bar including tequila menu.·

20Illegal Burger Capital Hill, LLC was formed in Colorado on March 4, 2016, and owns and operates an Illegal Burger location at 609 North Grant Street, Denver, Colorado 80202 which opened in June 2016.

Our principal executive office is located at 15400 W. 64th Avenue, Unit E1A, Arvada, Colorado 80007. Our telephone number is 303-423-1300. Our websites are: www.illegalburger.com and www.westcoastventuresgroupcorp.com and www.illegalbrands.com.·

~~Year~~Illegal ~~Ended~~Burger ~~December~~CitiSet, 31LLC was formed in Colorado on June 21, 2018, ~~Compared~~and toowns ~~the~~and ~~Year~~operates ~~Ended~~an ~~December~~Illegal 31Burger location at 652 South Colorado Boulevard, ~~2017~~Unit A, Denver, Colorado 80246 which opened in October 2018.

Illegal Burger Franchising, LLC was formed in Colorado on January 17, 2019, located at 6610 Holman St, Unit 301, Arvada, Colorado 80004 which is the entity offering for sale Illegal Burger franchises.

Illegal Pizza Lauderhill, LLC was formed in Florida on February 5, 2019, and owns and operates an Illegal Pizza location at 5401 N. University Dr, Lauderhill, Florida 33351 which opened in July 2019.

Illegal Brands, LLC was formed in Colorado on April 1, 2019, located at 6610 Holman St, Unit 301, Arvada, Colorado 80004 which is the entity to sell CBD products which are currently composed of CBD infused water and packets of soluble CBDs.

Illegal Brands IP LLC was formed in Colorado on April 9, 2019, located at 6610 Holman St., Unit 301, Arvada, Colorado, 80004, which owns all the intellectual property (i.e. trademarks, word marks, etc) for all of the operating entities.

Each of our Illegal Burger, Illegal Pizza and Kalaka Mexican Kitchen restaurants offers a full bar. Each of our restaurants offers a full menu and alcoholic beverages including liquor. Our Illegal Burger restaurants offer consumers a practical alternative to the over- commercialized healthy dining craze by offering a variety of burgers made with all never frozen, hormone-free beef, french fries, cheesy taters and adult and virgin milk shakes including Nutella, peanut butter, caramel, Oreo, vanilla, chocolate and strawberry as well as a full bar. Our new Illegal Pizza concept offers consumers a practical alternative to the over-commercialized healthy dining craze by offering a variety of pizzas made with all never frozen, natural toppings. Our Kalaka Mexican Kitchen restaurant offers Mexican food and a full bar including a tequila menu.

Our principal executive office is located at 6610 Holman St., Unit 301, Arvada, Colorado, 80004. Our telephone number is 303-537-7022. Our websites are: www.illegalburger.com; www.westcoastventuresgroupcorp.com; www.illegalbrands.com; www.illegalpizza.restaurant and www.franchise.illegalburger.com

Year Ended December 31, 2019 Compared to the Year Ended December 31, 2018

Revenue

For the year ended December 31, ~~2018~~2019, revenue generated was $3,~~054~~635,~~623~~234, as compared to $23,~~724~~054,~~713~~623 for the year ended December 31, ~~2017~~2018. The year over year increase of approximately 1219.1101% was mainly attributable to the CitiSet location being open for a full year and the opening of the Illegal Pizza location and expansion of our marketing, especially in the ~~Writer~~downtown ~~Square~~ location. Our year over year same store sales growth was 62.9877%.

Cost of Sales

Ongoing restaurant cost of sales increased to $23,~~921~~647,~~266~~950 from $2,~~535~~921,~~016~~266, or an increase of 1524.2588%. This increase was primarily due to a corresponding increase in sales for the year and the current trend of high personnel turnover in the industry as well as the minimum wage increase in Colorado, requiring higher cost of training of staff and our increased marketing costs. Our ongoing restaurant cost of sales, as a percentage of sales, was approximately 95100.6535% and 9395.0063% for the years ended December 31, ~~2018~~2019 and ~~2017~~2018, respectively.

Gross Profit

Our year over year same store restaurant operations gross profit was $171,302 and $189,697 for the years ended December 31, 2018 and 2017, respectively. Our year over year same store restaurant gross profit, as a percentage of sales, was approximately 5.61% and 7.0% for the years ended December 31, 2018 and 2017, respectively. (CitiSet was not open in 2017 and its results were not included in Gross Profit calculation).12

Our ~~year~~ongoing ~~over year same store~~ restaurant operations gross profit, aswas a$(12,716) ~~percentage~~and of$171,302 ~~gross~~for ~~sales~~the ~~was~~years ~~lower~~ended inDecember ~~2018~~31, ~~because~~2019 ofand ~~the~~2018, ~~current~~respectively. ~~trend~~Our ofongoing ~~high~~restaurant ~~personnel~~gross ~~turnover in the industry~~profit, ~~requiring~~as ~~higher~~a ~~cost~~percentage of ~~training~~sales, ofwas ~~staff~~approximately (0.35)% and ~~our~~5.61% ~~increased~~for ~~marketing~~the ~~costs~~years ~~and~~ended ~~CitiSet~~December ~~location~~31, ~~only~~2019 ~~being~~and ~~open~~2018, ~~for 3 months~~respectively.

Our ongoing restaurant gross profit, as a percentage of gross sales was lower in 2019 because of the current trend of high personnel turnover in the industry, requiring higher cost of training of staff and our increased marketing costs and Illegal Pizza only being open for 5 months with a very slow ramp up in sales.

General and Administrative Expenses

General and administrative expenses for the year ended December 31, ~~2018~~2019 were $~~919~~1,~~540~~613,975 compared to $~~500~~919,~~096~~540 for the year ended December 31, ~~2017~~2018. The increase was ~~additional~~the ~~costs~~result of ~~being~~dramatically aincreased ~~public~~professional ~~company~~fees, ~~and~~stock ~~our~~based ~~continued~~compensation ~~expenditures~~ to ~~ensure~~third ~~that~~parties ~~the restaurants are run efficiently~~ and ~~effectively.~~public Wecompany ~~implemented several new computer systems in this process as well as revised, updated and developed system and process manuals for both operations and training~~expenses.

Net Loss

Net loss for the year ended December 31, ~~2018~~2019 was $15,~~756~~293,~~548~~313 compared to a net loss of $~~637~~1,~~394~~756,548 for the year ended December 31, ~~2017~~2018. This increase in the loss was the result of many factors: the current trend of high personnel turnover in the industry, requiring higher cost of training of staff; our increased marketing costs; continued expenditures to ensure that the restaurants are run efficiently and effectively; implementation of several new computer systems in this process; revised, updated and developed system and process manuals for both operations and training; approximately $1,263,000 increase in derivative expense and approximately $1,400,00 increase in interest expense.

Liquidity and Capital Resources

Cash Flow Activities

Cash ~~increased~~decreased ~~from~~$9,635 to $0 at December 31, ~~2017~~2019 tofrom $9,635 at December 31, 2018. This ~~increase~~decrease was a result of ~~proceeds~~an ~~from~~increase ~~issuances~~in ofoperating ~~debt~~activities ~~and equity~~costs, ~~offset by~~ an increase in ~~operating and~~ investing costs and an increase in financing activities.

Financing Activities

During ~~2018~~2019, we received proceeds of third party debt of $~~421~~515,~~545~~000; $~~698~~1,~~000~~929,235 from proceeds of convertible debt and $27260,~~220~~881 for the sale of common stock; repaid $~~115~~206,~~759~~434 ~~from~~of a stockholder loan and repaid $~~171~~1,~~687~~385,845 of third party debt.

Critical Accounting Policies and Estimates

We consider our critical accounting policies to be those that require the more significant judgments and estimates in the preparation of financial statements, including the following:

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. Actual results could differ from those estimates.

Fair Value of Financial Instruments

The Company’s financial instruments consist of cash and cash equivalents, trade receivables, ~~payables,~~prepaid ~~accrued~~ expenses, payables and ~~indebtedness~~accrued expenses. Fair value estimates are made at a specific point in time, based on relevant market information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. We consider the carrying values of our financial instruments in the consolidated financial statements to approximate fair value, due to their short-term nature and/or market interest.

matters of significant judgment and therefore cannot be determined with precision. We consider the carrying values of our financial instruments in the consolidated financial statements to approximate fair value, due to their short-term nature.

Property and Equipment

Property and equipment are recorded at cost, less accumulated depreciation. Depreciation is provided for using straight-line methods over the estimated useful lives of the respective assets, usually three to seven years.

Valuation of Long-Lived Assets

We periodically evaluate long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If the estimated future cash flows (undiscounted and without interest charges) from the use of an asset were less than the carrying value, a write-down would be recorded to reduce the related asset to its estimated fair value. We do not believe that there has been any impairment to long-lived assets as of December 31, ~~2018~~2019 and ~~2017~~2018.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements as defined in Regulation S-K Item 303(a)(4).

Recent Accounting Pronouncements

(See “Recently Issued Accounting Pronouncements” in Note 2 3 of Notes to the Consolidated Financial Statements.)

Management’s Plans

Our plan is to continue to grow our business through the opening of additional strategic locations, and to actively promote the franchising side of our business. During the next twelve months we anticipate incurring costs related to (i) filing of Exchange Act reports; and, (ii) operating our businesses. We will require additional operating capital to maintain and continue operations. We will need to raise additional capital through debt or equity financing, and there is no assurance we will be able to raise the necessary capital.

Item 7A. Quantitative and Qualitative Disclosures About Market Risk.

As a smaller reporting company, we are not required to provide the information required by this item.

2214

Item 8. Consolidated Financial Statements and Supplementary Data.

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS Report of Independent Registered Public Accounting Firm F-1 Consolidated Balance Sheets F-2 Consolidated Statements of Operations F-3 Consolidated Statements of Stockholders’ Deficit F-4 Consolidated Statements of Cash Flows F-5 Notes to Consolidated Financial Statements F-6

23Report of Independent Registered Public Accounting Firm F-1 Consolidated Balance Sheets F-2 Consolidated Statements of Operations F-3 Consolidated Statements of Deficiency in Stockholders’ Equity F-4 Consolidated Statements of Cash Flows F-5 Notes to Consolidated Financial Statements F-6

~~REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM~~15

ToReport ~~the~~of ~~Board~~Independent ofRegistered ~~Directors~~Public ~~and~~Accounting Firm

~~Stockholders~~To the Board of Directors andStockholders of West Coast Ventures Group Corp.

Arvada, Colorado

Opinion on the ~~Consolidated~~ Financial Statements

We have audited the accompanying consolidated balance sheets of West Coast Ventures Group Corp. (the “Company”) at December 31, ~~2018~~2019 and ~~2017~~2018, and the related consolidated statements of operations, changes in deficiency in stockholders’ ~~deficit~~equity, and cash flows for each of the years in the two-year period ended December 31, ~~2018~~2019, and the related notes (collectively referred to as the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at December 31, ~~2018~~2019 and ~~2017~~2018, and the results of its operations and its cash flows for each of the years in the two-year period ended December 31, ~~2018~~2019, in conformity with accounting principles generally accepted in the United States of America.

~~The~~Going ~~accompanying~~Concern financial statements have been prepared assuming that the Company will continue as a going concern. As described in Note 3 to the consolidated financial statements, the Company had accumulated losses of approximately $3.7 million and negative working capital of approximately $2.7 million at December 31, 2018, which raises substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are described in Note 3. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our opinion is not modified with respect to this matter.Uncertainty

~~Basis~~The ~~for~~accompanying ~~Opinion~~financial statements have been prepared assuming that the Company will continue as a going concern. As described in Note 3 to the consolidated financial statements, the Company had consolidated losses of approximately $5.3 million and negative working capital of approximately $6.6 million at December 31, 2019, which raises substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are described in Note 3. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our opinion is not modified with respect to this matter.

~~These~~Basis ~~consolidated~~for financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.Opinion

WeThese ~~conducted~~consolidated ~~our~~financial ~~audits~~statements inare ~~accordance with~~ the ~~standards~~responsibility of the ~~PCAOB~~Company’s management. ~~Those~~Our ~~standards~~responsibility ~~require~~is ~~that we plan and perform the audit~~ to ~~obtain~~express ~~reasonable~~an ~~assurance~~opinion ~~about~~on ~~whether~~ the Company’s consolidated financial statements ~~are~~based ~~free~~on ofour ~~material misstatement, whether due to error or fraud~~audits. ~~The~~We ~~Company~~are isa ~~not~~public ~~required~~accounting tofirm ~~have,~~registered ~~nor~~with ~~were~~the wePublic ~~engaged~~Company toAccounting ~~perform,~~Oversight anBoard ~~audit~~(United ofStates) ~~its~~(PCAOB) ~~internal~~and ~~control over financial reporting. As part of our audits, we~~ are required to ~~obtain~~be anindependent ~~understanding~~with ofrespect ~~internal~~to ~~control~~the ~~over~~Company ~~financial~~in ~~reporting,~~accordance ~~but~~with ~~not~~the ~~for~~U.S. ~~the~~federal ~~purpose~~securities oflaws ~~expressing~~and anthe ~~opinion~~applicable onrules ~~the~~and ~~effectiveness~~regulations of the ~~Company’s~~Securities ~~internal~~and ~~control~~Exchange ~~over~~Commission ~~financial~~and ~~reporting.~~the ~~Accordingly, we express no such opinion~~PCAOB.

~~Our~~We ~~audits~~conducted ~~included~~our ~~performing~~audits ~~procedures~~in toaccordance ~~assess~~with the ~~risks~~standards of ~~material~~the ~~misstatement~~PCAOB. ofThose standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud,. ~~and~~The ~~performing~~Company ~~procedures~~is ~~that~~not ~~respond~~required to ~~those~~have, ~~risks.~~nor ~~Such~~were ~~procedures~~we ~~included~~engaged ~~examining,~~to ~~on a test basis~~perform, ~~evidence~~an ~~regarding~~audit ~~the~~of ~~amounts~~its ~~and~~internal ~~disclosures~~control inover ~~the consolidated~~ financial ~~statements~~reporting. ~~Our~~As part of our audits, ~~also~~we ~~included~~are ~~evaluating~~required ~~the~~to ~~accounting~~obtain ~~principles~~an ~~used~~understanding ~~and~~of ~~significant~~internal ~~estimates~~control ~~made~~over byfinancial ~~management~~reporting, asbut ~~well~~not asfor ~~evaluating~~ the ~~overall~~purpose ~~presentation~~ of expressing an opinion on the ~~consolidated~~effectiveness ~~financial~~of ~~statements.~~the WeCompany’s ~~believe~~internal ~~that~~control ~~our~~over ~~audits~~financial ~~provide~~reporting. aAccordingly, ~~reasonable~~we ~~basis~~express ~~for~~no ~~our~~such opinion.

~~/s/~~Our ~~Daszkal~~audits ~~Bolton~~included ~~LLP~~performing Weprocedures ~~have~~to ~~served~~assess asthe risks of material misstatement of the ~~Company’s~~consolidated ~~auditor~~financial ~~since~~statements, ~~2015~~whether due to error or fraud, and performing procedures that respond to those risks. ~~Fort~~Such ~~Lauderdale~~procedures included examining, ~~Florida~~on ~~April~~a 16test basis, ~~2019~~evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

~~F-1~~/s/ Daszkal Bolton LLP

~~WEST~~We ~~COAST~~have ~~VENTURES~~served ~~GROUP~~as ~~CORP.~~the Company’s auditor since 2015.

~~Consolidated~~Fort ~~Balance~~Lauderdale, ~~Sheets~~Florida

~~December~~July 311, 2020

ASSETS	2018	2017
CURRENT ASSETS
Cash	$ 9,635	$ -
Receivables	32,303	32,020
Inventory	19,984	17,163
Prepaid expenses	30,605	18,245
Assets of discontinued operations	2,461	2,461
Total current assets	94,988	69,889
FIXED ASSETS
Equipment	277,296	235,738
Leasehold improvements	207,546	172,587
Total fixed assets	484,842	408,325
Less: accumulated depreciation	(250,394)	(171,267)
Net total fixed assets	234,448	237,058
OTHER ASSETS
Deposits and other assets	43,314	29,347
Intangible assets, net	87,556	121,760
Total other assets	130,870	151,107
Total Assets	$ 460,306	$ 458,054
LIABILITIES AND STOCKHOLDERS’ DEFICIT
CURRENT LIABILITIES
Accounts payable	$ 60,222	$ 128,312
Accrued expenses	607,525	433,534
Deferred rent	64,661	50,688
Stockholder loans	206,434	90,675
Third party advances	265,500	-
Notes payable to third parties	692,879	661,858
Convertible notes payable to third parties, net of discounts	250,276	45,231
Fair value of derivative liabilities	201,891	251,438
Liabilities of discontinued operations	481,558	481,558
Total current liabilities	2,830,946	2,143,294
Total Liabilities	2,830,946	2,143,294
STOCKHOLDERS’ DEFICIT
Series A Preferred stock, $0.001 par value, 10,000,000 shares authorized, 500,000 and 500,000 shares issued and outstanding	500	500
Common stock, $0.001 par value, authorized 250,000,000 shares; 33,906,532 and 30,556,544 shares issued and outstanding	33,907	30,557
Additional paid-in capital	1,256,827	189,029
Accumulated deficit	(3,661,874)	(1,905,326)
Total stockholders’ deficit	(2,370,640)	(1,685,240)
Total Liabilities and Stockholders’ Deficit	$ 460,306	$ 458,054

F-1

~~The~~WEST ~~accompanying~~COAST ~~notes~~VENTURES ~~are~~GROUP anCORP. ~~integral part of the consolidated financial statements~~

~~F-2~~Consolidated Balance Sheets

~~WEST~~December ~~COAST VENTURES GROUP CORP.~~ 31,

Consolidated Statements of Operations


ASSETS	2019	2018
CURRENT ASSETS
Cash	$ -	$ 9,635
Receivables	71,045	32,303
Inventory	35,663	19,984
Prepaid expenses	31,268	30,605
Assets of discontinued operations	2,462	2,461
Total current assets	140,438	94,988
FIXED ASSETS
Equipment	569,715	277,296
Leasehold improvements	231,493	207,546
Total fixed assets	801,208	484,842
Less: accumulated depreciation	(342,249)	(250,394)
Net total fixed assets	458,959	234,448
OTHER ASSETS
Lease right of use asset	1,489,737	-
Deposits and other assets	43,374	43,314
Intangible assets, net	163,154	87,556
Total other assets	1,696,265	130,870
Total Assets	$ 2,295,662	$ 460,306
LIABILITIES AND DEFICIENCY IN STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	$ 157,556	$ 60,222
Accrued expenses	788,588	607,525
Deferred rent	-	64,661
Operating lease, current portion	295,214	-
Stockholder loan	-	206,434
Third party advances	-	265,500
Notes payable to third parties	878,079	692,879
Convertible notes payable to third parties, net of discounts	879,849	250,276
Fair value of derivative liabilities	2,740,054	201,891
Common stock issuable	533,218	-
Liabilities of discontinued operations	481,558	481,558
Total current liabilities	6,754,116	2,830,946
LONG TERM LIABILITIES
Operating leases, net of current portion	1,243,129	-
Total long term liabilities	1,243,129	-
Total Liabilities	7,997,245	2,830,946
DEFICIENCY IN STOCKHOLDERS’ EQUITY
Series A Preferred stock, $0.001 par value, 10,000,000 shares authorized, 500,000 and 0 shares issued and outstanding	500	500
Common stock, $0.001 par value, authorized 10,000,000,000 and 250,000,000 shares; 918,470,359 and 33,906,532 shares issued and outstanding	918,470	33,907
Additional paid-in capital	2,334,634	1,256,827
Accumulated deficit	(8,955,187)	(3,661,874)
Total deficiency in Stockholders’ equity	(5,701,583)	(2,370,640)
Total Liabilities and Deficiency in Stockholders’ Equity	$ 2,295,662	$ 460,306

~~Year~~The ~~ended~~accompanying ~~December~~notes ~~31,~~are an integral part of the consolidated financial statements

	2018	2017
REVENUES
Restaurant revenue, net of discounts	$ 3,054,623	$ 2,724,713
COST AND EXPENSES
Restaurant operating costs:
Cost of sales - food and beverage	947,927	903,554
Wages and payroll taxes	1,029,896	828,442
Occupancy	545,733	507,438
Other restaurant costs	398,110	295,582
Depreciation and amortization	118,617	66,105
General and administrative expenses	919,540	500,096
Total costs and expenses	3,959,823	3,101,217
Loss from operations	(905,200)	(376,504)
Other expenses
Pre-opening expenses	9,550	-
Initial and change in fair value of derivative	(233,714)	121,438
Loss on debt conversion	417,088	-
Gain on extinguishment of debt	(144,054)	-
Interest expense	802,478	139,452
Total other expenses	851,348	260,890
Loss before income taxes	(1,756,548)	(637,394)
Provision for income taxes	0	0
Net loss	$ (1,756,548)	$ (637,394)
Basic and diluted net loss per share	$ (0.07)	$ (0.03)
Weighted average shares outstanding	24,334,196	19,444,040

F-2

~~The~~WEST ~~accompanying~~COAST ~~notes~~VENTURES ~~are~~GROUP anCORP. ~~integral part of the consolidated financial statements~~

~~F-3~~Consolidated Statements of Operations

~~WEST~~Year ~~COAST~~ended ~~VENTURES~~December ~~GROUP CORP.~~ 31,

Consolidated Statement of Stockholders’ Deficit


	2019	2018
REVENUES
Restaurant revenue, net of discounts	$ 3,635,234	$ 3,054,623

COST AND EXPENSES
Restaurant operating costs:
Cost of sales - food and beverage	1,187,076	947,927
Wages and payroll taxes	1,306,236	1,029,896
Occupancy	666,398	545,733
Other restaurant costs	488,240	398,110
Depreciation and amortization	107,934	118,617
General and administrative expenses	1,613,975	919,540

Total costs and expenses	5,369,859	3,959,823

Loss from operations	(1,734,625)	(905,200)

Other expenses
Pre-opening expenses	52,328	9,550
Change in fair value of derivatives	1,652,640	(233,714)
(Gain) Loss on debt conversion	-	417,088
Gain on extinguishment of debt	(358,188)	(144,054)
Interest expense	2,211,908	802,478

Total other expenses	3,558,688	851,348

Loss before income taxes	(5,293,313)	(1,756,548)

Provision for income taxes	0	0

Net loss	$ (5,293,313)	$ (1,756,548)

Basic and diluted net loss per share	$ (0.05)	$ (0.07)

Weighted average shares outstanding	115,527,424	24,334,196

	Number of Shares		Par Value		Additional Paid-in	Accumulated	Total Stockholders’
	Common	Preferred	Common	Preferred	Capital	Deficit	Deficit
BALANCE, January 1, 2017	14,976,544	-	$ 14,977	$ -	$ 619,362	$ (1,267,932)	$ (633,593)
Shares issued for cash	7,112,000	-	7,112	-	47,521	-	54,633
Shares issued in settlement of debt	3,000,000	-	3,000	-	27,000	-	30,000
Shares issued to effect acquisition	5,418,000	500,000	5,418	500	(515,804)	-	(509,886)
Shares issued for services	50,000	-	50	-	10,950	-	11,000
Net loss	-	-	-	-	-	(637,394)	(637,394)
BALANCE, December 31, 2017	30,556,544	500,000	30,557	500	189,029	(1,905,326)	(1,685,240)
Shares issued for cash	5,111,000	-	5,111	-	22,109	-	27,220
Shares issued in settlement of debt	9,894,817	-	9,895	-	509,031	-	518,226
Shares issued in settlement of accrued compensation	10,000,000	-	10,000	-	90,000	-	100,000
Shares issued for services	1,500,000	-	1,500	-	98,850	-	100,350
Shares issued as debt inducement	340,000	-	340	-	84,660	-	85,000
Shares issued at warrant exercise	50,898	-	51	-	9,467	-	9,518
Shares cancelled	(22,000,000)	-	(22,000)	-	22,000	-	-
Shares repurchased and cancelled	(1,546,727)	-	(1,547)	-	(26,294)	-	(27,841)
Beneficial Conversion feature	-	-	-	-	257,975		257,975
Net loss	-	-	-	-	-	(1,756,548)	(1,756,548)
BALANCE, December 31, 2018	33,906,532	500,000	$ 33,907	$ 500	$ 1,256,827	$ (3,661,874)	$ (2,370,640)

The accompanying notes are an integral part of the consolidated financial statements

~~The accompanying notes are an integral part of the consolidated financial statements~~F-3

~~F-4~~WEST COAST VENTURES GROUP CORP.

~~WEST~~ Consolidated ~~COAST~~Statement ~~VENTURES~~of ~~GROUP~~Deficiency ~~CORP.~~in Stockholders’ Equity

Consolidated Statements of Cash Flows


	Number of Shares		Par Value		Additional Paid-in	Accumulated	Total Deficiency in Stockholders’
	Common	Preferred	Common	Preferred	Capital	Deficit	Equity

BALANCE, January 1, 2018	30,556,544	500,000	$ 30,557	$ 500	$ 189,029	$ (1,905,326)	$ (1,685,240)

Shares issued for cash	5,111,000	-	5,111	-	22,109	-	27,220
Shares issued in settlement of debt	9,894,817	-	9,895	-	509,031	-	518,926
Shares issued as compensation	10,000,000	-	10,000	-	90,000	-	100,000
Shares issued for services	1,500,000	-	1,500	-	98,850	-	100,350
Shares issued as debt inducement	340,000	-	340	-	84,660	-	85,000
Shares issued at warrant exercise	50,898	-	51	-	9,467	-	9,518
Shares cancelled	(22,000,000)	-	(22,000)	-	22,000	-	-
Shares repurchased and cancelled	(1,546,727)	-	(1,547)	-	(26,294)	-	(27,841)
Beneficial Conversion Feature	-	-	-	-	257,975	-	257,975
Net loss	-	-	-	-	-	(1,756,548)	(1,756,548)

BALANCE, December 31, 2018	33,906,532	500,000	33,907	500	1,256,827	(3,661,874)	(2,370,640)
Shares issued for cash	45,537,246	-	45,537	-	215,344	-	260,881
Shares issued in settlement of debt	824,060,019	-	824,060	-	(131,153)	-	692,907
Shares issued for prepaid rent	386,589	-	386	-	26,133	-	26,519
Shares issued for services	3,333,333	-	3,333	-	236,000	-	239,333
Shares issued as debt inducement	6,246,640	-	6,247	-	341,443	-	347,690
Shares issued for fixed assets and cash	5,000,000	-	5,000	-	324,990	-	329,990
Offering costs	-	-	-	-	(20,000)	-	(20,000)
Beneficial Conversion Feature	-	-	-	-	85,050	-	85,050
Net loss	-	-	-	-	-	(5,293,313)	(5,293,313)

BALANCE, December 31, 2019	918,470,359	500,000	$ 918,470	$ 500	$ 2,334,634	$ (8,955,187)	$ (5,701,583)

~~Year~~The ~~ended~~accompanying ~~December~~notes ~~31,~~are an integral part of the consolidated financial statements

	2018	2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,756,548)	$ (637,394)
Adjustments to reconcile net loss to net cash used in operating activities:
Share based compensation for services	200,350	11,000
Depreciation and amortization	118,617	66,105
Initial and change in fair value of derivative	(233,714)	121,438
Loss on debt conversion	417,088	-
Gain on debt extinguishment	(144,054)	-
Amortization of debt discounts	529,061	-
Vendor incentive	44,000	-
Amortization of deferred rent	5,977	-
Changes in operating assets:
Increase in receivables	(283)	(32,020)
Increase in inventory	(2,821)	(1,622)
(Increase) decrease in prepaid expenses	(12,359)	7,818
Increase in deposits and other assets	(13,967)	(12,600)
Changes in operating liabilities:
(Decrease) increase in accounts payable	(68,091)	103,216
Increase in accrued expenses	73,991	172,827
Increase in deferred rent	17,993	3,865
Net cash used in operating activities	(824,760)	(197,367)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets	(71,156)	(13,800)
Reimbursement from landlord	54,000	-
Purchase of intangible assets	(5,286)	-
Net cash used in investing activities	(22,442)	(13,800)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock for cash	27,220	50,000
Repurchase of common stock under settlement agreement	(34,000)	-
Proceeds from issuance of convertible notes payable for cash	698,000	160,000
Payments on settlement agreement	(200,000)	-
Proceeds from stockholder loan payable	115,759	17,874
Proceeds from third party notes payable and advances	421,545	166,082
Payments on third party notes payable	(171,687)	(259,277)
Net cash provided in financing activities	856,837	134,679
Net increase (decrease) in cash	9,635	(76,488)
CASH, beginning of year	-	76,487
CASH, end of year	$ 9,635	$ -
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	$ 67,455	$ 79,109
Cash paid for income taxes	$ -	$ -
Non-Cash Financing Activities:
Issuance of common stock upon conversion of debt	$ 518,926	$ 30,000
Issuance of note payable for fixed assets	$ 60,704	$ -
Issuance of common stock as debt inducement	$ 85,000	$ -
Issuance of common stock upon warrant exercise	$ 9,518	$ -
Issuance of common stock in reverse acquisition	$ -	$ (508,986)

F-4

~~The~~WEST ~~accompanying~~COAST ~~notes~~VENTURES ~~are~~GROUP anCORP. ~~integral part of the consolidated financial statements~~

~~F-5~~Consolidated Statements of Cash Flows

~~WEST~~Year ~~COAST~~ended ~~VENTURES~~December ~~GROUP CORP.~~ 31,

Notes to Consolidated Financial Statements


	2019	2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (5,293,313)	$ (1,756,548)
Adjustments to reconcile net loss to net cash used in operating activities:
Share based compensation for services	329,333	200,350
Depreciation and amortization	107,934	118,617
Change in fair value of derivatives	1,652,640	(233,714)
Loss on debt conversion	-	417,088
Gain on debt extinguishment	(358,188)	(144,054)
Amortization of debt discounts	1,566,721	529,061
Vendor incentive	-	44,000
Amortization of deferred rent	-	5,977
Cumulative change from implementing new accounting standard	13,234	-
Changes in operating assets:
Increase in receivables	(38,742)	(283)
Increase in inventory	(15,679)	(2,821)
Increase in prepaid expenses	(664)	(12,359)
Increase in deposits and other assets	(60)	(13,967)
Changes in operating liabilities:
Increase (decrease) in accounts payable	97,333	(68,091)
Increase in accrued expenses	635,633	73,991
Increase in deferred rent	-	17,993
Net cash used in operating activities	(1,303,818)	(824,760)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets	(36,376)	(71,156)
Reimbursement from landlord	-	54,000
Purchase of intangible assets	(92,278)	(5,286)
Net cash used in investing activities	(128,654)	(22,442)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock for cash	260,881	27,220
Repurchase of common stock under settlement agreement	-	(34,000)
Proceeds from issuance of convertible notes payable for cash	1,929,235	698,000
Payments on settlement agreement	-	(200,000)
Repayment of stockholder loans payable - proceeds from stockholder loans	(206,434)	115,759
Proceeds from third party for shares to be issued	310,000	-
Proceeds from third party notes payable and advances	515,000	421,545
Payments on third party notes payable	(1,385,845)	(171,687)
Net cash provided by financing activities	1,422,837	856,837
Net (decrease) increase in cash	(9,635)	9,635
CASH, beginning of year	9,635	-
CASH, end of year	$ -	$ 9,635
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	$ 221,592	$ 67,455
Cash paid for income taxes	$ -	$ -
Non-Cash Financing Activities:
Issuance of common stock upon conversion of debt	$ 692,905	$ 518,926
Issuance of note payable for fixed assets	$ 51,479	$ 60,704
Issuance of common stock as debt inducement	$ 258,441	$ 85,000
Issuance of common stock upon warrant exercise	$ -	$ 9,518

~~(1)~~The ~~NATURE~~accompanying OFnotes ~~OPERATIONS~~are an integral part of the consolidated financial statements

West Coast Ventures Group Corp. (“our”, “us”, “we”, “WCVC”or the “Company”) was originally incorporated as Energizer Tennis, Corp. on June 16, 2011 in the State of Nevada. On October 4, 2017, effective for accounting purposes on June 30, 2017, WCVC entered into an agreement to acquire Nixon Restaurant Group, Inc. in a transaction accounted for as a reverse acquisition. Nixon Restaurant Group, Inc. (“NRG”) was formed on October 12, 2015, under the laws of the State of Florida. On October 19, 2015, NRG issued 20 million shares of common stock to acquire 100% of the ownership interests in J&F Restaurants, LLC, Illegal Burger, LLC and Illegal Burger Writer Square LLC, Colorado Limited Liability Companies, under common ownership. The transaction was accounted for as a corporate reorganization between entities under common control. These consolidated financial statements reflect the reorganized capital structure retrospectively for all periods presented.-5

~~The~~WEST ~~Company~~COAST ~~operates~~VENTURES 6GROUP ~~restaurants in the Denver, Colorado metro area~~CORP. El Senor Sol - Evergreen is a Mexican restaurant which has been in operation for in excess of five full years. The Company opened the first Illegal Burger restaurant in August 2013. It is co-located with the El Senor Sol restaurant. The second Illegal Burger was opened in Arvada in April 2014. The third Illegal Burger is located in Writer Square in downtown Denver and opened in late January 2016. The fourth Illegal Burger is located in the Capital Hill area of Denver and opened in late June 2016. The fifth Illegal Burger is located in Glendale and opened in early October 2018.

~~The~~Notes ~~Company plans~~ to ~~continue~~Consolidated ~~opening~~Financial ~~Illegal Burger restaurants, a quick casual high end restaurant with full liquor licenses. The Company expects to locate in other areas of the country over time.~~Statements

~~The accompanying consolidated financial statements include the activities of Nixon Restaurant Group, Inc., J&F Restaurant, LLC~~ (~~El Senor and Illegal Burger Evergreen~~1), ~~Illegal~~NATURE ~~Burger,~~OF ~~LLC (Arvada), Illegal Burger Writer Square, LLC, Illegal Burger Capital Hill, LLC, and Illegal Burger CitiSet, LLC, its wholly owned subsidiaries.~~OPERATIONS

West Coast Ventures Group Corp. (2“our”, “us”, “we”, ”WCVC” or the “Company”) ~~BASIS~~was OForiginally ~~PRESENTATION~~incorporated ~~AND~~as ~~USE~~Energizer OFTennis, ~~ESTIMATES~~Corp. on June 16, 2011 in the State of Nevada. On October 4, 2017, effective for accounting purposes on June 30, 2017, WCVC entered into an agreement to acquire Nixon Restaurant Group, Inc. in a transaction accounted for as a reverse acquisition. Nixon Restaurant Group, Inc. (“NRG”) was formed on October 12, 2015, under the laws of the State of Florida. On October 19, 2015, NRG issued 20 million shares of common stock to acquire 100% of the ownership interests in J&F Restaurants, LLC, Illegal Burger, LLC and Illegal Burger Writer Square LLC, Colorado Limited Liability Companies, under common ownership. The transaction was accounted for as a corporate reorganization between entities under common control. These consolidated financial statements reflect the reorganized capital structure retrospectively for all periods presented.

The Company operates 6 restaurants in the Denver, Colorado metro area and 1 restaurant in the Ft. Lauderdale, Florida metro area. El Senor Sol - Evergreen is a) ~~Basis~~Mexican restaurant which was opened in 2011. The Company opened the first Illegal Burger restaurant in August 2013. It is co-located with the El Senor Sol restaurant. The second Illegal Burger was opened in Arvada in April 2014. The third Illegal Burger is located in Writer Square in downtown Denver and opened in January 2016. The fourth Illegal Burger is located in the Capital Hill area of ~~Presentation~~Denver and opened in June 2016.The fifth Illegal Burger is located in Glendale area of Denver and opened in October 2018. The first of the Company’s newest concept - Illegal Pizza - opened in Lauderhill, Florida in June 2019. The Company plans to continue opening Illegal Burger and Illegal Pizza restaurants, a quick casual high end restaurant with full liquor licenses. The Company expects to locate in other areas of the country over time.

The ~~comparative~~Company ~~amounts~~completed ~~presented~~its inIllegal ~~these~~Burger ~~consolidated~~Franchise ~~financial~~Offering ~~statements~~documents ~~are~~in ~~the~~May ~~historical results of West Coast Ventures Group, Corp~~2019. ~~inclusive~~Illegal ofBurger ~~its~~Franchising ~~wholly~~has ~~owned~~retained ~~subsidiaries~~a ~~Nixon~~marketing ~~Restaurant~~group ~~Group,~~to ~~Inc.;~~assist ~~J&F~~with ~~Restaurant,~~the ~~LLC;~~start ~~Illegal~~up ~~Burger,~~of ~~LLC;~~its ~~Illegal~~offering ~~Burger~~of ~~Writer~~franchises ~~Square, LLC; Illegal Burger Capital Hill, LLC~~ and ~~Illegal~~to ~~Burger~~pre-qualify ~~CitiSet,~~potential ~~LLC~~franchisees. The Company ~~has~~hopes ~~reflected~~to ~~the~~have ~~pre-acquisition~~its ~~results~~first onfranchise asales ~~consolidated~~in ~~basis~~the ~~for~~third ~~all~~quarter ~~periods presented~~2020. ~~All intercompany balances and transactions have been eliminated in consolidation~~

b)The ~~Use~~Company ofbegan ~~Estimates~~its operations in Illegal Brands in June 2019, offering its own branded CBD infused water and CBD powder packets, first through its restaurant locations. Illegal Brands expects to offer these products to third parties on a wholesale basis.

The ~~preparation~~accompanying ofconsolidated financial statements ininclude ~~conformity with accounting principles generally accepted in~~ the ~~United~~activities ~~States~~of ~~requires~~West ~~management~~Coast toVentures ~~make~~Group ~~estimates~~Corp., ~~and~~Nixon ~~assumptions~~Restaurant ~~that~~Group, ~~affect~~Inc., ~~the~~J&F ~~reported~~Restaurant, ~~amounts~~LLC of(El ~~assets~~Senor and ~~liabilities~~Illegal ~~and~~Burger ~~disclosure~~Evergreen), ofIllegal ~~contingent~~Burger, ~~assets~~LLC ~~and~~(Arvada), ~~liabilities~~Illegal atBurger ~~the~~Writer ~~date~~Square, ofLLC, ~~the~~Illegal ~~financial~~Burger ~~statements~~Capital ~~and~~Hill, ~~the~~LLC, ~~reported~~Illegal ~~amounts~~Burger ofCitiSet, ~~revenues~~LLC, ~~and~~Illegal ~~expenses~~Pizza, ~~during~~LLC, ~~the~~Illegal ~~reporting~~Brands, ~~period.~~LLC, ~~Actual~~Illegal ~~results~~Burger ~~could~~Franchising, ~~differ~~LLC ~~from~~and ~~these~~Illegal ~~estimates.~~Brands ~~Significant~~IP, ~~estimates~~LLC, inits ~~the~~wholly ~~accompanying~~owned ~~consolidated financial statements involved the valuation of share-based compensation~~subsidiaries.

c(2) ~~Accounts~~SUMMARY ~~Receivable~~OF SIGNIFICANT ACCOUNTING POLICIES

~~Accounts~~a) ~~receivable~~Basis ~~is primarily the amount due from the merchant account processor~~ of ~~debit and credit card payments.~~Presentation

d)The ~~Fixed~~comparative ~~Assets~~amounts presented in these consolidated financial statements are the historical results of West Coast Ventures Group, Corp. inclusive of its wholly owned subsidiaries Nixon Restaurant Group, Inc.; J&F Restaurant, LLC; Illegal Burger, LLC; Illegal Burger Writer Square, LLC; Illegal Burger Capital Hill, LLC, Illegal Burger CitiSet, LLC, Illegal Pizza Lauderhill, LLC, Illegal Brands, LLC, Illegal Burger Franchising, LLC and Illegal Brands IP, LLC. All intercompany balances and transactions have been eliminated in consolidation.

~~Equipment~~b) isUse recorded at cost and depreciated over their estimated useful lives, generally three, five or seven years, using the straight-line method. Upon sale or retirement, the cost and related accumulated depreciation are eliminated from their respective accounts, and the resulting gain or loss is included in the results of ~~operations. Repairs and maintenance charges, which do not increase the useful lives of the assets, are charged to operations as incurred.~~ Estimates

FThe preparation of financial statements in conformity with accounting principles generally accepted in the United States 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. Actual results could differ from these estimates. Significant estimates in the accompanying consolidated financial statements involved the valuation of share-6based compensation.

~~WEST~~c) ~~COAST~~Property ~~VENTURES~~and ~~GROUP~~Equipment ~~CORP.~~

~~Notes~~All property and equipment are recorded at cost and depreciated over their estimated useful lives, generally three, five or seven years, using the straight-line method. Upon sale or retirement, the cost and related accumulated depreciation are removed from their respective accounts, and the resulting gain or loss is included in the results of operations. Repairs and maintenance charges, which do not increase the useful lives of the assets, are charged to ~~Consolidated~~operations ~~Financial~~as ~~Statements~~incurred.

~~(2) BASIS OF PRESENTATION AND USE OF ESTIMATES, continued~~F-6

e)WEST ~~Pre-opening~~COAST ~~Expenses~~VENTURES GROUP CORP.

~~The~~Notes ~~Company accumulates the non-capitalizable expenses, such as rent, staffing and training, prior~~ to ~~opening a new location and reports them on a separate line item in the~~ Consolidated ~~Statement~~Financial of Operations such that these costs do not skew results from ongoing restaurant operations. Beginning in the month in which a new location opens all ongoing expenses are then included with ongoing restaurant operations.Statements

f(2) ~~Rent~~SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued

~~The~~d) ~~Company’s leases generally contain escalating rent payments over the lease term as well as optional renewal periods. The Company accounts for its leases by recognizing rent expense on a straight~~Pre-line basis over the lease term, which includes reasonably assured renewal periods. The lease term begins when the Company has the right to control the use of the property, which is typically before rent payments are due under the lease agreement. The difference between the rent expense and rent paid is recorded as deferred rent in the consolidated balance sheet. Rent expense for the period prior to the restaurant opening ~~is expensed in pre-opening costs.~~ Expenses

g)The ~~Net~~Company ~~Loss~~accumulates ~~Per~~the ~~Share~~non-capitalizable expenses, such as rent, staffing and training, prior to opening a new location and reports them on a separate line item in the Consolidated Statement of Operations such that these costs do not skew results from ongoing restaurant operations. Beginning in the month in which a new location opens all ongoing expenses are then included with ongoing restaurant operations.

~~Basic~~e) ~~loss~~Operating per share excludes dilution and is computed by dividing the loss attributable to stockholders by the weighted-average number of shares outstanding for the period. Diluted loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that shared in the earnings of the Company. Diluted loss per share is computed by dividing the loss available to stockholders by the weighted average number of shares outstanding for the period and dilutive potential shares outstanding unless consideration of such dilutive potential shares would result in anti-dilution. There were no dilutive common stock equivalents for the periods ended December 31, 2018 and 2017.Leases

hEffective January 1, 2019, we adopted Accounting Standards Update (ASU) ~~Income~~2016-02, ~~Taxes~~Leases (Topic 842) which supersedes the lease accounting requirements in Accounting Standards Codification (ASC) 840, Leases (Topic 840). Please refer to Recent Accounting Pronouncements below for additional information on the adoption of Topic 842 and the impact upon adoption to the Company’s consolidated financial statements.

~~The~~Under ~~Company~~Topic ~~follows~~842, ~~the~~we ~~provisions~~applied ofa ~~ASC~~dual ~~740-10,~~approach ~~Accounting~~to ~~for~~all ~~Uncertain~~leases ~~Income~~whereby ~~Tax~~we ~~Positions.~~are ~~When~~a ~~tax~~lessee ~~returns~~and ~~are~~classifies ~~filed,~~leases itas iseither ~~highly~~finance ~~certain~~or ~~that~~operating ~~some~~leases ~~positions~~based ~~taken~~on ~~would~~the beprinciple ~~sustained~~of ~~upon~~whether ~~examination~~or bynot the ~~taxing~~lease ~~authorities,~~is ~~while~~effectively ~~others~~a ~~are~~financed ~~subject~~purchase toby ~~uncertainty about~~ the ~~merits~~Company. ofLease ~~the~~classification ~~position~~is ~~taken~~evaluated orat the ~~amount~~inception of the ~~position~~lease ~~that would be ultimately sustained~~agreement. InRegardless ~~accordance with the guidance~~ of ~~ASC 740-10~~classification, ~~the~~we ~~benefit~~record of a ~~tax~~right-of-use ~~position~~asset isand ~~recognized~~a inlease ~~the~~liability ~~financial~~for ~~statements~~all inleases ~~the~~with ~~period~~a ~~during~~term ~~which,~~greater ~~based~~than on12 ~~all~~months. ~~available~~Our ~~evidence~~leases, ~~management~~for ~~believes~~the itpremises iswe ~~more~~occupy ~~likely~~for ~~than not that~~ the ~~position~~Illegal ~~will~~Burger ~~be sustained upon examination~~Arvada, ~~including~~Illegal ~~the~~Burger ~~resolution~~Writer ~~of appeals or litigation processes~~Square, ifIllegal ~~any.~~Burger ~~Tax~~Capital ~~positions~~Hill ~~taken~~and ~~are~~Illegal ~~not~~Burger ~~offset~~CitiSet orwere ~~aggregated~~classified ~~with~~as ~~other~~operating ~~positions.~~leases ~~Tax positions that meet the more-likely-than-not recognition threshold are measured~~ as ~~the largest amount~~ of ~~tax~~January ~~benefit~~1, ~~that~~2019. isOur ~~more~~leases, ~~than~~for 50the ~~percent~~premises ~~likely~~we ofoccupy ~~being~~for ~~realized upon settlement with~~ the ~~applicable~~Illegal ~~taxing~~Pizza ~~authority.~~Lauderhill ~~The~~and ~~portion of~~ the ~~benefits~~new ~~associated~~corporate ~~with~~office ~~tax~~were ~~positions~~classified ~~taken that exceeds the amount measured~~ as ~~described~~operating ~~above~~leases ~~should be reflected~~ as aof ~~liability~~May ~~for~~1, ~~unrecognized~~2019 ~~tax~~and ~~benefits~~June in1, ~~the~~2019, ~~accompanying~~respectively. ~~consolidated~~Operating ~~balance~~lease ~~sheets~~expense ~~along~~is ~~with~~recognized ~~any~~on ~~associated~~a ~~interest~~straight-line ~~and~~basis ~~penalties~~over ~~that~~the ~~would~~term beof ~~payable to~~ the ~~taxing authorities upon examination~~lease.

~~The~~We ~~tax~~identify ~~years~~leases ~~2017,~~in ~~2016~~our contracts if the contract conveys the right to control the use of identified property or equipment for a period of time in exchange for consideration. We do not allocate lease consideration between lease and ~~2015~~non-lease components and record a lease liability equal to the present value of the remaining fixed consideration under the lease. Any interest rate implicit in our leases are generally not readily determinable. Accordingly, we use our estimated incremental borrowing rate at the commencement date of the lease to determine the present value discount of the lease liability. We estimate the incremental borrowing rate for each lease based on an evaluation of our expected credit rating and the ~~Company~~prevailing ~~remain~~market ~~open~~rates for ~~IRS~~collateralized ~~audit~~debt in a similar economic environment with similar payment terms and maturity dates commensurate with the term of the lease. The ~~Company~~right-of-use ~~has~~asset ~~received~~for noeach ~~notice~~lease ofis ~~audit~~equal to the lease liability, adjusted for unamortized initial direct costs and lease incentives. We exclude options to extend or ~~any~~terminate ~~notifications~~leases from the ~~IRS~~calculation ~~for~~of ~~any~~the oflease liability unless it is reasonably certain the ~~open~~option ~~tax~~will ~~years~~be exercised.

if) ~~Cash~~Net ~~and~~Loss ~~Cash~~Per ~~Equivalents~~Share

~~The~~Basic ~~Company~~loss ~~considers~~per ~~all~~share ~~highly~~excludes ~~liquid~~dilution ~~securities~~and ~~with~~is ~~original~~computed ~~maturities~~by dividing the loss attributable to stockholders by the weighted-average number of ~~three~~shares ~~months~~outstanding for the period. Diluted loss per share reflects the potential dilution that could occur if securities or ~~less~~other ~~when~~contracts ~~acquired,~~to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that shared in the earnings of the Company. Diluted loss per share is computed by dividing the loss available to bestockholders ~~cash~~by ~~equivalents~~the weighted average number of shares outstanding for the period and dilutive potential shares outstanding unless consideration of such dilutive potential shares would result in anti-dilution. WeThere ~~had~~were no ~~financial~~dilutive ~~instruments~~common ~~that~~stock ~~qualified~~equivalents asfor ~~cash~~the ~~equivalents~~years ended December 31, 2019 and 2018.

~~F-7~~g) Income Taxes

~~WEST~~The ~~COAST~~Company ~~VENTURES~~follows ~~GROUP~~the ~~CORP~~provisions of ASC 740-10, Accounting for Uncertain Income Tax Positions. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for unrecognized tax benefits in the accompanying consolidated balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination.

~~Notes~~The totax ~~Consolidated~~years ~~Financial~~2018, ~~Statements~~2017 and 2016 for the Company remain open for IRS audit. The Company has received no notice of audit or any notifications from the IRS for any of the open tax years.

~~(2) BASIS OF PRESENTATION AND USE OF ESTIMATES, continued~~F-7

j)WEST ~~Financial~~COAST ~~Instruments~~VENTURES ~~and~~GROUP ~~Fair~~CORP. ~~Value Measurements~~

~~ASC~~Notes ~~825-10 “Financial Instruments”, allows entities~~ to ~~voluntarily~~Consolidated ~~choose~~Financial to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding instruments.Statements

~~ASC~~(2) ~~825~~SUMMARY ~~also~~OF ~~requires~~SIGNIFICANT ~~disclosures~~ACCOUNTING ~~of the fair value of financial instruments. The carrying value of the Company’s current financial instruments~~POLICIES, ~~which include cash and cash equivalents, accounts payable and accrued liabilities approximates their fair values because of the short-term maturities of these instruments.~~continued

~~FASB~~h) ~~ASC~~Cash 820 “Fair Value Measurement” clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. It also requires disclosure about how fair value is determined for assets and ~~liabilities~~Cash ~~and establishes a hierarchy for which these assets and liabilities must be grouped, based on significant levels of inputs as follows:~~Equivalents

~~Level~~The 1:Company ~~Quoted~~considers ~~prices~~all inhighly ~~active~~liquid ~~markets~~securities ~~for~~with ~~identical~~original ~~assets~~maturities of three months or ~~liabilities~~less when acquired, to be cash equivalents. The Company had no financial instruments that qualified as cash equivalents.

~~Level~~i) 2:Financial ~~Quoted~~Instruments ~~prices in active markets for similar assets~~ and ~~liabilities~~Fair ~~and~~Value ~~inputs that are observable for the asset or liability.~~Measurements

~~Level~~ASC 3:825-10 ~~Unobservable~~“Financial ~~inputs~~Instruments”, inallows ~~which~~entities ~~there~~to isvoluntarily ~~little~~choose orto nomeasure ~~market~~certain ~~data~~financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, ~~which~~unless ~~require~~a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting ~~entity~~date. The Company did not elect to ~~develop~~apply ~~its~~the ~~own~~fair ~~assumptions~~value option to any outstanding instruments.

ASC 825 also requires disclosures of the fair value of financial instruments. The ~~determination~~carrying value of ~~where~~the ~~assets~~Company’s ~~and~~current ~~liabilities~~financial ~~fall~~instruments, ~~within~~which ~~this~~include ~~hierarchy~~cash isand ~~based~~cash ~~upon~~equivalents, ~~the~~accounts ~~lowest~~payable ~~level~~and ofaccrued ~~input~~liabilities ~~that~~approximates istheir ~~significant~~fair tovalues because of the ~~fair~~short-term ~~value~~maturities ~~measurement~~of these instruments.

~~The~~FASB ~~following~~ASC 820 “Fair Value Measurement” clarifies that fair value is an exit price, representing the ~~Company’s~~amount ~~assets~~that ~~and~~would ~~liabilities~~be ~~measured~~received atto ~~fair~~sell ~~value~~an onasset or paid to transfer a ~~recurring~~liability ~~and~~in ~~nonrecurring~~an ~~basis~~orderly attransaction ~~December~~between ~~31,~~market ~~2018~~participants. ~~and~~It ~~2017,~~also ~~using~~requires ~~quoted~~disclosure ~~prices~~about inhow ~~active~~fair ~~markets~~value ~~for~~is ~~identical~~determined for assets ~~(Level~~and ~~1),~~liabilities ~~significant~~and ~~other~~establishes ~~observable~~a ~~inputs~~hierarchy ~~(Level~~for ~~2),~~which these assets and liabilities must be grouped, based on significant ~~unobservable~~levels of inputs ~~(Level~~as 3)follows:

	2018			2017
Level 3 - Embedded Derivative Liability	$	196,009		$	251,438

Level 1: Quoted prices in active markets for identical assets or liabilities.

~~Changes~~Level 2: Quoted prices in ~~Level~~active 3markets ~~assets~~for ~~measured~~similar atassets ~~fair~~and ~~value~~liabilities ~~for~~and ~~the~~inputs ~~year~~that ~~ended~~are ~~December~~observable ~~31,~~for ~~2018~~the ~~were~~asset asor ~~follows:~~liability.

Balance, December 31, 2017	$	251,438
Portion of initial valuation recorded as debt discount		567,645
Reduction upon conversion, assignment or settlement		(310,491)
Change in fair value of derivative		(312,583)
Balance, December 31, 2018	$	196,009

Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

~~F-8~~The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

~~WEST~~j) ~~COAST VENTURES GROUP CORP.~~ Derivatives

~~Notes~~The Company evaluates its convertible debt, options, warrants or other contracts to ~~Consolidated~~determine ~~Financial~~if ~~Statements~~those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for. The result of this accounting treatment is that under certain circumstances the fair value of the derivative is marked-to-market each balance sheet date and recorded as a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statement of operations as other income or expense. Upon conversion, payment or exercise of a convertible note containing an embedded derivative instrument, the instrument is marked to fair value at the conversion date and the debt and derivative are removed from the balance sheet. The shares issued upon conversion of the note are recorded at their fair value and any gain or loss on extinguishment is recognized in earnings.

~~(2)~~Equity ~~BASIS~~instruments OFthat ~~PRESENTATION~~are ~~AND~~initially ~~USE~~classified OFas ~~ESTIMATES,~~equity ~~continued~~that become subject to reclassification under this accounting standard are reclassified to liability at the fair value of the instrument on the reclassification date.

k) ~~Derivatives~~Impairment of Long-Lived Assets

~~The~~A ~~Company~~long-lived ~~evaluates~~asset ~~its~~is ~~convertible~~tested ~~debt,~~for ~~options,~~impairment ~~warrants~~whenever events or ~~other~~changes ~~contracts~~in tocircumstances ~~determine~~indicate ifthat ~~those~~its ~~contracts~~carrying orvalue ~~embedded~~amount ~~components~~may ofnot ~~those contracts qualify as derivatives to~~ be ~~separately accounted for~~recoverable. ~~The~~An ~~result~~impairment ofloss ~~this accounting treatment~~ is ~~that~~recognized ~~under~~when ~~certain circumstances~~ the ~~fair~~carrying ~~value~~amount of the ~~derivative~~asset isexceeds ~~marked-to-market each balance sheet date and recorded as a liability. In~~ the ~~event~~sum ~~that~~of the ~~fair~~undiscounted ~~value~~cash isflows ~~recorded~~resulting asfrom aits ~~liability,~~use ~~the~~and ~~change~~eventual ~~in fair value is recorded in the statement of operations as other income or expense~~disposition. ~~Upon~~The ~~conversion,~~impairment ~~payment~~loss ~~or exercise of a convertible note containing an embedded derivative instrument, the instrument~~ is ~~marked~~measured toas ~~fair value at~~ the ~~conversion~~amount ~~date~~by ~~and~~which the ~~debt~~carrying ~~and~~amount ~~derivative are removed from the balance sheet, The shares issued upon conversion~~ of the ~~note~~long-lived ~~are~~assets ~~recorded~~exceeds atits ~~their~~ fair value ~~and a gain or loss on extinguishment is recognized, as applicable~~.

~~Equity~~l) ~~instruments~~Related ~~that~~Party ~~are~~Transactions ~~initially classified as equity that become subject to reclassification under this accounting standard are reclassified to liability at the fair value of the instrument on the reclassification date.~~

l)All ~~Impairment~~transactions with related parties are in the normal course of ~~Long-Lived~~operations ~~Assets~~and are measured at the exchange amount

~~A long~~F-lived asset is tested for impairment whenever events or changes in circumstances indicate that its carrying value amount may not be recoverable. An impairment loss is recognized when the carrying amount of the asset exceeds the sum of the undiscounted cash flows resulting from its use and eventual disposition. The impairment loss is measured as the amount by which the carrying amount of the long-lived assets exceeds its fair value. There were no impairment losses recorded in 2018 and 2017.8

m)WEST ~~Related~~COAST ~~Party~~VENTURES ~~Transactions~~GROUP CORP.

~~All~~Notes ~~transactions~~to ~~with~~Consolidated ~~related~~Financial ~~parties are in the normal course of operations and are measured at the exchange amount~~Statements

n(2) ~~Recent~~SUMMARY ~~Accounting~~OF ~~Pronouncements~~SIGNIFICANT ACCOUNTING POLICIES, continued

Inm) ~~February~~Recent ~~2016,~~Accounting ~~the~~Pronouncements FASB issued ASU 2016-02, “Leases” which, for operating leases, requires a lessee to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in its balance sheet. The standard also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term, on a generally straight-line basis. The ASU is effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The adoption of ASU 2016-02 is expected to result in the recognition of right to use assets and associated obligations on its consolidated balance sheet.

oThe Company recognizes revenue in accordance with ASU 2017-04 “Intangibles - Goodwill and Other (Topic 350): ~~Revenue~~Simplifying ~~Recognition~~the Test for Goodwill Impairment”. This update simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under this updated standard, an entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, but the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. An entity also should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if any. This guidance is effective prospectively and is effective for interim and annual periods beginning after December 15, 2019 with early adoption permitted. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.

InOn ~~May~~January ~~2014~~1, 2019, the ~~Financial~~Company ~~Accounting~~adopted ~~Standards~~ASU ~~Board~~2016-02, (“~~FASB~~Leases”) which, ~~issued~~for ~~Accounting~~operating ~~Standards Codification~~leases, ~~(“ASC”),~~requires ~~606,~~a ~~“Revenue~~lessee ~~from~~to ~~Contracts~~recognize ~~with~~a ~~Customer”~~right-of-use ~~effective~~asset ~~for~~and ~~public~~a ~~business~~lease ~~entities~~liability, ~~with~~initially ~~annual~~measured ~~reporting~~at ~~periods~~the ~~beginning~~present ~~after~~value ~~December~~of 15the lease payments, ~~2017.~~in ~~This~~its ~~new~~balance ~~revenue~~sheet. ~~recognition~~The standard ~~(new~~also ~~guidance)~~requires ~~has~~ a ~~five~~lessee ~~step~~to ~~process:~~recognize a) ~~Determine~~single ~~whether~~lease acost, ~~contract~~calculated ~~exists;~~so b)that ~~Identify~~ the ~~performance~~cost ~~obligations;~~of ~~c) Determine~~ the ~~transaction~~lease ~~price;~~is d)allocated ~~Allocate~~over the ~~transaction~~lease ~~price;~~term, e)on ~~Recognize~~a ~~revenue~~generally ~~when~~straight-line ~~(or~~basis. ~~as)~~The ~~performance~~adoption ~~obligations~~of ~~are~~ASU ~~satisfied.~~2016-02 ~~The~~resulted ~~impact~~in of the Company’s ~~initial~~recognition ~~application~~ of ~~ASC~~right ~~606~~to ~~did~~use ~~not~~assets ~~have~~and aassociated ~~material~~obligations ~~impact~~ on its ~~consolidated~~balance ~~financial statements and disclosures~~sheet.

The Company’s consolidated financial statements are prepared under the accrual method of accounting. Revenues are recognized when pervasive evidence of an arrangement exists, services have been rendered (product deliveredn), ~~the~~Revenue ~~sales price is fixed or determinable, and collectability is reasonably assured. This occurs only when the product(s) is ordered and subsequently delivered.~~Recognition

~~F-9~~The Company adopted Accounting Standards Codification, (“ASC”), 606, “Revenue from Contracts with Customer” on January 1, 2018. This revenue recognition standard has a five step process: a) Determine whether a contract exists; b) Identify the performance obligations; c) Determine the transaction price; d) Allocate the transaction price; e) Recognize revenue when (or as) performance obligations are satisfied. The Company’s principal operations are the operation of quick casual restaurants wherein the customer pays for their food upon placing the order. The Illegal Brands operations are the sale of CBD infused water and CBD soluble packets which at present are only sold in the Company’s restaurants. The franchise operations have yet to sell a franchise, but upon such sales will follow the appropriate revenue recognition procedures.

~~WEST~~The ~~COAST~~Company’s ~~VENTURES~~financial ~~GROUP~~statements ~~CORP~~are prepared under the accrual method of accounting. Revenues are recognized when pervasive evidence of an arrangement exists, services have been rendered (product delivered), the sales price is fixed or determinable, and collectability is reasonably assured. This occurs only when the product(s) is ordered and subsequently delivered.

~~Notes~~o) ~~to Consolidated Financial Statements~~Inventories

~~(2)~~Inventories ~~BASIS~~consist OFof ~~PRESENTATION~~food, ~~AND~~beverages, ~~USE~~and OFsupplies ~~ESTIMATES~~valued at the lower of cost (first-in, ~~continued~~first-out method) or net realizable value.

p) ~~Inventories~~Intangible Assets

~~Inventories~~Intangible ~~consist~~assets ofare ~~food,~~being ~~beverages,~~amortized ~~and~~using ~~supplies~~the ~~valued~~straight atline method over the ~~lower~~remaining life of ~~cost~~the ~~(first-in~~asset, ~~first-out~~generally ~~method)~~the remaining life of the location lease, generally five, seven or ~~market~~ten years.

q(3) ~~Intangible~~LIQUIDITY ~~Assets~~AND GOING CONCERN CONSIDERATIONS

~~Intangible~~Our consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets ~~are~~and ~~being~~the ~~amortized~~settlement ~~using~~of ~~straight~~liabilities ~~line~~and ~~method~~commitments ~~over~~in the ~~remaining~~normal ~~life~~course of business. We sustained a net loss of approximately $5.3 million for the ~~location~~year ~~lease~~ended ~~term~~December 31, ~~generally~~2019 ~~five~~and have an accumulated deficit of approximately $9.0 million and a negative working capital of approximately $6.6 million at December 31, ~~seven~~2019, orinclusive ~~ten~~of ~~years~~current indebtedness. These conditions raise substantial doubt about our ability to continue as a going concern.

~~(3)~~Failure ~~LIQUIDITY~~to ~~AND~~successfully ~~GOING~~continue ~~CONCERN~~to ~~CONSIDERATIONS~~grow restaurant operation revenues could harm our profitability and materially adversely affect our financial condition and results of operations. We face all of the risks inherent in a new business, including the need for significant additional capital, management’s potential underestimation of initial and ongoing costs, and potential delays and other problems in connection with establishing and opening restaurant operations.

Our consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. We sustained a net loss of approximately $1.8 million for the year ended December 31, 2018 and have an accumulated deficit of approximately $3.7 million and a negative working capital of approximately $2.7 million at December 31, 2018, inclusive of indebtedness. These conditions raise substantial doubt about our ability to continue as a going concern.F-9

~~Failure~~WEST toCOAST ~~successfully~~VENTURES ~~continue~~GROUP ~~to grow restaurant operation revenues could harm our profitability and materially adversely affect our financial condition and results of operations~~CORP. We face all of the risks inherent in a new business, including the need for significant additional capital, management’s potential underestimation of initial and ongoing costs, and potential delays and other problems in connection with establishing and opening restaurant operations.

WeNotes ~~are continuing our plan~~ to ~~further~~Consolidated ~~grow~~Financial and expand restaurant operations and seek sources of capital to pay our contractual obligations as they come due. Management believes that its current operating strategy will provide the opportunity for us to continue as a going concern as long as we are able to obtain additional financing; however, there is no assurance this will occur. The accompanying consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern.Statements

~~The~~(3) ~~independent~~LIQUIDITY ~~auditors’~~AND ~~report~~GOING onCONCERN ~~our consolidated financial statements for the years ended December 31~~CONSIDERATIONS, ~~2018 contained an explanatory paragraph expressing substantial doubt as to our ability to continue as a going concern.~~continued

~~(4)~~We ~~FIXED~~are ~~ASSETS~~continuing our plan to further grow and expand restaurant operations and seek sources of capital to pay our contractual obligations as they come due. Management believes that its current operating strategy will provide the opportunity for us to continue as a going concern as long as we are able to obtain additional financing; however, there is no assurance this will occur. The accompanying consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern.

~~Fixed~~The ~~assets~~independent ~~consisted~~auditors’ ofreport on our consolidated financial statements for the ~~following:~~years ended December 31, 2019 and 2018 contained an explanatory paragraph expressing substantial doubt as to our ability to continue as a going concern.

December 31,	2018	2017
Beginning balance	$ 408,325	$ 394,524
Additions: Equipment	95,558	-
Additions: Leasehold improvements	34,959	13,801
Landlord reimbursement	(54,000)	-
Depreciation	(250,394)	(171,267)
Ending Balance	$ 234,448	$ 237,058

(4) FIXED ASSETS

~~Depreciation~~At ~~expense~~December ~~was~~31 ~~$79,127~~fixed ~~and~~assets ~~$58,995~~consisted ~~for~~of the ~~years ended December 31, 2018 and 2017, respectively.~~following:

F-10


	2019	2018
Equipment	$ 569,715	$ 277,296
Leasehold improvements	231,493	207,546
Total	$ 801,208	$ 484,842
Accumulated depreciation	(342,249)	(250,394)
Ending Balance	$ 458,959	$ 234,448

~~WEST~~Depreciation ~~COAST~~expense ~~VENTURES~~was ~~GROUP~~$91,855 ~~CORP.~~and $79,127 for the years ended December 31, 2019 and 2018, respectively.

~~Notes~~(5) toINTANGIBLE ~~Consolidated Financial Statements~~ASSETS

~~(5)~~At ~~INTANGIBLE~~December ~~ASSETS~~31 intangible assets consisted of the following:

In March 2015, as part of the acquisition of the Writer Square downtown location, the Company purchased the rights to negotiate a lease from the landlord for $125,000 in cash. The Company is amortizing this value over the remaining term of the lease.


	2019	2018
Leasehold rights	$ 175,000	$ 125,000
Liquor licenses	12,789	9,586
Franchise offering documents	16,000	-
Franchise sales website	16,500	-
Trademarks	9,100	-
Total	$ 229,389	$ 134,586
Amortization	(66,235)	(50,156)
Ending Balance	$ 163,154	$ 84,430

InAmortization ~~March~~expense ~~2016~~was $16,079 asand ~~part~~$39,490 offor the ~~acquisition~~years ofended ~~the~~December ~~Capital Hill location~~31, ~~the~~2019 ~~Company~~and ~~purchased the existing liquor license for $4~~2018,~~300~~ ~~in cash~~respectively. ~~The Company is amortizing this value of the remaining term of the lease.~~

In September 2018, as part of the acquisition of the CitiSet location, the Company acquired a liquor license for $5,286 in cash. The Company is amortizing this value of the remaining term of the lease.F-10

~~Amortization~~WEST ~~expense~~COAST ~~was~~VENTURES ~~$39,490~~GROUP ~~and $7,110 for the years ended December 31, 2018 and 2017, respectively~~CORP.

~~Amortization~~Notes ~~expense~~to ~~will~~Consolidated beFinancial ~~$13,712 each year for the next five years, or a total of $68,562.~~Statements

(65) ~~NET~~INTANGIBLE ~~ACQUIRED~~ASSETS, ~~LIABILITIES OF DISCONTINUED OPERATIONS~~continued

AsThe afollowing ~~result~~table ofpresents the ~~reverse~~estimated ~~acquisition~~aggregate onfuture ~~October~~amortization 4,expense ~~2017, we acquired approximately $0.5 million~~ of ~~liabilities,~~intangible ~~net of~~ assets, of the former operations of West Coast Ventures Group Corp. (which have been discontinued). During 2017 we issued 3,000,000 shares of our common stock to extinguish $30,000 of indebtedness. We are evaluating the means to relieve the Company of these liabilities.:

(7) SHORT-TERM BANK REVOLVING LINES OF CREDIT


2020	$ 21,857
2021	21,140
2022	20,997
2023	20,997
2024	20,997
Thereafter	57,166
Balance at December 31, 2019	$ 163,154

In(6) ~~2016~~NET ~~the~~ACQUIRED ~~Company~~LIABILITIES ~~opened~~OF ~~three~~DISCONTINUED short term revolving lines of credit with its bank to be utilized as overdraft protection and to cover short-term cash shortfalls. These lines were entered into by J&F Restaurants, LLC, with the two separate lines being tied to the bank accounts of El Senor Sol - Evergreen and Illegal Burger - Evergreen, and Illegal Burger, LLC - Arvada. In February 2017 the principal stockholder converted these lines to a personal line of credit collateralized as an equity line on his personal residence. The lines carried a variable interest rate of Wall Street Prime Index Rate plus 2.00% and matured in March 2021. In February 2017, the principal stockholder converted these lines to a personal line of credit collateralized as an equity line on his personal residence. At December 31, 2018 and 2017 the balances of each of these lines were $0.OPERATIONS

As a result of the reverse acquisition on October 4, 2017, we acquired approximately $0.5 million of liabilities, net of assets, of the former operations of West Coast Ventures Group Corp. (8which have been discontinued). ~~STOCKHOLDER~~During ~~LOAN~~2017 we issued 3,000,000 shares of our common stock to extinguish $30,000 of indebtedness. We are evaluating the means to relieve the Company of these liabilities.

The principal stockholder of the Company has loaned the Company funds at various times on an undocumented loan basis with no stated interest rate. These loans were made principally to complete the conversion of the Illegal Burger - Arvada (~~2014~~7), ~~Illegal~~STOCKHOLDER Burger - Writer Square (2015 and 2016), Illegal Burger Capital Hill (2016) and Illegal Burger CitiSet (2018) locations. This stockholder loan balance was $206,434 and $94,509 at December 31, 2018 and 2017, respectively. In February 2017 the principal stockholder converted the three short-term bank revolving line of credits to a personal line of credit collateralized as an equity line on his personal residence.LOAN

From time to time the principal stockholder of the Company has loaned funds to the Company on an undocumented basis with no stated interest rate. These loans were made principally to complete the conversion of the Illegal Burger - Arvada (92014), ~~NOTES~~Illegal ~~PAYABLE~~Burger TO- ~~THIRD~~Writer ~~PARTIES~~Square (2015 and 2016), Illegal Burger Capital Hill (2016) and Illegal Burger CitiSet (2018) locations. This stockholder loan balance was $0 and $206,434 at December 31, 2019 and 2018, respectively.

a(8) ~~Future Receivables Sale Agreements~~DERIVATIVES

The ~~Company,~~following ~~through~~is ~~Nixon~~the ~~Restaurant~~Company’s ~~Group,~~assets ~~Inc., J&F Restaurants, LLC, Illegal Burger, LLC, Illegal Burger Writer Square, LLC~~ and ~~Illegal~~liabilities ~~Burger~~measured ~~Capitol Hill, LLC entered into several agreements~~ at ~~various~~fair ~~times~~value toon ~~obtain~~a ~~advances~~recurring against future restaurant credit/debit card sales. The agreements provides for funding of various percentages of future qualified credit/debit merchant card receivables. Proceeds received from sales of future receivables during 2018 and ~~2017~~nonrecurring ~~totaled~~basis ~~$140,000~~at ~~and $166,082, respectively. At~~ December 31, ~~2018~~2019 and ~~2017~~2018, ~~the~~using ~~total~~quoted ~~payable~~prices ~~balances~~in ~~inclusive~~active ofmarkets ~~interest~~for ~~under~~identical ~~the~~assets ~~factoring~~(Level ~~agreements were $154~~1),~~770~~ ~~and~~significant ~~$248,883,~~other ~~respectively.~~observable ~~During~~inputs ~~the~~(Level ~~first quarter 2018~~2), ~~we negotiated settlement agreements with two of these lenders to pay off the balances owed at the rate of $8,000 per month over two years~~ and ~~$4,000~~significant ~~per~~unobservable ~~month~~inputs ~~over~~(Level ~~one year.~~3):

F-11


	2019		2018
Level 3 - Embedded Derivative Liabilities	$	2,740,054	$	201,891

~~WEST~~Changes ~~COAST~~in ~~VENTURES~~Level ~~GROUP~~3 ~~CORP.~~assets measured at fair value for the year ended December 31, 2019 were as follows:

Notes to Consolidated Financial Statements


Balance, December 31, 2018	$	201,891
Portion of initial valuation recorded as debt discount		651,817
Change upon conversion or settlement		233,706
Change in fair value of derivative		1,652,640
Balance, December 31, 2019	$	2,740,054

~~(9) NOTES PAYABLE TO THIRD PARTIES, continued~~F-11

a)WEST ~~Future~~COAST ~~Receivables~~VENTURES ~~Sale~~GROUP ~~Agreements,~~CORP. ~~continued~~

InNotes ~~October~~to ~~2018~~Consolidated ~~the~~Financial ~~principal stockholder paid off one of these balances with a $35,000 settlement. The balance of the remaining settlement agreement is $3,644 at December 31, 2018.~~Statements

b(9) ~~One~~NOTES ~~Year~~PAYABLE ~~Note~~TO THIRD PARTIES

InNotes ~~February~~Payable ~~2016,~~consist ~~the Company entered into a one year note with a third party for a loan~~ of $88,000. This note was payable daily in the amount of $377 paid via ACH draft from the J&F Restaurants, LLC - El Senor Sol Evergreen bank account. This note carries interest at a 7% rate. This note was renewed on December 30, 2016, and the Company received $74,548 in cash, which was net of the $10,452 remaining balance. The new note is payable as a percentage of future qualified credit/debit merchant card receivables. The loan balance was $28,038 and $42,217 at December 31, 2018 and 2017, respectively.:

c) Convertible Notes - Variable Conversion


						Look
Inception	Issue	Maturity		Interest	Conversion	Back	December 31 Balance
Amount	Date	Date	OID	Rate	Price	Period	2019	2018
a) Sale of Future Receivables
	various	various	-	-	-	-	$ 309,311	$ 154,770
b) Notes
$ 88,000			-	7%	-	-	-	24,985
$ 25,903	10/1/18	6/4/20	-	17%	-	-	3,372	20,121
$ 4,100	10/22/18	10/22/20	-	-	-	-	2,327	3,593
$ 14,800	6/5/18		-	-	-	-	10,219	13,490
$ 100,000	4/10/19	4/10/20	-	20%	-	-	114,630	-
							$ 130,548	$ 62,189
c) Convertible Notes - Variable Conversion Rate
$ 30,000	6/14/17	12/14/17	-	10%	35%	3 days	33,600	33,600
$ 35,000	7/11/18	4/15/19	-	12%	49%	15 days	-	35,932
$ 33,000	8/23/18	5/23/19	-	12%	49%	15 days	-	33,437
$ 138,000	12/3/18	9/15/19	-	12%	45%	20 days	-	139,270
$ 100,000	12/11/18	12/11/19	10%	12%	40%	20 days	-	100,548
$ 50,000	4/16/19	1/16/20	10%	12%	45%	20 days	330	-
$ 153,000	5/28/19	5/24/20	-	12%	45%	20 days	72,105	-
$ 118,750	6/24/19	3/17/20	-	12%	50%	25 days	123,868	-
$ 50,000	6/28/19	3/27/20	10%	12%	45%	20 days	49,427	-
$ 50,000	6/28/19	3/27/20	10%	12%	45%	20 days	57,652	-
$ 50,000	6/28/19	3/27/20	10%	12%	45%	20 days	57,779	-
$ 103,000	7/1/19	6/27/20	-	12%	45%	20 days	109,197	-

~~In the fourth quarter 2018, the Company entered into a convertible note in exchange for $138,000 in cash. This note matures in nine months and carries a~~ F-12% interest rate. The note converts into shares of the Company’s common stock at a price of 61% of the average of the two lowest trade prices and the lowest trade price for the Common Stock during the 15 Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes has been recorded as a derivative liability in the amount of $189,380, with a related debt discount of $138,000, and an immediate loss of $51,380.

InWEST ~~the~~COAST ~~third~~VENTURES ~~quarter~~GROUP ~~2018, the Company entered into two convertible notes in exchange for $68,000 in cash~~CORP. These notes mature in nine months and carries a 12% interest rate. These notes convert into shares of the Company’s common stock at a price of 61% of the average of the two lowest trade prices and the lowest trade price for the Common Stock during the 15 Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes has been recorded as a derivative liability in the amount of $151,769, with a related debt discount of $68,000, and an immediate loss of $83,763.

~~The~~Notes ~~Company entered into a settlement agreement with the holder of one of the convertible notes which required the Company~~ to ~~pay~~Consolidated ~~installments~~Financial of $15,000 on August 31, $35,000 on October 31, $50,000 on November 30 and $100,000 on December 31, 2018. This agreement did not allow for the lender to convert any of the then remaining debt. This agreement included a penalty of $40,528 as a portion of the $200,000 total settlement of which $0 is outstanding at December 31, 2018.Statements

In(9) ~~the~~NOTES ~~first~~PAYABLE ~~quarter~~TO ~~2018,~~THIRD ~~the Company entered into three convertible notes in exchange for $280~~PARTIES,~~000~~ in cash. These notes mature two in nine months and one in six months and carry 12% and 8% interest rates. The notes convert into shares of the Company’s common stock at a price of 61% and 60% of the average of the two lowest trade prices and the lowest trade price for the Common Stock during the 15 and 20 Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes has been recorded as a derivative liability in the amount of $306,000, with a related debt discount of $306,000, and an immediate loss of $0.continued

In 2017 the Company entered into two convertible notes in exchange for $130,000 in cash. These notes mature in nine months and one year and carry 12% and 8% interest rates. The notes convert into shares of the Company’s common stock at a price of 61% and 55% of the average of the two lowest trade prices and the lowest trade price for the Common Stock during the 15 and 20 Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes has been recorded as a derivative liability in the amount of $218,686, with a related debt discount of $130,000, and an immediate loss of $88,686.


						Look
Inception	Issue	Maturity		Interest	Conversion	Back	December 31 Balance
Amount	Date	Date	OID	Rate	Price	Period	2019	2018
c) Convertible Notes - Variable Conversion Rate, continued
$ 108,000	7/5/19	6/30/20	11.11%	12%	45%	20 days	132,699	-
$ 103,000	7/10/19	7/10/20	10%	8%	45%	20 days	121,862	-
$ 75,000	8/7/19	5/7/20	-	12%	50%	10 days	73,600	-
$ 70,000	8/7/19	5/7/20	12%	12%	40%	20 days	77,172	-
$ 90,000	8/8/19	8/8/20	-	10%	43%	20 days	96,914	-
$ 135,000	8/12/19	7/10/20	11%	8%	45%	20 days	160,160	-
$ 53,000	10/31/19	8/15/20	-	12%	45%	20 days	53,709	-
$ 18,235	12/13/19	12/13/20	9%	10%	35%	25 days	18,394	-
Subtotal Convertible Notes - Variable Conversion Rate							1,238,468	342,787
Less unamortized discounts							(553,646)	(113,610)
Net Convertible Notes - Variable Conversion Rate							$ 684,822	$ 229,177
d) Convertible Notes - Fixed Conversion Rate
$ 87,522	7/3/18	12/31/20	-	12%	$ 0.0035	-	22,039	82,791
$ 54,445	7/10/18	12/31/21	-	8%	$ 0.0035	-	59,406	54,445
$ 33,504	8/10/18	12/31/21	-	12%	$ 0.0035	-	37,551	33,504
$ 80,044	8/7/19	12/31/21	-	12%	$ 0.0035	-	37,866	83,807
$ 100,000	4/10/19	4/10/20	-	20%	$ .05	-	114,630	-
Subtotal Convertible Notes - Fixed Conversion Rate							271,492	254,547
Less unamortized discounts							(76,465)	(199,848)
Net Convertible Notes - Variable Conversion Rate							$ 195,027	$ 54,699
e) Note of Wholly Owned Subsidiary
$ 375,000	3/5/15	12/5/15	-	18%	-	-	$ 438,220	$ 438,220

F-1213

WEST COAST VENTURES GROUP CORP.

Notes to Consolidated Financial Statements

(9) NOTES PAYABLE TO THIRD PARTIES, continued

ca) ~~Convertible~~Future ~~Notes~~Receivables -Sale ~~Variable Conversion, continued~~Agreements

InThe ~~2017~~Company, ~~the~~through ~~Company~~Nixon Restaurant Group, ~~through~~Inc., aJ&F ~~subsidiary~~Restaurants, ~~issued~~LLC, aIllegal ~~Convertible~~Burger, ~~Promissory~~LLC, ~~Note~~Illegal inBurger ~~exchange~~Writer ~~for~~Square, ~~$30~~LLC,~~000~~ inIllegal ~~cash.~~Burger ~~This~~Capitol ~~note~~Hill, ~~matures~~LLC inand ~~one~~Illegal ~~year~~Burger ~~from~~CitiSet, ~~issuance~~LLC ~~and~~entered ~~carried~~into aseveral ~~10%~~agreements ~~interest~~at ~~rate.~~various ~~The~~times ~~note~~to ~~converts~~obtain ~~into~~advances ~~shares~~against offuture ~~the~~restaurant ~~Company’s~~credit/debit ~~common~~card ~~stock~~sales. atThe aagreements ~~price~~provide for funding of ~~65%~~various percentages of ~~the~~future ~~average~~qualified ~~closing~~credit/debit ~~price~~merchant ~~for~~card ~~the~~receivables. ~~Common~~Proceeds ~~Stock~~received ~~during~~from ~~the~~sales ~~three~~of ~~(3)~~future ~~Trading~~receivables ~~Day~~during ~~period~~2019 ~~ending~~and on2018 ~~the~~totaled ~~latest~~$415,000 ~~complete~~and ~~Trading~~$140,000, ~~Day~~respectively. ~~prior~~At toDecember ~~the~~31, ~~Conversion~~2019 ~~Date.~~and ~~Because~~2018, ~~this~~the ~~note~~total ~~was~~payable ~~entered~~balances ~~into~~inclusive inof ainterest ~~non-trading~~under ~~subsidiary~~the nofactoring ~~derivative~~agreements ~~was~~were ~~recognized~~$450,258 and $154,770, respectively.

db) ~~Convertible~~One Year Notes ~~- Fixed Conversion~~

~~During~~In ~~the~~February ~~third quarter of 2018~~2016, ~~two related parties purchased, through assignment, three of~~ the ~~variable~~Company ~~conversion~~entered ~~price~~into ~~convertible~~a ~~notes~~one ~~then~~year ~~outstanding.~~note ~~These~~for ~~parties~~$88,000 ~~immediately amended the notes to replace the variable conversion rate~~ with a ~~fixed~~third ~~conversion rate of $0~~party.~~0035~~ ~~per share of the Company’s common stock.~~ The ~~maturity~~loan ~~dates~~balance ofwas ~~the~~$0 ~~three~~and ~~notes~~$24,985 ~~was~~at ~~extended~~December to31, ~~2020~~2019 and ~~2021.immediately~~2018, ~~amended the notes~~ respectively.

~~During~~In ~~the~~April ~~fourth quarter of 2018~~2019, ~~one of~~ the ~~parties~~Company ~~that~~entered ~~purchased~~into a one ofyear ~~the~~note ~~variable~~for ~~conversion price convertible notes assigned~~ $50100,000 ofwith ~~their note to~~ a third party ~~for $50,000 in cash~~. This ~~new~~note ~~party~~carries ~~immediately~~a ~~amended~~20% ~~the~~interest ~~assigned~~rate ~~note~~and ~~portion~~is tocollateralized by a ~~fixed~~second ~~conversion~~mortgage ~~rate~~on ofthe ~~$0.01~~founder ~~per~~and ~~share of the Company~~CEO’s ~~common stock~~residence. The ~~maturity~~loan ~~date~~balance, ofincluding ~~this~~interest, ~~note~~ was ~~extended~~$114,630 toat December 31, ~~2021~~2019. ~~The Company recognized no gain or loss associated with this modification.~~

~~In the fourth quarter 2018, the Company entered into a convertible note in exchange for $100,000 in cash. This note matures in one year and carries a 10% Original Issue Discount (OID~~c). ~~The~~Convertible ~~note~~Notes ~~converts~~- ~~into~~Variable ~~shares~~Conversion ~~of the Company’s common stock at a price of $0.05 per share.~~

e)In ~~Third~~the ~~Party~~fourth ~~Note~~quarter ~~Payable~~2019, the Company entered into two convertible notes in exchange for $73,000 in cash with a principal amount of $73,000. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes were recorded as a derivative liability in the amount of $73,000 with a related debt discount of $73,000.

In ~~March~~the ~~2015~~third quarter 2019, the Company entered into ansix ~~agreement~~convertible ~~with~~notes ain ~~third~~exchange ~~party~~for ~~lender, who extended a~~ $3567,000~~,000~~ ~~Senior~~in ~~Secured~~cash ~~Note.~~with ~~Under the terms of this agreement~~ a ~~first~~principal ~~draw was entered into in the~~ amount of $~~375~~609,~~000 as a Revolving Note~~400. ~~The~~Based ~~lender~~on ~~retained~~the ~~$59,713~~variable ofconversion ~~this~~terms ~~draw as fees. Under~~ the ~~terms~~beneficial ofconversion ~~this~~rights ~~Note,~~embedded ~~the~~in ~~Company~~these ~~was~~convertible ~~required~~notes towere ~~replace~~recorded ~~their~~as ~~credit~~a ~~card/debit~~derivative ~~card~~liability ~~merchant~~in ~~processing to~~ the ~~lender.~~amount ~~The lender retained 100%~~ of ~~the credit card/debit card transactions~~$960,354 ~~and~~with ~~forwarded four wire transfers to the Company over~~ a ~~six~~related ~~week~~debt ~~period.~~discount ~~The credit card/debit card transactions for this six week period amounted to $84,534. The lender remitted $42,379~~ of ~~this amount to the Company. Of the~~ $42609,~~155 retained by the lender~~400, ~~$14,861 was applied as principal reduction, $7,088 was applied to interest expense~~ and ~~the~~an ~~remaining~~immediate ~~$20,206~~loss ~~was charged as fees. The Senior Secured Note also called for the payment~~ of a $75281,~~000 investment banking fee~~945.

In ~~May 2015, when it was determined that this repayment structure was not practical for a restaurant operation,~~ the ~~lender~~third ~~agreed~~quarter ~~to restructure the Revolving Note into a Replacement Promissory Note. This Replacement Promissory Note carries interest at a stated rate of 18% with a maturity of June 1~~2019, ~~2016. The lender charged~~ the Company apaid ~~$25,000~~off ~~penalty~~three toconvertible ~~convert~~notes ~~the Revolving Note into a Replacement Promissory Note. The Replacement Promissory Note called for interest only payments~~ in ~~June,~~cash ~~July and August 2015. Starting~~ in ~~September~~ the terms called for the payment of interest, principal starting at $33,649 increasing monthly to $38,474 in June 2016, as the interest on the then outstanding balance fell. In addition, the Replacement Promissory Note called for the payment of a $106,000 Redemption Premium as part of the total monthly payment of $49,651. As a direct result of delays in opening the new Writer Square location, the lender agreed to interest only payments via ACH draft every Monday. In June 2015, the Company paid $1,080 per week, which was increased to $1,200 per week for July 1 through October 15, 2015. It was then increased to $1,500 per week from October 16, 2015 through the third week of March 2016, when it was increased to $2,000 per week. At both December 31, 2018 and 2017 the principal balance of the loan was $322,220. The Company also accrued the $25,000 conversion penalty, the $75,000 investment banking fee and the $106,000 redemption premiums as accrued interest because the Replacement Promissory Note allows for prepayment but all these fees are due upon prepayment. The creditor filed a claim demanding repayment of all amounts outstanding in the amount of $~~565~~472,~~267 plus interest, costs and attorney fees~~093.

~~F-13~~In the second quarter 2019, the Company entered into nine convertible notes in exchange for $591,000 in cash with a principal amount of $669,000. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes were recorded as a derivative liability in the amount of $891,345 with a related debt discount of $602,580, and an immediate loss of $291,355.

~~WEST~~In ~~COAST~~the ~~VENTURES~~second ~~GROUP~~quarter ~~CORP.~~2019, the Company paid off three convertible notes in cash in the amount of $504,812.

~~Notes~~In tothe ~~Consolidated~~first ~~Financial~~quarter ~~Statements~~2019, the Company entered into five convertible notes in exchange for $424,000 in cash. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes were recorded as a derivative liability in the amount of $467,348 with a related debt discount of $432,166, and an immediate loss of $35,182.

~~(9)~~In ~~NOTES~~the ~~PAYABLE~~first TOquarter ~~THIRD PARTIES~~2019, ~~continued~~the Company paid off two convertible notes in cash in the amount of $101,181.

e)In ~~Third~~the ~~Party~~fourth ~~Note~~quarter ~~Payable~~2018, ~~continued~~the Company entered into two convertible notes in exchange for $238,000 in cash. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes has been recorded as a derivative liability in the amount of $189,380, with a related debt discount of $138,000, and an immediate loss of $51,380. These notes were settled in 2019.

Certain third parties have advanced funds to WCVC to fund its ongoing operations. These advances have been formalized into demand notes payable, which, at September 30, 2017, amount to $54,039 and carry a 5% interest rate. WCVC has a $250,000 note payable which is due in April 2018 and carries a 5% interest rate. These liabilities have been incorporated into liabilities from discontinued operations.F-14

~~(10)~~WEST ~~STOCKHOLDERS’~~COAST ~~DEFICIT~~VENTURES GROUP CORP.

AtNotes ~~December~~to ~~31,~~Consolidated ~~2018~~Financial and 2017, the Company has 250,000,000 shares of par value $0.001 common stock authorized and 33,906,532 and 30,556,544 issued and outstanding, respectively. At December 31, 2018 and 2017, the Company has 10,000,000 shares of par value $0.001 preferred stock authorized and 500,000 and 500,000 issued and outstanding, respectively.Statements

In(9) ~~the~~NOTES ~~first~~PAYABLE ~~quarter~~TO ~~2018~~THIRD ~~the Company issued 100~~PARTIES,~~000~~ shares of common stock in exchange for services valued at $22,600. The Company issued 340,000 shares of common stock valued at $85,000 as a debt inducement. The Company issued 1,155,829 shares of common stock valued at $216,140 to settle $16,528 of convertible debt and 50,898 shares of common stock valued at $9,518 upon the cash-less exercise of a warrant.continued

Inc) ~~the~~Convertible ~~second~~Notes ~~quarter~~- ~~2018~~Variable ~~the Company issued 650~~Conversion,~~000~~ shares of common stock in exchange for services valued at $59,000. The Company issued 3,349,783 shares of common stock valued at $266,729 to settle $94,226 of convertible debt. The CEO of the Company and his spouse contributed 22,000,000 shares of common stock valued at $3,140,000 to the Company which cancelled the shares, pursuant to a request from OTC Markets as part of the approval to list the common stock on the OTCQB. continued

In the third quarter 2018, the Company ~~issued~~entered ~~750,000~~into ~~shares~~two ofconvertible ~~common~~notes ~~stock~~ in exchange for ~~services valued at~~ $1868,~~750.~~000 ~~The~~in ~~Company~~cash. ~~issued~~Based ~~764,205~~on ~~shares~~the ofvariable ~~common~~conversion ~~stock~~terms ~~valued~~the atbeneficial ~~$19,769~~conversion torights ~~settle~~embedded ~~$7,102~~in ofthese convertible ~~debt~~notes ~~and~~has been recorded as a ~~loss~~derivative ofliability ~~$12,767.~~in ~~The~~the ~~Company~~amount ~~issued~~of 5$151,~~111~~769,~~000~~ ~~shares~~with ofa ~~common~~related ~~stock~~debt indiscount ~~exchange~~of ~~for~~ $2768,~~220~~000, ~~in cash. The Company repurchased~~ and ~~retired~~an ~~1,546,727~~immediate ~~shares~~loss of ~~common stock for~~ $3483,~~000~~763. inThese ~~cash~~notes ~~under~~were asettled ~~settlement~~in ~~agreement with a convertible note holder~~2019.

In the ~~fourth~~first quarter 2018, the Company ~~issued~~entered 10into three convertible notes in exchange for $280,000~~,000~~ ~~shares~~in ofcash. ~~common~~Based ~~stock~~on tothe variable conversion terms the ~~Company’s~~beneficial ~~principal~~conversion ~~officer~~rights toembedded ~~settle~~in ~~$100,000~~these ofconvertible ~~accrued~~notes ~~payroll~~has ~~for~~been ~~him.~~recorded ~~The~~as ~~Company~~a ~~issued~~derivative 4liability in the amount of $306,~~625,~~000, ~~shares~~with ofa ~~common~~related ~~stock~~debt ~~valued~~discount atof $~~289~~306,~~375~~000. toThese ~~settle~~notes ~~$16,187~~were ofsettled ~~convertible~~in ~~debt~~2018, and ~~recorded~~which included a ~~loss~~penalty of $~~273~~40,~~188~~528.

~~During~~d) ~~2017~~Convertible ~~the~~Notes ~~Company~~- ~~through~~Fixed aConversion subsidiary issued 112,000 shares in exchange for $50,000 in cash. During 2017 the Company issued 500,000 shares of Series A preferred stock and 5,418,000 shares of common stock in connection with the reverse acquisition of Nixon Restaurant Group, Inc.

~~The~~In ~~rights~~the ~~and~~third ~~privileges~~quarter of2019, the ~~Series~~Company Aentered ~~preferred~~into ~~stock are solely as a “super voting” stock, whereby each~~ one ~~share~~convertible ofnote ~~Series~~in Aexchange ~~holds~~for ~~votes amounting to the equivalent of 100~~$108,000 ~~shares~~in ofcash ~~common~~with ~~stock.~~a ~~Therefore,~~note ~~the~~amount ~~500,000 shares~~ of ~~Series A issued and outstanding hold aggregate votes equal to 500~~$120,000~~,000 common shares~~. ~~The~~Based ~~Series~~on Athe ~~shares~~conversion ~~have~~terms nothe ~~dividend~~beneficial conversion rights, noembedded ~~liquidation~~in ~~preferences,~~this ~~are~~convertible ~~not~~note ~~transferable~~was ~~and~~recorded ~~can~~as bea ~~redeemed~~debt bydiscount ~~the holder for $5,000~~ in ~~cash from~~ the ~~Company~~amount ~~for~~of ~~the entire 500~~$28,~~000 share block at the holder’s option~~800.

In the second quarter 2019, the Company entered into one convertible note in exchange for $100,000 in cash. This note matures in one year and carry a 20% interest rates. The note converts into shares of the Company’s common stock at a price of $0.04 per share of Common Stock from October 10, 2019 to maturity. At maturity it is convertible at $0.05 per share as long as Company’s Volume Weighted Average Price, (11“VWAP”) ~~INCOME~~for ~~TAXES~~the ten trading days prior to the conversion notice is greater than $0.07 per share. If the VWAP is below $0.07, then the conversion formula is $0.05xVWAP/$0.07. Based on the conversion terms the beneficial conversion rights embedded in this convertible note was recorded as a debt discount in the amount of $56,250 and is being amortized over the life of the loan.

~~The~~During ~~Company~~the ~~recognizes~~third ~~deferred~~quarter ~~tax~~of ~~assets~~2018, ~~and~~two ~~liabilities~~parties ~~for~~related to each other purchased, through assignment, three of the ~~tax~~variable ~~effects~~conversion price convertible notes then outstanding. These parties immediately amended the notes into four notes to replace the variable conversion rate with a fixed conversion rate of ~~differences~~$0.0035 ~~between~~per share of the ~~financial~~Company’s ~~statements~~common ~~and~~stock. ~~tax~~The ~~basis~~maturity dates of ~~assets~~the three notes were extended to December 31, 2020 and ~~liabilities~~2021. ADuring ~~valuation~~2019, ~~allowance~~$82,831 isof ~~established~~these tonotes ~~reduce~~were ~~the~~converted ~~deferred~~into ~~tax~~23,665,964 ~~assets~~shares ifof itcommon isstock. ~~more~~The ~~likely~~aggregate ~~than~~remaining ~~not~~balance ~~that~~outstanding aof ~~deferred~~these ~~tax~~note ~~asset~~at ~~will~~December ~~not~~31, be2019 ~~realized~~is $156,862.

~~F-14~~During the fourth quarter of 2018, one of the parties that purchased one of the variable conversion price convertible notes assigned $50,000 of their note to a third party for $50,000 in cash. This new party immediately amended the assigned note portion to a fixed conversion rate of $0.01 per share of the Company’s common stock. The maturity date of this note was extended to December 31, 2021. During the second and third quarters of 2019 this note was converted into 5,000,000 shares of common stock, and the balance of this note is $0 at December 31, 2019.

~~WEST~~In ~~COAST~~the ~~VENTURES~~fourth ~~GROUP~~quarter ~~CORP~~2018, the Company entered into a convertible note in exchange for $100,000 in cash. This note matures in two years and carries a 10% Original Issue Discount (OID). The note converts into shares of the Company’s common stock at a price of $0.05 per share. In the second quarter 2019, this note was paid in full in cash. The balance of this note is $0 at December 31, 2019.

~~Notes~~e) toThird ~~Consolidated~~Party ~~Financial~~Note ~~Statements~~Payable with Subsidiary

~~(11)~~In ~~INCOME~~March ~~TAXES~~2015, ~~continued~~the Company entered into an agreement with a third party lender, who extended a $3,000,000 Senior Secured Note. Under the terms of this agreement a first draw was entered into in the amount of $375,000 as a Revolving Note. The lender retained $59,713 of this draw as fees. Under the terms of this Note, the Company was required to replace their credit card/debit card merchant processing to the lender. The lender retained 100% of the credit card/debit card transactions, and forwarded four wire transfers to the Company over a six week period. The credit card/debit card transactions for this six week period amounted

~~The components of income tax provision (benefit) related to continuing operations are as follows at December 31:~~F-15

	2018	2017
Current	$ -	$ -
Deferred	$ -	$ -
Total tax provisions	$ -	$ -

WEST COAST VENTURES GROUP CORP.

~~The~~Notes ~~following~~to isConsolidated aFinancial ~~reconciliation of the effective income tax rate with the statutory income tax rate at December 31:~~Statements

	2018	2017
U.S. Federal statutory income tax rate	(21)%	(34)%
State income tax, net of federal benefit	(1.6)%	(1.6)%
Other temporary differences, net	-	-
Valuation allowance	22.6%	35.6%
	0.0%	0.0%

(9) NOTES PAYABLE TO THIRD PARTIES, continued

~~The~~e) ~~net~~Third ~~deferred~~Party ~~tax~~Note ~~assets~~Payable ~~and~~with ~~liabilities~~Subsidiary, ~~included in the financial statements consist of the following amounts at~~continued

~~December~~to ~~31:~~$84,534. The lender remitted $42,379 of this amount to the Company. Of the $42,155 retained by the lender, $14,861 was applied as principal reduction, $7,088 was applied to interest expense and the remaining $20,206 was charged as fees. The Senior Secured Note also called for the payment of a $75,000 investment banking fee.

	2018	2017
Deferred tax assets:
Net operating loss carry forwards	$ 886,073	$ 610,016
Deferred compensation	131,416	66,416
Stock based compensation	56,302	17,610
Other	10,531	7,461
Total	-	-
Deferred tax liabilities:	-	-
Less: valuation allowance	(1,084,302)	(824,576)
Net deferred tax assets	$ -	$ -

In May 2015, when it was determined that this repayment structure was not practical for a restaurant operation, the lender agreed to restructure the Revolving Note into a Replacement Promissory Note. This Replacement Promissory Note carries interest at a stated rate of 18% with a maturity of June 1, 2016. The lender charged the Company a $25,000 penalty to convert the Revolving Note into a Replacement Promissory Note. The Replacement Promissory Note called for interest only payments in June, July and August 2015. Starting in September the terms called for the payment of interest, principal starting at $33,649 increasing monthly to $38,474 in June 2016, as the interest on the then outstanding balance fell. In addition the Replacement Promissory Note called for the payment of a $106,000 Redemption Premium as part of the total monthly payment of $49,651. As a direct result of delays in opening the new Writer Square location, the lender agreed to interest only payments via ACH draft every Monday. In June 2015, the Company paid $1,080 per week, which was increased to $1,200 per week for July 1 through October 15, 2015. It was then increased to $1,500 per week from October 16, 2015 through the third week of March 2016, when it was increased to $2,000 per week.

~~The~~At ~~change~~both inDecember ~~valuation~~31, ~~allowance~~2019 and 2018 the principal balance of the loan was $~~259~~322,~~746~~220. ~~and~~The ~~$365,970~~Company ~~for~~also accrued the ~~years~~$25,000 ~~ended~~conversion ~~December~~penalty, 31the $75,000 ~~2018~~investment banking fee and ~~2017~~the $106,000 ~~respectively.~~redemption Wepremiums ~~have~~as ~~recorded~~accrued ainterest ~~100%~~because ~~valuation~~the ~~allowance~~Replacement ~~related~~Promissory toNote ~~the~~allows ~~deferred~~for ~~tax~~prepayment ~~asset~~but ~~for~~all ~~the~~these ~~loss~~“fees” ~~from~~are ~~operations.~~due ~~The~~upon ~~ultimate~~prepayment. ~~realization~~In ofOctober ~~deferred~~2018, ~~tax~~the ~~assets~~lender isfiled ~~dependent~~a ~~upon~~claim ~~the~~demanding ~~generation~~repayment of ~~future~~all ~~taxable~~amounts ~~income~~outstanding ~~during~~in the ~~period~~amount inof ~~which~~$565,267. ~~temporary~~(See ~~differences~~Note ~~become deductible.~~16a)

~~F-15~~f) Third Party Notes Payable

~~WEST~~Certain ~~COAST~~third ~~VENTURES~~parties ~~GROUP~~have ~~CORP~~advanced funds to WCVC to fund its ongoing operations. These advances have been formalized into demand notes payable, which, at September 30, 2017, amount to $54,039 and carry a 5% interest rate. WCVC has a $250,000 note payable which is due in April 2018 and carries a 5% interest rate. These liabilities have been incorporated into liabilities from discontinued operations.

~~Notes~~(10) toOPERATING ~~Consolidated Financial Statements~~LEASES

~~(11~~a) ~~INCOME~~Adoption ~~TAXES~~of ASC Topic 842, ~~continued~~Leases

InOn ~~accordance~~January ~~with~~1, 2019, the ~~provisions~~Company ofadopted ~~ASC~~Topic ~~740:~~842 ~~Income~~using ~~Taxes,~~the wemodified ~~record~~retrospective amethod ~~liability~~applied ~~for~~to ~~uncertain~~leases ~~tax~~that ~~positions~~were ~~when~~in itplace isas ~~probable~~of ~~that~~January a1, ~~loss~~2019. ~~has~~Results ~~been~~for ~~incurred~~reporting ~~and~~periods ~~the~~beginning ~~amount~~after ~~can~~January be1, ~~reasonably~~2019 ~~estimated.~~are Atpresented ~~December~~under 31Topic 842, ~~2018~~while prior period amounts are not adjusted and ~~2017,~~continue weto ~~have~~be noreported ~~liabilities~~in ~~for~~accordance ~~uncertain~~with ~~tax~~our ~~positions~~historic accounting under Topic 840. WeThe ~~continually~~Company’s ~~evaluate~~leases ~~expiring~~consist ~~statutes~~of operating leases that relate to real estate rental agreements. All of ~~limitations,~~the ~~audits,~~value ~~proposed~~of ~~settlements,~~the ~~changes~~Company’s inlease ~~tax~~portfolio ~~law~~relates ~~and~~to ~~new~~real ~~authoritative~~estate ~~rulings~~lease agreements that were entered into starting in May 2014.

~~(12~~b) ~~COMMITMENTS~~Practical ~~AND~~Expedients ~~CONTINGENCIES~~and Elections

The Company elected the package of practical expedients permitted under the transition guidance, which allowed us to carryforward our historical lease classification, our assessment on whether a) ~~Real~~contract ~~Property~~is ~~Leases~~or contains a lease, and our initial direct costs for any leases that exist prior to adoption of the new standard. We also elected the short-term lease recognition exemption for all leases that qualify.

~~The Company leases six (6~~c) ~~restaurant~~Discount ~~spaces~~Rate ~~from~~Applied ~~unrelated~~to ~~parties.~~Property ~~Rent~~Operating ~~expense paid was $462,075 and $421,392 for the years ended December 31, 2018 and 2017.~~Lease

~~Future~~To determine the present value of the minimum future lease payments ~~under~~for ~~these~~operating ~~real~~leases ~~property~~at ~~lease~~January ~~agreements~~1, ~~are~~2019, asthe ~~follows:~~Company was required to estimate a rate of interest that we would have to pay to borrow on a collateralized basis over a similar term an amount

For the Year Ending December 31,	ESSE	IBE	IBA	IBWS	IBCH	IBCS	Total
2019	$ 36,000	$ 25,200	$ 74,795	$ 102,643	$ 67,477	$ 63,600	$ 369,715
2020	$ -	$ -	$ 77,038	$ 102,643	$ 69,501	$ 65,400	$ 314,582
2021	$ -	$ -	$ 25,931	$ 102,643	$ 23,394	$ 67,200	$ 219,168
2022	$ -	$ -	$ -	$ 104,354	$ -	$ 69,000	$ 173,354
2023	$ -	$ -	$ -	$ 112,908	$ -	$ 70,800	$ 183,708
Thereafter	$ -	$ -	$ -	$ 206,997	$ -	$ 354,000	$ 560,997
Total minimum lease payments	$ 36,000	$ 25,200	$ 177,764	$ 732,188	$ 160,372	$ 690,000	$ 1,821,524

F-16

~~ESSE:~~WEST ElCOAST ~~Senor~~VENTURES ~~Sol~~GROUP -CORP. ~~Evergreen; IBE: Illegal Burger - Evergreen; IBA: Illegal Burger - Arvada;~~

~~IBWS~~Notes -to ~~Illegal~~Consolidated ~~Burger~~Financial ~~- Writer Square; IBCH - Illegal Burger - Capital Hill; IBCS - Illegal Burger - CitiSet~~Statements

~~The~~(10) ~~Company’s~~OPERATING ~~leases for El Senor Sol - Evergreen locations expire on August 31~~LEASES, ~~2019.~~continued

bd) ~~Other~~Discount Rate Applied to Property Operating Lease, continued

~~The~~equal ~~Company is subject~~ to ~~asserted~~the ~~claims~~lease ~~and~~payments ~~liabilities~~in ~~that~~a ~~arise~~similar ineconomic environment (the ~~ordinary~~“incremental ~~course~~borrowing ofrate” ~~business~~or “IBR”). The Company ~~maintains~~determined ~~insurance~~the ~~policies~~appropriate toIBR ~~mitigate~~by ~~potential~~identifying ~~losses~~a ~~from~~reference ~~these~~rate ~~actions.~~and Inmaking ~~the~~adjustments ~~opinion~~that oftake ~~management,~~into ~~the~~consideration ~~amount~~financing ofoptions ~~the~~and ~~ultimate~~certain ~~liability~~lease-specific ~~with~~circumstances. ~~respect~~For tothe ~~those~~reference ~~actions~~rate, ~~will~~the ~~not~~Company ~~materially~~used ~~affect~~ the ~~Company’s~~interest ~~financial~~rate ~~position~~average orfor ~~results~~its oflatest ~~operations~~borrowings.

ce) ~~Litigation~~Right of Use Assets

OnRight ~~October~~of 8,use ~~2018,~~assets ~~the~~are ~~creditor~~included ~~holding~~in the ~~First~~consolidated ~~Amended~~Balance ~~Senior~~Sheet ~~Secured~~as Note from Illegal Burger, LLC filed suit in Broward County, Florida. The creditor is demanding $565,267 plus interest, costs and attorney fees. The Company expects to either negotiate a settlement agreement or to vigorously defend this action.follows:

Ff) Non-16current assets

~~WEST~~Right ~~COAST~~of ~~VENTURES~~use ~~GROUP~~assets, ~~CORP.~~net of amortization - $1,489,737.

~~Notes~~g) toTotal ~~Consolidated~~operating ~~Financial~~lease ~~Statements~~cost

~~(13)~~Individual ~~CONCENTRATIONS~~components OFof ~~CREDIT~~the ~~RISK~~total lease cost incurred by the Company is as follows:

a) Cash


	Year Ended December 31, 2019	Year Ended December 31, 2018
Operating lease expense	$594,664	$462,075

~~The~~Minimum ~~Company~~rental ~~maintains~~payments ~~its~~under ~~cash~~operating inleases ~~bank~~are ~~deposit~~recognized ~~accounts,~~on ~~which~~a ~~may,~~straight atline ~~times,~~basis ~~may~~over ~~exceed~~the ~~federally~~term ~~insured limits. The Company had no cash balance in excess~~ of ~~FDIC~~the ~~insured limits at December 31, 2018 and 2017~~lease.

~~(14~~h) ~~SUBSEQUENT~~Maturity ~~EVENTS~~of operating leases

a)The ~~Convertible~~amount ~~Notes~~of -future ~~Variable~~minimum ~~Conversion~~lease payments under operating leases at December 31, 2019 are as follows:

In the first quarter 2019 the Company entered into five convertible notes in exchange for $484,000. These notes mature in 6 months and 9 months. These notes carry an interest rate of 12% and a 10% Original issue Discount (OID). The OID will be recorded as a debt discount and amortized over the life of the loan. The notes convert into shares of the Company’s common stock at a price of 61% and 65% of the average of the two lowest trade prices and the lowest trade price for the Common Stock during the 15 and 20 Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes has been recorded as a derivative liability in the amount of $473,415, with a related debt discount of $437,136, and an immediate loss of $36,259.


	Operating Lease
Undiscounted future minimum lease payments:
2020	$ 432,312
2021	307,419
2022	241,002
2023	252,891
2024	256,264
Thereafter	540,491
Total	2,030,379
Amount representing imputed interest	(492,035)
Total operating lease liability	$ 1,538,343
Current portion of operating lease liability	$ 295,214
Operating lease liability, non-current	$ 1,243,129

~~b) Stockholders’ Equity~~ F-17

~~During~~WEST ~~the~~COAST ~~first~~VENTURES ~~quarter~~GROUP ~~2019 the Company increased its authorized common shares from 250,000,000 to 650,000,000 shares with no change to the par value~~CORP.

~~During~~Notes ~~the first quarter 2019 the Company 5,305,000 shares of common stock valued at $300,885~~ to ~~settle~~Consolidated ~~$18,568~~Financial ~~of convertible debt.~~Statements

c(11) ~~Acquisition~~LIABILITY ofTO ~~New~~ISSUE ~~Locations~~COMMON STOCK

InDuring ~~April~~the fourth quarter 2018 and second quarter 2019, the Company ~~has~~ entered into ~~agreements~~four to(4) ~~acquire~~Securities aPurchase ~~new~~Agreements, ~~location~~(SPAs), ~~that~~with isthree aparties, ~~pizza~~two ~~quick~~of ~~casual~~whom ~~restaurant~~are related to each other. ~~The~~All ~~Company~~four ~~expects~~of these SPAs have language prohibiting the holder to ~~re-brand~~own itmore ~~into~~than 4.99% of the ~~Company’s~~issued ~~new~~and ~~concept~~outstanding -shares ~~Illegal~~of ~~Pizza~~the Company at any time.

~~The~~In ~~restaurant~~connection iswith ~~located~~these SPAs the Company was entitled to receive $906,500 in ~~Lauderhill~~cash for the issuance of common stock, ~~Florida~~issuable at per share prices ranging between $0.0035 and $0.06 per share subject to downward adjustment based on volume weighted average price as defined at the date of issuance notice. The Company ~~issued~~received 5$249,000 in 2018 and $310,000 ~~shares~~in of2019 ~~common~~under ~~stock~~these toSPAs. ~~purchase~~The Company has not received the final September 2019 tranche of $~~313~~347,~~575~~500 inas ~~existing~~required ~~fixed~~under ~~assets~~one ~~and~~of ~~received~~the anSPAs. ~~additional~~Contractually, ~~$50~~under the SPAs,~~000~~ the Company is required to issue 88,619,381 shares. 1,537,246 shares were issued in ~~cash~~the third quarter 2019, under one of these SPAs. (See Note 16a)

~~F-17~~(12) STOCKHOLDERS’ DEFICIT

At December 31, 2019 and 2018, the Company had 10,000,000,000 and 250,000,000 shares of par value $0.001 common stock authorized and 918,470,359 and 33,906,532 issued and outstanding, respectively. At December 31, 2019 and 2018, the Company has 10,000,000 shares of par value $0.001 preferred stock authorized and 500,000 issued and outstanding.

On February 18, 2020, the Company (through an affirmative vote of the Company’s Board of Directors and the holders of a majority of the shares of the Company entitled to vote) adopted a plan to effect a reverse stock split in the ratio of 1:1,000. This reverse spit will be instituted upon approval by the Financial Industry Regulatory Agency, (FINRA).

Common Stock

In the fourth quarter 2019, the Company issued 2,500,000 shares of common stock as an inducement for the extension of convertible debt, valued at $157,500. The Company issued 3,997,266 shares of common stock valued at $286,044 to settle $13,990 of convertible debt pursuant to the modification of terms to fixed conversion rate. The Company issued 798,519,055 shares of common stock valued at $1,200,597 to settle $445,367 of convertible debt. The Company issued 36,348,494 shares of common stock in exchange for $41,053 in cash.

In the third quarter 2019, the Company issued 100,000 of common stock as an inducement fee for the extension of a convertible note, valued at $5,460. The Company issued 10,838,698 shares of common stock valued at $322,344 to settle $46,894 of convertible debt, pursuant to the modification of terms to fixed conversion rate. The Company issued 1,500,000 shares of common stock valued at $77,250 to settle $25,500 of convertible debt. The Company issued 1,537,246 shares of common stock valued at $57,647 for $32,282 of a Securities Purchase Agreement (SPA) funded in October 2018. The Company issued 6,404,057 shares of common stock in exchange for $120,423 in cash.

In the first quarter 2018 the Company issued 100,000 shares of common stock in exchange for services valued at $22,600. The Company issued 340,000 shares of common stock valued at $85,000 as a debt inducement. The Company issued 1,155,829 shares of common stock valued at $216,140 to settle $16,528 of convertible debt and 50,898 shares of common stock valued at $9,518 upon the cash-less exercise of a warrant.

In the second quarter 2018 the Company issued 650,000 shares of common stock in exchange for services valued at $59,000. The Company issued 3,349,783 shares of common stock valued at $266,729 to settle $94,226 of convertible debt. The CEO of

F-18

WEST COAST VENTURES GROUP CORP.

Notes to Consolidated Financial Statements

(12) STOCKHOLDERS’ DEFICIT, continued

the Company and his spouse contributed 22,000,000 shares of common stock valued at $3,140,000 back to the Company which cancelled the shares, pursuant to a request from OTC Markets as part of the approval to list the common stock on the OTCQB.

In the third quarter 2018 the Company issued 750,000 shares of common stock in exchange for services valued at $18,750. The Company issued 764,205 shares of common stock valued at $19,769 to settle $7,102 of convertible debt and recorded a loss of $12,767. The Company issued 5,111,000 shares of common stock in exchange for $27,220 in cash. The Company repurchased and retired 1,546,727 shares of common stock for $34,000 in cash under a settlement agreement with a convertible note holder.

In the fourth quarter 2018 the Company issued 10,000,000 shares to the Company’s principal officer to settle $100,000 of accrued compensation. The Company issued 4,625,000 shares of common stock valued at $289,375 to settle $16,187 of convertible debt and recorded a loss of $273,188.

Preferred stock

The rights and privileges of the Series A preferred stock are solely as a “super voting” stock, whereby each one share of Series A holds votes amounting to the equivalent of 100,000 shares of common stock. Therefore, the 500,000 shares of Series A issued and outstanding hold an aggregate votes equal to 500,000,000 common shares. The Series A shares have no dividend rights, no liquidation preferences, are not transferable and can be redeemed by the holder for $5,000 in cash from the Company for the entire 500,000 share block at the holders’ option.

(13) INCOME TAXES

The Company recognizes deferred tax assets and liabilities for the tax effects of differences between the financial statements and tax basis of assets and liabilities. A valuation allowance is established to reduce the deferred tax assets if it is more likely than not that a deferred tax asset will not be realized.

The components of income tax provision (benefit) related to continuing operations are as follows at December 31:


	2019	2018
Current	$ -	$ -
Deferred	$ -	$ -
Total tax provisions	$ -	$ -

The following is a reconciliation of the effective income tax rate with the statutory income tax rate at December 31:


	2019	2018
U.S. Federal statutory income tax rate	(21)%	(21)%
State income tax, net of federal benefit	(1.6)%	(1.6)%
Other temporary differences, net	-	-
Valuation allowance	22.6%	22.6%
	0.0%	0.0%

F-19

WEST COAST VENTURES GROUP CORP.

Notes to Consolidated Financial Statements

(13) INCOME TAXES, continued

The net deferred tax assets and liabilities included in the financial statements consist of the following amounts at

December 31:


	2019	2018
Deferred tax assets:
Net operating loss carry forwards	$ 1,480,457	$ 886,073
Deferred compensation	222,783	131,416
Stock based compensation	167,356	56,302
Other	13,666	10,531
Total	1,884,262	1,084,322
Deferred tax liabilities:	-	-
Less: valuation allowance	(1,884,262)	(1,084,322)
Net deferred tax assets	$ -	$ -

The change in valuation allowance was $799,940 and $259,746 for the years ended December 31, 2019 and 2018, respectively. We have recorded a 100% valuation allowance related to the deferred tax asset for the loss from operations. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the period in which temporary differences become deductible.

In accordance with the provisions of ASC 740: Income Taxes, we record a liability for uncertain tax positions when it is probable that a loss has been incurred and the amount can be reasonably estimated. At December 31, 2019 and 2018, we have no liabilities for uncertain tax positions. We continually evaluate expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings.

(14) COMMITMENTS AND CONTINGENCIES

a) Real Property Leases

The Company leases seven (7) restaurant spaces and its corporate office from unrelated parties. Rent expense paid was $594,664 and $462,075 for the years ended December 31, 2019 and 2018.

F-20

WEST COAST VENTURES GROUP CORP.

Notes to Consolidated Financial Statements

(14) COMMITMENTS AND CONTINGENCIES, continued

a) Real Property Leases, continued

Future minimum lease payments under these real property lease agreements are as follows:


For the Year Ending December 31,	ESSE	IBE	IBA	IBWS	IBCH	IBCS	IPL
2020	$ -	$ -	$ 77,038	$ 102,643	$ 69,501	$ 65,400	$ 64,690
2021	$ -	$ -	$ 25,931	$ 102,643	$ 23,394	$ 67,200	$ 66,151
2022	$ -	$ -	$ -	$ 104,354	$ -	$ 69,000	$ 67,648
2023	$ -	$ -	$ -	$ 112,908	$ -	$ 70,800	$ 69,183
2024	$ -	$ -	$ -	$ 112,908	$ -	$ 72,600	$ 70,756
Thereafter	$ -	$ -	$ -	$ 94,090	$ -	$ 281,400	$ 165,001
Total minimum lease payments	$ -	$ -	$ 102,969	$ 629,546	$ 92,895	$ 626,400	$ 503,429

	WCVC	Total
2020	$ 53,040	$ 432,312
2021	$ 22,100	$ 307,419
2022	$ -	$ 241,002
2023	$ -	$ 252,891
2024	$ -	$ 256,264
Thereafter	$ -	$ 540,491
Total minimum lease payments	$ 75,140	$ 2,030,379

ESSE: El Senor Sol - Evergreen; IBE: Illegal Burger - Evergreen; IBA: Illegal Burger - Arvada; IBWS - Illegal Burger - Writer Square; IBCH - Illegal Burger - Capital Hill; IBCS - Illegal Burger - CitiSet; IPL - Illegal Pizza - Lauderhill; WCVC - corporate office. The Company’s leases for the Evergreen locations expired on August 31, 2019, and are currently operating on a month to month basis.

b) Other

The Company is subject to asserted claims and liabilities that arise in the ordinary course of business. The Company maintains insurance policies to mitigate potential losses from these actions. In the opinion of management, the amount of the ultimate liability with respect to those actions will not materially affect the Company’s financial position or results of operations.

F-21

WEST COAST VENTURES GROUP CORP.

Notes to Consolidated Financial Statements

(14) COMMITMENTS AND CONTINGENCIES, continued

c) Litigation

On October 8, 2018, the creditor holding the First Amended Senior Secured Note from Illegal Burger, LLC filed suit in Broward County, Florida. The creditor is demanding $565,267, including interest, plus attorney’s fees and costs. The Company expects to either negotiate a settlement agreement or to vigorously defend this action.

(15) CONCENTRATIONS OF CREDIT RISK

a) Cash

The Company maintains its cash in bank deposit accounts, which may, at times, may exceed federally insured limits. The Company had no cash balance in excess of FDIC insured limits at December 31, 2019 and 2018.

(16) SUBSEQUENT EVENTS

a) Litigation and threatened litigation

The two related party holders of four fixed rate convertible notes and two of the SPAs for the purchase of common shares has threatened litigation relating to these securities, based on a claim that the Company does not have sufficient shares reserved for issuance under these notes and SPAs as required. The Company claims that these holders have defaulted under the SPA that required a $347,500 tranche to be invested in September 2019, and that the failure to provide these funds directly caused the circumstances causing the claimed shortfall in reserved shares.

In May 2020 the U.S. Securities and Exchange Commission, (SEC), filed a civil action alleging fraud against the creditor in Note 13c above. The SEC also appointed a court supervised receiver of this creditor, who has stayed all current litigation involving this creditor. The Company expects to reach a settlement with this receiver when they lift the stay.

b) Deficiency in Stockholders’ Equity

In the first quarter 2020, the Company issued 2,035,049,580 shares of common stock valued at $491,505 to settle $114,658 of convertible debt. In addition, the Company issued 56,000,000 shares of common stock in exchange for $39,200 in cash.

In the second quarter 2020, the Company issued 100,000,000 shares of common stock valued at $10,000 to settle $6,000 of convertible debt.

c) COVID-19 pandemic

The short term impact of COVID-19 are the result of government directives, first from the City of Denver, CO, and subsequently from the States of Colorado and Florida requiring only pick-up and delivery orders of food and beverages. Under these directives we were required to close our dining areas in all our restaurants. This has caused a fall-off in business, which has been somewhat offset by an increase in pick-up and delivery orders. We have been able to keep our restaurants open for pick-up and delivery orders. This in turn has allowed us to continue to employ our staff at the restaurants. We intend to continue to pay our employees through this crisis in the hopes that once the crisis has passed and we will be allowed to return to more normal operations we can do so quickly by bringing our existing staff back in without having to train a large number of new staff. Our Denver area locations were allowed to resume 50% of dining facilities beginning on May 29.

The Company has had to develop and implement new policies and procedures for use in all of it restaurants to foster continued customer confidence when they purchase food from us during this crisis. The Company has had to develop and implement procedures for “drive through” pick up orders as none of our restaurants are equipped with drive through windows. We have expended considerable time and effort developing multiple means to get the information out to the buying public that all our restaurants are open for pick-up and delivery orders.

F-22

WEST COAST VENTURES GROUP CORP.

Notes to Consolidated Financial Statements

(16) SUBSEQUENT EVENTS, continued

c) COVID-19 pandemic, continued

The Company temporarily closed our El Senor Sol - Evergreen, CO location because it was not receiving sufficient take out/delivery orders to make sense remaining open. The Company elected to re-brand this location during this time. The Company had been seeking to complete a re-branding in a way that would cause the least financial harm. The pandemic provided a perfect opportunity. The location’s new brand is Kalaka Mexican Kitchen.

d) US Small Business Administration Paycheck Protection Program (PPP)

In April 2020, the Company received a loan of $298,700 under the SBA’s PPP. Depending upon the final determination of the requirements for forgiveness under this program, the Company expects its PPP loan to be substantially to totally forgiven. Any amount not forgiven becomes a two year loan at 1% interest.

e) US Small Business Administration Economic Injury Disaster Loans (EIDL)

In May 2020, the Company, through one of its operating LLC subsidiaries, received a SBA EIDL in the amount of $21,900. In June 2020, the Company, through five of its operating LLC subsidiaries received five SBA EIDL in the total amount of $747,500 and six EIDL Grants totaling $36,000. The EIDL are 30 year loans carrying a 3.25% interest rate with the first payment due in June 2021. The Grants do not get repaid.

f) Notes Payable to Third Parties

During the state imposed pandemic requirement to reduce operations, the lenders of the Future Receivable Sales Agreements agreed to lower the payments due to them. Also the party holding the remaining One Year Note and one of the Fixed Rate Convertible Notes agreed to a 90 day extension to the maturity and a subsequent 90 day extension upon payment of the initial one year interest in the amount of $40,000. Several holders of Variable Rate Convertible Notes have also agreed to 90 day extensions to the maturity of their notes. The Company has requested extensions on the balance of the Variable Rate Convertible Notes, but has not received a response from the lenders.

F-23

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

None.

Item 9A. Controls and Procedures

We maintain "“disclosure controls and procedures”," as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the "“Exchange Act"”), that are designed to ensure that information required to be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. In designing and evaluating our disclosure controls and procedures, management recognized that disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable assurance that the objectives of the disclosure controls and procedures are met. Additionally, in designing disclosure controls and procedures, our management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible disclosure controls and procedures. The design of any disclosure controls and procedures also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.

As of April 15, ~~2019~~2020, the Company carried out an evaluation, under the supervision and participation of our Chief Executive Officer, of the effectiveness of the design and operation of our disclosure controls and procedures. Based on this evaluation, our Chief Executive Officer a concluded that our disclosure controls and procedures were ineffective in ensuring that information required to be disclosed by us in our periodic reports is recorded, processed, summarized and reported, within the time periods specified for each report and that such information is accumulated and communicated to our management, including our principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

Material weaknesses noted were: lack of an audit committee; lack of a majority of outside directors on board of directors, resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures; inadequate segregation of duties consistent with control objectives affecting authorization, recordkeeping, custody of assets, and reconciliations; ineffective oversight of the entity’s financial reporting and internal control by management and those charged with governance; and, management is dominated by a small group without adequate compensating controls.

Management believes that the material weaknesses set forth above did not have an effect on our financial results. However, management believes that the lack of a functioning audit committee and the lack of a majority of outside directors on our board of directors results in ineffective oversight in the establishment and monitoring of required internal controls and procedures, which could result in a material misstatement in our financial statements in future periods.

Item 9B. Other Information.

None.

2416

PART III

Item 10. Directors, Executive Officers and Corporate Governance.

~~(a)~~Information ~~Effective~~Regarding onOur ~~October~~Board ~~4, 2017, Mr. Miroslaw Gorny (the then sole officer~~ of ~~WCVC) resigned as an officer and was replaced by Mr. James M. Nixon. Mr. Gorny, on the same date, appointed Mr. Nixon as co-director and Mr. Gorny subsequently resigned as director.~~ Directors

~~(b)~~Pursuant ~~Accordingly,~~to ~~Mr.~~our ~~Nixon~~Bylaws, ~~became~~ the ~~President/Chief~~number ~~Executive~~of ~~Officer,~~directors ~~Secretary~~is fixed and ~~sole~~may ~~director~~be ofincreased ~~WCVC~~or ondecreased ~~October~~from 4,time ~~2017.~~to ~~Prior~~time toby ~~the~~resolution ~~acquisition~~of our Board of Directors (the ~~control~~“Board”). ~~block~~The ofCompany ~~shares~~currently inhas ~~December~~one ~~2016,~~individual serving on the Board (Mr. Nixon). ~~had~~The noCompany ~~relationship~~will ~~with~~seek ~~WCVC.~~to Hefill isvacancies ~~also~~on ~~President/CEO~~the Board as it executes on its business plan and ~~sole~~is ~~director~~able to fund the cost of ~~NRG~~errors and omissions insurance coverage for the Board.

Name	Age	Position
James M.Nixon	52	President/Chief Executive Officer, Secretary and Director

Information with respect to our current directors is shown below.


Name	Age	Director Since	Position(s) Held

James M. Nixon	53	2017	President; Chief Executive Officer; Chairman; Chief Financial Officer; Secretary

Set forth below is a brief description of the background and business experience of our sole executive officer and director for the past five years.

James M. Nixon

James M. Nixon has served as our President, Chief Executive Officer and Director since the 2015 inception of NRG. In March 2011, Mr. Nixon was the owner and president of our wholly-owned subsidiary, J&F Restaurants, LLC which opened El Senor Sol in 2011 and our first Illegal Burger in 2013. In 2013, Mr. Nixon founded our wholly-owned subsidiary, Illegal Burger, LLC which owns our Illegal Burger location at 15400 W. 64^th Avenue, Unit E1A, Arvada, Colorado 80007. In 2015, Mr. Nixon founded Illegal Burger Writer Square, LLC which operates our Illegal Burger location at 1512 Larimer Street, Unit R12, Denver, Colorado.

As our sole director, Mr. Nixon provides his experience overseeing and managing our day to day operations.

Employment Agreements

We have a formal employment agreement with our sole director and officer. This agreement calls for us to pay him $120,000 per year.

Family Relationships

There are no family relationships between any of our directors, executive officers and proposed directors or executive officers.

Involvement in Certain Legal Proceedings

To the best of our knowledge, none of our directors or executive officers has, during the past ten years:

been convicted in a criminal proceeding or been subject to a pending criminal proceeding (excluding traffic violations and other minor offences);

2. had any bankruptcy petition filed by or against the business or property of the person, or of any partnership, corporation or business association of which he was a general partner or executive officer, either at the time of the bankruptcy filing or within two years prior to that time;

3.had ~~been~~any ~~subject~~bankruptcy topetition ~~any~~filed ~~order,~~by ~~judgment,~~ or ~~decree,~~against ~~not~~the ~~subsequently~~business ~~reversed, suspended~~ or ~~vacated,~~property of ~~any~~the ~~court of competent jurisdiction or federal or state authority~~person, ~~permanently~~ or ~~temporarily~~of ~~enjoining,~~any ~~barring~~partnership, ~~suspending~~corporation or ~~otherwise~~business ~~limiting,~~association ~~his~~of ~~involvement~~which inhe ~~any~~was ~~type~~a ofgeneral ~~business,~~partner ~~securities,~~or ~~futures,~~executive ~~commodities~~officer, ~~investment,~~either ~~banking,~~at ~~savings~~the ~~and~~time ~~loan,~~of orthe ~~insurance~~bankruptcy ~~activities,~~filing or towithin betwo ~~associated~~years ~~with~~prior ~~persons~~to ~~engaged~~that ~~in any such activity~~time;

2517

43. been found by a court of competent jurisdiction in a civil action or by the SEC or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated;

5. been ~~the~~ subject ~~of, or a party~~ to, any ~~federal or state judicial or administrative~~ order, judgment, ~~decree,~~ or ~~finding~~decree, not subsequently reversed, suspended or vacated, ~~(not~~of ~~including~~ any ~~settlement~~court of acompetent ~~civil~~jurisdiction ~~proceeding~~or ~~among private litigants), relating to an alleged violation of any~~ federal or state ~~securities or commodities law or regulation~~authority, ~~any~~permanently ~~law~~ or ~~regulation~~temporarily ~~respecting~~enjoining, ~~financial~~barring, ~~institutions~~suspending or ~~insurance~~otherwise ~~companies including~~limiting, ~~but~~his ~~not~~involvement ~~limited~~in ~~to,~~any atype ~~temporary~~of orbusiness, ~~permanent~~securities, ~~injunction~~futures, ~~order~~commodities, ofinvestment, ~~disgorgement or restitution~~banking, ~~civil~~savings ~~money penalty or temporary or permanent cease-~~and~~-desist~~ ~~order~~loan, or ~~removal~~insurance ~~or prohibition order~~activities, or ~~any~~to ~~law~~be orassociated ~~regulation~~with ~~prohibiting~~persons ~~mail~~engaged ~~or wire fraud or fraud~~ in ~~connection with~~ any ~~business~~such ~~entity~~activity; or

64. been the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26)), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a)(29)), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

been found by a court of competent jurisdiction in a civil action or by the SEC or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated;

been the subject of, or a party to, any federal or state judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated (not including any settlement of a civil proceeding among private litigants), relating to an alleged violation of any federal or state securities or commodities law or regulation, any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order, or any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or

been the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26)), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a)(29)), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

Compliance with Section 16(A) of the Securities Exchange Act of 1934

Section 16(a) of the Securities Exchange Act of 1934, as amended, requires our executive officers and directors and persons who own more than 10% of a registered class of our equity securities to file with the SEC initial statements of beneficial ownership, reports of changes in ownership and annual reports concerning their ownership of our shares of common stock and other equity securities, on Forms 3, 4 and 5, respectively. Executive officers, directors and greater than 10% shareholders are required by the SEC regulations to furnish us with copies of all Section 16(a) reports they file.

Based solely on our review of the copies of such forms received by our company, or written representations from certain reporting persons that no Form 5s were required for those persons, we believe that, during the fiscal year ended December 31, 2017, all filing requirements applicable to our officers, directors and greater than 10% beneficial owners as well as our officers, directors and greater than 10% beneficial owners of our subsidiaries were complied with.

Code of Ethics

We have not adopted a code of ethics that applies to our principal executive officer, principal financial officer, principal accounting officer or controller. We only have one officer and director and do not believe we need a code of ethics at this time.

Committees of the Board

Our Company currently does not have nominating, compensation or audit committees or committees performing similar functions nor does our company have a written nominating, compensation or audit committee charter. Our directors believe that it is not necessary to have such committees, at this time, because the functions of such committees can be adequately performed by the board of directors.

Board Diversity

While we do not have a formal policy on diversity, our board of directors considers diversity to include the skill set, background, reputation, type and length of business experience of our board of directors members, as well as, a particular nominee’s contributions to that mix. Our board of directors believes that diversity brings a variety of ideas, judgments, and considerations that can benefit our shareholders and us.

Stockholder Communications

We do not have a formal policy regarding communications with our board of directors, or for the consideration of director candidates recommended by shareholders. To date, no shareholders have made any such recommendations.

Item 11. Executive Compensation.

Mr. James Nixon became the sole officer of WCVC after the closing of the acquisition, namely October 4, 2017. The following table sets forth the compensation earned during the years ended December 31, 2019, 2018, 2017, 2016, and 2015 by NRG officers who became officers of the Company, respectively on October 4, 2017:


		Annual Compensation		Long Term Compensation Awards
Name and Principal Position		Salary ($)	Bonus ($)	Securities Underlying Options
James M. Nixon, President	2019	$ 120,000	$ 0	$0
	2018	$120,000	$0	$0
	2017	$120,000	$ 0	$ 0
	2016	$120,000	$ 0	$ 0
	2015	$170,500	$ 0	$ 0

		Annual Compensation		Long Term Compensation Awards
Name and Principal Position		Salary ($)	Bonus ($)	Securities Underlying Options
James M. Nixon, President	2018	$ 120,000	$ 0	$ 0
	2017	$ 120,000	$ 0	$ 0
	2016	$ 120,000	$ 0	$ 0
	2015	$ 170,500	$ 0	$ 0

Grants of Plan-Based Awards

During the fiscal year ended December 31, ~~2018~~2019 we did not grant any stock options.

Option Exercises and Stock Vested

During our fiscal year ended December 31, ~~2018~~2019 there were no options exercised by our named officers.

Compensation of Directors

We do not have any agreements for compensating our directors for their services in their capacity as directors, although such directors are expected in the future to receive stock options to purchase shares of our common stock as awarded by our board of directors.

Executive Compensation Philosophy

Our Board of Directors determines the compensation given to our executive officers in their sole determination. Our Board of Directors reserves the right to pay our executive or any future executives a salary, and/or issue them shares of common stock in consideration for services rendered and/or to award incentive bonuses which are linked to our performance, as well as to the individual executive officer’s performance. This package may also include long-term stock-based compensation to certain executives, which is intended to align the performance of our executives with our long-term business strategies. Additionally, while our Board of Directors has not granted any performance base stock options to date, the Board of Directors reserves the right to grant such options in the future, if the Board in its sole determination believes such grants would be in the best interests of the Company.

Incentive Bonus

The Board of Directors may grant incentive bonuses to our executive officer and/or future executive officers in its sole discretion, if the Board of Directors believes such bonuses are in the Company’s best interest, after analyzing our current business objectives and growth, if any, and the amount of revenue we are able to generate each month, which revenue is a direct result of the actions and ability of such executives.

Pension, Retirement or Similar Benefit Plans

There are no arrangements or plans in which we provide pension, retirement or similar benefits for directors or executive officers. We have no material bonus or profit sharing plans pursuant to which cash or non-cash compensation is or may be paid to our directors or executive officers, except that stock options may be granted at the discretion of the board of directors or a committee thereof.

Indebtedness of Directors, Senior Officers, Executive Officers and Other Management

None of our directors or executive officers or any associate or affiliate of our company during the last two fiscal years, is or has been indebted to our company by way of guarantee, support agreement, letter of credit or other similar agreement or understanding currently outstanding.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

The following table sets forth, as of December 31, ~~2018~~2019, certain information with respect to the beneficial ownership of our common shares by each shareholder known by us to be the beneficial owner of more than 5% of our common shares, as well as by each of our current directors and executive officers as a group. Each person has sole voting and investment power with respect to the shares of common stock, except as otherwise indicated. Beneficial ownership consists of a direct interest in the shares of common stock, except as otherwise indicated.


Name and Address of Beneficial Owner	Amount and Nature of Beneficial Ownership	Percentage of Class ⁽¹⁾
James M. Nixon 6610 Holman Street, Suite 301 Arvada, CO 80004	14,000,000 Common Shares Direct	0.45%
*Directors and Executive Officers as a Group*	*14,000,000 Common Shares*	*0.45%*

Name and Address of Beneficial Owner	Amount and Nature of Beneficial Ownership	Percentage of Class (1)
James M. Nixon 15400 West 64 th Avenue, Unit E1A Arvada, CO 80007	14,000,000 Common Shares Direct	34.1%
Directors and Executive Officers as a Group	14,000,000 Common Shares	34.1%

1. Under Rule 13d-3, a beneficial owner of a security includes any person who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise has or shares: (i) voting power, which includes the power to vote, or to direct the voting of shares; and (ii) investment power, which includes the power to dispose or direct the disposition of shares. Certain shares may be deemed to be beneficially owned by more than one person (if, for example, persons share the power to vote or the power to dispose of the shares). In addition, shares are deemed to be beneficially owned by a person if the person has the right to acquire the shares (for example, upon exercise of an option) within 60 days of the date as of which the information is provided. In computing the percentage ownership of any person, the amount of shares outstanding is deemed to include the amount of shares beneficially owned by such person (and only such person) by reason of these acquisition rights. As a result, the percentage of outstanding shares of any person as shown in this table does not necessarily reflect the person’s actual ownership or voting power with respect to the number of shares of common stock actually outstanding on December 31, 2019. As of December 31, 2019 there were 918,470,359 shares of our company’s common stock issued and outstanding.

1. Under Rule 13d-3, a beneficial owner of a security includes any person who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise has or shares: (i) voting power, which includes the power to vote, or to direct the voting of shares; and (ii) investment power, which includes the power to dispose or direct the disposition of shares. Certain shares may be deemed to be beneficially owned by more than one person (if, for example, persons share the power to vote or the power to dispose of the shares). In addition, shares are deemed to be beneficially owned by a person if the person has the right to acquire the shares (for example, upon exercise of an option) within 60 days of the date as of which the information is provided. In computing the percentage ownership of any person, the amount of shares outstanding is deemed to include the amount of shares beneficially owned by such person (and only such person) by reason of these acquisition rights. As a result, the percentage of outstanding shares of any person as shown in this table does not necessarily reflect the person’s actual ownership or voting power with respect to the number of shares of common stock actually outstanding on December 31, 2017. As of December 31, 2018 there were 32,203,271 shares of our company’s common stock issued and outstanding.20

Changes in Control

We are not aware of any arrangements that may result in “changes in control” as that term is defined by the provisions of Item 403 of Regulation S.

James M. Nixon holds a non-interest bearing demand loan to WCVC with a balance of $~~206,434~~0 and $94206,~~409~~434 at December 31, ~~2018~~2019 and December 31, ~~2017~~2018.

Item 14. Principal Accounting Fees and Services.

For our fiscal years ended December 31, ~~2018~~2019 and December 31, ~~2017~~2018, we were billed approximately $54,000 and $2454,000, respectively, for professional services rendered for the audit and reviews of our financial statements. Our Principal Accountant provided no tax or consulting services during ~~2018~~2019 and ~~2017~~2018.

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PART IV

Item 15. Exhibits, Financial Statement Schedules.

(a)

Financial Statements

(1)

Financial statements for our company are listed in the index under Item 8 of this document.

(2)

All financial statement schedules are omitted because they are not applicable, not material or the required information is shown in the financial statements or notes thereto.

(b)

Exhibits

Exhibit Number	Description
(3)	Articles of Incorporation
3.1	Articles of Merger by and between the Company and its wholly owned subsidiary, West Coast Ventures Group Corp, filed with the Nevada Secretary of State on February 4, 2016.
3.2	Certificate of Amendment of Articles of Incorporation, filed with the Nevada Secretary of State on February 4, 2016.
(31)	Rule 13a-14 (d)/15d-14d) Certifications
31.1*	Section 302 Certification by the Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer
(32)	Section 1350 Certifications
32.1**	Section 906 Certification by the Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer
32.1*	Section 906 Certification by the Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer
101*	Interactive Data File
101**	Interactive Data File
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document
* Filed herewith. ** Furnished herewith

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SIGNATURES

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

		West Coast Ventures Group Corp.
		(Registrant)
Dated: April 16, 2019		/s/ James Nixon
Dated: July 1, 2020		/s/ James Nixon
		James Nixon
		President, Chief Executive Officer, Chief Financial Officer, Secretary and Director
		(Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Dated: April 16, 2019		/s/ James Nixon
Dated: July 1, 2020		/s/ James Nixon
		James Nixon
		President, Chief Executive Officer, Chief Financial Officer, Secretary and Director
		(Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

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Filing Compare · WEST COAST VENTURES GROUP CORP.