UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

~~[X]~~☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES

EXCHANGE ACT OF 1934 FOR THE YEAR ENDED SEPTEMBER 30, ~~2019~~2020

Commission file number 000-55256

KIBUSH CAPITAL CORPORATION

(Exact Name of Small Business Issuer as specified in its charter)

NEVADA

(State or other Jurisdiction of Incorporation or Organization)

c/o CSC Services of Nevada, Inc.

2215-B Renaissance Drive

Las Vegas, Nevada 89119

(Address of principal executive offices)

+(61) 398464288

(Issuer’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:		Securities registered pursuant to section 12(g) of the Act:
None		Common Stock

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ~~[ ]~~ ☐ NO ~~[X]~~ ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act: YES ~~[ ]~~ ☐ NO ~~[X]~~ ☒

Indicate by check mark whether the registrant (1) has filed all reports required 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 past 90 days. YES ~~[X]~~☒ NO ~~[ ]~~☐

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

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulations S-K 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, or a smaller ~~reporting~~ reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 if the Exchange Act.

Large Accelerated Filer [☐ ] Accelerated Filer [☐ ] Non-accelerated Filer (Do not check if smaller reporting company) [☐ ] Smaller Reporting Company ~~[X]~~☒

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

State the 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, sold, or the average bid and asked price of such common equity, as of ~~September~~August 30, ~~2019~~2021: $~~175~~2,~~814~~ 699,224 (based upon ~~293~~ 586,~~024~~787,~~533~~985 shares of non-affiliate stock)

As of ~~March~~August 1230, ~~2020~~2021, there were ~~443~~737,~~354~~087,~~541~~103 shares of the registrant’s common stock outstanding and 38,000,000 shares of the registrant’s preferred stock.

TABLE OF CONTENTS

		Page
	PART I
Item 1.	Business.	3
Item 1A.	Risk Factors.	6
Item 1B.	Unresolved Staff Comments.	6
Item 2.	Properties.	6
Item 3.	Legal Proceedings.	36
	PART II
Item 4.	Market Price for the Registrant’s Common Equity, Related Stockholders Matters and Issuer Purchases of Equity Securities.	6
Item 5.	Selected Financial Data.	8
Item 6.	Management’s Discussion and Analysis of Financial Condition and Results of Operation.	8
Item 6A.	Quantitative and Qualitative Disclosures About Market Risk.	11
Item 7.	Financial Statements and Supplementary Data.	11
Item 8.	Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.	3130
Item 8A.	Disclosure Controls and Procedures.	3130
Item 8B.	Other Information.	3332
	PART III
Item 9.	Directors, Executive Officers and Corporate Governance.	3332
Item 10.	Executive Compensation.	3534
Item 11.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.	37
Item 12.	Certain Relationships and Related Transactions, and Director Independence.	3938
Item 13.	Principal Accounting Fees and Services.	3938
	PART IV
Item 14.	Exhibits and Financial Statement Schedules.	4039
Signatures		4140
Exhibit Index

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CAUTIONARY NOTE REGARDING EXPLORATION STAGE STATUS

We are considered an “exploration stage” company under the U.S. Securities and Exchange Commission (“SEC”) Industry Guide 7, Description of Property by Issuers Engaged or to be Engaged in Significant Mining Operations (“Industry Guide 7”), because we do not have reserves as defined under Industry Guide 7. Reserves are defined in Guide 7 as that part of a mineral deposit which can be economically and legally extracted or produced at the time of the reserve determination. The establishment of reserves under Guide 7 requires, among other things, certain spacing of exploratory drill holes to establish the required continuity of mineralization and the completion of a detailed cost or feasibility study.

Because we have no reserves as defined in Industry Guide 7, we have not exited the exploration stage and continue to report our financial information as an exploration stage entity as required under Generally Accepted Accounting Principles (“GAAP”). Although for purposes of FASB Accounting Standards Codification Topic 915, Development Stage Entities, we have exited the development stage and no longer report inception to date results of operations, cash flows and other financial information, we will remain an exploration stage company under Industry Guide 7 until such time as we demonstrate reserves in accordance with the criteria in Industry Guide 7.

Because we have no reserves, we have and will continue to expense all mine construction costs, even though these expenditures are expected to have a future economic benefit in excess of one year. We also expense our reclamation and remediation costs at the time the obligation is incurred. Companies that have reserves and have exited the exploration stage typically capitalize these costs, and subsequently amortize them on a units-of-production basis as reserves are mined, with the resulting depletion charge allocated to inventory, and then to cost of sales as the inventory is sold. As a result of these and other differences, our financial statements will not be comparable to the financial statements of mining companies that have established reserves and have exited the exploration stage.

SECURITIES AND EXCHANGE COMMISSION COVID 19 ORDER 34-88465

The Company has relied on this order 34-88465 for this filing. We could not file this report by the prescribed date as a significant portion of the Company’s business operations arelocated in the Papua New Guinea (“PNG”) including certain of its key personnel responsible for assisting the Company in the preparation of its financial statements. As a result of the travel and work restrictions stemming from the COVID-19 pandemic, the Company was unable to obtain financial records that it needed from its PNG based operations to permit the Company to file a timely and accurate Annual Report on Form 10-K for its year ended September 30, 2020, by the prescribed date without undue hardship and expense to the Company.

FORWARD-LOOKING STATEMENTS

This Annual Report on Form 10-K contains forward-looking information. Forward-looking information includes statements relating to future actions, prospective products, future performance, or results of current or anticipated products, sales and marketing efforts, costs and expenses, interest rates, outcome of contingencies, financial condition, results of operations, liquidity, business strategies, cost savings, objectives of management of Kibush Capital Corporation (hereinafter referred to as the “Company,” “Kibush Capital,” or “we”) and other matters. Forward-looking information may be included in this Annual Report on Form 10-K or may be incorporated by reference from other documents filed with the Securities and Exchange Commission (the “SEC”) by the Company. One can find many of these statements by looking for words including, for example, “believes,” “expects,” “anticipates,” “estimates” or similar expressions in this Annual Report on Form 10-K or in documents incorporated by reference in this Annual Report on Form 10-K. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events.

The Company has based the forward-looking statements relating to the Company’s operations on management’s current expectations, estimates and projections about the Company and the industry in which it operates. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that we cannot predict. In particular, we have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. Accordingly, the Company’s actual results may differ materially from those contemplated by these forward-looking statements. Any differences could result from a variety of factors, including, but not limited to general economic and business conditions, competition, and other factors.

PART I.

ITEM 1.

BUSINESS.

Kibush Capital Corporation (“we”, “us”, “our”, the “Company” or the “Registrant”) is a mineral and natural resources exploration company. We are currently involved in mineral exploration and timber logging through our subsidiary Aqua Mining. Aqua Mining operates a timber logging and processing operation in Papua New Guinea and is also active in mineral exploration in Papua New Guinea where we are exploring for gold.

We are an exploration stage company as defined by the Security and Exchange Commission’s (“SEC”) Industry Guide 7 as the Company has no established reserves as required under the Industry Guide 7.

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History

We were incorporated in the State of Nevada on January 5, 2005, under the name Premier Platform Holding Company, Inc. The Company ~~changed~~ changed its name to Paolo Nevada Enterprises, Inc. on February 4, 2005. On August 18, 2006, the Company completed a merger with Premier Platform Holding Company, Inc., a Colorado corporation, where Paolo Nevada Enterprises, Inc. was the surviving entity. On November 1, 2006, the Company changed its name to the David Loren Corporation. On July 5, 2013, More Superannuation Fund, an Australian entity (“More”), obtained control of the Company from Beachwood Capital, LLC, a Nevada limited liability company. On August 23, 2013, the Company changed its name to Kibush Capital Corporation.

On May 26, 2014, we became an initial subscriber to Aqua Mining Limited, a Papua New Guinea limited company (“Aqua Mining”) resulting in a 49% interest, subsequently increasing to 90%. For the fiscal year ended September 30, 2018, Aqua Mining had revenues of $81,042, $118,424 in assets and $1,177,679 in liabilities, of which $1,090,938 are loans from Kibush Corp. For the fiscal year ended September 30, 2019, Aqua Mining had revenues of $178,768, $142,510 in assets and $1,372,442 in liabilities, of which $1,285,245 are loans from Kibush Corp.

The Company is an “emerging growth company” as defined in the Jumpstart Our Business Startups Act (“JOBS Act”).

Our auditors have issued a going concern opinion. This means that our auditors believe there is substantial doubt that we can continue as as an on-going business for the next twelve months unless we obtain additional capital to pay our bills. This is because we have not generated any significant revenues from our current business. In addition, we have sustained losses for the past two years and have a negative working capital at September 30, ~~2019~~2020. We must raise cash from sources other than operations. Our only other source for cash at this time is investments by others in our company. We must raise cash to continue our mining exploration activities and business development.

Our Business

Our business is comprised of timber logging and mining exploration through our subsidiary Aqua Mining. Our primary office is located at 7 Sarah Crescent, Templestowe, Victoria 3106, Australia. The Company is an exploration stage company and there is no assurance that a commercially viable mineral deposit exists on any of our properties. Further exploration will be required before a final evaluation as to the economic and legal feasibility is determined.

Aqua Mining

Logging:

The Company, through its subsidiary Aqua Mining, was successful in obtaining Government approval for the commercialization of timber ~~resources~~ resources at ~~Kubuna and Rigo~~Gaire, Papua New Guinea. The area that we have agreements with the landowners cover at ~~Kubuna~~Gaire 4050,000 hectares ~~and Rigo 25,000 hectares~~. We have commenced logging during the December quarter ~~2016~~2019, atthis ~~Rigo~~site ~~and~~is ~~expect to commence at Kubuna during 2019. Both sites are~~ excellent ~~resources~~in resource covering many species of wood, mainly hardwoods kwila and rosewood, there are a number of exotic wood types. It has taken us some time to establish the infrastructure at ~~Rigo~~Gaire, but we have now completed ~~the~~ the access road works and established a base camp for 38 on-site workers.

Market

Mining:

The primary product is Gold and our market price based on the London Metals Exchange Daily Rate. This rate determines a market price for all material sold within the Refinery Market. Outside of that market competition dictates the price available, and that competition has effectively no difference in the quality of the material as it based on a gold percentage. A higher price can be obtained by selling to the spot traders who can distribute the material at lower volumes to industry consumers.

Timber:

Initially, we are focusing on the domestic market in Papua New Guinea, where there are a number of major suppliers to the retail ~~market place~~marketplace. As As our capacity increases, we will look to export timber to the nearby Australian and Asian markets where demand is greater than supply.

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Marketing and Distribution:

As the principal material is gold, the options are to sell either to a refinery and be paid the daily spot rate, or to sell to the jewelry wholesale market. Both of these options exist internally within PNG however the wholesale market is quite small. There are several options when the material is exported from PNG, again it could be to any refinery within the region and that rate again would be the daily spot rate. The wholesale market outside the country would be significant and there are many opportunities within Australia to sell at a higher than spot rate to that market. There may also be parties that would take up the material on a contractual basis.

The timber products will be marketed and distributed from our Timber Yard at Laloki (30 minutes ~~North~~Northeast ~~East~~ from Port Moresby PNG). This facility is within easy reach of trade customers and gives quick access to our wholesale customers. In addition, it provides an opportunity for retail sales to be made direct to end consumers. We have developed marketing and distribution strategies based upon our experience working with the Paradise Gardens customer base over the last 12 months.

Competition

The mining industry is acutely competitive in all of its phases. We face strong competition from other mining companies in connection ~~with~~ with the acquisition of exploration stage properties or properties containing gold, jade and other mineral reserves. Many of these ~~companies~~ companies have greater financial resources, operational experience, and technical capabilities than us. It is our goal to find undervalued properties and team up with local joint venture partners to streamline our time to market and costs. In PNG ~~in particular~~ we are finding a number of such properties, as the enforcement of the Mining Act has forced traditional landowners to comply with the relevant requirements of the act. Their ability to do so is limited as they do not have the financial, or management resources to comply.

The logging industry is very competitive in Papua New Guinea. We believe that our policy of working with the landowners and providing ~~direct~~ direct employment to the local villagers appears to provide us with a competitive advantage of greater acceptance of our activities by government officials, local businesses, and local Papua New Guineans.

Raw Materials, Principal Suppliers and Customers

We are not dependent on any principal suppliers and our raw materials are produced principally through our own mining activities. Our principal customers for our mining activities are refineries based in PNG.

We are not dependent on any principal suppliers and our timber materials are produced principally through our logging activities. There are number of principal customers that we are focused on with the domestic market in PNG. We have established that customer base over the last 12 months and the company is now concentrating on formalizing supply agreements to those customers.

Intellectual Property

Intellectual property is not a large part of our current business model as we are selling non-unique materials through primarily conventional channels. One or more brands may yet be developed if we determine branding will benefit the Company.

Government Regulations

Our products and services are subject to foreign, federal, state, provincial and local laws and regulations concerning business activities in general, including the laws of Papua New Guinea and Australia. Our operations will be affected from time to time in varying ~~degrees~~ degrees by domestic and foreign political developments, foreign, federal, and state laws.

Aqua Mining

As the 90% owner of Aqua Mining [PNG] Limited, a Papua, New Guinea company, we are required to obtain approval from the Investment Promotion Authority of Papua New Guinea to be recognized as a foreign investor.

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Environmental Regulations:

Under our Alluvial Mining Lease, we must comply with the provisions of the Mining Act pertaining to Environmental requirements. We are subject to applicable environmental legislation including specific site conditions attached to the mining tenements imposed by the PNG Government Department of Environment and Conservation (“DEC”), the terms and conditions of operating licenses issued by the PNG Mineral Resources Authority (“MRA”) and DEC, and the environment permits for water extraction and waste discharge issued by DEC. In the fourth quarter of fiscal 2014, the PNG Parliament approved a name change for the Department of Environment and Conservation to the Conservation Environment Protection Authority and that change has become effective.

Under our Logging TA, we must comply with the provisions of the Forestry Act 1991 pertaining to Environmental requirements. We are subject to applicable environmental legislation including specific site conditions attached to the Logging TA imposed by the PNG Government Department of Environment and Conservation (“DEC”), the terms and conditions of operating licenses issued by the PNG Forest Authority (“FA”) and DEC, and the environment permits for water extraction and waste discharge issued by DEC. In the fourth quarter of fiscal 2014, the PNG Parliament approved a name change for the Department of Environment and Conservation to the Conservation Environment Protection Authority and that change has become effective.

Employees

As of ~~March~~August 1230th, ~~20120~~2021, the Company has 2829 full time employees.

ITEM 1A.

RISK FACTORS.

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information under this item.

ITEM 1B.

UNRESOLVED STAFF COMMENTS.

Not applicable to smaller reporting companies.

ITEM 2.

PROPERTIES.

~~The~~In ~~Company~~accordance ~~does~~with ASC 842 the company has not ~~lease~~entered into any ~~properties~~leases orthat ~~facilities.~~are greater the 12 months and therefore does not capitalize these leases in accordance with ASC 842.The Company utilizes office space from its Director Mr Warren Sheppard, the space is physically located at 7 Sarah Crescent Templestowe Victoria Australia. Management has determined that this arrangement is adequate for its current and immediate foreseeable operating needs.

ITEM 3.

LEGAL PROCEEDINGS.

We are not presently a party to any litigation.

PART II

ITEM 4.

MARKET PRICE FOR THE REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.

Market ~~Information~~Information1

Fiscal Year – 2020	High Bid		Low Bid
Fourth Quarter: 7/1/20 to 9/30/20		0.0034		0.0012
Third Quarter: 4/1/20 to 6/30/20		0.0038		0.0003
Second Quarter: 1/1/20 to 3/31/20		0.0019		0.0003
First Quarter: 10/1/19 to 12/31/19		0.0006		0.0003

Fiscal Year – 2019	High Bid		Low Bid
Fourth Quarter: 7/1/19 to 9/30/19		0.0006		0.0006
Third Quarter: 4/1/19 to 6/30/19		0.0007		0.0005
Second Quarter: 1/1/19 to 3/31/19		0.0015		0.001
First Quarter: 10/1/18 to 12/31/18		0.0029		0.0016

Fiscal Year – 2018	High Bid		Low Bid
Fourth Quarter: 7/1/18 to 9/30/18		0.0006		0.0006
Third Quarter: 4/1/18 to 6/30/18		0.0007		0.0005
Second Quarter: 1/1/18 to 3/31/18		0.0015		0.001
First Quarter: 10/1/17 to 12/31/17		0.0029		0.0016

Our shares of common stock are traded on the OTC Pink operated by the OTC Markets Group, Inc., under the symbol “DLCR”. The shares trading of our common stock began on August 1, 2013.

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Holders

As of ~~March~~August 1217, ~~2020~~2021, we had ~~202~~204 stockholders of record.

Dividends

We have not declared or paid any cash dividends on our common stock, and we do not anticipate paying any dividends in the foreseeable future. We expect to retain any future earnings to finance our business activities and any potential expansion. The payment of cash dividends in the future will depend upon our future revenues, earnings and capital requirements and other factors the Board considers relevant.

On ~~March~~August 1230, ~~2020~~2021, the closing bid price of our common stock on the OTC pink sheets quotation system was $0.~~0006~~0046 per share .

Warrants or Options

The Company does not have any warrants outstanding, and the Company has not yet adopted a stock option plan.

Securities Authorized for Issuance under Equity Compensation Plans

We do not have any equity compensation plans.

Repurchase of Securities

None.

Recent Sales of Unregistered Securities

On September 17, 2016, the Company issued a 9.00% Convertible Promissory Note due September 17, 2017 with a principal amount of $25,000 for cash. Interest on the 2016 Note is accrued annually effective from October 1, 2016 forward. The 2016 Note is unsecured and repayable on demand. The 2016 Note is senior in right to all existing and future indebtedness which is subordinated by its terms and at the option of the Lender, the principal along with any accrued interest may be converted in whole or part into Common Stock at a price of $0.001.

Each of the foregoing issuances was exempt from the registration requirements of the Securities Act of 1933, as amended pursuant to Section 4(2).

As of March 12, 2020, there are 293,024,533 shares of the Company’s common stock issued and outstanding.

Securities authorized for issuance under equity compensation plans

We have no equity compensation plans at the present time.

Section 15(g) of the Securities Exchange Act of 1934

Our company’s shares are covered by Section 15(g) of the Securities Exchange Act of 1934, as amended that imposes additional sales practice requirements on broker/dealers who sell such securities to persons other than established customers and accredited investors (generally institutions with assets in excess of $5,000,000 or individuals with net worth in excess of $1,000,000 or annual income exceeding $200,000 or $300,000 jointly with their spouses). For transactions covered by the Rule, the broker/dealer must make a special suitability determination for the purchase and have received the purchaser’s written agreement to the transaction prior to the sale. Consequently, the Rule may affect the ability of broker/dealers to sell our securities and also may affect your ability to sell your shares in the secondary market.

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Section 15(g) also imposes additional sales practice requirements on broker/dealers who sell penny securities. These rules require a one -page summary of certain essential items. The items include the risk of investing in penny stocks in both public offerings and secondary marketing; terms important to in understanding of the function of the penny stock market, such as “bid” and “offer” quotes, a dealers “spread” and broker/dealer compensation; the broker/dealer compensation, the broker/dealers duties to its customers, including the disclosures required by any other penny stock disclosure rules; the customers rights and remedies in causes of fraud in penny stock transactions; and, the FINRA’s toll free telephone number and the central number of the North American Administrators Association, for information on the disciplinary history of broker/dealers and their associated persons.

The application of the penny stock rules may affect your ability to resell your shares.

ITEM 5.

SELECTED FINANCIAL DATA.

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information under this item.

ITEM 6.

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

The following discussion and analysis ~~provides~~provide information that we believe is relevant to an assessment and understanding of our results of of operations and financial condition. You should read this analysis in conjunction with our audited consolidated financial statements ~~and~~ and related notes and our unaudited consolidated interim financial statements and their notes. This discussion and analysis ~~contains statements~~contain statements of a forward-looking nature relating to future events or our future financial performance. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The words “believe,” “expect,” “anticipate,” “intend” and “plan” and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. Such statements are only predictions, and actual events or results may differ materially.

We qualify as an “emerging growth company” under the JOBS Act. As a result, we are permitted to, and intend to, rely on exemptions from certain disclosure requirements. For so long as we are an emerging growth company, we will not be required to:

	●	have an auditor report on our internal controls over financial reporting pursuant to Section 404(b) of the Sarbanes-Oxley Act;

	●	comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor’s report providing additional information about the audit and the financial statements (i.e., an auditor discussion and analysis);

	●	submit certain executive compensation matters to shareholder advisory votes, such as “say-on-pay” and “say-on-frequency;” and

	●	disclose certain executive compensation related items such as the correlation between executive compensation and performance and comparisons of the CEO’s compensation to median employee compensation.

In addition, Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.

We will remain an “emerging growth company” for up to five years, or until the earliest of (i) the last day of the first fiscal year in which our total annual gross revenues exceed $1 billion, (ii) the date that we become a “large accelerated filer” as defined in Rule 12b-2 under the Securities Exchange Act of 1934, which would occur if the market value of our ordinary shares that is held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter or (iii) the date on which we have issued more than $1 billion in non-convertible debt during the preceding three year period.

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The following discussion of the financial condition and results of our operations should be read in conjunction with the financial ~~statements~~ statements and the related notes thereto included elsewhere in this Annual Report on Form 10-K for the year ended September 30, ~~2016~~ 2020 (this “Report”). This report contains certain forward-looking statements, and our future operating results could differ materially from those discussed herein. Certain statements including, without limitation, statements containing the words “believes”, “anticipates,” “expects” and the like, constitute “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such factors or to announce publicly the results of any revisions of the forward-looking statements contained or incorporated by reference herein to reflect future events or developments.

Plan of Operations

The Company’s current plan of operation is to continue and expand our logging operations and to refocus on mining activities after achieving sufficient cash flow from logging and timber sales.

The Company has spent considerable time and effort understanding and developing processes for our logging, processing, and sale of ~~finished~~ finished products. The Company is now ready to deliver to the ~~market~~marketplace ~~place~~ approximately ~~150~~2500 cubic meters of processed timber for sale to both the wholesale and retail markets. We anticipate that the average sales revenue for processed timber will be approximately $750.00 per cubic meter.

Within the next 4 months, the Company plans to (1) acquire and place additional processing equipment in our new Timber yard at Laloki, and (2) acquire additional logging equipment to be deployed as required in ~~Rigo~~Gaire ~~and Kubuna.~~ We have placed deposits on various processing equipment, but we may need to finance the balance of the processing equipment and the additional logging machinery. Once the additional logging and processing equipment is placed, we believe that our capacity will increase to approximately 750 cubic meters per month. Moreover, the new processing equipment will allow us to customize our products to specific customer requirements and offer additional value -added timber products, which should help the Company increase profit margins on its timber sales.

With current operations at ~~Rigo~~Gaire, we are optimistic that we can sell an average quantity of 750 cubic meters of timber per month by ~~March~~ September of ~~2019~~2021. To support this target, we plan to develop export markets for our finished timber products to avoid relying too heavily on sales to any one region, diversify our customer base and build a more stable sales market. In addition to ~~Rigo and Kubuna~~Gaire, we are investigating additional areas in PNG for potential timber operations to support our projected volume for the next 3 years.

Once we have sustainable excess profits from our logging activities, we plan to renew our mining exploration efforts.

Results of Operations

For the year ended September 30, ~~2019~~2020, and September 30, ~~2018~~2019

Revenues

The Company had $~~178~~150,~~768~~842 in revenue for the year ended September 30, ~~2019~~2020, and $81178,~~042~~768 for the year ended September 30, ~~2018~~2019. The ~~increase~~decrease in revenue of $9727,~~726~~926 is attributable to ~~the~~Covid ~~sale of timber.~~impact

Operating expenses

The Company had operating expenses of $~~499~~504,~~818~~048 for the year ended September 30, ~~2019~~2020, consisting of general and administrative expenses, as compared with operating expenses of $~~393~~499,~~910~~818 for the year ended September 30, ~~2018~~2019, consisting of general and administrative expenses. ~~The increase of $105,908 was attributable to the Company focusing primarily on its Logging Operations.~~

Net Profit/Loss

The Company had a net operating ~~loss~~profit of $~~528~~151,~~643~~252 for the year ended September 30, ~~2019~~2020, compared with a net operating ~~profit~~loss of $45528,~~589~~643 for the year ended September 30, ~~2018~~2019. The ~~decrease~~increase of $~~574~~679,~~232~~895 was primarily attributable to the ~~improved revenues from the logging operations and a~~ decrease in derivative financing expense.

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Operating Activities

Net cash used in operating activities was $~~162~~198,~~240~~474 for the year ended September 30, ~~2019~~2020, compared to net cash used in operating activities of $~~258~~162,~~716~~240 for the year ended September 30, ~~2018~~2019. ~~The decrease of $96,476 was a result improved revenue from the logging operations and an increase in expenditure.~~

Investing Activities

Net cash used in investing activities was ($~~23,453)~~0 for the year ended September 30, ~~2019~~2020, compared to ($323,~~153)~~453 for the year ended September 30, ~~2018~~ 2019. ~~This increase resulted from the acquisition of Plant and Equipment for the logging operations.~~

Financing Activities

Net cash provided by financing activities was $~~217~~201,~~749~~712 for the year ended September 30, ~~2019~~2020, compared to $~~288~~217,~~468~~749 for the year ended ~~September~~ September 30, ~~2018~~2019. ~~The decrease of $70,719 was mainly due to a decrease in the cost of derivative financing.~~

Liquidity and Capital Resources

As of September 30, ~~2019~~2020, the Company had total current assets of $1869,~~153~~730 and total current liabilities of $3,~~738~~245,~~873~~916 resulting in a working capital deficit of $3,~~720~~176,~~720~~186. As of September 30, ~~2018~~2019, the Company had total current assets of $718,~~935~~152 and total current ~~liabilities~~ liabilities of $3,~~167~~738,~~502~~873 resulting in a working capital deficit of $3,~~159~~720,~~567~~720. The decrease in working capital deficit arose mainly due to increase in loans owing to related parties, who provided advances to the Company for working capital purposes. The Company had cash as of September 30, ~~2019~~2020, of $21,~~224~~448. The Company intends to fund its exploration through the revenues from the logging activities and the sale of its equity securities. However, there can be no assurance that the Company will be successful doing so. We currently have no agreements, arrangements, or understandings with any person to obtain funds through bank loans, lines of credit or any other sources. We currently believe that the Company will need approximately $~~500~~750,000 over the next 12 months to implement our desired expansion of logging activities.

Going Concern

The Company is in the development stage and has insufficient revenues to cover its operating costs. As of September 30, ~~2019~~2020, the ~~Company~~ Company had an accumulated deficit of $13,~~728~~577,~~369~~116 and a working capital deficiency and insufficient cash resources to meet its planned business objectives. These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plan for our continued existence includes selling additional stock through private placements and borrowing additional funds to pay overhead expenses while maintaining marketing efforts to raise our sales volume. Our future success is dependent upon our ability to achieve profitable operations, generate cash from operating activities and obtain additional financing. There is no assurance that we will be able to generate sufficient cash from operations, sell additional shares of common stock or borrow additional funds. Our inability to obtain additional cash could have a material adverse effect on our financial position, results of operations and our ability to continue as a going concern.

We have only had operating losses which raise substantial doubts about our viability to continue our business and our auditors have issued an opinion expressing the uncertainty of our Company to continue as a going concern. If we are not able to continue operations, investors could lose their entire investment in our Company.

Contractual Obligations

The Company is not party to any contractual obligations other than indicated in Notes 5 and 6.

Off Balance Sheet Arrangements

We have no off-balance sheet arrangements other than as described above.

We have not entered into any other financial guarantees or other commitments to guarantee the payment obligations of any third parties. We have not entered into any derivative contracts that are indexed to our shares and classified as shareholder’s equity or that are not reflected in our consolidated financial statements. Furthermore, we do not have any retained or contingent interest in assets transferred to an unconsolidated entity that serves as credit, liquidity, or market risk support to such entity. We do not have any variable interest in any unconsolidated entity that provides financing, liquidity, market risk or credit support to us or engages in leasing, hedging or research and development services with us.

- 10 -

ITEM 6A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information under this item.

ITEM 7.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.

INDEX TO FINANCIAL STATEMENTS

	Index

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM	12
Balance Sheet	13
Statement of Stockholders’ Equity (Deficiency)	14
Statements of Operations	15
Statements of Cash Flows	16
Notes to Financial Statements	17

- 11 -

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

ToTO ~~the~~THE ~~Shareholders~~BOARD ~~and~~OF ~~the~~DIRECTORS ~~Board~~AND ofSHAREHOLDERS ~~Directors~~OF ofKIBUSH ~~Kibush~~CAPTAL ~~Capital Corporation~~CORPORATION

Opinion on the Financial Statements

We have audited the accompanying consolidated balance ~~sheet~~sheets of Kibush Capital Corporation and its ~~subsidiaries~~subsidiary (collectively, the “Company”) as of 30 September ~~30,~~2020 and 2019, and the related consolidated statements of operations, stockholders’ equity, and cash flows ~~for~~, for each of the ~~year~~two ~~then~~years in the period ended September 30, 2020, and the related notes and schedules (collectively referred to as the “ financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as at September 30, 2019 and 2020, and the results of its operations and its cash flows for each of the two years in the period ended September 30, 2020, in conformity with accounting principles generally accepted in the United States of America.

InGoing our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of September 30, 2019, and the results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America.Concern

~~Going~~The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company reported an accumulated deficit of $13,577,116 and $13,728,369 as of September 30, 2020 and September 30, 2019, respectively, due to the Company having not earned sufficient revenues to cover operating costs since inception and has a working capital deficit from significant short-term debt maturing in less than one year. All these factors raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also discussed in Note 1 to the financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company reported a net loss of $514,761, net current asset deficiency with its current liabilities exceeding its current assets by $3,708,202, accumulated deficit of $13,714,493 as of September 30, 2019 from recurring net losses and significant short term debt maturing in less than one year. All these factors raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also discussed in Note 1 to the financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s 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.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits , we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the 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 financial statements. We believe that our audits provide a reasonable basis for our opinion.


ShineWing Australia

Chartered Accountants

We have served as the Company’s auditor since 2017.

Melbourne, Australia

~~March~~August 1631, ~~2020~~2021

- 12 -

KIBUSH CAPITAL CORPORATION

CONSOLIDATED BALANCE SHEET

September 30,

	2019			2018
	2020			2019
ASSETS:
CURRENT ASSETS
Cash	$	21,~~224~~448		$	2,~~155~~224
Cash in Transit		-			-
Trade Debtors		1,244			15,929
Trade Debtors		15,929			5,780
Inventory – Raw Materials		-			-
Prepaid expenses		-			-
GST Receivable		67,041			52,106
TOTAL CURRENT ASSETS	$	1869,~~153~~733		$	770,~~935~~259
Property and equipment, net		~~126,121~~-			~~112~~126,~~612~~121
Investment in unconsolidated Joint Venture/Mining Rights		-			-
OTHER ASSETS		52,106			50,171
TOTAL ASSETS		69,733			196,380
TOTAL CURRENT ASSETS AND TOTAL ASSETS		196,380			170,718
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIENCY):
CURRENT LIABILITIES:
Accounts Payable		-			-
Accrued Expenses		~~960~~472,~~249~~785			~~611~~960,~~899~~249
Wages Payable		2,392			-2,392
Convertible notes payable		~~91,166~~-			91,166
Loans from Related Parties		12,~~956~~770,~~986~~739			1,~~737~~956,~~566~~986
Derivative Liabilities		~~728,080~~			~~726~~728,~~871~~080
TOTAL CURRENT LIABILITIES	$	3,~~738~~245,~~873~~916			3,~~167~~738,~~502~~873
STOCKHOLDERS’ EQUITY (DEFICIENCY)
Preferred stock, $0.001 par value; 50,000,000 shares authorized; Series A 3,000,000 shares issued and outstanding at September 30, 2019 and 2018, respectively	$	3,000		$	3,000
Preferred stock, $0.001 par value; 50,000,000 shares authorized; Series A 3,000,000 shares issued and outstanding at September 30, 2020 and 2019, respectively		3,000			3,000
Preferred stock, $0.001 par value; 50,000,000 shares authorized; Series B 20,000,000 shares issued and outstanding at September 30, 2019 and 2018, respectively		20,000			20,000
Preferred stock, $0.001 par value; 50,000,000 shares authorized; Series B 21,500,000 shares issued and outstanding at September 30, 2020 and 20,000,000 shares issued and outstanding at September 30, 2019, respectively		21,500			20,000
Common stock, $0.001 par value; 975,000,000 shares authorized at September 30, 2019 and $0.001 par value; 975,000,000 shares authorized at September 30, 2018, respectively		443,355			443,355
Common stock, $0.001 par value; 2,000,000,000 shares authorized at September 30, 2020 and $0.001 par value; 975,000,000 shares authorized at September 30, 2019, respectively		443,355			443,355
Additional paid-in capital		910,~~842~~092,~~517~~518			9,842,517
Accumulated Operating deficit		(13,~~728~~577,~~369~~116	)		(13,~~199~~728,~~727~~369	)
Total stockholders’ deficit	$	(3,~~419~~016,~~497~~743	)	$	(23,~~890~~419,~~855~~497	)
Non-Controlling interest	$	(~~122~~159,~~996~~440	)	$	(~~105~~122,~~929~~996	)
Total stockholders’ deficit, including non-controlling interest		(3,~~542~~176,~~493~~183	)		(23,~~996~~542,~~784~~493	)
Total liabilities and stockholders’ deficit		~~196~~69,~~380~~733			~~170~~196,~~718~~380

“See notes to financial statements”

- 13 -

KIBUSH CAPITAL CORPORATION

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY (DEFICIENCY)

For the years ended September 30, ~~2019~~2020, and ~~2018~~2019

Kibush Capital Corporation

Condensed Consolidated Statements of Stockholders’ Equity

For The Years Ended September 30, ~~2019~~2020

									Additional		Non				Accumulated Other		Total
	Common Stock				Preferred Stock				Additional Paid in		Non – controlling		Accumulated		Total Stockholders’
	Common Stock				Preferred Stock				Paid-in		Controlling		Accumulated		Comprehensive		Stockholders’
	Shares		Amount		Shares		Amount		Capital		interest		Deficit		Deficit
	Shares		Amount		Shares		Amount		Capital		Interest		Deficit		Income		Deficit
Balance at September 30, 2018		443,354,541		443,355		23,000,000		23,000		9,842,517		-105,929		-13,199,727		-2,996,784
Balance at September 30, 2017		3,959,541		3,960		23,000,000		23,000		9,467,573		-74,541		-13,245,316		-		-3,825,324
Exchange rate variation		-		-		-		-		-		-		1		1
Common stock issued for repayment of convertible note		439,395,000		439,395						-120,056								319,339
Net Income (Loss)		-		-		-		-		-		-17,067		-528,643		-545,710
Class B Preferred stock issued for repayment of back salary (29.11.16) adjustment										145,000								145,000
Balance at September 30, 2019		443,354,541		443,355		23,000,000		23,000		9,842,517		-122,996		-13,728,369		-3,542,493
Write back accruals										350,000								350,000
101 Series C Preferred Shares issued for repayment of back salary at $0.0001 per share		-		-		101		-		1		-		-		1
Exchange rate variation
Preference Share B Issued for Consideration at $0.0001 per share		-		-		14,999,899		1,500		-		-		-		1,500
Net Income (Loss)												-31,388		45,589				14,201
Issuance of Class B & C Pref Shares		-		-		-				250,000		-		-		250,000
Balance at September 30, 2018		443,354,541		443,355		23,000,000		23,000		9,842,517		-105,929		-13,199,727		-		-2,996,784
Exchange rate variation		-		-		-		-		-		-		-		-
Exchange rate variation														1				1
Net Income (Loss)		-		-		-		-		-		-36,445		151,252		114,808
Net Income (Loss)												-17,067		-528,643				-545,710
Balance at September 30, 2020		443,354,541		443,355		38,000,000		24,500		10,092,518		-159,441		-13,577,116		-3,176,184
Balance at September 30, 2019		443,354,541		443,355		23,000,000		23,000		9,842,517		-122,996		-13,728,369		-		-3,542,493

“See notes to financial statements”

- 14 -

KIBUSH CAPITAL CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

For the years ended September 30, 2020, and 2019

	2019			2018
	2020			2019
Net revenues	$	~~178~~150,~~768~~842		$	81178,~~042~~768
Cost of sales		(~~122~~123,~~899~~247	)		(~~163~~122,~~001~~899	)
Gross profit		5527,~~869~~595			~~(81~~55,~~959~~869	)
Operating expenses:
Research and development		-			-
General and administrative		~~499~~504,~~818~~048			~~393~~499,~~910~~818
Total operating expenses		~~499~~504,~~818~~048			~~393~~499,~~910~~818
Loss from operations		(~~443~~473,~~949~~453	)		(~~475~~443,~~869~~949	)
Other income (expense):
Interest income		-			-
Interest expense		(~~100~~145,~~552~~820	)		(~~116~~100,~~080~~552	)
Other income		-737,080			-
Change in fair value of derivative liabilities		~~(1,209~~-	)		~~606~~(1,~~150~~209	)
Total other expense, net		(101,761	)		490,070
Total other income/(expense) net		591,260			(101,761	)
Loss before provision for income taxes		~~(545~~114,~~710~~808	)		14(525,~~201~~710	)
Provision for income taxes		-			-
Net loss from Operations	$	(545,710	)	$	14,201
Net Profit / (Loss) from Operations		114,808			(545,710	)
Less: Loss attributable to non-controlling interest		1736,~~067~~445			3117,~~388~~067
Gain/Loss from discontinued operations		-			-
Less Net loss from discontinued operations		-			-
Net loss attributable to Holding Company		(528,643	)		45,589
Net Profit / (Loss) attributable to Holding Company		151,252			(528,643	)
Operating Basic and diluted loss per common share	$	(0.00	)	$	(0.00	)
Discontinued Operating basic and diluted loss per common share	$	(0.00	)	$	(0.00	)
Weighted average common shares outstanding basic and diluted		~~233~~240,~~177~~677,~~226~~271			233,177,~~226~~271

“See notes to financial statements”

- 15 -

KIBUSH CAPITAL CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the years ended September 30, 2020, and 2019

	2019			2018
	2020			2019
Operating Activities:
Net loss	$	(528,643	)	$	45,589
Net Profit / (Loss)	$	151,252			(528,643	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization		1321,~~082~~823			1613,~~618~~082
Amortization of debt discount		-			-
Non-cash impairment charge		127,820
Discontinued operations		-			-
Write back of Convertible Note		(9000	)
Gain/Loss from discontinued operations		-			-
Change in fair value of derivative instruments		(728,080	)		1,209
Change in fair value of derivative instruments		1,209			(606,150	)
Accounts receivable		-			(10,958	)
Stock based payments
Wages payable		-			2,392
Changes in operating assets and liabilities:
Accrued expenses		91,891			260,127
Prepaid expenses and other assets
Accrued interest		145,820			100,552
Others asset		-			-
Net cash used in operating activities		(198,474	)		(162,239	)
Inventory Raw Materials		-			-
Accounts receivable		(10,958	)		19,922
Wages payable		2,392			-
Accrued expenses		260,127			149,225
Accrued interest		100,552			116,080
Deposits		-			-
Net cash used in operating activities		(162,239	)		(258,716	)
Investing Activities:
Goodwill on Consolidation		-			-
Purchase of property and equipment		0			(23,453	)
Paradise Gardens		-			-
Net cash used in investing activities		0			(23,453	)
Purchase of property and equipment		(23,453	)		(3,153	)
Financing Activities: (a)
Net cash used in investing activities		(23,453	)		(3,153	)
Financing Activities:
Proceeds from issuance of convertible debt, net of debt discounts		-			-
Repayment of loan from related party		-			-
Proceeds from related party loans, net of debt discounts		~~217~~201,~~749~~712			~~288~~217,~~468~~749
Net cash provided by financing activities		~~217~~201,~~749~~712			~~288~~217,~~468~~749
Effective of exchange rates on cash		(314,~~988~~013	)		(3031,~~228~~988	)
Net change in cash		69(775	)		~~3,629~~69
Cash, beginning of year		2,~~155~~224			52,~~784~~155
Cash, end of year	$	21,~~224~~448		$	2,~~155~~224

~~“See notes~~(a) toNon ~~financial~~Cash ~~statements”~~Financing Activities - On January 9th, 2020, the Company issued Mr Sheppard 14,999,899 Class B Preference Shares and 101 Class C Preference Shares in full satisfaction of his unpaid 2015 and 2016 Salary of $250,000.

- 16 -

KIBUSH CAPITAL CORPORATION

NOTES TO FINANCIAL STATEMENTS

NOTE 1 - CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Business

Kibush Capital Corporation (formerly David Loren Corporation) (the “Company”) includes its 90% owned subsidiary Aqua Mining (PNG). See Basis of Presentation below. The Company has two primary businesses: (i) mining exploration within Aqua Mining, and (ii) timber operations in Papua New Guinea by Aqua Mining.

Basis of Presentation

The Company maintains its accounting records on an accrual basis in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”).

The consolidated financial statements of the Company include the accounts of the Company, and all entities in which a direct or indirect controlling interest exists through voting rights or qualifying variable interests. All intercompany balances and transactions have been eliminated in the consolidated financial statements.

Change in Fiscal Year End

The Board of Directors of the Company approved on September 14, 2014, a change in the Company’s fiscal year end from December 31 to September 30 of each year.

Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates ~~the~~ the realization of assets and the liquidation of liabilities in the normal course of business. As atof September 30, ~~2018~~2019, the Company ~~has~~ has an accumulated deficit of $13,~~199~~728,~~727~~369 and $13,~~728~~577,~~369~~116 as of September 30, ~~2019~~2020, and has not earned sufficient revenues to cover operating costs since inception and has a working capital deficit of $3,176,185 at September 30, 2020. The Company intends to fund its logging operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year.

To assist with company financing, Mr Sheppard has provided a letter of comfort to the company stating that he will not request repayment of the loan, for a period of not less than 12 months, from the date of signing the accounts.

The ability of the Company to emerge from the development stage is dependent upon, among other things, obtaining additional financing to continue mining exploration and execution of its business plan. In response to these problems, management intends to raise additional funds through public or private placement offerings.

These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Functional and Reporting Currency

The consolidated financial statements are presented in U.S. Dollars. The Company’s functional currency is the U.S. Dollar. The functional currency of Aqua Mining is the Papua New Guinean kina. Assets and liabilities are translated using the exchange rate on the respective balance sheet dates. Items in the income statement and cash flow statement are translated into U.S. Dollars using the average rates of exchange for the periods involved. The resulting translation adjustments are recorded as a separate component of other comprehensive income/(loss) within stockholders’ equity.

The functional currency of foreign entities is generally the local currency unless the primary economic environment requires the use of another currency. Gains or losses arising from the translation or settlement of foreign-currency-denominated monetary assets and liabilities into the functional currency are recognized in the income in the period in which they arise. However, currency differences on intercompany loans that have the nature of a permanent investment are accounted for as translation differences as a separate component of other comprehensive income/(loss) within stockholders’ equity.

- 17 -

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A summary of the principal accounting policies ~~are~~is set out below:

Cash

The Company maintains its cash balances in interest and ~~non-interest~~noninterest bearing accounts which do not exceed Federal Deposit Insurance ~~Corporation~~ Corporation limits.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of Kibush Capital and Aqua Mining. All intercompany accounts and transactions have been eliminated.

Other Comprehensive Income and Foreign Currency Translation

FASB ASC 220-10-05, Comprehensive Income, establishes standards for the reporting and display of comprehensive income and its components in a full set of general-purpose financial statements. Comprehensive income is defined to include all changes in equity except those resulting from investments by owners and distribution to owners.

The accompanying consolidated financial statements are presented in United States dollars.

Reclassifications

Reclassifications have been made to prior year consolidated financial statements in order to conform the presentation to the statements as of and for the period ended September 30, 2014.

On June 10, 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-10, Development Stage Entities (Topic 915) – Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) in its entirety from current accounting guidance. The Company has elected early adoption of this new standard.

Use of Estimates

The preparation of financial statements in conformity with Generally Accepted Accounting Principles in the United States of America (“GAAP”) requires management to make certain 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. Significant estimates made by management are, recoverability of long-lived assets, valuation and useful lives of intangible assets, valuation of derivative liabilities, and valuation of common stock, options, warrants and deferred tax assets. Actual results could differ from those estimates.

Non-Controlling Interests

Investments in associated companies over which the Company has the ability to exercise significant influence are accounted for under the consolidation method, after appropriate adjustments for intercompany profits and dividends.

In December 2007, the FASB issued SFAS No. 141(R), “Business Combinations.” It requires an acquirer to recognize, at the acquisition date, the assets acquired, the liabilities assumed, and any non-controlling interest in the acquiree at their full fair values as of that date. In a business combination achieved in stages (step acquisitions), the acquirer will be required to re-measure its previously held equity interest in the acquiree at its acquisition-date fair value and recognize the resulting gain or loss in earnings. The acquisition-related transaction and restructuring costs will no longer be included as part of the capitalized cost of the acquired entity but will be required to be accounted for separately in accordance with applicable generally accepted accounting principles. U.S. SFAS No. 141(R) applies prospectively to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2008.

A non-controlling interest in a subsidiary is an ownership interest in a consolidated entity that is reported as equity in the consolidated financial statements and separate from the Company’s equity. In addition, net income/(loss) attributable to non-controlling ~~interests~~ interests is reported separately from net income attributable to the Company in the consolidated financial statements. The Company’s ~~consolidated~~ consolidated statements present the full amount of assets, liabilities, income, and expenses of all of our consolidated subsidiaries, with a partially offsetting amount shown in non-controlling interests for the portion of these assets and liabilities that are not controlled by us.

- 18 -

For our investments in affiliated entities that are included in the consolidation, the excess cost over underlying fair value of net assets is referred to as goodwill and reported separately as “Goodwill” in our accompanying consolidated balance sheets. Goodwill may only arise where consideration has been paid.

Property and Equipment

Property and equipment is stated at cost. Depreciation is computed using the straight-line method over estimated useful lives as follows:

Plant equipment		2 to 15 years
Motor Vehicle		4 to 15 years

Maintenance and repairs are charged to expense as incurred. Renewals and improvements of a major nature are capitalized. At the time of retirement or other disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any resulting gains or losses are reflected in the consolidated statement of operations.

Impairment of Long-Lived Assets

In accordance with FASB ASC 360-10-5, Accounting for the Impairment or Disposal of Long-Lived Assets, the Company evaluates the carrying value of its long-lived assets for impairment whenever events or changes in circumstances indicate that such carrying values may not be recoverable. The Company uses its best judgment based on the current facts and circumstances relating to its business when determining whether any significant impairment factors exist. The Company considers the following factors or conditions, among others, that could indicate the need for an impairment review:

	●	Significant under performance relative to expected historical or projected future operating results;
	●	Significant changes in its strategic business objectives and utilization of the assets;
	●	Significant negative industry or economic trends, including legal factors;

If the Company determines that the carrying values of long-lived assets may not be recoverable based upon the existence of one or more of the above indicators of impairment, the Company’s management performs an undiscounted cash flow analysis to determine if impairment exists. If impairment exists, the Company measures the impairment based on the difference between the asset’s carrying amount and its fair value, and the impairment is charged to operations in the period in which the long-lived asset impairment is determined by management.

During the year ended September 30, 2020, the Aqua Mining business continued to generate material operating losses. Consequently, management has re-assessed the carrying value of the existing plant and equipment and its ability to generate positive cash flows over the remaining useful life of the group of assets used within the Timber milling business. Managements current assessment, which takes into consideration the ongoing uncertain impacts of COVID-19 on market supply chains and the access to equipment required for timber processing facility enhancements, indicates that the current group of assets are impaired and need to be written down to a carrying value indicative representative of fair value. Managements current assessment of the carrying value is nil as there is no reliable secondary market at present for these assets in the Port Moresby region combined with other market constraints relating to COVID-19 impacts on supply chains. Management will continue to explore opportunities to expand the supply and processing capacity of the timber milling process with a view to re-assessing the carrying value of the asset group should positive operating cash flows start to be generated in future periods.

The carrying value of the Company’s investment in Joint Venture contract with leaseholders of certain Mining Leases in Papua New Guinea represents its ownership, accounted for under the equity method. The ownership interest is not adjusted to fair value on a recurring basis. Each reporting period the Company assesses the fair value of the Company’s ownership interest in Joint Venture in accordance with FASB ASC 325-20-35. Each year the Company conducts an impairment analysis in accordance with the provisions within FASB ASC 320-10-35 paragraphs 25 through 32.

Fair Value of Financial Instruments

The carrying amounts of the Company’s cash, accounts payable and accrued expenses approximate their estimated fair values due to the short-term maturities of those financial instruments. The Company believes the carrying amount of its notes payable approximates its fair value based on rates and other terms currently available to the Company for similar debt instruments

Beneficial Conversion Features of Debentures

In accordance with FASB ASC 470-20, Accounting for Convertible Securities with Beneficial Conversion Features or Contingently Adjustable Conversion Ratios, we recognize the advantageous value of conversion rights attached to convertible debt. Such rights give the debt holder the ability to convert debt into common stock at a price per share that is less than the trading price to the public on the day the loan is made to us. The beneficial value is calculated as the intrinsic value (the market price of the stock at the commitment date in excess of the conversion rate) of the beneficial conversion feature of debentures and related accruing interest is recorded as a discount to the related debt and an addition to additional paid in capital. The discount is amortized over the remaining outstanding period of related debt using the interest method.

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Derivative Financial Instruments

We apply the provisions of FASB ASC 815-10, Derivatives and Hedging (“ASC 815-10”). Derivatives within the scope of ASC 815-10 must be recorded on the balance sheet at fair value. During the year ended September 30, 2014, the Company issued convertible debt and recorded derivative liabilities related to a reset provision associated with the embedded conversion feature of the convertible debt. The Company computed the fair value of these derivative liabilities on the grant date and various measurement dates using the Black-Scholes pricing model. Due to the reset provisions within the embedded conversion feature, the Company determined that the Black-Scholes pricing model was the most appropriate for valuing these instruments.

In applying the Black-Scholes valuation model, the Company used the following assumptions during the year ended September 30, ~~2019~~2020:

	For the year ended
	September 30, 2019
	September 30, 2020
Annual dividend yield		-
Expected life (years)		0.50 – 1.00
Risk-free interest rate		12.7050	%
Expected volatility		5541	%

The inputs used to measure fair value fall in different levels of the fair value hierarchy, a financial security’s hierarchy level is based upon the lowest level of input that is significant to the fair value measurement.

The Company determines the fair value of its derivative instruments using a three-level hierarchy for fair value measurements which these assets and liabilities must be grouped, based on significant levels of observable or unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. This hierarchy requires the use of observable market data when available. These two types of inputs have created the following fair-value hierarchy:

Level 1 — Valuation based on unadjusted quoted market prices in active markets for identical securities. Currently, the Company does not have any items as Level 1.

Level 2 — Valuations based on observable inputs (other than Level 1 prices), such as quoted prices for similar assets at the measurement date; quoted prices in markets that are not active; or other inputs that are observable, either directly or indirectly. Currently, the Company does not have any items classified as Level 2.

Level 3 — Valuations based on inputs that are unobservable and significant to the overall fair value measurement, and involve ~~management~~ management judgment. The Company used the Black-Scholes option pricing models to determine the fair value of the instruments.

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The following table presents the Company’s embedded conversion features of its convertible debt measured at fair value on a ~~recurring~~ recurring basis as of September 30, ~~2018~~2019, and as of September 30, ~~2019~~2020:

	Carry Value at		Carry Value at
	September 30, 2019		September 30, 2018
	September 30, 2020		September 30, 2019
Derivative liabilities:
Embedded conversion features - notes	$	~~728,080~~-	$	~~726~~728,~~871~~080
Total derivative liability	$	~~728,080~~-	$	~~726~~728,~~871~~080

	For the year ended	~~For the year ended~~	For the year ended	~~For the year ended~~
		September 30, 2019		September 30, 2018
	September 30, 2020		September 30, 2019
Change in fair value included in other income (expense), net		-~~1,209~~		~~606~~-1,~~150~~209

The following table provides a reconciliation of the beginning and ending balances for the Company’s derivative liabilities measured at fair value using Level 3 inputs:

	For the year ended		For the year ended
	September 30, 2019		September 30, ~~2018~~2019
Embedded Conversion
Features - Notes:
Balance at beginning of year	$	~~726~~728,~~871~~080	$	1726,~~333,021~~871
Change in derivative liabilities	$	2-728,~~418~~080	$	(12,~~212,300~~418	)
Net change in fair value included in net loss		-~~1,209~~		~~606~~-1,~~150~~209
Ending balance	$	~~728,080~~0	$	~~726~~728,~~871~~080

The Company re-measures the fair values of all its derivative liabilities as of each period end and records the net aggregate gain/loss ~~due~~ due to the change in the fair value of the derivative liabilities as a component of other expense, net in the accompanying consolidated ~~statement~~ statement of operations. During the years ended September 30, ~~2019~~2020, and ~~2018~~2019, the Company recorded a net increase (decrease) to the fair value of derivative liabilities balance of $0 ~~(1,209)~~ and -$ ~~606~~1,~~150~~209, respectively.

-21-

Debt Consolidation

On January 14, 2020, the Company entered into a Promissory Note Consolidation Agreement (the “Consolidation Agreement”) with one of its noteholders, Warren Sheppard., as lender (“Mr. Sheppard”). Pursuant to the terms of the Consolidation Agreement, the Company consolidated an aggregate of $1,358,692 of outstanding debt obligations (the “Outstanding Debt”), which included principal and interest, (as listed below ) owed to Mr. Sheppard by the Company.

As a consequence of the debt consolidation, the derivative Liabilities associated with option component has been extinguished, therefore, derivative liabilities amounted to $728,080 as of the debt consolidation date are subsequently reversed and charged into profit and losses in January 2020.

Promissory Note	Outstanding Principal		Outstanding Interest
David Loren Corporation. 2% Secured Promissory Note issued May 1, 2011 to Hoboken Street Associates, and as assigned to Warren Sheppard on July 3, 2013		22,166		3,780
David Loren Corporation. 2% Secured Promissory Note issued January 2, 2012 to Hoboken Street Associates, and as assigned to Warren Sheppard on July 3, 2013		48,000		7,438
David Loren Corporation. 2% Secured Promissory Note issued January 3, 2013 to Hoboken Street Associates, and as assigned to Warren Sheppard on July 3, 2013		12,000		1,618
Kibush Capital Corp. 12.5% Secured Promissory Note issued March 31, 2014 to Warren Sheppard.		157,500		104,815
Kibush Capital Corp. 12.5% Secured Promissory Note issued June 30, 2014 to Warren Sheppard.		110,741		70,384
Kibush Capital Corp. 12.5% Secured Promissory Note issued September 30, 2014 to Warren Sheppard.		98,575		59,670
Kibush Capital Corp. 12.5% Secured Promissory Note issued September 30, 2015 to Warren Sheppard.		316,046		153,387
Kibush Capital Corp. 12.5% Secured Promissory Note issued October 10, 2016 to Warren Sheppard.		155,300		37,272

Total:		920,328		438,364

Upon the assumption by the Company of the Outstanding Debt, the Company and Mr. Sheppard entered into an unsecured promissory note (the “Consolidated Note”), which such Consolidated Note restated the repayment terms and conditions of the Outstanding Debt in full. Pursuant to the terms and conditions of the Consolidated Note, the Outstanding Debt accrues simple interest at 12.5% per year, compounded annually, and the Consolidated Note has a maturity date of January 15, 2022. No regularly scheduled periodic payments of principal or interest are due under the Consolidated Note, and, unless there is an earlier event of default, all outstanding and unpaid principal and interest under the Consolidated Note is due and payable in a single lump sum payment at maturity. The Consolidated Note also removes any common stock conversion features from previous notes. The Company may prepay the Consolidated Note at any time prior to maturity without penalty.

On January 9th, 2020, the Company issued Mr Sheppard 14,999,899 Class B Preference Shares and 101 Class C Preference Shares in full satisfaction of his unpaid 2015 and 2016 Salary of $250,000.

Loss per Share

The Company applies FASB ASC 260, “Earnings per Share.” Basic earnings (loss) per share is computed by dividing earnings (loss) available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings (loss) per share is computed similar to basic earnings (loss) per share except that the denominator is increased to include additional common shares available upon exercise of stock options and warrants using the treasury stock method, except for periods for which no common share equivalents are included because their effect would be anti-dilutive.

Income Taxes

Income taxes are accounted for in accordance with ASC Topic 740, “Income Taxes.” Under the asset and liability method, deferred tax assets and liabilities are recognized for the future consequences of differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases (temporary differences). Deferred tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are recovered or settled. Valuation allowances for deferred tax assets are established when it is more likely than not that some portion or all of the deferred tax assets will not be realized.

Mineral Property, Mineral Rights (Claims) Payments and Exploration Costs

Pursuant to EITF 04-02, “Whether Mineral Rights are Tangible or Intangible Assets and Related Issues”, the Company has an accounting policy to capitalize the direct costs to acquire or lease mineral properties and mineral rights as tangible assets. The direct costs include the costs of signature (lease) bonuses, options to purchase or lease properties, and brokers’ and legal fees. If the acquired mineral rights relate to unproven properties, the Company does not amortize the capitalized mineral costs, but evaluates the capitalized mineral costs periodically for impairment. The Company expenses all costs related to the exploration of mineral claims in which it had secured exploration rights prior to establishment of proven and probable reserves.

- 21 22-

Accounting Treatment of Mining Interests

At this time, the Company does not directly own or directly lease mining properties. However, the Company does have contractual rights ~~and~~ and governmental permits which allow the Company to conduct mining exploration on the properties referenced in this report. These ~~contractual~~ contractual relationships, coupled with the government permits issued to the Company (or a subsidiary), are substantially similar in nature to a mining lease. Therefore, we have treated these contracts as lease agreements from an accounting ~~prospective~~perspective .

Research and Development

Research and development costs are recognized as an expense in the period in which they are incurred. The Company incurred no research and development costs for the years ended September 30, ~~2019~~2020, and ~~2018~~2019, respectively.

Recent Accounting Pronouncements

In ~~October~~November ~~2018~~2019, ~~FASB~~the ASB issued Accounting Standards Update ~~2018~~2019-~~16,~~08-Compensation-Stock ~~Derivaties~~Compensation (Topic 718) and ~~Hedging~~Revenue from Contracts with Customers (Topic ~~805~~606): ~~Inclusion~~Codification ofImprovements-Share-Based ~~the~~Consideration ~~Secured~~Payable ~~Overnight~~to a Customer. This ASU will affect companies ~~Financing~~that ~~Rate~~issue share-based payments (~~SOFR~~e.g., options or warrants) ~~Overight~~to ~~Index~~their ~~Swap~~customers. ~~(OIS)~~Similar ~~Rate~~to asissuing a ~~Benchmark~~cash ~~Interest~~rebate ~~Rate~~to ~~for~~a ~~Hedge~~customer, ~~Accounting~~issuing a ~~Purposes~~share-based payment to a customer can incentivize additional purchases. The ~~ASU~~share-based ~~amends~~payments can also serve a strategic purpose ~~ASC~~by ~~815~~aligning tothe ~~add~~interests of a supplier and its customer, because the ~~OIS~~customer’s ~~rate~~additional ~~based~~purchases onincrease its investment in the ~~SOFR~~supplier. asFor aentities ~~fifth~~that UShave ~~benchmark~~not ~~interest~~yet ~~rate~~adopted the amendments in Update 2018-07, the amendments in this update are effective in fiscal years beginning after December 15, 2019. We do not expect the adoption of this ASU to have a material effect on our consolidated financial statements.

In ~~October~~November ~~2018~~2019, the FASB issued Accounting Standards Update ~~2018~~2019-~~17:~~09-Financial ~~Consolidation~~Services-Insurance (Topic ~~810~~944):. ~~Targeted~~This ~~Improvements~~ASU towill ~~Related~~affect ~~Party~~companies ~~Guidance~~that ~~for~~issue ~~Variable~~share-based ~~Interest~~payments ~~Entities~~(e.g., ~~This~~options ~~standard~~or ~~expands~~warrants) ~~the~~to ~~application~~their ofcustomers. Similar to issuing a ~~specific~~cash ~~private~~rebate ~~company~~to ~~accounting~~a ~~alternative~~customer, issuing ~~related~~a share-based payment to ~~VIEs~~a ~~and~~customer ~~changes~~can ~~the~~incentivize ~~guidance~~additional ~~for~~purchases. ~~determining~~The ~~whether~~share-based payments can also serve a ~~decision-making~~strategic ~~fee~~purpose by isaligning the interests of a ~~variable~~supplier ~~interest~~and its customer, because the customer’s additional purchases increase its investment in the supplier. The amendments in this Update are effective in fiscal years beginning after December 15, 2021. We do not expect the adoption of this ASU to have a material effect on our consolidated financial statements.

In November ~~2018~~2019, the FASB issued Accounting Standards Update ~~2018~~2019-1810-Financial Instruments-Credit Losses (Topic 326), ~~Collaborative~~Derivatives ~~Arrangements~~and Hedging (Topic ~~808~~815), and Leases (Topic 842): ~~Clarifying~~Effective Dates. This ASU discusses the ~~Interaction~~FASB’s proposed ASU Codification Improvements to Hedge ~~between~~Accounting, which would clarify certain amendments made by ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities, to the guidance in ASC 815 on hedging activities. The FASB issued the proposal in response to feedback and questions received from stakeholders related to their implementation of ASU 2017-12. The ASU also discusses the recent issuance of FASB ASU No. 2019-10, Financial Instruments – Credit Losses (Topic ~~808~~326), Derivatives and Hedging (Topic ~~606~~815), and Leases (Topic 842): Effective Dates. The ASU provides a framework to stagger effective dates for future major accounting standards and amends ~~ASC~~the ~~808~~effective todates ~~clarify~~for ~~ASC~~certain ~~606~~major ~~should~~new ~~apply~~accounting instandards to ~~entirety~~give implementation relief to certain ~~transactions~~types ~~between~~of entities. Specifically, ASU 2019-10 changes some effective dates for ASU 2017-12 on ~~collaborative~~hedging, ~~arrangement~~ASU ~~participants~~2016-02 on leasing, ASU 2016-13 on current expected credit losses, and ASU 2017-04 on simplifying the goodwill impairment test. The amendments in this Update amend the mandatory effective dates Credit Losses for all entities as follows or fiscal years beginning after December 15, 2019. The effective dates for Hedging after applying this update are as follows: for fiscal years beginning after December 15, 2018. The effective dates for Leases after applying this Update are as follows for fiscal years beginning after December 15, 2018. We do not expect the adoption of this ASU to have a material effect on our consolidated financial statements.

In ~~November~~December ~~2018~~2019, the FASB issued Accounting Standards Update ~~2018~~2019-~~19,~~12-Income ~~Codification~~Taxes ~~Improvements~~(Topic to740): ~~Topic~~Simplifying ~~326,~~the ~~Financial~~Accounting ~~Instruments—Credit Losses.~~for ~~The~~Income Taxes. This ASU ~~changes~~summarizes the ~~effective~~FASB’s ~~date~~recently ofissued ~~ASU~~Accounting ~~2016-13~~Standards toUpdate ~~fiscal~~(ASU) ~~years~~No. ~~beginning~~2019-12, ~~after~~simplifying ~~December~~the ~~15,~~Accounting ~~2021,~~for ~~including interim~~Income ~~periods~~Taxes. ~~within~~The ~~those~~ASU ~~fiscal~~enhances ~~years.~~and ~~Thus,~~simplifies various aspects of the ~~effective~~income ~~date~~tax ~~for~~accounting ~~such~~guidance ~~entities’~~in ~~annual~~ASC ~~financial~~740. ~~statements~~The isamendments ~~now~~in ~~aligned~~this update ~~with~~are ~~that~~effective for ~~these~~fiscal years, and interim ~~financial~~periods ~~statements~~within those fiscal years, beginning after December 15, 2020. We ~~are~~do ~~currently~~not ~~evaluating~~expect the adoption ~~impact~~of ~~that~~this ~~the~~ASU ~~standard~~to ~~will~~ have a material effect on our consolidated financial statements ~~and related disclosures~~.

In ~~December~~January ~~2018~~2020, the FASB issued Accounting Standards Update ~~2018~~2020-~~20,~~01-Investments-Equity ~~Leases~~Securities (Topic ~~842~~321):, ~~Narrow~~Investments-~~Scope~~Equity ~~Improvements~~Method and ~~for~~Joint ~~Lessors.~~Ventures ~~The amendments~~(Topic ~~are~~323), ~~designed~~and toDerivatives ~~make~~and ~~lessors~~Hedging ~~adoption~~(Topic of815)-Clarifying the ~~new~~Interactions ~~leases~~between ~~standard~~Topic ~~easier~~321, ~~such~~Topic as323, and Topic 815. This ASU clarifies the interaction between accounting ~~policy~~standards ~~election~~related onto ~~sales tax,~~equity ~~exclude~~securities ~~variable~~(ASC ~~payments~~321), ~~for~~equity ~~all~~method ~~lessor~~investments (ASC ~~costs~~323), and ~~clarification~~certain onderivatives ~~lessor costs~~(ASC815). WeThe amendments in this Update are ~~currently~~effective ~~evaluating~~for ~~the~~fiscal ~~impact~~years beginning after December 15, ~~that~~2020. We do not expect the ~~standard~~adoption ~~will~~of this ASU to have a material effect on our consolidated financial statements ~~and related disclosures~~.

In March 2020, the FASB issued Accounting Standards Update 2020-03-Codification Improvements to Financial Instruments. The Standard is part of FASB’s ongoing project to improve and clarify its Accounting Standards Codification and avoid unintended application. The items addressed are not expected to significantly affect current practice or create a significant administrative cost for most entities. The amendment is divided into issues 1 to 7 with different effective dates as follows: The amendments related to Issue 1, Issue 2, Issue 4, and Issue 5 are conforming amendments. For public business entities, the amendments are effective upon issuance of this update. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years beginning after December 15, 2020. The amendment related to Issue 3 is a conforming amendment that affects the guidance related to the amendments in 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The effective date of this update for the amendments to Update 2016-01 is for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For entities that have not yet adopted the amendments related to Update 2016-13, the effective dates and the transition requirements for these amendments are the same as the effective date and transition requirements in Update 2016-13. For entities that have adopted the guidance in Update 2016-13, the amendments are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For those entities, the amendments should be applied on a modified-retrospective basis by means of a cumulative-effect adjustment to opening retained earnings in the statement of financial position as of the date that an entity adopted the amendments in Update 2016-13. We do not expect the adoption of this ASU to have a material effect on our consolidated financial statements.

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In June 2020, the FASB issued Accounting Standards Update 2020-05—Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities. The amendments in this Update are effective upon issuance.

In August 2020, the FASB issued Accounting Standards Update 2020-06—Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The amendments in this Update are effective for public business entities that meet the definition of a Securities and Exchange Commission (SEC) filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Board specified that an entity should adopt the guidance as of the beginning of its annual fiscal year. An entity that has not yet adopted the amendments in Accounting Standards Update No. 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480), Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, and (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception, can early adopt the amendments in this Update for convertible instruments that include a down round feature. This early adoption is permitted for fiscal years beginning after December 15, 2019.

In October 2020, the FASB issued Accounting Standards Update 2020-08—Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs. For public business entities, the amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early application is not permitted. All entities should apply the amendments in this Update on a prospective basis as of the beginning of the period of adoption for existing or newly purchased callable debt securities. These amendments do not change the effective dates for Update 2017-08. We do not expect the adoption of this ASU to have a material effect on our consolidated financial statements.

In October 2020, the FASB issued Accounting Standards Update 2020-10—Codification Improvements. The amendments in Sections B and C of this Update are effective for annual periods beginning after December 15, 2020, for public business entities. For all other entities, the amendments are effective for annual periods beginning after December 15, 2021, and interim periods within annual periods beginning after December 15, 2022. We do not expect the adoption of this ASU to have a material effect on our consolidated financial statements.

In January 2021, the FASB issued Accounting Standards Update 2021-01—Reference Rate Reform (Topic 848): Scope. The amendments in this Update are effective immediately for all entities. We do not expect the adoption of this ASU to have a material effect on our consolidated financial statements.

In March 2021, the FASB issued Accounting Standards Update 2021-03—Intangibles—Goodwill and Other (Topic 350): Accounting Alternative for Evaluating Triggering Events. The amendments in this Update are effective on a prospective basis for fiscal years beginning after December 15, 2019. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance as of March 30, 2021. An entity should not retroactively adopt the amendments in this Update for interim financial statements already issued in the year of adoption. The amendments in this Update also include an unconditional one-time option for entities to adopt the alternative prospectively after its effective date without assessing preferability under Topic 250, Accounting Changes and Error Corrections. We do not expect the adoption of this ASU to have a material effect on our consolidated financial statements.

Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on our consolidated financial statements upon adoption.

GST Receivable

The company was subject to a Goods and Services Tax Audit in Papua New Guinea during the financial year, the amounts claimed were confirmed and we are awaiting refunds to the amount as shown in the Balance Sheet as Other Assets in due course. In the meantime we are offsetting Goods and Services Tax charged on sales against this amount.

NOTE 3 – INVESTMENTS IN SUBSIDIARIES

The Company owns interests in the following entities which was recorded at their book value since they were related party common control acquisitions.

		Investment				Ownership %
Aqua Mining (PNG)			34				90	%

As Aqua Mining (PNG) Ltd was acquired from a related entity, Five Arrows Limited (see Note 10 – Business Combinations), the shares were recorded in the accounts at their true cost value.

- 22 24-

NOTE 4 – PROPERTY AND EQUIPMENT

	September 30, 2019		September 30, 2018
	September 30, 2020		September 30, 2019
Plant Equipment		89113,~~322~~515		6589,~~869~~322
Motor Vehicle		111,585		111,585
		200,907		177,454
		225,100		200,907
Less accumulated depreciation		-7497,~~786~~280		-6474,~~842~~786
	$	126,121	$	112,612
Less Provision for Impairment		-127,820		-
—	$	0	$	126,121

Depreciation expense was approximately $1321,~~082~~823 for the year ended September 30, ~~2019~~2020 and $1613,~~618~~082 for the year ended September 30, ~~2018~~2019.

NOTE 5 – CONVERTIBLE NOTES PAYABLE

	September 30, 2019
		September 30, 2020
	~~Note Face Amount~~	Note Face Amount	~~Debt Discount~~	Debt Discount	~~Net Amount of Note~~	Net Amount of Note
2011 Note	$	~~22,166~~-	$	-	$	~~22,166~~-
2012 Note		~~48,000~~-		-		~~48,000~~-
2013 Note		~~12,000~~-		-		~~12,000~~-
2014 Note		~~9,000~~-		-		~~9,000~~-
2016 Note		-		-		-
Total	$	-	$	-	$	-
2016 Note		-		-		-
2017 Note		-		-		-
Total	$	91,166	$	-	$	91,166

	September 30, 2018
	September 30, 2019
	Note Face Amount		Debt Discount		Net Amount of Note
2011 Note	$	22,166	$	-	$	22,166
2012 Note		48,000		-		48,000
2013 Note		12,000		-		12,000
2014 Note		9,000		-		9,000
2016 Note		-		-		-
2016 Note		-		-		-
2017 Note		-		-		-
Total	$	91,166	$	-	$	91,166

~~2011~~The company decided to write back the balance of the 2014 Note payable to Firehole Capital Ltd as the company was de-registered during the financial year.

On May 1, 2011, the Company issued a 2.00% Convertible Note due April 30, 2012 with a principal amount of $32,000 (the “2011 Note”) for cash. Interest on the 2011 Note is accrued annually effective from May 1, 2011 forward. The 2011 Note is unsecured and repayable on demand. The 2011 Note is senior in right to all existing and future indebtedness which is subordinated by its terms and at the option of the Lender, the principal along with any accrued interest may be converted in whole or part into Common Stock at a price of $0.001.-25-

As this note carries a conversion rate that is less than market rate, the rules of beneficial conversion apply. The difference between the conversion rate and the market rate is classified as a discount on the note and accreted over the term of the note, which with respect to this note is 12 months. The face amount of the outstanding note as of September 30, 2019, is $22,166. As of September 30, 2019, the note has been discounted by $0.

2012 Note

On January 2, 2012, the Company issued a 2.00% Convertible Note due January 1, 2013 with a principal amount of $48,000 (the “2012 Note”) for cash. Interest on the 2012 Note is accrued annually effective from January 2, 2012 forward. The 2012 Note is unsecured and repayable on demand. The 2012 Note is senior in right to all existing and future indebtedness which is subordinated by its terms and at the option of the Lender, the principal along with any accrued interest may be converted in whole or part into Common Stock at a price of $0.001.

As this note carries a conversion rate that is less than market rate, the rules of beneficial conversion apply. The difference between the conversion rate and the market rate is classified as a discount on the note and accreted over the term of the note, which with respect to this note is 12 months. The face amount of the outstanding note as of September 30, 2019, is $48,000. As of September 30, 2019, the note has been discounted by $0.

- 23 -

2013 Note

On January 3, 2013, the Company issued a 2.00% Convertible Note due January 2, 2014 with a principal amount of $12,000 (the “2013 Note”) for cash. Interest on the 2013 Note is accrued annually effective from January 3, 2013 forward. The 2013 Note is unsecured and repayable on demand. The 2013 Note is senior in right to all existing and future indebtedness which is subordinated by its terms and at the option of the Lender, the principal along with any accrued interest may be converted in whole or part into Common Stock at a price of $0.001.

As this note carries a conversion rate that is less than market rate, the rules of beneficial conversion apply. The difference between the conversion rate and the market rate is classified as a discount on the note and accreted over the term of the note, which with respect to this note is 12 months. The face amount of the outstanding note as of September 30, 2019, is $12,000. As of September 30, 2019, the note has been discounted by $0.

2014 Note

On August 25, 2014, the Company issued two 12.00% Convertible Promissory Note due February 25, 2015 with a principal amount of $50,000 each (the “2014 Note”) for cash. Interest on the 2014 Note is accrued annually effective from August 25, 2014 forward. The 2014 Note is unsecured.

The notes are convertible at a conversion price the lesser of (a) $0.25 per share, or (b) the price per share as reported on the Over-the-Counter Bulletin Board on the conversion date. The Note Holders also received Warrants to purchase an aggregate of 800,000 shares of our common stock at an initial exercise price of $0.25 per share. Each of the Warrants has a term of five (5) years.

The embedded conversion feature of the 2014 Notes and Warrants were recorded as derivative liabilities in accordance with relevant accounting guidance due to the variable conversion price of the 2014 Notes. The fair value on the grant date of the embedded conversion feature of the convertible debt was $145,362 as computed using the Black-Scholes option pricing model.

The Company established a debt discount of $100,000, representing the value of the embedded conversion feature inherent in the convertible debt and warrant, as limited to the face amount of the debt. The debt discount is being amortized over the life of the debt using the straight-line method over the terms of the debt, which approximates the effective-interest method. For the year ended September 30, 2014, the Company recorded amortization of the debt discount of $19,566. The balance of the debt discount was $80,434 at September 30, 2014. For the year ended September 30, 2019, the Company recorded amortization of the debt discount of $0. The balance of the debt discount was $0 at September 30, 2019. The face amount of the outstanding note as of September 30, 2019, is $9,000.

2016 Notes

On January 5, 2016, the Company issued a $47,615 Convertible Promissory Note to the McGee Law Firm for services rendered. The Note was due on October 31, 2016 and carried interest at 12.0% per annum. On or after May 1, 2016, at the option of the holder, the then outstanding amount of the Note was convertible into common stock of the Company at a conversion price equal to the lesser of $0.01 per share or 50% of the three lowest closing prices average for the 10 business days prior to the conversion date.

On August 11, 2016, the Company restructured a portion a Convertible Promissory Note issued on January 5, 2016 in conjunction with an assignment of that Note. The restructured Note was a 9.00% Convertible Promissory Note due August 11, 2017 with a principal amount of $30,000. Interest on the 2016 Note is accrued annually effective from September 1, 2016 forward. This Note was unsecured and repayable on demand. The 2016 Note is senior in right to all existing and future indebtedness which is subordinated by its terms and at the option of the Lender, the principal along with any accrued interest may be converted in whole or part into Common Stock at a price of $0.001. The face amount of the outstanding note as of September 30, 2019, is $0. As of September 30, 2019, the note has been discounted by $0.

- 24 -

On September 13, 2016, the Company restructured a portion a Convertible Promissory Note issued on January 5, 2016 in conjunction with an assignment of that Note. The restructured Note was a 9.00% Convertible Promissory Note due September 13, 2017 with a principal amount of $15,836.32. Interest on the 2016 Note is accrued annually effective from October 1, 2016 forward. The 2016 Note is unsecured and repayable on demand. The 2016 Note is senior in right to all existing and future indebtedness which is subordinated by its terms and at the option of the Lender, the principal along with any accrued interest may be converted in whole or part into Common Stock at a price of $0.001.

As this note carries a conversion rate that is less than market rate, the rules of beneficial conversion apply. The difference between the conversion rate and the market rate is classified as a discount on the note and accreted over the term of the note, which with respect to this note is 12 months. The face amount of the outstanding note as of September 30, 2019, is $0. As of September 30, 2019, the note has been discounted by $0.

On August 23, 2016, the Company issued a 9.00% Convertible Promissory Note due August 23, 2017 with a principal amount of $25,000 for cash. Interest on the 2016 Note is accrued annually effective from October 1, 2016 forward. The 2016 Note is unsecured and repayable on demand. The 2016 Note is senior in right to all existing and future indebtedness which is subordinated by its terms and at the option of the Lender, the principal along with any accrued interest may be converted in whole or part into Common Stock at a price of $0.001.

As this note carries a conversion rate that is less than market rate, the rules of beneficial conversion apply. The difference between the conversion rate and the market rate is classified as a discount on the note and accreted over the term of the note, which with respect to this note is 12 months. The face amount of the outstanding note as of September 30, 2019, is $0. As of September 30, 2019, the note has been discounted by $0.

2017 Notes

On October 28, 2016, the Company restructured a portion a Convertible Promissory Note issued on August 25, 2014 in conjunction with an assignment of that Note. The restructured Note was a 9.00% Convertible Promissory Note due October 28, 2017 with a principal amount of $35,000. Interest on the 2016 Note is accrued annually effective from November 1, 2016 forward. The 2017 Note is unsecured and repayable on demand. The 2017 Note is senior in right to all existing and future indebtedness which is subordinated by its terms and at the option of the Lender, the principal along with any accrued interest may be converted in whole or part into Common Stock at a price of $0.001.

As this note carries a conversion rate that is less than market rate, the rules of beneficial conversion apply. The difference between the conversion rate and the market rate is classified as a discount on the note and accreted over the term of the note, which with respect to this note is 12 months. The face amount of the outstanding note as of September 30, 2019, is $0. As of September 30, 2019, the note has been discounted by $0.

- 25 -

NOTE 6 – LOAN FROM RELATED PARTY

Convertible Notes Issued to the President and Director of Kibush Capital Corporation:

	September 30, 2018
	Note face amount		Debt Discount		Net Amount of note
Loan from related party	$	1,737,566	$	0	$	1,737,566
Total	$	1,737,566	$	0	$	1,737,566

	September 30, 2019
	Note face amount		Debt Discount		Net Amount of note

Loan from related party	$	1,956,986	$	0	$	1,956,986

Total	$	1,956,986	$	0	$	1,956,986

On March 31, 2014, the Company issued a 12.50% Convertible Promissory Note due March 31, 2015 with a principal amount of $157,500 (the “March 2014 Note”) for cash. Interest on the March 2014 Note is accrued annually effective from March 31, 2014 forward. The March 2014 Note is unsecured. The note is convertible into common stock at a price of 50 percent of the average closing bid price, determined on the then current trading market for the ten business days prior to the conversion date.

	September 30, 2020
	Note face amount		Debt Discount		Net Amount of note

Loan from related party	$	2,770,739	$	0	$	2,770,739

Total	$	2,770,739	$	0	$	2,770,739

~~The~~On ~~embedded~~January ~~conversion~~16, ~~feature~~2020, of the ~~March~~Company ~~2014~~entered ~~Notes~~into ~~was~~a ~~recorded~~Promissory asNote ~~derivative~~Consolidation ~~liabilities~~Agreement in(the ~~accordance~~“Consolidation ~~with~~Agreement”) ~~relevant accounting~~with ~~guidance~~one ~~due~~of toits ~~the~~noteholders, ~~variable~~Warren ~~conversion~~Sheppard., ~~price~~as oflender ~~the~~(“Mr. ~~March 2014 Notes~~Sheppard”). ~~The~~Pursuant ~~fair~~to ~~value on~~ the ~~grant~~terms ~~date~~ of the ~~embedded~~Consolidation ~~conversion~~Agreement, ~~feature~~the ofCompany ~~the~~consolidated ~~convertible~~an ~~debt~~aggregate ~~was~~of $~~305~~1,~~039~~358,692 asof ~~computed~~outstanding ~~using~~debt obligations (the ~~Black-Scholes~~“Outstanding ~~option~~Debt”), ~~pricing~~which ~~model.~~included principal ~~The~~and ~~fair value was $165~~interest,~~819 for~~ ~~the~~owed ~~year~~to ~~ended~~Mr. ~~September~~Sheppard ~~30,~~by ~~2019~~the Company.

~~The~~Upon ~~Company~~the ~~established~~assumption aby ~~debt~~the ~~discount~~Company of ~~$157,500,~~the ~~representing~~Outstanding Debt, the ~~value~~Company ofand ~~the~~Mr. ~~embedded~~Sheppard ~~conversion~~entered ~~feature~~into ~~inherent~~an inunsecured promissory note (the ~~convertible~~“Consolidated ~~debt~~Note”), aswhich ~~limited~~such toConsolidated Note restated the ~~face~~repayment ~~amount~~terms and conditions of the ~~debt.~~Outstanding ~~The~~Debt ~~debt~~in ~~discount~~full. isPursuant ~~being~~to ~~amortized over~~ the terms ~~life~~and conditions of the ~~debt~~Consolidated ~~using~~Note, the ~~straight-line method~~Outstanding ~~over~~Debt ~~the~~accrues ~~terms~~simple ofinterest ~~the~~at ~~debt~~12.5% per year, ~~which~~compounded ~~approximates~~annually, and the ~~effective-interest~~Consolidated ~~method.~~Note ~~For~~has ~~the~~a ~~year~~maturity ~~ended~~date ~~September~~of ~~30,~~January ~~2014~~15, ~~the Company~~2022. ~~recorded~~No ~~amortization~~regularly scheduled periodic payments of principal or interest are due under the ~~debt~~Consolidated ~~discount~~Note, and, unless there is an earlier event of ~~$78~~default,~~966.~~ ~~The~~all ~~balance~~outstanding ofand unpaid principal and interest under the ~~debt~~Consolidated ~~discount~~Note ~~was~~is ~~$78,534~~due atand ~~September~~payable ~~30,~~in ~~2014~~a single lump sum payment at maturity. The Consolidated Note also removes any common Asstock ofconversion ~~September~~features ~~30,~~from ~~2019,~~previous ~~the~~notes. ~~balance~~The ofCompany may prepay the ~~debt~~Consolidated ~~discount~~Note ~~was~~at $0any time prior to maturity without penalty.

OnAs ~~June 30, 2014, the Company issued~~ a ~~12.50%~~consequence ~~Convertible Promissory Note due June 30, 2015 with a principal amount~~ of ~~$110,741 (~~the ~~“June~~ ~~2014~~debt ~~Note”)~~consolidation, ~~for cash. Interest on~~ the ~~June~~derivative ~~2014~~Liabilities ~~Note~~associated iswith ~~accrued~~option ~~annually~~component ~~effective~~has ~~from~~been ~~June 30~~eliminated, ~~2014 forward.~~therefore, ~~The~~derivative ~~June~~liabilities ~~2014~~amounted ~~Note~~to is$728,080 ~~unsecured.~~as ~~The note is convertible into common stock at a price~~ of ~~50 percent of~~ the ~~average~~debt ~~closing~~consolidation ~~bid price,~~date ~~determined~~are onsubsequently ~~the~~reversed ~~then~~and ~~current~~charged ~~trading~~into ~~market~~profit ~~for~~and ~~the~~losses in ~~ten~~January ~~business days prior to the conversion date~~2020.

~~The~~As ~~embedded~~at ~~conversion~~September ~~feature~~30,2020 of the ~~June~~Related ~~2014~~Party ~~Note~~Loans ~~was recorded as derivative liabilities in accordance with relevant accounting guidance due to the variable conversion price~~ of ~~the~~$2,770,739 ~~June~~comprises ~~2014~~Consolidation Note. ~~The fair value on the grant date of the embedded conversion feature of the convertible debt was~~ $~~213~~1,~~207~~358,692 asand ~~computed~~an ~~using~~unsecured ~~the~~loan ~~Black-Scholes~~of ~~option pricing model. The fair value was~~ $~~116~~1,~~591 for the year ended September 30~~412, ~~2019~~046.

~~The~~Mr ~~Company~~Sheppard ~~established~~has provided a ~~debt~~letter ~~discount~~ of ~~$110,741~~comfort ~~representing the value of the embedded conversion feature inherent in the convertible debt, as limited~~ to the ~~face~~company ~~amount~~stating ofthat ~~the~~he ~~debt.~~will ~~The~~not ~~debt~~request ~~discount~~repayment ~~is being amortized over the life~~ of the ~~debt~~loan, ~~using~~for ~~the~~a ~~straight-line method~~period ~~over the terms~~ of ~~the debt, which approximates the effective-interest method. For the year ended September 30, 2014, the~~not ~~Company~~less ~~recorded~~than ~~amortization~~12 ~~of the debt discount of $27~~months,~~913.~~ ~~The~~from ~~balance of~~ the ~~debt~~date ~~discount was $82,828 at September 30, 2014. As~~ of ~~September~~signing ~~30, 2019,~~ the ~~balance of the debt discount was $0~~accounts.

On September 30, 2014, the Company issued a 12.50% Convertible Promissory Note due September 30, 2015 with a principal amount of $98,575 (the “September 2014 Note”) for cash. Interest on the September 2014 Note is accrued annually effective from September 30, 2014 forward. The September 2014 Note is unsecured. The note is convertible into common stock at a price of 50 percent of the average closing bid price, determined on the then current trading market for the ten business days prior to the conversion date.

The embedded conversion feature of the September 2014 Notes was recorded as derivative liabilities in accordance with relevant accounting guidance due to the variable conversion price of the September 2014 Note. The fair value on the grant date of the embedded conversion feature of the convertible debt was $181,771 as computed using the Black-Scholes option pricing model. The fair value was $103,782 for the year ended September 30, 2019.

- 26 -

The Company established a debt discount of $98,575 representing the value of the embedded conversion feature inherent in the convertible debt, as limited to the face amount of the debt. The debt discount is being amortized over the life of the debt using the straight-line method over the terms of the debt, which approximates the effective-interest method. For the year ended September 30, 2014, the Company recorded amortization of the debt discount of $0. The balance of the debt discount was $98,575 at September 30, 2014. As of September 30, 2019, the balance of the debt discount was $0.

As of September 30, 2014, and 2013, cumulative interest of $96,579 and $0 respectively, has been accrued on these notes.

The Company established a debt discount of $61,273 representing the value of the embedded conversion feature inherent in the convertible debt, as limited to the face amount of the debt. The debt discount is being amortized over the life of the debt using the straight-line method over the terms of the debt, which approximates the effective-interest method. For the year ended September 30, 2019, the Company recorded amortization of the debt discount of $0. The balance of the debt discount was $0 at September 30, 2019.

On October 1, 2016, the Company issued an 8% Promissory Note due September 30, 2017 with a principal amount of $155,300 (the “October 2016 Note”) for cash received over the period between September 30, 2014 and April 28,2015. No interest was to accrue on the first two years of the loan, interest on the October 2016 Note is to be accrued annually effective from October 1, 2016 forward. The October 2016 Note is unsecured. Cavenagh Capital Corporation is a shareholder in Kibush Capital Corporation.

NOTE 7 – STOCKHOLDER’S DEFICIT

Common Stock

On August 22, 2013, the Company’s Board authorized a 225:1 reverse stock split. All share and per share data in the accompanying financial statements and footnotes has been adjusted retrospectively for the effects of the stock split.

On October 12, 2013, the Company issued by director’s resolution, 10,000,000 shares of newly issued common stock for the purchase of a Memorandum of Understanding (dated September 2, 2013) from a related company (Five Arrows Limited); which gave Kibush Capital ~~Corporation~~ Corporation the right to acquire 80% ownership in Instacash Pty Ltd, an Australian Currency Services provider, and corporate trustee of the Instacash Trust. As this transaction was with a related party, the value was recorded at the par value of the stock i.e. , $0.001 per share of common stock.

Between October 23, 2013, and September 30, 2014, the Company issued a total of 3,274,000 shares of common stock upon the requests from ~~convertible~~ convertible note holders to convert principal totaling $3,274 into the Company’s common stock based on the terms set forth in the loans. The conversion rate was $0.001.

On February 28, 2014, the Company issued by director’s resolution, 40,000,000 shares of newly issued common stock to conclude a Assignment and Bill of Sale (dated February 14, 2014) from a related company (Five Arrows Limited); which gave Kibush Capital Corporation the right to enter into a Joint Venture contract with the leaseholders of certain Mining Leases in Papua New Guinea. As this transaction was with a related party, the value was recorded at par value of the stock i.e., $0.001 per share of common stock.

Between November 1, 2014 and March 31, 2015, the Company issued a total of 4,560,000 shares of common stock upon the requests from convertible note holders to convert principal totaling $3,274 into the Company’s common stock based on the terms set forth in the loans. The conversion rate was $0.001.-26-

-Between November 271, -2014, and March 31, 2015, the Company issued a total of 4,560,000 shares of common stock upon the requests from convertible note holders to convert principal totaling $3,274 into the Company’s common stock based on the terms set forth in the loans. The conversion rate was $0.001.

Between April 1, 2016, and September 30, 2016, the Company issued a total of 190,114,175 shares of common stock upon the requests from ~~convertible~~ convertible note holders to convert principal totaling $190,114 into the Company’s common stock based on the terms set forth in the loans. The conversion rate was $0.001.

Between October 1, 2016, and December 31, 2016, the Company issued a total of 208,879,614 shares of common stock upon the requests from ~~convertible~~ convertible note holders to convert principal totaling $208,880 into the Company’s common stock based on the terms set forth in the loans. The conversion rate was $0.001.

Between January 1, 2017, and March 31, 2017, the Company issued a total of 9,375,000 shares of common stock upon the requests from convertible note holders to convert principal totaling $9,375 into the Company’s common stock based on the terms set forth in the loans. ~~The~~ The conversion rate was $0.001.

Between April 1, 2017, and June 30, 2017, the Company issued a total of 405,000,000 shares of common stock upon the requests from convertible note holders to convert principal totaling $405,000 into the Company’s common stock based on the terms set forth in the loans. The conversion rate was $0.001.

On August 23, 2017, the Company’s Board authorized a 1:25 reverse stock split. All share and per share data in the accompanying financial statements and footnotes has been adjusted retrospectively for the effects of the stock split.

Between October 1, 2017, and December 31, 2017, the Company issued a total of 180,395,000 shares of common stock upon the requests from convertible note holders to convert principal totaling $180,395 into the Company’s common stock based on the terms set forth in the loans. The conversion rate was $0.001.

Between January 1, 2018, and March 31, 2018, the Company issued a total of 139,000,000 shares of common stock upon the requests from convertible note holders to convert principal totaling $139,000 into the Company’s common stock based on the terms set forth in the loans. The conversion rate was $0.001.

Between April 1, 2018, and June 30, 2018, the Company issued a total of 120,000,000 shares of common stock upon the requests from convertible note holders to convert principal totaling $120,000 into the Company’s common stock based on the terms set forth in the loans. The conversion rate was $0.001.

Preferred Stock

Preferred stock includes 50,000,000 shares authorized at $0.001 par value, of which 10,000,000 have been designated Series A and 525,000,000 ~~designated~~ designated as Series B. A total of 3,000,000 shares of Series A preferred stock are issued and outstanding as of September 30, ~~2018~~ 2020, and September 30, 2019. A total of 2034,~~000~~999,~~000~~899 shares of Series B preferred stock were outstanding as of September 30, ~~2019. No~~2020, ~~shares~~and a total of 101 Series C BPreference ~~preferred~~Shares ~~stock~~are ~~were~~issued and outstanding as of September 30, ~~2019~~2020.

-27-

Issued Preference Share B

On January 9, 2020, the Board of Directors, with the approval of a majority vote of the shareholders approved the filing of a Certificate of Amendment of Designation of the Company’s Series B Preferred Stock (“Series B Preferred Stock”). The Board of Directors authorized the increase of authorized shares of the Series B Preferred Stock to 37,999,899 shares by filing the Certificate of Amendment of Designation with the Nevada Secretary of State. The terms of the Certificate of Amendment of Designation of the Series B Preferred Stock, which was filed and approved by the State of Nevada on January 9, 2020, have not otherwise changed as previously filed and disclosed.

Issued Preference Share C

On January 9, 2020, the Board of Directors, with the approval of a majority vote of the shareholders approved the filing of a Certificate of Amendment of Designation of the Company’s Series C Preferred Stock (“Series C Preferred Stock”). The Board of Directors authorized the increase of authorized shares of the Series C Preferred Stock to 101 shares by filing the Certificate of Amendment of Designation with the Nevada Secretary of State. The terms of the Certificate of Amendment of Designation of the Series C Preferred Stock, which was filed and approved by the State of Nevada on January 9, 2020, have not otherwise changed as previously filed and disclosed.

NOTE 8 – INCOME TAXES

The provision/(benefit) for income taxes for the year ended September 30, ~~2019~~2020, and ~~2018~~2019 was as follows (assuming a 15% effective tax rate)

	September 30, 2019		September 30, 2018
	September 30, 2020		September 30, 2019
Current Tax Provision
Federal-
Taxable Income		-		-
Total current tax provisions		-		-
	$	-	$	-
Deferred Tax Provision
Federal-
Loss carry forwards	$	-	$	~~6,838~~-
Change in valuation allowance	$	-	$	~~6,838~~-
Total deferred tax provisions	$	-	$	-

As of September 30, ~~2019~~2020, the Company had approximately $13,~~714~~472,~~488~~301 in tax loss carry forwards that can be utilized future periods to reduce taxable income, and the carry forward incurred for the year ended September 30, ~~2019~~2020, will expire by the year 2035.

The Company did not identify any material uncertain tax positions. The Company did not recognize any interest or penalties for unrecognized tax benefits.

The federal income tax returns of the Corporation are subject to examination by the IRS, generally for three years after they are filed.

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NOTE 9 – RELATED PARTY TRANSACTIONS

Details of transactions between the Corporation and related parties are disclosed below.

The following transactions were carried out with related parties:

	September 30, 2019		September 30, 2018
	September 30, 2020		September 30, 2019
Loan from related party	$	12,~~956~~770,~~986~~739	$	1,~~737~~956,~~566~~986
Convertible Loans (B)	$	~~91,166~~-	$	91,166
Total	$	2,~~048~~770,~~152~~739	$	12,~~828~~048,~~732~~152

(a) From time to time, the president and stockholder of the Company provides advances to the Company for its working capital purposes. These advances bear no interest and are due on demand.

(b) See Note 6 for details of Convertible notes.

(c) On January 9th, 2020, the Company issued Mr Sheppard 14,999,899 Class B Preference Shares and 101 Class C Preference Shares in full satisfaction of his unpaid 2015 and 2016 Salary of $250,000.

Executive Employment

On February 10, 2020, Kibush Capital Corp., a Nevada corporation (the “Company”) entered into an Employment Agreement (the “Agreement”) with Warren Sheppard (“Mr. Sheppard”) an individual. Pursuant to the terms and conditions of the Agreement, Mr. Sheppard shall continue to serve as the Company’s President, Chief Executive Officer, Chief Financial Officer, Principal Financial Officer and a member of the Board of Directors and shall assume such other positions as reasonably requested by the Board of Directors, commencing on January 1, 2020 for a term of Four (4) years, and shall have the option to be renewed for an additional one (1) year unless earlier terminated. In exchange for his services, Mr. Sheppard shall receive a yearly salary of $24,000.

NOTE 10 – BUSINESS COMBINATIONS

Set out below are the controlled and non-controlled members of the group as of September 30, ~~2019~~2020, which, in the opinion of the directors, are material to the group. The subsidiaries as listed below have share capital consisting solely of ordinary shares, which are held directly by the Company; the country of incorporation is also their principal place of business.

Name of Entity		Country of Incorporation		Acquisition Date		Voting Equity Interests
Aqua Mining (PNG) Ltd		Papua New Guinea		28-Feb-2014			90	%

NOTE 11 – LEGAL PROCEEDINGS

We are not presently a party to any litigation.

NOTE 12 - CONTINGENT LIABILITIES

None.

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NOTE 13 – SUBSEQUENT EVENTS

~~Issued~~COVID-19 ~~Preference Share B & C~~pandemic

OnThe ~~December~~COVID-19 ~~30,~~pandemic ~~2019,~~announced by the ~~Board~~World ofHealth ~~Directors,~~Organisation ~~with~~post ~~the~~31 ~~approval~~January of2020 ais ~~majority~~having ~~vote~~negative ofimpact ~~its~~on ~~shareholders approved~~ the ~~filing~~world ofeconomy. ~~a Certificate~~We ofhave ~~Designation~~witnessed ~~establishing~~unprecedented ~~the~~measures ~~designations,~~implemented ~~preferences,~~by ~~limitations and relative rights of~~ the ~~Company’s~~government ~~Series~~on Cstrict ~~Preferred Stock~~border ~~(the~~security ~~“Designation” and the “Series C Preferred Stock”)~~requirements. ~~The~~It ~~Board~~is oflikely ~~Directors~~to ~~authorized~~have ~~the~~a ~~issuance~~significant ofimpact ~~101~~on ~~shares of Series C Preferred Stock, upon~~ the Company’s ~~filing~~export ~~the~~sales ~~Certificate~~and ofassociated ~~Designation~~supply ~~with the Nevada Secretary of State~~chains. ~~The~~However, ~~terms~~at ofthis ~~the~~point ~~Certificate~~ of ~~Designation~~time, of the ~~Series~~impact Cof ~~Preferred~~COVID-19 ~~Stock,~~is ~~which was filed~~ unknown and ~~approved~~cannot bybe ~~the~~quantified. ~~State of~~We ~~Nevada~~expect onour ~~December~~business ~~30,~~to ~~2019,~~remain ~~include~~in ~~the~~operation ~~right~~but towill ~~vote~~manage inthe ~~aggregate,~~unavoidable ondisruptions ~~all~~to ~~shareholder~~our ~~matters~~best ~~as follows:~~abilities.

~~Each one (~~S-1~~) share of Series C Preferred Stock shall have voting rights equal to (x) 0.019607 multiplied by the total issued and outstanding~~ ~~Common~~Registered ~~Stock~~Shares ~~eligible to vote at the time of the respective vote (the “Numerator”), divided by (y) 0~~Issued.49, minus (z) the Numerator. For the avoidance of doubt, if the total issued and outstanding Common Stock eligible to vote at the time of the respective vote is 443,354,541, the voting rights of one share of the Series C Preferred Stock shall be equal to 9,047,663 (e.g. (0.019607 x 443,354,541) / 0.49) – (0.019607 x 443,354,541) = 9,047,663).

~~With~~Under ~~respect to all matters upon which stockholders are entitled to vote or to which stockholders are entitled to give consent,~~ the ~~holders~~ ofterms ~~the~~and ~~outstanding~~conditions ~~shares~~ of ~~Series C Preferred Stock shall vote together with~~ the ~~holders~~S-1 ofeffective ~~Common~~as ~~Stock~~from ~~without~~August ~~regard to~~7th ~~class~~2019, ~~except~~Shares asissued toand ~~those~~Amounts ~~matters~~raised onas ~~which separate class voting is required by applicable law or the Corporation’s Articles of Incorporation or by-laws~~below.

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Date	Shares Subscribed			Proceeds $
January 6 2021		22,123,392	0.0015		33185
February 10 2021		23,237,347	0.0015		34856
March 17 2021		48,381,823	0.0015		72573
April 12 2021		50,000,000	0.0015		75000
May 18 2021		50,000,000	0.0015		75000
July 5 2021		50,000,000	0.0015		75000

		243,742,562			365614

On January 9, 2020, the Board of Directors, with the approval of a majority vote of the shareholders approved the filing of a Certificate of Amendment of Designation of the Company’s Series B Preferred Stock (“Series B Preferred Stock”). The Board of Directors authorized the increase of authorized shares of the Series B Preferred Stock to 34,999,899 shares by filing the Certificate of Amendment of Designation with the Nevada Secretary of State. The terms of the Certificate of Amendment of Designation of the Series B Preferred Stock, which was filed and approved by the State of Nevada on January 9, 2020 have not otherwise changed as previously filed and disclosed.

Debt Consolidation

On January 16, 2021, the Company entered into a Promissory Note Consolidation Agreement (the “Consolidation Agreement”) with one of its noteholders, Warren Sheppard., as lender (“Mr. Sheppard”). Pursuant to the terms of the Consolidation Agreement, the Company consolidated an aggregate of $1,358,692 of outstanding debt obligations (the “Outstanding Debt”), which included principal and interest, owed to Mr. Sheppard by the Company.

As a consequence of the debt consolidation, the derivative Liabilities associated with option component has been eliminated, therefore, derivative liabilities amounted to 722,732 as of the debt consolidation date are subsequently reversed and charged into profit and losses in January 2020.

Schedule of Outstanding Notes as at January 14th 2020

Promissory Note	Outstanding Principal		Outstanding Interest
David Loren Corporation. 2% Secured Promissory Note issued May 1, 2011 to Hoboken Street Associates, and as assigned to Warren Sheppard on July 3, 2013		22166		3,780
David Loren Corporation. 2% Secured Promissory Note issued January 2, 2012 to Hoboken Street Associates, and as assigned to Warren Sheppard on July 3, 2013		48,000		7,438
David Loren Corporation. 2% Secured Promissory Note issued January 3, 2013 to Hoboken Street Associates, and as assigned to Warren Sheppard on July 3, 2013		12,000		1,618
Kibush Capital Corp. 12.5% Secured Promissory Note issued March 31, 2014 to Warren Sheppard.		157,500		104,815
Kibush Capital Corp. 12.5% Secured Promissory Note issued June 30, 2014 to Warren Sheppard.		110,741		70,384
Kibush Capital Corp. 12.5% Secured Promissory Note issued September 30, 2014 to Warren Sheppard.		98,575		59,670
Kibush Capital Corp. 12.5% Secured Promissory Note issued September 30, 2015 to Warren Sheppard.		316,046		153,387
Kibush Capital Corp. 12.5% Secured Promissory Note issued October 10, 2016 to Warren Sheppard.		155,300		37,272
Total:		920,328		438,364

Upon the assumption by the Company of the Outstanding Debt, the Company and Mr. Sheppard entered into an unsecured promissory note (the “Consolidated Note”), which such Consolidated Note restated the repayment terms and conditions of the Outstanding Debt in full. Pursuant to the terms and conditions of the Consolidated Note, the Outstanding Debt accrues simple interest at 12.5% per year, compounded annually, and the Consolidated Note has a maturity date of January 15, 2022. No regularly scheduled periodic payments of principal or interest are due under the Consolidated Note, and, unless there is an earlier event of default, all outstanding and unpaid principal and interest under the Consolidated Note is due and payable in a single lump sum payment at maturity. The Consolidated Note also removes any common stock conversion features from previous notes. The Company may prepay the Consolidated Note at any time prior to maturity without penalty.

Executive Employment

- 30 -

NOTE 14 – INVENTORY

Inventories are valued at cost. Cost is determined using the first-in, first-out method. The cost of finished goods and work-in-progress comprises raw materials, direct labour, other direct costs, and related production overheads (based on normal operating capacity) but excludes borrowing costs. There are three types of ~~inventory~~inventories in three stages of completion. Raw materials comprise of logs that are on the ground and at the log pond; Work-in-progress comprise of rough sawn timber at the Rigo site whilst Finished goods are planed, straightened timber at Laloki for sale. Each would have a different wholesale value depending on the level of processing. The stock levels held as raw materials and finished goods are minimal, and the saleable condition of the finished timber is questionable and unable to be accurately valued therefore we have written stock down to nil net realizable value.

~~Management~~Increase isin ~~unable~~Authorized ~~to verify the stocktake and valuation at year end~~Shares. ~~Accordingly, for the year ended September 30, 2019, we written down the amounts to zero to accommodate that situation.~~

Increase in Authorised Shares.

The Corporation has filed with the Nevada Secretary of State a resolution that the Corporation be and hereby is authorized to increase its authorized shares to Two Billion (2,000,000,000) shares of common stock authorized and Fifty Million (50,000,000) shares of preferred authorized, the Board of Directors consented to this filing February 19, 2020, at the date of this Report the Corporation has not yet received confirmation from Nevada Secretary of State.

ITEM 8.

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.

OnOur ~~August~~financial ~~21,~~statements ~~2017,~~for ~~Kibush Capital Corporation (~~the ~~“Company”)~~fiscal ~~was~~years ~~notified~~ended bySeptember ~~DLL CPAs~~30, ~~LLC~~2020 ~~(“Former~~included ~~Auditor”) of~~in ~~its~~this ~~decision~~report, tohave ~~discontinue~~been ~~the~~audited ~~performance~~by ofShineWing ~~public company audit services and of its resignation, effective August 24, 2017,~~Australia. asThere ~~the~~have ~~Company’s~~been ~~independent~~no ~~registered~~disagreements ~~public~~on accounting ~~firm.~~and ~~DLL~~financial ~~CPA’s~~disclosures ~~resignation~~with ~~was~~ShineWing ~~accepted~~Australia bythrough the ~~Company’s Board~~date of ~~Directors~~this Form 10-K.

Our financial statements for the fiscal years ended September 30, 2019, included in this report, have been audited by ShineWing Australia. There have been no disagreements on accounting and financial disclosures with ShineWing Australia through the date of this Form 10-K.

ITEM 9A.

CONTROLS AND PROCEDURES.

Limitations on the Effectiveness of Controls

Our management, does not expect that our Disclosure Controls and internal controls will prevent all errors and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of a simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management or board override of the control.

The design of any system of controls 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; over time, controls may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate. Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.

- 31 30-

Management’s Report on Internal Control over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Securities Exchange Act of 1934 as a process designed by, or under the supervision of, the company’s principal executive and principal financial officers and effected by the company’s board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America.

All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Because of the inherent limitations of internal control, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk.

As of September 30, ~~2019~~2020, management assessed the effectiveness of our internal control over financial reporting based on the criteria ~~for~~ for effective internal control over financial reporting established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) and SEC guidance on conducting such assessments. Based upon that evaluation, the Company’s management concluded that the Company’s disclosure controls and procedures are not effective at the reasonable assurance level due to the material weaknesses described below:

1.	We do not have written documentation of our internal control policies and procedures. Written documentation of key internal controls over financial reporting is a requirement of Section 404 of the Sarbanes-Oxley Act which is applicable to us. Management evaluated the impact of our failure to have written documentation of our internal controls and procedures on our assessment of our disclosure controls and procedures and has concluded that the control deficiency that resulted represented a material weakness.

2.	The Company’s board of directors has no audit committee, independent director or member with financial expertise which causes ineffective oversight of the Company’s external financial reporting and internal control over financial reporting.

3.	We do not have sufficient segregation of duties within accounting functions, which is a basic internal control. Due to our size and nature, segregation of all conflicting duties may not always be possible and may not be economically feasible. However, to the extent possible, the initiation of transactions, the custody of assets and the recording of transactions should be performed by separate individuals. Management evaluated the impact of our failure to have segregation of duties on our assessment of our disclosure controls and procedures and has concluded that the control deficiency that resulted represented a material weakness.

Due to these factors, during the period covered by this report, our internal controls and procedures may not be effective to detect a material misstatement. The lack of a functioning audit committee, the lack of segregation of duties within accounting functions, and the lack of multiple directors on our board of directors may result 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.

The Company plans to add additional directors, add accounting personnel, and establish an audit committee over time, once it has sufficient income and cash flow to make those changes.

This annual report does not include an attestation report of our registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by our registered public accounting firm because we are a smaller reporting company.

CEO and CFO Certifications

Appearing immediately following the Signatures section of this report there is Certification of our CEO/CFO. The Certification is required in accordance with Section 302 of the Sarbanes-Oxley Act of 2002 (the Section 302 Certifications). This Item of this report, which you are currently reading is the information concerning the Evaluation referred to in the Section 302 Certifications and this information should be read in conjunction with the Section 302 Certifications for a more complete understanding of the topics presented.

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Changes in Internal Controls

There were no changes in our internal control over financial reporting during the year ended September 30, ~~2019~~2020, that have affected, or are reasonably likely to affect, our internal control over financial reporting.

ITEM 8B.

OTHER INFORMATION.

None.

PART III

ITEM 9.

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.

The following table presents information with respect to our officers, directors and significant employees as of the date of this Report:

Name	Age	Position
Warren Sheppard	62	President, Chief Executive Officer, and ~~director~~Director
Vincent Appo	52	PNG Operations Manager; Director of Aqua Mining

Our directors hold office until the next annual general meeting of the stockholders or until their successors are elected and qualified. Our officers are appointed by our board of directors and hold office until their earlier death, retirement, resignation, or removal.

Biographical Information Regarding Officers and Directors

Warren Sheppard has served as our President, Chief Executive Officer, and director since July 5, 2013. Mr. Sheppard has had an Accountancy Practice, primarily tax based in Australia for approximately the last 30 years. In addition Mr. Sheppard also has served in an ~~oversight~~ oversight capacity as Chief Executive Officer of Q6 Pty Ltd., a software development company, from 2005 to date, and in an oversight capacity as Chief Financial Officer of Uniware Pty Ltd., an accounting software company, from 2001 to date; Westvantage Pty Ltd., a software company, from 2011 to date; Xceed Pty Ltd., an internet development company, from 2001 to date; Ozisp Pty Ltd., an internet service provider company, from 2001 to date; and Altius Mining Ltd., a gold exploration mining company from 2008 to 2011, devoting a few hours per month to these entities, none of which compete with the Company. Mr. Sheppard has served as director of several Australian private companies as well as serving as Trustee of the Australian Aiding Australia Trust, More Superannuation Fund and McMahon Superannuation Fund. Mr. Sheppard’s accounting background as well as his experience serving as chief executive officer and chief financial officer and director of various Australian private companies led to his appointment to the board of directors.

Vincent Appo has been mining manager of the Company since October 2013. Prior thereto, from June 2012 to November 2013, Mr. Appo was the Mine Operations Manager/Acting General Manager for Tolukuma Gold Mines Limited in Papua, New Guinea. Mr. Appo served as Consulting Survey Project Manager for Dempsey Australia Ltd, Papua, New Guinea from May 2011 to December 2011, and Mine Technical Services Manager/Acting Mine General Manager for Tolukuma Gold Mines Limited from January 2011 to July 2011 and for other gold mines in Papua, New Guinea in various positions since 2002. From 1997 to 2002, Mr. Appo was Chief Surveyor for two companies in New Guinea. Mr. Appo also serves as director of Aqua Mining, a subsidiary of the Company.

Neither Mr. Sheppard nor Mr. Appo are directors in any other U.S. reporting companies, nor have they been affiliated with any company that ~~has~~ has filed for bankruptcy within the last ten years. The Company is not aware of any proceedings to which he or any of his associates is a party adverse to the Company or any of the Company’s subsidiaries or has a material interest adverse to it or any of its subsidiaries.

- 33 32-

Significant Employees

Compliance With Section 16(a) of the Securities Exchange Act of 1934

Section 16(a) of the Securities Exchange Act of 1934 requires our executive officers and directors, and persons who beneficially own more than 10% of our equity securities, to file reports of ownership and changes in ownership with the Securities and Exchange Commission. Officers, directors and greater than 10% shareholders are required by SEC regulation to furnish the Company with copies of all Section 16(a) forms they file. Based solely upon a review of Forms 3 and 4 and amendments thereto furnished to us during our most recent fiscal year, to the best of our knowledge, all executive officers, directors and persons holding greater than 10% of our issued and outstanding stock have filed the required reports in a timely manner during our 2016 fiscal year.

Conflicts of Interest

At this time, we are not subject to the listing requirements of any national securities exchange or national securities association and, as a result, we are not required to have our board comprised of a majority of “independent directors.” Furthermore, we do not believe that our director currently meets the definition of “independent” as promulgated by the rules and regulations of the NYSE Alternext US (formerly known as the American Stock Exchange).

We currently have one director who is also our chief executive. We do not have an audit or compensation committee comprised of independent directors, and the functions that would have been performed by such committees are performed by our Board of Directors. Thus, there is a potential conflict of interest in that our directors have the authority to determine issues concerning management compensation, in essence their own, and audit issues that may affect management decisions.

Audit Committee

We have no separately- designated audit committee. Audit committee functions are performed by our board of directors. None of our ~~directors~~ directors are deemed independent. All directors also hold positions as our officers. Our board of directors is responsible for: (1) selection and oversight of our independent accountant; (2) establishing procedures for the receipt, retention and treatment of complaints regarding accounting, internal controls and auditing matters; (3) establishing procedures for the confidential, anonymous submission by our employees of concerns regarding accounting and auditing matters; and (4) engaging outside advisors. Moreover, our Board of Directors has not established compensation or disclosure committees.

Audit Committee Financial Expert

We do not have an audit committee financial expert. We do not have an audit committee financial expert because we believe the cost related to retaining a financial expert at this time is prohibitive. Further, because we are only beginning our commercial operations, at the present time, we believe the services of a financial expert are not warranted.

Code of Ethics

We have adopted a corporate code of ethics. We believe our code of ethics is reasonably designed to deter wrongdoing and promote honest and ethical conduct; provide full, fair, accurate, timely and understandable disclosure in public reports; comply with applicable laws; ensure prompt internal reporting of code violations; and provide accountability for adherence to the code.

- 34 33-

Involvement in Certain Legal Proceedings

During the past ten years, Mr. Warren Sheppard has not been the subject of the following events:

A petition under the Federal bankruptcy laws or any state insolvency law was filed by or against, or a receiver, fiscal agent or similar officer was appointed by a court for the business or property of such person, or any partnership in which he was a general partner at or within two years before the time of such filing, or any corporation or business association of which he was an executive officer at or within two years before the time of such filing;

2.	Convicted in a criminal proceeding or is a named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses);

3. The subject of any order, judgment, or decree, not subsequently reversed, suspended, or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him from, or otherwise limiting, the following activities;:

	i)	Acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures Trading Commission, or an associated person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment company, bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection with such activity;
	ii)	Engaging in any type of business practice; or
	iii)	Engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of Federal or State securities laws or Federal commodities laws;

4. The subject of any order, judgment, or decree, not subsequently reversed, suspended, or vacated, of any Federal or State authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described in paragraph 3.i in the preceding paragraph or to be associated with persons engaged in any such activity;:

5.	Was found by a court of competent jurisdiction in a civil action or by the Commission to have violated any Federal or State securities law, and the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended, or vacated;

6. Was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended, or vacated;

7.	Was 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, relating to an alleged violation of:

	i)	Any Federal or State securities or commodities law or regulation; or
	ii)	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
	iii)	Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or

Was 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.

ITEM 10.

EXECUTIVE COMPENSATION.

Compensation of Officers

Option award compensation is the fair value for stock options vested during the period, a notional amount estimated at the date of the grant using the Black-Scholes option-pricing model. The actual value received by the executives may differ materially and adversely from that estimated. A summary of cash and other compensation paid in accordance with management consulting contracts for our Principal Executive Officer and other executives for the most recent two years is as follows:

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Executive Compensation

Name and Principal Position (a)	Year (b)		Salary (US$) (c)		Bonus (US$) (d)		Stock Awards (US$) (e)		Option Awards (US$) (f)		Non-Equity Incentive Plan Compensation (US$) (g)		Nonqualified Deferred Compensation Earnings (US$) (h)		All Other Compensation (US$) (i)		Total (US$) (j)
Warren Sheppard		~~2019~~2020		~~250~~80,~~000~~500		0		0		0		0		0		0		~~250~~80,~~000~~500
President & CEO		~~2018~~2019		250,000		0		0		0		0		0		0		250,000
Vincent Appo		~~2019~~2020		55,821		0		0		0		0		0		0		55,821
Operations Manager &		~~2018~~2019		5755,~~457~~821		0		0		0		0		0		0		5755,~~457~~821
Director of Aqua Mining

(1)

Mr. Sheppard was appointed president and CEO on May 20, 2013. Mr. Sheppard earned a salary of $250,000 during the fiscal years ended September 30, 2019, and $80,500 during the fiscal years ended September 30, ~~2018~~2020. Mr. Sheppard earned no bonuses during the fiscal year ended September 30, ~~2019~~2020, and earned no bonuses during the year ended September 30, ~~2018~~2019. The Company did not have the ability to pay Mr. Sheppard’s earnings in during the fiscal year, so those earnings were accrued as a liability of the Company. Mr. Sheppard’s base compensation for the fiscal years ended September 30, ~~2019~~2020, and ~~2018~~2019 may be converted into shares, but such shares have not been issued. Mr. Sheppard has not waived his rights to these shares. On January 9th, 2020, the Company issued Mr Sheppard 14,999,899 Class B Preference Shares and 101 Class C Preference Shares in full satisfaction of his unpaid 2015 and 2016 Salary of $250,000.

(2)

Mr. Appo was appointed as operations manager on January 1, 2014 and became director of Aqua Mining on May 26, 2014. Mr. Appo earned a salary of $55,821 (156,000 PGK) during fiscal year ~~2018~~2019 and ~~$57,457 (182,000 PGK) during fiscal year 2017~~2018.

Employment Contracts

Warren Sheppard: AtWe ~~the beginning of the fiscal year ended September 30, 2014, we~~ entered into an employment agreement, dated ~~October~~ January 1, ~~2013~~2020, with Warren Sheppard to serve as our President and as a director. The initial term of the agreement is ~~five~~four years, which term shall automatically be renewed for additional ~~two~~one-year periods, unless the Company shall notify Mr. Sheppard at least 90 days prior to the expiration of the then current term or its desire not to renew the agreement. As the President, Mr. Sheppard receives an annual base salary of $~~250~~24,000 which shall not be decreased except in connection with the reduction of the salaries of all executives of the Company. If the Company does not have sufficient funds to pay Mr. Sheppard’s salary, he shall be paid in common stock of the Company in an amount equal to three times the amount of unpaid base salary based on the closing price of the Company’s stock as of the final day of the fiscal year in which such salary was earned. In addition, Mr. Sheppard shall be entitled to a bonus in the amount of $150,000 to be payable in common stock of the Company, upon the acquisition of a subsidiary or business valued at greater than $1,000,000. Such acquisition bonuses will be issued based upon the closing price of the Company’s stock as of the date of the closing of such an acquisition. Mr. Sheppard receives no separate compensation to serve as a director of the Company. In the event Mr. Sheppard employment is terminated for whatever reason, he will be entitled to salary and benefits that have accrued prior to the date of termination. There are no provisions for severance payments upon termination in the agreement. Mr. Sheppard is subject to a non-solicitation prohibition for two years after his termination of employment with the Company.

Other Executive Officers

During ~~2019~~2020, no employment contracts were entered into with any officers.

Retirement, Resignation or Termination Plans

We sponsor no plan, whether written or verbal, that would provide compensation or benefits of any type to an executive upon retirement, or any plan that would provide payment for retirement, resignation, or termination as a result of a change in control of our company or as a result of a change in the responsibilities of an executive following a change in control of our company.

Outstanding Equity Awards

Our officers and directors do not have unexercised options, stock that has not vested, or equity awards. There were no outstanding ~~equity~~ equity awards to our named executive officers at September 30, ~~2019~~2020.

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Compensation of Directors

Directors’ Compensation

Name

(a)

Fees Earned

Paid in Cash

(US$)

(b)

Stock

Awards

(US$)

(c)

Option

Awards

(US$)

(d)

Non-Equity

Incentive Plan

Compensation

(US$)

(e)

Deferred

Compensation

Earnings

(US$)

(f)

All Other

Compensation

(US$)

(g)

Total

(US$)

(h)

Warren Sheppard

The persons who served as members of our board of directors, including executive officers did not receive any compensation for services as as a director for ~~2019~~2020.

We do not currently have Board committees, including an audit committee.

Indemnification

Our Amended and Restated Articles of Incorporation (“Articles”) provide that our directors and officers be indemnified by us to the fullest extent authorized by the Nevada Revised Statutes, against all expenses and liabilities reasonably incurred in connection with services for us or on our behalf except for (i) acts or omissions that involve intentional misconduct, fraud , or a knowing violation of law or (ii the payment of dividends in violation of Nevada law. Our Articles also permit us to secure insurance on behalf of any officer, director, employee, or other agent for any liability arising out of his or her actions in this capacity. Our Articles provide that we will advance all expenses incurred to any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil or criminal, upon receipt of an undertaking by or on behalf of such person to repay said amounts should it be ultimately determined that the person was not entitled to be indemnified under our Articles or otherwise.

Our Bylaws provide that our directors and officers be indemnified by us to the fullest extent authorized by the Nevada Revised Statutes, against all expenses and liabilities reasonably incurred in connection with services for us or on our behalf except that there shall be no indemnification if a person is adjudged liable to the Company unless and to the extent that despite such adjudication, the court determines that such person is entitled to indemnity or determined by the majority of directors, independent legal counsel or the stockholders.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted by directors, executive officers or persons controlling us, we have been informed that in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

-36-

ITEM 11.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

The following table lists, as of March 12, 2020: (i) each person or entity known to us to be the beneficial owner of more than 5% of our outstanding common stock or preferred stock; (ii) each of our named executive officers and directors; and (iii) all executive officers and directors as a group. Information relating to beneficial ownership of the Company’s stock by our principal stockholders and management is based upon information furnished by each person using “beneficial ownership” concepts under the rules of the Securities and Exchange Commission. Under these rules, a person is deemed to be a beneficial owner of a security if that person has or shares voting power, which includes the power to vote or direct the voting of the security, or investment power, which includes the power to vote or direct the voting of the security. The person is also deemed to be a beneficial owner of any security of which that person has a right to acquire beneficial ownership within 60 days. Under the Securities and Exchange Commission rules, more than one person may be deemed to be a beneficial owner of the same securities, and a person may be deemed to be a beneficial owner of securities as to which he or she may not have any pecuniary beneficial interest. Except as noted below, each person has sole voting and investment power.

The percentages below are calculated based on ~~184~~737,~~354~~087,~~541~~103 shares of common stock issued and outstanding as of ~~March~~August 1224th, ~~2020~~2021 and 2338,000,000 shares of our preferred stock issued and outstanding as of the same date.

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Table of Beneficial Ownership of Stock

Name of Beneficial Owner	Title of Class	Amount of Direct Ownership			Amount of Indirect Ownership			Total Beneficial Ownership			Percentage of Class
Five Arrows Limited (1) Suite 201, Rogers Office Building Edwin Wallace Ray Drive, George Hill, Anguilla	Common Stock		284,447			0			284,447			0.01	%
More Superannuation Fund (2)	Common Stock		1,327			0			1,327			0.01	%
7 Sarah Crescent Templestowe, VIC 3106 Australia	Series A Preferred Stock		3,000,000			0			3,000,000			100	%
Warren Sheppard (3)	Common Stock		150,013,343			285,775			150,299,118			8120.3	%
7 Sarah Crescent Templestowe, VIC 3106 Australia	Series B Preferred Stock		2034,~~000~~499,~~000~~899			0			2034,~~000~~499,~~000~~899			100	%
All Officers and Directors as a Group (2 Persons)	Common Stock		150,013,343	(3)		285,775	(3)		150,299,118	(3)		81.3	%
	Series C Preferred stock		101			0			101			100	%
	Series A Preferred Stock					3,000,000	(2)		3,000,000	(2)		100	%
			150,013,343	(3)		285,775	(3)		150,299,118	(3)		20.3	%
	Series B Preferred Stock		20,000,000	(3)					20,000,000	(3)		100	%
All Officers and Directors as a Group (2 Persons	Common Stock Series A Preferred Stock					3,000,000	(2)		3,000,000	(2)		100	%
	Series B Preferred Stock		21,500,000	(3)					21,500,000	(3)		100	%

(1) Richard N. Wilson, Chief Executive Officer of Five Arrows Limited (“Five Arrows”) has voting and investment power over the shares held by Five Arrows. However, Mr. Sheppard, as the sole shareholder of Five Arrows, has the ability to influence or control the voting of such shares. (2) More Superannuation Fund (“More”) is controlled by Warren Sheppard. More owns all of the 3,000,000 shares of Series A Preferred Stock issued and oustanding as well as 1,327 shares of Common Stock. More controls 60,298,503 votes, 298,503 from common stock and 60,000,000 from its preferred stock which votes with common stock at 20:1. (3) Warren Sheppard directly owns 150,013,343 shares of Common Stock. Mr. Sheppard holds in notes that are convertible in to 1,510,630,000 shares of common stock based upon the March 12, 2020 closing price, but those shares are excluded from this calculation as they could not be converted into common stock at this time due to the current number of authorized shares. In addition, Mr. Sheppard controls Five Arrows Limited and More Superannuation Fund through which he indirectly owns an additional 285,775 shares of common stock. Therefore, Mr. Sheppard’s total beneficial ownership of the Company’s common stock is 150,299,118 shares. In addition to Mr. Sheppard’s ownership of commmon stock, he owns 20,000,0000 shares of Class B Preferred Stock directly and 3,000,000 shares of Class A Preferred Stock indirectly. Class A Preferred votes with common stock at a ratio of 20 to 1 and Class B Preferrred votes with common stock at a ratio of 100 to 1. Including the voting power provided in through the Company’s Preferred Stock, Mr. Sheppard holds approximately 54.7% of the Company’s voting power. These calculations exclude any shares of common stock to which Mr. Sheppard may earn after September 30, 2017 pursuant to his employment agreement with the Company; should the Company have insufficient funds to pay Mr. Sheppard’s salary, in an amount equal to three times the amount of unpaid base salary and shares in the amount of $150,000 upon the acquisition of a subsidiary or business valued at greater than $1,000,000 as a bonus.

(2) More Superannuation Fund (“More”) is controlled by Warren Sheppard. More owns all of the 3,000,000 shares of Series A Preferred Stock issued and outstanding as well as 1,327 shares of Common Stock. More controls 60,298,503 votes, 298,503 from common stock and 60,000,000 from its preferred stock which votes with common stock at 20:1.

(3) Warren Sheppard directly owns 150,013,343 shares of Common Stock. In addition, Mr. Sheppard controls Five Arrows Limited and More Superannuation Fund through which he indirectly owns an additional 285,775 shares of common stock. Therefore, Mr. Sheppard’s total beneficial ownership of the Company’s common stock is 150,299,118 shares. In addition to Mr. Sheppard’s ownership of common stock, he owns 34,499,899 shares of Class B Preferred Stock and 101 shares of Class C Preferred directly and 3,000,000 shares of Class A Preferred Stock indirectly. Class A Preferred votes with common stock at a ratio of 20 to 1, Class B Preferred votes with common stock at a ratio of 100 to 1, and Class C Preferred votes at 65% of the Issued Stock. Including the voting power provided in through the Company’s Preferred Stock, Mr. Sheppard holds approximately 90% of the Company’s voting power.

The Company does not have any change-in-control agreements with its executive officer nor know of any arrangements which may result in a change of control of the Company.

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ITEM 12.

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.

Related Party Transactions

Except as described below, there were no transactions with any executive officers, directors, 5% stockholders and their families and ~~affiliates~~ affiliates during the fiscal year ended September 30, ~~2019~~2020.

Vincent Appo, the Company’s mining manager is a director and a 10% shareholder of our Papua New Guinea subsidiary, Aqua Mining (PNG) Limited

On December 10, 2014, the Company authorized the issuance of 3,001,702 shares of common stock to Warren Sheppard pursuant to the employment contract between the Company and Mr. Sheppard.

From time to time, ~~the~~ Warren Sheppard provided advances to the Company for its working capital purposes., ~~These~~during ~~advances bear no interest and are due on demand. For~~ the ~~fiscal~~financial year ~~ended~~ending September 30, ~~2016~~2020,Mr ~~these~~Sheppard ~~advances~~advanced ~~totaled~~a further $~~339~~201,~~920~~712. ~~Moreover,~~These ~~from~~advances ~~time~~bear tono ~~time, the~~interest ~~Company~~and ~~issued~~are ~~Convertible~~due ~~Notes~~on ~~to Warren Sheppard as detailed in Note 6 to the Financial Statements~~demand. ~~For the fiscal year ended September 30, 2016, the Company had issued a total of $366,318 in such Convertible Notes to Warren Sheppard.~~

~~The~~As ~~related~~at ~~party~~September ~~loans consist of (1) a five-year loan agreement dated July 15~~30, ~~2011 for $150~~2020,~~000~~ ~~AUD~~these ~~loan~~advances ~~from~~owing ~~Hancore~~to ~~Pty~~Mr ~~Ltd. (Hancore Pty Ltd. is a related party via it’s more than 10% ownership by Warren~~ Sheppard), ~~and~~totalled ~~(2) a~~ $~~230~~1,~~000 AUD loan dated September 30~~412, ~~2014 from Warren Sheppard~~047. ~~The Hancore loan is unsecured and has a 20 percent per annum interest rate. The Sheppard note is unsecured and is interest free.~~

On ~~February~~January 289th, ~~2015~~2020, the Company ~~sold~~issued toMr ~~Hancore~~Sheppard ~~Pty Ltd.~~14, ~~a related party~~999,899 ~~its~~Class ~~interest~~B inPreference ~~Instacash~~Shares ~~in exchange for cancellation of the $500,000 promissory note~~ and ~~accrued~~101 ~~interest~~Class ~~owed~~C toPreference ~~Hancore~~Shares ~~Pty~~in ~~Ltd.~~full ~~from~~satisfaction of ~~the~~his ~~acquisition~~unpaid of2015 ~~Instacash~~and in2016 ~~October~~Salary of ~~2013~~ $250,000.

As disclosed in Note 6, Mr Sheppard, entered into a Debt Consolidation during the year.

Director Independence

We are not subject to the listing requirements of any national securities exchange or national securities association and, as a result, we are not at this time required to have our board comprised of a majority of “independent directors.” We do not believe that our director currently meets the definition of “independent” as promulgated by the rules and regulations of the NYSE Alternext US (formerly known as the American Stock Exchange).

The Board of Directors has not established an audit committee and does not have an audit committee financial expert.

ITEM 13.

PRINCIPAL ACCOUNTING FEES AND SERVICES.

(1) Audit Fees

The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for our audit of annual financial statements and reviews of our interim financial statements included in our Form 10-Q and Form 10-K or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years was:

2018	ShineWing Australia	$	15,000
2020	ShineWing Australia	$	15,000
2017	Shine Wing Australia	$	15,000
2019	Shine Wing Australia	$	15,000

(2) Audit-Related Fees

The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountants that are reasonably related to the performance of the audit or review of our financial statements and are not reported in the preceding paragraph:

2019	ShineWing Australia	$	0
	2020		ShineWing Australia	$	0
2018	ShineWing Australia	$	0
	2019		ShineWing Australia	$	0

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(3) Tax Fees

The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning was:

2019	ShineWing Australia	$	0
	2020		ShineWing Australia	$	0
2018	Shine Wing Australia	$	0
	2019		Shine Wing Australia	$	0

(4) All Other Fees

The aggregate fees billed in each of the last two fiscal years for the products and services provided by the principal accountant, other than the services reported in paragraphs (1), (2), and (3) was:

2019	ShineWing Australia	$	0
	2020		ShineWing Australia	$	0
2018	ShineWing Australia	$	0
	2019		ShineWing Australia	$	0

(5)

As a smaller reporting company, we do not have an audit committee. Warren Sheppard, our sole director, approves all accounting related activities prior to the performance of any services by any accountant or auditor.

(6) The percentage of hours expended on the principal ~~accountants~~accountant’s engagement to audit our consolidated financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountants full time, permanent employees, to the best of our knowledge, was 0%.

PART IV.

ITEM 14.

EXHIBITS AND CONSOLIDATED FINANCIAL STATEMENT SCHEDULES.

The following is a complete list of exhibits filed as part of this annual report:

Exhibit

Incorporated by reference

Filed

Number

Document Description

Form

Date

Number

herewith

3.1

Articles of Incorporation, as amended

Form 10/A

8/05/15

3.1 – 3.6

3.2

Bylaws

Form 10/A

8/05/15

3.7

4.1

Certificate of Designation, dated April 19, 2011

Form 10/A

8/05/15

4.1

4.2

Certificate of Designation, dated November 22, 2016

10-K

17/11/16

4.1

10.1

Management Agreement for Paradise Gardens (PNG)

10-Q

8/20/15

10.1

14.1

Code of Ethics

10-K

1/13/16

14.1

31.1

Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1

Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 for the Chief Executive Officer

101. INS

XBRL Instance Document

101. SCH

XBRL Taxonomy Extension – Schema

101. CAL

XBRL Taxonomy Extension – Calculations

101. DEF

XBRL Taxonomy Extension – Definitions

101. LAB

XBRL Taxonomy Extension – Labels

101. PRE

XBRL Taxonomy Extension – Presentation

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SIGNATURES

In accordance with Section 13 or 15(d) of the Securities and Exchange Act, the registrant caused this report to be signed on its ~~behalf~~ behalf by the undersigned, thereunto duly authorized, on this ~~16th~~31st day of ~~March~~August ~~2020~~2021.

	KIBUSH CAPITAL CORPORATION

	BY:	/s/ WARREN SHEPPARD
		Warren Sheppard
		President and Principal Executive Officer, Principal Accounting Officer, Principal Financial Officer, Secretary and Treasurer

In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dated indicated.

Signature	Title	Date
/s/ WARREN SHEPPARD	President, Chief Executive Officer, Chief Financial Officer and Director	~~March~~August 1631, ~~2020~~2021
Warren Sheppard

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