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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

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

For the quarterly period ended: ~~September 30~~March 31, ~~2020~~2021

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

For the transition period from __________ to __________

Commission file number: 000-55824

~~TEAM 360~~Crank ~~SPORTS~~Media ~~INC.~~ Inc (Exact name of registrant as specified in its charter)

Nevada	~~33-1227600~~	33-1227600
(State or other jurisdiction	~~(IRS Employer Identification No.)~~	(IRS Employer
of Incorporation or organization)		Identification No.)

~~163~~1720-650 ~~Killian~~West ~~Rd.~~Georgia Street

~~Maple~~Vancouver, ~~Ontario~~ BC, Canada ~~LGA~~V6B ~~1A8~~ 4N8 (Address of principal executive offices and zip code)

(~~775~~604) ~~882~~ 558-~~4641~~ 2515(Registrant’s telephone number, including area code)

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

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
N/A		N/A		N/A

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

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

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

1Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☐ Smaller Reporting company ☒ Emerging Growth company ☒

[If ]an ~~Large~~emerging ~~accelerated~~growth ~~filer~~company, [indicate ]by ~~Accelerated~~check ~~filer~~mark ~~[X]~~if ~~Non-accelerated~~the ~~filer~~registrant ~~[X]~~has ~~Smaller~~elected ~~Reporting~~not ~~company~~to ~~[X]~~use ~~Emerging~~the ~~Growth~~extended ~~company~~transition period for complying with any new or revised ﬁnancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

IfIndicate ~~an emerging growth company, indicate~~ by check mark ifwhether the registrant ~~has~~ ~~elected~~is ~~not~~a toshell ~~use~~company ~~the~~(as ~~extended~~defined ~~transition~~in ~~period~~Rule ~~for~~12b-2 ~~complying with any new or revised ﬁnancial accounting standards provided pursuant to Section 13(a)~~ of the Exchange Act). ☐ [Yes ☒ ]No

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

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

Class		Outstanding at ~~November~~October 621, ~~2020~~2021
Common stock, $0.001 par value		540,~~131~~456,612

2Crank Media, Inc.

Team 360 Sports Inc.

Form 10-Q

For the ~~Nine~~Three Months Ended ~~September 30~~March 31, ~~2020~~2021

INDEX

		~~Page~~	Page
PART I – FINANCIAL INFORMATION
Item 1.	Financial Statements	4	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	11	4
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	14
Item 4.	Controls and Procedures	14	7
PART II – OTHER INFORMATION
Item 1.	Legal Proceedings	15	8
Item 1A.	Risk Factors	15	8
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	15	8
Item 3.	Defaults Upon Senior Securities	15	8
Item 4.	Mine Safety Disclosures	15	8
Item 5.	Other Information	15	8
Item 6.	Exhibits	15	8
Signatures		16	9

32 Table of Contents

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

~~Team 360~~3 ~~Sports~~Table ~~Inc.~~of Contents

Crank Media, Inc.

Balance Sheets

(Unaudited)

	September 30,			December 31,
	March 31,			December 31,
	2020			2019
	2021			2020
Assets
Current Assets
Cash	$	~~358~~-		$	~~214~~358
Total Current Assets		358			214
Due from related party		24,928			-
Total Assets	$	358		$	214
Total Current Assets		24,928			358
Liabilities and Stockholders' Deficit
Total Assets	$	24,928		$	358
Liabilities and Stockholders’ Deficit
Current Liabilities
Accounts payable and accrued liabilities	$	1779,~~622~~215		$	1314,~~334~~713
Deferred revenue		21,~~984~~706			42,~~902~~345
Due to related party		1012,~~281~~450			212,~~781~~450
Loan payable		61,878			38,757
Promissory notes, net of discount of $0		164,478			-
Convertible notes, net of unamortized discount		91,240			90,545
Loan payable and accrued interest		-			21,849
Accrued compensation - related party		—			337,500
Convertible notes, net of unamortized discount		-			91,240
Liabilities to be settled in stock		350,000			350,000
Liabilities to be settled in 350,000 shares of common stock		-			350,000
Total Current Liabilities		~~534~~257,~~005~~849			~~837~~492,~~819~~597
Total Liabilities		~~534~~257,~~005~~849			~~837~~492,~~819~~597
Stockholders' Deficit
Stockholders’ Deficit
Common stock: 100,000,000 authorized; $0.001 par value,5,131,612 shares issued and outstanding		5,132			5,132
Common stock: 100,000,000authorized; $0.001 par value, 40,106,612 and 5,756,612 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively		40,107			5,757
Additional paid in capital		2,~~058~~820,~~100~~389			12,~~345~~119,~~600~~975
Accumulated deficit		(2,596,879	)		(2,188,337	)
Common stock subscriptions payable		3,000			-
Total Stockholders' Deficit		(533,647	)		(837,605	)
Accumulated deficit		(3,096,417	)		(2,617,971	)
Total Liabilities and Stockholders' Deficit	$	358		$	214
Total Stockholders’ Deficit		(232,921	)		(492,239	)
Total Liabilities and Stockholders’ Deficit	$	24,928		$	358

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

4 Table of Contents

~~Team 360~~Crank ~~Sports~~Media, Inc.

Statements of Operations

(Unaudited)

		For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	For the
		2020			2019			2020			2019
	Three Months Ended
Revenues	$	639		$	639		$	1,918		$	1,918
	March 31,
Operating expenses
	2021			2020
Compensation expenses – related party		125,000			112,500			375,000			337,500
Revenues	$	639		$	639
General and administration expenses		10,815			33,437			28,568			48,877
Operating expenses
Total operating expenses		135,815			145,937			403,568			386,377
Compensation expenses - related party		274,000			125,000
Net loss from operations		(135,176	)		(145,298	)		(401,650	)		(384,459	)
General and administration expenses		54,145			11,874
Other Expense
Total operating expenses		328,145			136,874
Interest expense		(3,825	)		(17,512	)		(6,892	)		(20,074	)
Net loss from operations		(327,506	)		(136,235	)
Total other expense		(3,825	)		(17,512	)		(6,892	)		(20,074	)
Other Income (Expense)
Net loss before taxes		(139,001	)		(162,810	)		(408,542	)		(404,533	)
Interest expense		(8,790	)		(6,384	)
Income tax benefit		—			—			—			—
Loss on settlement of debt		(142,150	)		-
Net loss	$	(139,001	)	$	(162,810	)	$	(408,542	)	$	(404,533	)
Total other expense		(150,940	)		(6,384	)
Basic and diluted loss per common share	$	(0.03	)	$	(0.03	)	$	(0.08	)	$	(0.08	)
Net loss before taxes		(478,446	)		(142,619	)
Weighted average number of common shares outstanding, basic and diluted		5,131,612			5,131,612			5,131,612			5,131,612
Income tax benefit		-			-
Net loss	$	(478,446	)	$	(142,619	)
Basic and diluted loss per common share	$	(0.02	)	$	(0.03	)
Weighted average number of common shares outstanding, basic and diluted		24,940,678			5,131,612

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

5 Table of Contents

~~Team 360~~Crank ~~Sport~~Media, Inc.

Statement of Stockholders’ Deficit

(Unaudited)

For the Three ~~and Nine~~ Months ended ~~September~~March 3031, ~~2020~~ 2021

							Additional		~~Additional~~Stock					Total
		Common Stock			~~Common Stock~~		Paid in		~~Paid in~~Subscriptions		Accumulated			Stockholders’
		Shares			~~Shares~~Amount		~~Amount~~Capital		~~Capital~~Payable		Deficit			~~Total~~Deficit
	Balance, December 31, 2019					5,131,612	$	5,132	$	1,345,600	$	(2,188,337	)	$(837,605)
Balance, December 31, 2020			5,756,612		$	5,757	$	2,119,975	$	-	$	(2,617,971	)	$	(492,239	)
				Net loss for the period		—		—		—		(142,619	)	(142,619)
Common stock issued for settlement of convertible note -related party			20,000,000			20,000		84,764		-		-			104,764
	Balance, March 31, 2020					5,131,612		5,132		1,345,600		(2,330,956	)	(980,224)
Common stock issued for settlement of debt			350,000			350		349,650		-		-			350,000
				Forgiveness of related party debt		—		—		587,500		—		587,500
Common stock issuance for operating expenses- related party			12,500,000			12,500		237,500		-		-			250,000
				Net loss for the period		—		—		—		(126,922	)	(126,922)
Common stock issuance as share inducement for settlement of debt			1,500,000			1,500		28,500		-		-			30,000
	Balance, June 30, 2020					5,131,612		5,132		1,933,100		(2,457,878	)	(519,646)
Common stock subscription for financing fee associated with promissory note			-			-		-		3,000		-			3,000
				Forgiveness of related party debt		—		—		125,000		—		125,000
Net loss for the period			-			-		-		-		(478,446	)		(478,446	)
				Net loss for the period		—		—		—		(139,001	)	(139,001)
Balance, March 31, 2021			40,106,612		$	40,107	$	2,820,389	$	3,000	$	(3,096,417	)	$	(232,921	)
	Balance, September 30, 2020					5,131,612	$	5,132	$	2,058,100	$	(2,596,879	)	$(533,647)

For the Three ~~and Nine~~ Months ended ~~September~~March 3031, ~~2019~~2020

								Additional		~~Additional~~					Total
		Common Stock		~~Common Stock~~				Paid in		~~Paid in~~	Accumulated			~~Accumulated~~	Stockholders’
		Shares		~~Shares~~	Amount		~~Amount~~	Capital		~~Capital~~	Deficit			~~Deficit~~	Deficit			~~Total~~
	Balance, December 31, 2018				5,131,612		$	5,132		$	783,100			$	(1,298,450	)		$(510,218)
Balance, December 31, 2019			5,131,612		$	5,132		$	1,345,600		$	(2,188,337	)		$	(837,605	)
Net loss for the period			~~Net loss for the period~~-		—	-		—	-		—	(142,619	)		~~(119,860~~	)(142,619	)	~~(119,860)~~
	Balance, March 31, 2019				5,131,612			5,132			783,100				(1,418,310	)		(630,078)
Balance, March 31, 2020			5,131,612		$	5,132		$	1,345,600		$	(2,330,956	)		$	(980,224	)
			Forgiveness of related party debt		—			—			562,500				—			562,500
			Net loss for the period		—			—			—				(121,863	)		(121,863)
	Balance, June 30, 2019				5,131,612			5,132			1,345,600				(1,540,173	)		(189,441)
			Net loss for the period		—			—			—				(162,810	)		(162,810)
	Balance, September 30, 2019				5,131,612		$	5,132		$	1,345,600			$	(1,702,983	)		$(352,251)

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

6 Table of Contents

~~Team 360~~Crank ~~Sports~~Media, Inc.

Statements of Cash Flows

(Unaudited)

		For the Nine Months Ended September 30,
	For the
		2020			2019
	Three Months Ended
	March 31,
	2021			2020
Cash Flows From Operating Activities:
Net loss	$	(~~408~~478,~~542~~446	)	$	(~~404~~142,~~533~~619	)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of discount on convertible note		~~695~~-			~~11,519~~695
Loss on settlement of debt		142,150			-
Common stock issued for debt - related party		250,000			-
Debt discount -note payable		8,550			-
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities		454,~~288~~027			73,~~474~~789
Accrued compensation - related party		~~375~~24,000			~~337~~125,~~500~~000
Due to related party		7,500			—
Deferred revenue		(639	)		(639	)
Deferred revenue		(1,918	)		(1,918	)
Net Cash Used In Operating Activities		(358	)		(13,774	)
Net Cash Used In Operating Activities		(22,977	)		(49,958	)
Cash Flows From Financing Activities:
Proceeds from loans		~~23,121~~-			4913,~~958~~774
Net Cash Provided by Financing Activities		~~23,121~~-			4913,~~958~~774
Net change in cash		144			—
Net change in cash and cash equivalents		(358	)		-
Cash, beginning of period		214			214
Cash , beginning of period		358			214
Cash, end of period	$	~~358~~-		$	214
Supplemental Cash Flow Information:
Cash paid for interest	$	—-		$	—-
Cash paid for taxes	$	—-		$	—-
Supplemental Disclosure of Non-Cash Financing Activity
Forgiveness of related party debt	$	712,500		$	562,500
Common stock issued for settlement of convertible note -related party	$	104,764		$	-
Debt issuance costs recorded as debt discount	$	—		$	25,000
Common stock issued for settlement of debt	$	350,000		$	-
Issuance of convertible note payable for loan payable and accrued interest	$	—		$	66,240

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

7 Table of Contents

~~Team 360~~Crank ~~Sports~~Media, Inc.

Notes to Unaudited Financial Statements

~~September~~March 3031, ~~2020~~ 2021

~~NOTE~~Note 1 – ~~ORGANIZATION,~~Going ~~DESCRIPTION OF BUSINESS AND GOING CONCERN~~Concern

Organization

The Company incorporated in the State of Nevada on February 26, 2013. Effective April 4, 2016, the Company changed its name to Team 360 Sports Inc. The Company will provide amateur sports clubs, leagues and teams with easy to use robust digital administration management systems.

Going Concern and Liquidity Considerations

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has had minimal revenue and has accumulated a deficit of $23,~~596~~096,~~879~~417 as of ~~September~~March 3031, ~~2020~~ 2021. The Company requires capital for its contemplated operational and marketing activities. The Company’s ability to raise additional capital through the future issuances of common stock is unknown. The obtainment of additional financing, the successful development of the Company’s contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. These conditions and the ability to successfully resolve these factors raise substantial doubt about the Company’s ability to continue as a going concern within one year from the date these financial statements are issued. The financial statements of the Company do not include any adjustments that may result from the outcome of these uncertainties.

The Company has discussed ways in order to mitigate conditions or events that may raise substantial doubt about its ability to continue as a going concern, there are no assurances that any of these measures will successfully mitigate or be effective at all. (1) The Company shall pursue financing plans to raise funds to ~~judiciously~~ spend towards operational expenses, (2) The Company shall continue to employ low cost measures to operate its business and analyze any unnecessary cost or expense, (3) The Company will seek to avoid unnecessary expenditures, travel, and lodging costs that are not mission critical to its business, (4) The Company shall seek to continuously maximize its assets and business licensing strategies to increase revenue as well as to gain new customers.

COVID-19

A novel strain of coronavirus (COVID-19) was first identified in December 2019, and subsequently declared a global pandemic by the World Health Organization on March 11, 2020. As a result of the outbreak, many companies have experienced disruptions in their operations and in markets served. The Company has instituted some and may take additional temporary precautionary measures intended to help ensure the well-being of its managers and minimize business disruption. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that ~~there~~the ~~were~~primary ~~no material~~ adverse ~~impacts~~impact on the Company’s results of operations and financial position at ~~September~~March 3031, ~~2020~~ 2021 has been a slowdown in the Company’s film and television production activities. The full extent of the future impacts of COVID-19 on the Company’s operations is uncertain. A prolonged outbreak could have a material adverse impact on financial results and business operations of the Company, including the timing and ability of the Company to obtain financing to fund the operation and to develop its business plan

~~NOTE~~Note 2 – ~~SUMMARY~~Summary OFOf ~~SIGNIFICANT~~Significant ~~ACCOUNTING~~Accounting ~~POLICIES~~Policies

Basis of Presentation

The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of ~~September~~March 3031, ~~2020~~ 2021, and the results of operations and cash flows for the periods presented. The results of operations for the period ended ~~September~~ 30March 31, ~~2020~~2021, are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, ~~2019~~2020, filed with the SEC on April 15, ~~2020~~2021.

8 Table of Contents

Revenue Recognition

The Company records revenue in accordance with FASB Accounting Standards Codification (“ASC”) as topic 606 (“ASC 606”). The revenue recognition standard in ASC 606 outlines a single comprehensive model for recognizing revenue as performance obligations, defined in a contract with a customer as goods or services transferred to the customer in exchange for consideration, are satisfied. The standard also requires expanded disclosures regarding the Company’s revenue recognition policies and significant judgments employed in the determination of revenue.

On November 1, 2016, the Company entered into a Licensing Agreement. The agreement grants the Licensee rights to grant sublicenses to third parties. The license agreement calls for a one-time nonrefundable fee of $10,000 and a $3,000 set up and training fee. The license agreement also calls for a five percent (5%) royalty on further sales by licensees, but no royalty fees have been received to date. All fees and royalty payments are to be recognized over the life of the agreement, which terminates on December 1, 2021.

The setup and training services are essential in allowing the licensee the ability to license the software to third parties. As a result, the license and set up and training fees are not distinct from one another and constitute a single performance obligation under the contract. Therefore, the onetime nonrefundable fee and the set up and training fees are being recognized over time.

The Company recognized $~~1,918~~639 and $~~1,918~~639 of revenue during the ~~nine~~three months ended ~~September~~March 3031, ~~2020~~2021, and ~~2019~~2020, respectively. As of ~~September~~March 3031, ~~2020~~2021, and December 31, ~~2019~~2020, there was deferred revenue of $21,~~984~~706 and $42,~~902~~345, respectively.

Earnings (loss) per share

Basic earnings (loss) per share calculations are determined by dividing net income (loss) by the weighted average number of shares outstanding during each period. Diluted earnings (loss) per share calculations are determined by dividing net income (loss) by the weighted average number of shares. For the ~~nine~~ three months ended ~~September~~March 3031, ~~2020~~2021, the Company ~~had~~did ~~$350,000~~not inhave any liabilities to be settled in stock and ~~$102,464 in~~ convertible debt and accrued interest,. ~~representing~~For ~~350,000 and 20,492,754 shares of common stock not yet issued, respectively, and for~~ the ~~nine~~ three months ended ~~September~~March 3031, ~~2019~~2020, the Company had $~~225~~350,000 in liabilities to be settled in stock ~~and~~, $9397,~~315~~890 in convertible debt and accrued interest and promissory note commitment in stock , representing ~~225~~350,000 ~~and~~, 1819,~~662~~578,~~955~~000 and 150,000 shares of common stock not yet issued, which are potentially dilutive. Since the Company has incurred losses for all periods, the impact of the common stock equivalents would be anti- dilutive and therefore are not included in the calculation.

~~NOTE~~Fair 3Value ~~– LOAN PAYABLE~~Measurements

~~The~~As ~~loan~~defined ~~payable~~in ASC 820” Fair Value Measurements,” fair value is ~~cash~~the ~~payment for~~price ~~settlement~~that ofwould ~~vendors’~~be ~~invoices~~received onto ~~behalf~~sell ofan ~~the~~asset ~~Company,~~or atpaid to transfer a liability in an ~~interest~~orderly ~~rate~~transaction ofbetween ~~10%~~market ~~per~~participants ~~annum~~at ~~and~~the ~~matures~~measurement ondate ~~demand~~(exit price). On ~~July~~The 6,Company ~~2019,~~utilizes ~~the~~market ~~holder~~data ofor ~~this~~assumptions ~~note~~that ~~demanded~~market ~~payment~~participants onwould use in pricing the ~~outstanding~~asset ~~principle~~or ~~and~~liability, ~~interest~~including ofassumptions about risk and the ~~loan~~risks inherent in the ~~amount~~inputs ~~of $66,240~~to the valuation technique. OnThese ~~July~~inputs 8can be readily observable, ~~2019~~market corroborated, or generally unobservable. The Company classifies fair value balances based on the ~~holder~~observability of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the ~~note~~inputs ~~agreed~~used to ~~refinance~~measure fair value. The hierarchy gives the ~~outstanding~~highest ~~amount~~priority ~~into~~to aunadjusted ~~convertible~~quoted ~~note~~prices in active markets for identical assets or liabilities (~~see~~level ~~Note~~1 4measurement) and the lowest priority to unobservable inputs (level 3 measurement).

~~During~~The ~~the~~Company’s ~~nine~~financial ~~months~~instruments ~~ended~~consist ~~September 30,~~of ~~2020~~cash, ~~the~~accounts ~~total~~payable ofand ~~$24~~accrued liabilities,~~458~~ ~~was~~deferred ~~paid~~revenue, toloan ~~vendors~~payable, onand ~~behalf~~due ofto ~~the~~related ~~Company~~parties. The ~~total~~carrying ~~outstanding~~amounts ~~balance as~~ of ~~September~~these ~~30, 2020~~financial ~~and~~instruments ~~December~~approximate ~~31,~~fair ~~2019~~value ~~was~~due ~~$67,059~~to ~~and~~either ~~$38,757,~~length ~~which included $61,878 and $37,420~~ of ~~principal~~maturity ~~and~~or ~~$5,181 and $1,337 in accrued~~ interest, ~~respectively.~~rates ~~For~~that ~~the~~approximate ~~nine~~prevailing ~~months~~rates ~~ended~~unless ~~September~~otherwise ~~30,~~disclosed ~~2020~~in ~~and~~these ~~2019,~~financial ~~the Company recorded $3,844 and $1,770 of interest expense, respectively~~statements.

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~~NOTE~~Note 43 – ~~CONVERTIBLE~~Liability ~~NOTE~~to ~~PAYABLE~~be Settled In Stock

On October 31, 2019, the Company acquired the rights to four domain names from a third party. The cost to acquire the domain names was 350,000 shares of common stock valued at $1.00 per share for a total value of $350,000. During the period ended March 31, 2021, the Company settled this commitment by issuing 350,000 shares of common stock.

Note 4 – Loan Payable – Related party

On March 1, 2021, the Company and chief executive officer entered into an agreement with a note holder, for settlement of the outstanding balance of principal and accrued interest as of December 31, 2020. According to the agreement and approval of the board of directors, the outstanding balance of a $91,240 face amount convertible note and a loan totaling $21,849 were settled in exchange with issuance of a new promissory note of $134,000 and issuance of 1,500,000 shares of common stock valued for $30,000. The Company’s Chief Executive Officer as purchaser of the convertible note of $91,240 and accrued interest payable of $13,523, converted the note into 20,000,000 shares of common stock.

In conjunction with settlement of liability by issuance new promissory note of 134,000 (Note 6) and issuance of 15,000,000 shares of common stock, the Company recognized $142,150 loss on settlement of debt during the three months ended March 31, 2021.

The loan payable was cash paid for settlement of vendors’ invoices on behalf of the Company, at an interest rate of 10% per annum and matures on demand. During the three months ended March 31, 2021 and 2020, the total of $0 and $13,774 was paid to vendors on behalf of the Company, respectively. For the three months ended March 31, 2021, and 2020, the Company recorded $0 and $2,414 of interest expense, respectively. The outstanding balance as of March 31, 2021, and December 31, 2020, was $0 and $21,849, which included $0 and $16,203 of principal and $0 and $5,646 in accrued interest, respectively.

Note 5 – Convertible Note Payable – Related Party

On July 9, 2019, the Company entered into a convertible note agreement with the holder of the promissory note, whereby the holder agreed to refinance for an aggregate principal amount of $66,240 and $25,000 for administrative and consulting fees for a total note amount of $91,240.

The note earns an interest rate equal to 10% per annum and matures on January 1, 2021. The Company recorded a debt discount of $25,000 as result of the original issue discount. The note is convertible at fixed rate of $0.005 of common stock. Because of the fixed nature of the conversion the Company determined that there was no beneficial conversion feature which would have qualified it for derivative accounting under ASC 815-15, “ ”Derivatives and Hedging.”

~~For~~On ~~the~~January ~~nine~~12, ~~months ended September 30~~2021, ~~2020~~pursuant ~~and~~to ~~2019,~~a ~~the~~general ~~Company~~agreement ~~recorded~~dated ~~$695~~December ~~and $11~~21,~~519,~~ ~~respectively~~2020, inthe ~~amortization~~Company’s ofPresident, ~~the~~Chief ~~debt~~Executive ~~discount~~Officer, onChief ~~the~~Financial ~~note.~~Officer ~~The~~purchased ~~total~~ the outstanding balance as of ~~September~~the ~~30,~~note ~~2020~~ and ~~December~~accrued ~~31,~~interest ~~2019,~~totaling ~~was~~ $~~102~~104,~~464~~764 ~~and~~from ~~$99,416,~~note ~~which~~holder. ~~included~~On ~~$11~~March 1,~~224~~ ~~and $8~~2021,~~871 in~~ ~~accrued~~the ~~interest~~Company’s ~~and~~Board ~~unamortized debt discount~~ of $0directors ~~and~~approved ~~$695,~~issuance ~~respectively.~~of ~~For the nine months ended September 30~~20, ~~2020 and 2019~~000,000 ~~the~~shares ~~Company recorded interest expense~~ of ~~$2,353~~common ~~and~~stock ~~$4,207,~~(pursuant ~~respectively.~~to ~~For~~ the ~~nine~~original ~~months~~conversion ~~ended~~terms ~~September~~of ~~30,~~the ~~2020,~~note) ~~the Company~~for ~~recorded~~settlement aof ~~recovery~~convertible onnote ~~interest~~outstanding ~~expense~~balance of $3104,~~317,~~764 to ~~reconcile~~the ~~accrued~~Company’s ~~interest to actual~~officer.

~~NOTE~~For 5the –three ~~RELATED~~months ~~PARTY~~ended ~~TRANSACTIONS~~March 31, 2021, and 2020, the Company recorded $0 and $695 amortization of the debt discount on the note, respectively. For the three months ended March 31, 2021, and 2020, the Company recorded interest expense of $0 and $4,613, respectively.

OnAs ~~January~~of 1,March ~~2020~~31, ~~the Company amended the January 1~~2021, ~~2015 Executive~~ and ~~Consulting~~December ~~Agreement with Sandor Miklos~~31, ~~President~~2020, ~~and~~the ~~member~~Company ofhad ~~the~~convertible ~~Board~~note of ~~Directors~~$0 ~~for services~~and ~~rendered. The amended agreement calls for annual compensation of 500~~$91,~~000~~240 ~~shares of the Company’s common stock fully earned immediately to be assigned~~ and ~~registered~~accrued ~~fully~~interest ~~as at the end~~ of ~~the fiscal year. In 2019, the compensation was 450,000 shares annually. For the nine months ended September 30, 2020, 375,000 shares valued at~~ $~~1.00~~0 ~~per~~and ~~share for a total of~~ $~~375~~13,~~000 was~~524, ~~accrued as compensation for Sandor Miklos~~respectively.

On10 ~~June~~Table ~~30, 2020, Sandor Miklos forgave accrued stock compensation owed to him valued at $587,500, which represents the compensation for the nine months~~ of year 2019 ($337,500) and the six months ended June 30, 2020 ($250,000). On September 30, 2020, Sandor Miklos forgave accrued stock compensation owed to him valued at $125,000, which represents the compensation for the three months ended September 30, 2020.Contents

OnNOTE ~~November~~6 ~~20,~~– ~~2018,~~PROMISSORY ~~the~~NOTE Company received a loan payable in the amount of $2,781 from a more than 5% shareholder for the payment of Company expenses. This loan is unsecured, non-interest bearing, and has no specific terms for repayment. As of September 30, 2020, and December 31, 2019, the Company had a loan payable of $2,781 to the same party.PAYABLE

On ~~August~~February 3126, ~~2020~~2021, the Company ~~received~~ issued a ~~service~~promissory innote ~~the amount~~ of $7134,~~500 from a more than 5% shareholder for updates to the Company’s website~~000. AsThe ofnote ~~September 30,~~shall ~~2020,~~be ~~the~~due ~~Company~~and ~~owed~~payable ~~this~~as ~~person $7,500.~~follows:

~~NOTE~~(i) 6$54,667 –on ~~SUBSEQUENT~~or ~~EVENTS~~before March 15, 2021 (outstanding) (ii) $39,667 on or before April 15, 2021 (outstanding) (iii) $39,666 on or before May 15, 2021 (outstanding)

The Company’s ~~management~~President, ~~evaluated~~Chief ~~subsequent~~Executive ~~events~~Officer, ~~through~~Chief Financial Officer guaranteed the note personally. Note is interest free, with a default rate from maturity date of 10% per annum. As of March 31, 2021, the ~~financial~~first ~~statements~~obligation ~~were~~of ~~issued~~$54,667 was not paid and ~~there~~it ~~were~~was ~~no subsequent~~in ~~events~~default. toDuring ~~report~~the three months ended March 31, 2021, the Company recorded $240 default interest.

10As of March 31, 2021, the outstanding balance of promissory note and accrued interest were $134,000 and 240, respectively.

(ii) On January 4, 2021, the Company issued a promissory note of $17,000 for a cash loan advanced to a related party The note shall be due on or after February 5, 2021. The note shall bear interest from January 1, 2022 at the rate of 5% per annum. There shall be no interest accruing during 2021. The note was in default on March 31, 2021 and no default interest applicable.

(ii) On March 31, 2021, the Company issued a promissory note of $7,928 (CAD10,000) for a cash loan advanced to a related party. The note is interest free and shall be due on April 7, 2021 in amount of $13,478 (CAD17,000) and issuance of $3,000 worth of common stock at conversion price of $0.02 per share. The Company recorded common stock payable of $3,000, interest expense of $8,550for finance cost of $3,000 and amortized debt discount of $5,550.

NOTE 7 – RELATED PARTY TRANSACTIONS

Compensation

	(i)	On January 1, 2020, the Company amended the January 1, 2015, Executive and Consulting Agreement with Sandor Miklos, former President, and member of the Board of Directors for services rendered. The amended agreement calls for annual compensation of 500,000 shares of the Company’s common stock. For three months ended March 31, 2020, 125,000 shares valued at $1.00 per share for a total of $125,000 was accrued as compensation for Sandor Miklos.

		On June 30, 2020, Sandor Miklos forgave accrued stock compensation owed to him valued at $587,500 which represents the compensation for the nine months of year 2019 ($337,500) and the six months ended June 30, 2020 ($250,000). As reported in the Company’s Form 10-Q for the nine months ended September 30, 2020, Mr. Miklos also forgave stock compensation of 125,000 shares for the three months ended September 30, 2020. During the three months ended March 31, 2021, the Company issued 125,000 shares valued at $.10 per share to Mr. Miklos for management fees for the fourth quarter of 2020. This Executive and Consulting Agreement ended as of December 31, 2020.

	(ii)	During the three months ended March 31, 2021, the Company accrued $24,000 officers’ salary.

	(iii)	As of March 31, 2021, and December 31, 2020, the outstanding compensation payable to officers were $24,000 and $0, respectively.

	(iv)	During the three months ended March 31,2021, the Company financed a related party for amount of $24,928 by issuance two notes payable of $17,000 and $7,928 (CAD 10,000), see Note 6. As of March 31,2021 , the outstanding receivable from related party was $24,928.

Due to related party

(i)

On November 20, 2018, the Company received a loan payable in the amount of $2,781 from a more than 5% shareholder for the payment of Company expenses. This loan is unsecured, non-interest bearing, and has no specific terms for repayment. During the year ended December 31, 2020, the Company received services in the amounts of $9,669 from same shareholder for updates to the Company’s website recorded as due to related party. As of March 31, 2021 and December 31, 2020, the Company’s outstanding payable of $12,450 was to the same party, respectively.

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NOTE 8 - EQUITY

The Company has authorized 100,000,000 common shares with a par value of $0.001 per share. Each common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought.

During the three months ended March 31, 2021, the Company issued the following shares of common stock:

	(i)	350,000 shares of common stock to settle stock payable liability (see Note 3).
	(ii)	20,000,000 shares of common stock for settlement of convertible note and accrued interest (pursuant to the original conversion terms of the convertible note) – related party of $104,764 (Note 5).
	(iii)	1,500,000 shares of common stock to our related party at $0.02 per share for $30,000 in conjunction with a new promissory note – related party to settle loan payable – related party. The price per share was determined based on the price per share paid by unrelated third-party investors at approximately the same time.
	(iv)	12,500,000 shares of common stock at $0.02 per share for a total reduction of $250,000 as compensation to an officer of the Company.

As of March 31, 2021, and December 31, 2020, the Company had 40,106,612 and 5,756,612 common shares issued and outstanding, respectively.

NOTE 9 – SUBSEQUENT EVENTS

In May 2021, the Company received a payment for music recordings distribution in the amount of approximately $392,000 for the account of the Company and an additional approximately $392,000 to be paid to the artists who made the recordings.

The Company issued 350,000shares for services.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

FORWARD-LOOKING STATEMENTS

This Report on Form 10-Q contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Reference is made in particular to the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking statements included in this report. Such statements may be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “believe,” “estimate,” “anticipate,” “intend,” “continue,” or similar terms, variations of such terms or the negative of such terms. Such statements are based on management’s current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. Such statements address future events and conditions concerning, among others, capital expenditures, earnings, litigation, regulatory matters, liquidity and capital resources, and accounting matters. Actual results in each case could differ materially from those anticipated in such statements by reason of factors such as future economic conditions, changes in consumer demand, legislative, regulatory and competitive developments in markets in which we operate, results of litigation, and other circumstances affecting anticipated revenues and costs, and the risk factors set forth in the financial statements and related notes included on the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed on April 15, ~~2020~~2021.

As used in this Form 10-Q, “we,” “us,” and “our” refer to ~~Team~~Crank ~~360~~Media ~~Sports~~ Inc., which is also sometimes referred to as the “Company.”

General Overview

We were incorporated in Nevada on February 26, 2013, and on April 4, 2016, amended the Articles of Incorporation to change the name of the ~~company~~Company to Team 360 Sports Inc~~. The~~, ~~Company~~on ~~provides~~April ~~amateur~~4, ~~sports clubs~~2016, ~~leagues~~ and ~~teams~~then ~~with easy~~ to ~~use~~Crank ~~robust~~Media ~~digital~~Inc, ~~administration~~on ~~management~~December ~~systems~~22, 2020.

The Company has ~~had~~its ~~minimal~~Nevada ~~revenues~~registered asoffice ~~the Company~~at ~~has~~711 ~~been~~S. ~~developing~~Carson ~~its~~Street, ~~technology~~Suite ~~and~~4, ~~platform~~Carson City, Nevada 89701. The ~~trend~~Company’s inmain ~~the~~phone ~~marketplace~~number is to604-558-2515. ~~provide~~Its ~~services~~principal tooperations ~~teams~~are ~~versus~~conducted ~~large organizations~~from ~~such~~its asoffice ~~leagues~~at ~~and~~1720 ~~clubs.~~- ~~The~~650 ~~Company~~West isGeorgia ~~planning~~Street, toVancouver, ~~move~~British ~~into~~Columbia, ~~that~~Canada ~~marketplace,~~V6B ~~however~~4N8. ~~there~~The ~~can~~Company’s bewebsite noon ~~assurances that~~the itInternet ~~will~~at ~~succeed~~www.crankmedia.ca.

The Company’s ~~fiscal~~primary ~~year~~business ~~end~~activities are related to (i) the planning and development for the production and distribution of music recordings, with four different music recording artists currently under contract, (ii) the planning and development of the production and distribution of movies, with two films currently in pre-production and two other film scripts currently being completed, and (iii) the planning and development of the production and distribution of television shows, with two shows currently in pre-production, one show in the phase of having the rights to certain of its episodes being marketed, and a fourth show in a very preliminary stage of development. The Company also is ~~December 31~~attempting to develop and build its virtual studio, and also intends to further develop its easy to use platform digital administration management systems for amateur sport s clubs, leagues and teams.

At March 31, 2021, the Company has had minimal revenues as the activities described above are primarily in planning and development stages. The Company’s fiscal-year end is December 31.

COVID-19

A novel strain of coronavirus (COVID-19) was first identified in December 2019, and subsequently declared a global pandemic by the World Health Organization on March 11, 2020. As a result of the outbreak, many companies have experienced disruptions in their operations and in markets served. The ~~Company considered~~primary ~~the~~adverse impact of COVID-19 on the ~~assumptions~~Company’s ~~and~~results ~~estimates~~of ~~used~~operations and ~~determined~~financial ~~that~~position ~~there~~as ~~were~~of noMarch ~~material~~31, ~~adverse~~2021 ~~impacts on~~has been a slowdown in the Company’s ~~results~~film ~~of operations~~ and ~~financial~~television ~~position~~production ~~as of September 30, 2020~~activities. The full extent of the future impacts of COVID-19 on the Company’s plan of operations is uncertain. A prolonged outbreak could have a material adverse impact on the Company’s ability to ~~identify~~pursue ~~and/or~~its ~~consummate~~business anplan ~~acceptable~~in ~~merger~~the ormanner ~~acquisition~~and ~~transaction~~timing anticipated.

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Results of Operations

The following discussion and analysis should be read in conjunction with ~~our~~the ~~company~~Company’s unaudited financial statements for the ~~nine~~three months ended ~~September~~March 3031, ~~2020~~ 2021, and ~~2019~~2020, and accompanying notes appended thereto that are included in this quarterly report.

For the Three Months Ended ~~September~~ 30March 31, ~~2020~~2021 and ~~2019~~2020

Our operating results for the three months ended ~~September~~March 3031, ~~2020~~2021 and ~~2019~~2020, are as follows:

	Three Months Ended
	September 30,
	March 31,
	2020		2019		Changes ($)
	2021		2020		Changes ($)
Revenues	$	639	$	639	$	—-
Operating expenses	$	~~135~~328,~~815~~145	$	~~145~~136,~~937~~874	$	~~(10~~191,~~122~~271	)
Interest expense	$	38,~~825~~790	$	176,~~512~~384	$	~~(13~~2,~~687~~406	)
Net loss	$	139,001	$	162,810	$	(23,809	)
Loss on settlement of debt	$	142,150	$	-	$	142,150
Net loss	$	478,446	$	142,619	$	193,677

11Revenues are related to the Licensing Agreement dated November 1, 2016. The onetime nonrefundable fee and the set up and training fees are being recognized over the life of the agreement, which terminates on December 1, 2021.

Revenues are related to the Licensing Agreement dated November 1, 2016. The onetime nonrefundable fee and the set up and training fees are being recognized over the life of agreement, which terminates on December 1, 2021.

Operating Expenses

For the three months ended ~~September 30~~March 31, ~~2020~~2021, operating expenses were $~~125~~274,000 for related party compensation expenses, and $254,~~506~~145 for ~~professional~~general ~~fees,~~ and ~~$8,309~~administration ~~for office~~ expenses.

For the three months ended ~~September 30~~March 31, ~~2019~~2020, operating expenses were $~~112~~125,~~500~~000 for related party compensation expenses, and $2711,~~787~~874 for ~~professional~~general ~~fees,~~ and ~~$5,650~~administration ~~for office~~ expenses.

Other Expenses

For the three months ended ~~September 30~~March 31, ~~2020~~2021, and ~~2019~~2020, other expenses were $~~3,825~~240 and $5,~~993~~689 for interest on loans, respectively and $08,550 for finance cost of note payable and $~~11,519~~695 for amortization discount on convertible note, respectively.

For ~~the~~three ~~Nine~~months ~~Months~~ended ~~Ended September~~March 3031, 2021 and 2020, other expenses were $142,150 and ~~2019~~$0 for loss on settlement of debt, respectively.

Our operating results for the nine months ended September 30, 2020 and 2019, are as follows:

	Nine Months Ended
	September 30,
	2020		2019		Changes ($)
Revenues	$	1,918	$	1,918	$	—
Operating expenses	$	403,568	$	386,377	$	17,191
Interest expense	$	6,892	$	20,074	$	(13,182	)
Net loss	$	408,542	$	404,533	$	4,009

Revenues is related to Licensing Agreement dated November 1, 2016. The onetime nonrefundable fee and the set up and training fees are being recognized over the life of agreement, which terminates on December 1, 2021.

Operating Expenses

For the nine months ended September 30, 2020, operating expenses were $375,000 for related party compensation expenses, $17,736 for professional fees, and $10,832 for office expenses.

For the nine months ended September 30, 2019, operating expenses were $337,500 for related party compensation expenses, $40,666 for professional fees, and $8,211 for office expenses.

Other Expenses

For the nine months ended September 30, 2020 and 2019, other expenses were $6,197 and $8,555 for interest on loans, respectively and $695 and $11,519 for amortization discount on convertible note, respectively. During the nine months period ended September 30, 2020, the Company recognized a recovery on interest expense, to reconcile accrued interest to actual.

Liquidity and Capital Resources

The following table provides selected financial data about ~~our~~the ~~company~~Company as of ~~September~~March 3031, ~~2020~~2021 and December 31, ~~2019~~2020, respectively:

Working Capital

	September 30			December 31,
	March 31,			December 31,
	2020			2019
	2021			2020
Cash	$	~~358~~-		$	~~214~~358
Current Assets	$	~~358~~24,928		$	~~214~~358
Current Liabilities	$	~~534~~257,~~005~~849		$	~~837~~492,~~819~~597
Working Capital (Deficiency)	$	(~~533~~257,~~647~~849	)	$	(~~837~~492,~~605~~239	)

Cash Flows

	Nine Months Ended
	Three Months Ended
	September 30,
	March 31,
	2020			2019			Changes ($)
	2021			2020			Changes ($)
Cash Flows used in Operating Activities	$	(~~22,977~~358	)	$	(4913,~~958~~774	)	$	2613,~~981~~416
Cash Flows provided by Financing Activities	$	~~23,121~~-		$	4913,~~958~~774		$	(2613,~~837~~774	)
Net Change in Cash During Period	$	~~144~~(358	)	$	—-		$	~~144~~(358	)

As14 Table of ~~September 30, 2020, and December 31, 2019, our current assets were $358 and $214, respectively, solely from cash.~~Contents

As of ~~September~~March 3031, ~~2020~~2021, ~~our current liabilities~~ and ~~working~~December ~~capital~~31, ~~deficiency~~2020, ~~decreased~~our ascurrent ~~compared~~assets towere ~~December~~$24,928 31and $358, ~~2019~~respectively, ~~primarily~~ from ~~the~~solely ~~forgiveness of related party debt~~cash.

As of ~~September~~March 3031, ~~2020~~2021, our current ~~liabilities~~ ~~consisted primarily of $350,000 to~~ liabilities toand beworking ~~settled~~capital indeficiency ~~stock,~~decreased ~~$91,240~~as tocompared ~~convertible notes payable, $61,878~~ to ~~loan~~December ~~payable~~31, ~~$10~~2020,~~281~~ ~~due~~primarily tofrom ~~related~~settlement ~~party,~~of ~~$17,622~~domain tonames ~~accounts payable and accrued~~ liabilities ~~and $2,984 to deferred revenue~~.

As of ~~December~~March 31, ~~2019~~2021, ~~our~~ current liabilities consisted primarily of $~~350~~164,~~000~~478 to ~~liabilities~~promissory tonote ~~be settled in stock, $337,500 to accrued related party compensation, $90,545 to convertible notes, $38,757 to loan~~ payable, $212,~~781~~450 due to related party, $1379,~~334~~215 to accounts payable and accrued liabilities and $41,~~902~~706 to deferred revenue.

As of December 31, 2020, our current liabilities consisted primarily of $350,000 to liabilities to be settled in stock, $90,240 to convertible notes, $21,849 to loan payable, $12,450 due to related party, $14,713 to accounts payable and

Operating Activities

During the ~~nine~~three months ended ~~September~~March 3031, ~~2020~~2021, net cash used in operating activities was $22358,~~977,~~ compared to $4913,~~958~~774 for the ~~nine~~three months ended ~~September~~March 3031, ~~2019~~2020.

The net cash used in operating activities for the ~~nine~~three months ended ~~September~~March 3031, ~~2020~~2021, was attributed to a net loss of $~~408~~478,~~542~~446, decreased by an accrued related party compensation of $~~375~~24,000 for officers’ salary, ~~amortization~~loss of ~~discount~~settlement onof ~~convertible~~debts ~~note~~of $142,150, stock issued for debt to related party of $~~695~~250,000, of $7,928 and decreased by a change in accounts payable and accrued liabilities of ~~$4,288 and due to related party~~ of $754,~~500,~~027 and increased by a change in deferred revenue of $~~1,918~~639.

The net cash used in operating activities for the ~~nine~~three months ended ~~September~~March 3031,2020, ~~2019~~ was attributed to a net loss of $~~404~~142,~~533~~619, decreased by an accrued related party compensation of $~~337~~125,~~500~~000, amortization of discount on convertible note of $11695,~~519,~~ decreased by a change in accounts payable and accrued liabilities of $73,~~474~~789 and increased by a deferred revenue of $~~1,918~~639.

Investing Activities

The Company did not use any funds for investing activities during the ~~nine~~three months ended ~~September~~March 3031, ~~2020~~2021, and ~~2019~~2020.

Financing Activities

During the ~~nine~~three months ended ~~September~~March 3031, ~~2020~~2021, net cash provided by financing activities was $230,~~121,~~ compared to $4913,~~958~~774 for the ~~nine~~ three months ended ~~September~~March 3031, ~~2019~~2020, from loans.

Off-Balance Sheet Arrangements

As of ~~September~~March 3031, ~~2020~~2021, the Company had no material off-balance sheet arrangements.

Critical Accounting Policies and Estimates

The preparation of financial statements and related disclosures in conformity with U.S. generally accepted accounting principles and the Company’s discussion and analysis of its financial condition and operating results require the Company’s management to make judgments, assumptions and estimates that affect the amounts reported. Management bases its estimates on historical experience and on various other assumptions it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ from these estimates, and such differences may be material.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

Not applicable.

Table of Contents

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e)) under the Exchange Act) that is designed to ensure that information required to be disclosed by the Company in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

Pursuant to Rule 13a-15(b) under the Exchange Act, the Company carried out an evaluation with the participation of the Company’s management, including the Company’s Chief Executive Officer (“CEO”) and the Company’s Chief Financial Officer (“CFO”), of the effectiveness of the Company’s disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) as of ~~September 30~~March 31, ~~2020~~2021. Based upon that evaluation, the Company’s CEO concluded that the Company’s disclosure controls and procedures were not effective as of ~~September~~March 3031, ~~2020~~2021 due to the Company’s limited internal resources and lack of ability to have segregation of duties and multiple levels of transaction review.

Management is in the process of determining how best to change our current system and implement a more effective system to insure that information required to be disclosed in the reports that we file or submit under the Exchange Act have been recorded, processed, summarized and reported accurately. Our management intends to develop procedures to address the current deficiencies to the extent possible given limitations in financial and manpower resources. While management is working on a plan, no assurance can be made at this point that the implementation of such controls and procedures will be completed in a timely manner or that they will be adequate once implemented.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting that occurred during the quarter ended ~~September~~March 3031, ~~2020~~2021 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

1416 Table of Contents

PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

None.

Item 1A. Risk Factors.

Not applicable.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None, other than as reported in the Forms 8-K filed on March 15, 2021 and April 5, 2021.

Item 3. Defaults Upon Senior Securities

~~None~~The promissory note payable, which is described in Note 6 to the financial statements herein and which is incorporated by reference to this Item 3, is in default in the amount of $164,478 in principal and approximately $1,423 in interest at July 19, 2021 (which is anticipated to be the date of filing this Report).

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

None.

~~Item~~17 6.Table ~~Exhibits.~~of Contents

Exhibit
No.		Description
3.1		Articles of Incorporation (incorporated by reference to our Registration Statement on Form S-1, as filed with the SEC on March 17, 2017).
3.1.1		Certificate of Amendment (incorporated by reference to our Registration Statement on Form S-1, as filed with the SEC on March 17, 2017).
3.2		Bylaws (incorporated by reference to our Registration Statement on Form S-1, as filed with the SEC on March 17, 2017).
31.1*		Rule 13a-14(a) / 15d-14(a) Certification of Chief Executive Officer and Chief Financial Officer.
32.1**		Section 1350 Certifications of Chief Executive Officer and Chief Financial Officer.
101 *		Interactive Data Files

Item 6. Exhibits.

* Filed herewith.

Exhibit
No.		Description
3.1		Articles of Incorporation (incorporated by reference to our Registration Statement on Form S-1, as filed with the SEC on March 17, 2017).

3.1.1		Certificate of Amendment (incorporated by reference to our Registration Statement on Form S-1, as filed with the SEC on March 17, 2017).

3.2		Bylaws (incorporated by reference to our Registration Statement on Form S-1, as filed with the SEC on March 17, 2017).

3.2.1		Amendment to Bylaws (incorporated by reference to Form 8-K dated and filed with the SEC on April 5, 2021).

3.2.2		Amendment to Bylaws (incorporated by reference to Form 8-K dated and filed with the SEC on April 15, 2021)

31.1*		Rule 13a-14(a) / 15d-14(a) Certification of Chief Executive Officer and Chief Financial Officer.

32.1**		Section 1350 Certifications of Chief Executive Officer and Chief Financial Officer.

101 *		Interactive Data Files

** ~~Furnished~~Filed herewith.

15** Furnished herewith.

~~SIGNATURES~~18 Table of Contents

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

	Team 360 Sports Inc.
Dated: November 9, 2020	By:	/s/ Sandor Miklos
		Sandor Miklos
		President, Chief Executive Officer, Chairman of the Board of Directors (Principal Executive Officer)

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

	Crank Media Inc

Dated: Otober 22, 2021	By:	/s/ Stephen Brown
		Stephen Brown
		Chief Executive Officer

Filing Compare · Crank Media Inc