UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

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

For the quarterly period ended ~~December~~June 3130, ~~2023~~2024

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

For the transition period from ~~______________~~ to ~~____________~~

Commission File ~~Number 333~~Number333-212268

CARO HOLDINGS INC.

(Exact name of registrant as specified in its charter)

Nevada		93-2109546
(State or other jurisdiction ofincorporation or organization)		(IRS EmployerIdentification No.)
(State or other jurisdiction of		(IRS Employer
incorporation or organization)		Identification No.)
7 Castle Street, Sheffield, UK		S3 8LT
(Address of principal executive offices)		(Zip Code)

(786) 755-3210

(Registrant’s telephone number, including area code)

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

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

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
None	None	None

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. ☒ 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). ☒ 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,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

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

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. ☐ YES ☐ NO

APPLICABLE ONLY TO CORPORATE ISSUERS

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

36,~~505~~705,000 shares of common stock issued and outstanding as of ~~February~~August 236th, 2024

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
Item 2. Management’s Discussion and Analysis of Financial Condition or Plan of Operation		15
Item 3. Quantitative and Qualitative Disclosures About Market Risk		19
Item 4. Controls and Procedures		19
PART II - OTHER INFORMATION
Item 1. Legal Proceedings		20
Item 1A. Risk Factors		20
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds		20
Item 3. Defaults Upon Senior Securities		20
Item 4. Mine Safety Disclosures		20
Item 5. Other Information		20
Item 6. Exhibits		20
SIGNATURES		21

PART I - FINANCIAL INFORMATION	3

Item 1. Financial Statements	3
Item 2. Management’s Discussion and Analysis of Financial Condition or Plan of Operation	14
Item 3. Quantitative and Qualitative Disclosures About Market Risk	17
Item 4. Controls and Procedures	17

PART II - OTHER INFORMATION	18

Item 1. Legal Proceedings	18
Item 1A. Risk Factors	18
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	18
Item 3. Defaults Upon Senior Securities	18
Item 4. Mine Safety Disclosures	18
Item 5. Other Information	18
Item 6. Exhibits	18
SIGNATURES	19

Table of Contents

PART I - FINANCIAL INFORMATION

CARO HOLDINGS INC.

~~CONDENSED~~ CONSOLIDATED BALANCE SHEETS

	December 31,			March 31,
	June 30,			March 31,
	2023			2023
	2024			2024
	(Unaudited)			(Audited)
ASSETS
Current Assets
Cash	$	25,~~503~~815		$	220,~~279~~794
Other receivable		401			-
Prepaid expense		-			105
Promissory note receivable		47,054			6,000
Other receivable		332			9
Interest receivable		1,232			13
Promissory note receivable		43,954			43,954
Deferred business acquisition cost		161,895			-
Convertible note receivable		5,000			5,000
Total Current Assets		213,085			8,292
Interest receivable		2,745			1,959
Software		258,000			258,000
Deferred business acquisition cost		161,895			161,895
TOTAL ASSETS	$	471,085		$	266,292
Total Current Assets		219,741			233,716
Software, net		239,572			248,786
TOTAL ASSETS	$	459,313		$	482,502
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
Accounts payable and accrued liabilities	$	7261,~~611~~059		$	4081,~~476~~559
Accrued interest payable		2749,~~547~~185			537,~~290~~884
Due to related parties		62,~~634~~712			5363,~~622~~360
Promissory notes payable		28,900			2528,~~000~~900
Convertible notes payable		~~651~~768,~~166~~666			~~266~~735,~~666~~332
Total Current Liabilities		~~842~~970,~~858~~522			~~391~~947,~~054~~035
TOTAL LIABILITIES		~~842~~970,~~858~~522			~~391~~947,~~054~~035
Stockholders' Deficit
Preferred stock: 75,000,000 authorized; $0.00001 par value. No shares issued and outstanding		-			-
Common stock: 75,000,000 authorized; $0.00001 par value. 36,505,000 shares and 60,000,000 shares issued and outstanding, respectively		365			600
Common stock: 75,000,000 authorized; $0.00001 par value. 36,505,000 shares issued and outstanding		365			365
Additional paid in capital		645,958			~~442~~645,~~828~~958
Accumulated deficit		(1,~~007~~149,~~430~~379	)		(~~563~~1,~~910~~102,951	)
Accumulated other comprehensive loss		(108,~~666~~153	)		(47,~~280~~905	)
Total Stockholders' Deficit		(~~371~~511,~~773~~209	)		(~~124~~464,~~762~~533	)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$	~~471~~459,~~085~~313		$	~~266~~482,~~292~~502

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

Table of Contents

CARO HOLDINGS INC.

~~CONDENSED~~ CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(~~Unaudited~~UNAUDITED)

	For the Three Months Ended						~~For the Nine Months Ended~~
	December 31,						December 31,
	June 30,
	2023			2022			2023			2022
	2024			2023
Revenues	$	~~521~~18,817		$	-		$	~~521~~		$	-
Operating Expenses
General and administration	$	624,~~184~~785		$	43,~~394~~342		$	~~14,411~~		$	~~4,394~~
Professional fees		454,~~311~~497			4937,~~109~~680			~~94,213~~			~~85,556~~
Management consulting fees - related party		73,~~495~~155			497,~~453~~504			~~17,487~~			~~49,453~~
Software and website development		18,879			-			129,740			-
Amortization		9,214			-
Total operating expenses		77,869			102,956			255,851			139,403
Software and website development		-			63,654
Loss from operations		(77,348	)		(102,956	)		(255,330	)		(139,403	)
Total operating expenses		41,651			112,180
Other income (expense)
Loss from operations		(22,834	)		(112,180	)
Interest expense		(47,450	)		(75,218	)		(192,455	)		(75,218	)
Other income (expense)
Interest income		701			-			1,219			-
Interest expense		(24,636	)		(38,689	)
Foreign exchange gain		8,209			1,607			3,046			1,607
Interest income		787			180
Total other income (expense)		(38,540	)		(73,611	)		(188,190	)		(73,611	)
Foreign exchange gain		255			4,443
Net loss before taxes		(115,888	)		(176,567	)		(443,520	)		(213,014	)
Total other expense		(23,594	)		(34,066	)
Provision for income taxes		-			-			-			-
Net loss before taxes		(46,428	)		(146,246	)
Net loss	$	(115,888	)		(176,567	)	$	(443,520	)	$	(213,014	)
Provision for income taxes		-			-
Other comprehensive income		(12,007	)		(1,707	)		(6,386	)		(1,707	)
Net loss	$	(46,428	)	$	(146,246	)
Comprehensive Loss		(127,895	)		(178,274	)		(449,906	)		(214,721	)
Other comprehensive loss		(248	)		(4,650	)
Net Loss Per Common Share – Basic and Diluted	$	(0.00	)		(0.00	)	$	(0.01	)	$	(0.01	)
Comprehensive Loss		(46,676	)		(150,896	)
Weighted Average Common Shares Outstanding		30,019,674			40,000,000			42,394,348			40,000,000
Net Loss Per Common Share – Basic and Diluted	$	(0.00	)	$	(0.00	)
Weighted Average Common Shares Outstanding		36,505,000			60,000,000

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

Table of Contents

CARO HOLDINGS INC.

~~CONDENSED~~ CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT

FOR THE ~~NINE~~THREE MONTHS ENDED ~~DECEMBER~~JUNE 3130, ~~2023~~2024 AND ~~2022~~2023

(~~Unaudited~~UNAUDITED)

~~Nine~~Three Months Ended ~~December~~June 3130, ~~2023~~ 2024

												Accumulated
	Common Stock						Additional					Other			Total
	Number of Shares			Amount			Paid ~~in Capital~~inCapital		AccumulatedDeficit			~~Comprehensive Loss~~ComprehensiveLoss			Stockholder'sDeficit
Balance - March 31, 2023		60,000,000		$	600		$	442,828	$	(563,910	)	$	(4,280	)	$	(124,762	)
Balance - March 31, 2024		36,505,000		$	365		$	645,958	$	(1,102,951	)	$	(7,905	)	$	(464,533	)
Other comprehensive loss		-			-			-		-			(~~4,650~~248	)		(~~4,650~~248	)
Net loss		-			-			-		(~~146~~46,~~246~~428	)		-			(~~146~~46,~~246~~428	)
Balance - June 30, 2023		60,000,000		$	600		$	442,828	$	(710,156	)	$	(8,930	)	$	(275,658	)
Balance - June 30, 2024		36,505,000		$	365		$	645,958	$	(1,149,379	)	$	(8,153	)	$	(511,209	)
Cancellation of common stock from related party		(36,865,000	)		(369	)		369		-			-			-
Issuance of common stock for conversion of convertible note		600,000			6			29,994		-			-			30,000
Other comprehensive loss		-			-			-		-			10,271			10,271
Net loss		-			-			-		(181,386	)		-			(181,386	)
Balance - September 30, 2023		23,735,000		$	237		$	473,191	$	(891,542	)	$	1,341		$	(416,773	)
Issuance of common stock for conversion of convertible note		220,000			2			10,998		-			-			11,000
Issuance of common stock for deferred business acquisition cost		12,550,000			126			161,769		-			-			161,895
Other comprehensive loss		-			-			-		-			(12,007	)		(12,007	)
Net loss		-			-			-		(115,888	)		-			(115,888	)
Balance - December 31, 2023		36,505,000		$	365		$	645,958	$	(1,007,430	)	$	(10,666	)	$	(371,773	)

~~Nine~~Three Months Ended ~~December~~June 3130, ~~2022~~2023

										Accumulated
	Common Stock				Additional					Other			Total
	Number of Shares		Amount		Paid ~~in Capital~~inCapital		AccumulatedDeficit			~~Comprehensive Loss~~ComprehensiveLoss			Stockholder'sDeficit
Balance - March 31, 2022		40,000,000	$	400	$	185,028	$	(207,431	)	$	-		$	(22,003	)
Balance - March 31, 2023		60,000,000	$	600	$	442,828	$	(563,910	)	$	(4,280	)	$	(124,762	)
Net loss		-		-		-		(10,572	)		-			(10,572	)
Other comprehensive loss		-		-		-		-			(4,650	)		(4,650	)
Balance - June 30, 2022		40,000,000	$	400	$	185,028	$	(218,003	)	$	-		$	(32,575	)
Net loss		-		-		-		(146,246	)		-			(146,246	)
Net loss		-		-		-		(25,875	)		-			(25,875	)
Balance - June 30, 2023		60,000,000	$	600	$	442,828	$	(710,156	)	$	(8,930	)	$	(275,658	)
Balance - September 30, 2022		40,000,000	$	400	$	185,028	$	(243,878	)	$	-		$	(58,450	)
Other comprehensive loss		-		-		-		-			(1,707	)		(1,707	)
Net loss		-		-		-		(176,567	)		-			(176,567	)
Balance - December 31, 2022		40,000,000	$	400	$	185,028	$	(420,445	)	$	(1,707	)	$	(236,724	)

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

Table of Contents

CARO HOLDINGS INC.

~~CONDENSED~~ CONSOLIDATED STATEMENTS OF CASH FLOWS

(~~Unaudited~~UNAUDITED)

	For the Nine Months Ended
	For the Three Months Ended
	December 31,
	June 30,
	2023			2022
	2024			2023
Cash Flows from Operating Activities:
Net loss	$	(~~443~~46,~~520~~428	)	$	(~~213~~146,~~014~~246	)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on convertible notes		170,200			73,333
Amortization		9,214			-
Loss on convertible notes		13,333			33,333
Changes in operating assets and liabilities:
Interest receivable		(~~1,219~~787	)		-(180	)
Other receivable		(~~315~~256	)		-(97	)
Accounts payable and accrued liabilities		30,352			48,896
Prepaid expenses		105			-
Accrued interest payable		22,257			1,885
Accounts payable and accrued liabilities		(20,414	)		64,097
Management salary payable		10,045			-
Accrued interest payable		11,302			5,355
Net Cash Used in Operating Activities		(212,200	)		(88,900	)
Management salary payable		(657	)		-
Net Cash Used in Operating Activities		(34,587	)		(43,739	)
Cash Flows from Investing Activities:
Advancement on loan receivable		(41,054	)		-
Advancement on promissory loan receivable		-			(7,305	)
Net Cash Used in Investing Activities		~~(41,054~~-	)		-(7,305	)
Cash Flows from Financing Activities:
Proceeds from issuance of promissory note		~~3,900~~-			253,~~000~~900
Proceeds from issuance of convertible notes		~~255~~20,~~300~~000			~~110~~50,000
Advancement from related party		-			1,976
Net Cash Provided by Financing Activities		20,000			53,900
Net Cash Provided by Financing Activities		259,200			136,976
Effects on changes in foreign exchange rate		(392	)		(4,176	)
Effects on changes in foreign exchange rate		(5,722	)		(1,707	)
Net Changes in Cash		(14,979	)		(1,320	)
Net Changes in Cash		224			46,369
Cash, beginning of period		20,794			2,279
Cash, beginning of period		2,279			-
Cash, end of period	$	5,815		$	959
Cash, end of period	$	2,503		$	46,369
Supplemental Disclosure Information:
Cash paid for interest	$	-		$	-
Cash paid for taxes	$	-		$	-
Non-Cash Investing and Financing Activities:
Operating expenses paid by related parties	$	-		$	504,~~345~~684
Cancellation of common stock from related party	$	369		$	-
Issuance of common stock for conversion of convertible note	$	41,000		$	-
Issuance of common stock for deferred business acquisition cost	$	161,895		$	-

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

Table of Contents

CARO HOLDINGS INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

~~DECEMBER~~JUNE 3130, ~~2023~~2024

NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS

Caro Holdings Inc. (the “Company”) was incorporated on March 29, 2016 in the State of Nevada. Initially the Company engaged in the subscription box business with a focus on offering sock subscriptions to our customers. Our subscription box was a package of a pair of socks sent directly to a customer on a recurring basis. The Company was controlled and operated by Rozh Caroro from inception till April of 2022.

Effective April 28, 2022, Rozh Caroro, the previous sole director, CEO and majority shareholder of the Company, entered into a stock purchase agreement and sold controlling interest of the Company to Christopher McEachnie. Rozh Caroro resigned her positions with the Company and Christopher McEachnie was appointed as Chief Executive Officer, Treasurer and Secretary, and sole Director of the Company. His job was to increase shareholder value by looking for opportunities in the digital space.

Mr. McEachnie began to seek experienced operators to assist in the development of the company. On September 21, 2022, the Company incorporated a subsidiary Caro Holdings International Ltd. and appointed Meriesha Rennalls to streamline operations, hire employees, consultants and contractors including the development of a software and ecommerce platform. Between September 2022 and December 2023, the Company produced a platform that can be used for a variety of businesses including B2B, B2C and D2C. The core product is now complete and the company is soliciting clients in multiple industries. The subsidiary will continue to modify and enhance the ecommerce software for its chosen vertical markets and will allow those community to sell, market and distribute their products. The Company intends to create subsidiaries in markets where it perceives a significant sales opportunity.

Effective December 31, 2022, the Company issued 20,000,000 shares to Noise Comms Limited and subsequently the 36,795,000 shares were returned to Treasury and were cancelled, such that indirectly Meriesha Rennalls now holds approximately 53% of the issued and outstanding shares of Common Stock of the Company, and as such she is able to control the election of our board of directors, approve all matters upon which shareholder approval is required and, ultimately, the direction of our Company.

Prior to September 2022, we were an early-stage company and our activities had been limited to the to the formation of our business strategy and the raising of funds to support our mission.

The Company is now engaged in the deployment of our B2B, B2C and Direct to Consumer (D2C) systems and methodologies where we target specific vertical markets. We look for small to mid-size brands that have a strong brick-and-mortar presence and have a desire to increase their digital presence.

NOTE 2 – GOING CONCERN UNCERTAINTY

As reflected in the accompanying financial statements, the Company has an accumulated deficit of $1,~~007~~149,~~430~~379, and a net loss of $~~443~~46,~~520~~428 for the ~~nine~~six months ended ~~December~~June 3130, ~~2023~~2024. The Company started to generate revenues of $~~521~~18,817 during the three months ended ~~December~~June 3130, ~~2023~~2024. These factors among others raise substantial doubt about our ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent on its ability to raise additional capital and implement its business plan. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Management believes that the current actions to obtain additional funding and implement its strategic plans provide the opportunity for the Company to continue as a going concern. There are no assurances that additional funds will be available when needed from any source or, if available, will be available on terms that are acceptable to us.

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles used in the United States of America (“US GAAP”) and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. This report should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended March 31, 2024 included in the Company’s Annual Report on Form 10-K as filed with the SEC on July 1, 2024.

In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year.

This report should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended March 31, 2023 included in the Company’s Annual Report on Form 10-K as filed with the SEC on July 14, 2023.

Table of Contents

Basis of Consolidation

These unaudited interim consolidated financial statements include the accounts of the Company and the wholly-owned subsidiary Caro Holdings International, Ltd. All material intercompany balances and transactions have been eliminated.

Foreign Currency Translations

The Company’s functional and reporting currency is the U.S. dollar. Caro Holdings International, Ltd.’s functional currency is the Great British Pounds (GBP). All transactions initiated in GBP are translated into U.S. dollars in accordance with ASC 830-30, ”Translation of Financial Statements,” as follows:

	1)	Monetary assets and liabilities at the rate of exchange in effect at the balance sheet date.
	2)	Equity at historical rates.
	3)	Revenue and expense items at the average rate of exchange prevailing during the period.

Adjustments arising from such translations are deferred until realization and are included as a separate component of stockholders’ equity as a component of comprehensive income or loss. Therefore, translation adjustments are not included in determining net income (loss) but reported as other comprehensive income (loss). Gains and losses from foreign currency transactions are included in earnings in the period of settlement.

	Nine Months Ended		Nine Months Ended
	Three MonthsEnded		Three Months Ended
	December 31,		December 31,
	June 30,		June 30,
	2023		2022
	2024		2023
Spot GBP: USD exchange rate		1.~~2730~~2640		1.~~2051~~2702
Average GBP: USD exchange rate		1.~~2534~~2620		1.~~1749~~2523

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

8 Table of Contents

Revenue Recognition

The Company recognizes revenue from the sale of products and services in accordance with ASC 606, “Revenue Recognition” following the five steps procedure:

Step 1: Identify the contract(s) with customers

Step 2: Identify the performance obligations in the contract

Step 3: Determine the transaction price

Step 4: Allocate the transaction price to performance obligations

Step 5: Recognize revenue when the entity satisfies a performance obligation

The Company’s revenue derives from monthly fee from online ecommerce service where users can sign up and setup their own online shops.

Intangible Assets

The Company accounts for intangible assets (including trademarks and formula) in accordance with ASC 350 “Intangibles-Goodwill and Other.”

Table of Contents

ASC 350 requires that goodwill and other intangibles with indefinite lives be tested for impairment annually or on an interim basis if events or circumstances indicate that the fair value of an asset has decreased below its carrying value. In addition, ASC 350 requires that goodwill be tested for impairment at the reporting unit level (operating segment or one level below an operating segment) on an annual basis and between annual tests when circumstances indicate that the recoverability of the carrying amount of goodwill may be in doubt. Application of the goodwill impairment test requires judgment, including the identification of reporting units, assigning assets and liabilities to reporting units, assigning goodwill to reporting units, and determining the fair value. Significant judgments required to estimate the fair value of reporting units include estimating future cash flows, determining appropriate discount rates and other assumptions. Changes in these estimates and assumptions or the occurrence of one or more confirming events in future periods could cause the actual results or outcomes to materially differ from such estimates and could also affect the determination of fair value and/or goodwill impairment at future reporting dates.

The cost of intangible assets with determinable useful lives is amortized to reflect the pattern of economic benefits consumed, either on a straight-line or accelerated basis over the estimated periods benefited. Patents, technology and other intangibles with contractual terms are generally amortized over their respective legal or contractual lives. When certain events or changes in operating conditions occur, an impairment assessment is performed and lives of intangible assets with determinable lives may be adjusted. (Note 5)

Related Parties

We follow ASC 850, “Related Party Disclosures”, for the identification of related parties and disclosure of related party transactions. (Note 910)

Fair Value of Financial Instruments

The Company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures,” which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements.

The estimated fair value of certain financial instruments, including accounts payable and accrued liabilities. are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. The carrying amounts of our short term credit obligations approximate fair value because the effective yields on these obligations, which include contractual interest rates taken together with other features such as embedded conversion options, are comparable to rates of returns for instruments of similar credit risk.

ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value:

Level 1 -	quoted prices in active markets for identical assets or liabilities
Level 2 -	quoted prices for similar assets and liabilities in active markets or inputs that are observable
Level 3 -	inputs that are unobservable (for example cash flow modeling inputs based on assumptions)

Convertible Note

The Company follows ASC 480-10, Distinguishing Liabilities from Equity (“ASC 480-10”) in its evaluation of the accounting for a hybrid instrument. A financial instrument that embodies an unconditional obligation, or a financial instrument other than an outstanding share that embodies a conditional obligation, that the issuer must or may settle by issuing a variable number of its equity shares shall be classified as a liability (or an asset in some circumstances) if, at inception, the monetary value of the obligation is based solely or predominantly on any one of the following: (a) a fixed monetary amount known at inception; (b) variations in something other than the fair value of the issuer’s equity shares; or (c) variations inversely related to changes in the fair value of the issuer’s equity shares. Hybrid instruments meeting these criteria are not further evaluated for any embedded derivatives. The Company records each convertible note as a liability at the fixed monetary amount by measuring and recording a premium, as applicable, on the note issuance date with a charge to interest expense in the accompanying consolidated statements of operations and comprehensive loss.

9 Table of Contents

Software Development

The Company accounts for all software purchased and software development costs in accordance with FASB ASC 985-20 “Software”. Accordingly, all costs incurred prior to establishing technological feasibility are expensed and software purchased or developed with established technological feasibility are capitalized. Software purchased is recorded at cost and depreciated using the straight-line method upon implementation with an estimated useful life of seven years.

As of ~~December~~June 3130, ~~2023~~2024, purchased software of $258,000 was capitalized and none of the costs associated with software development met the criteria for capitalization. ~~During the nine months ended December 31, 2023 and 2022, the Company incurred $128,242 and $0 software development cost, respectively.~~

Table of Contents

Web Development Cost

In accordance with FASB ASC 350-50 “Web Development Costs”, all costs incurred during the website planning stage are incurred. During the website application and infrastructure development stage, software tool costs and internet domain costs are capitalized, and website hosting costs are expensed. Cost incurred in the graphics development, content development and operating stage are generally expensed unless the costs are software related and should then be capitalized. ~~During the nine months ended December 31, 2023 and 2022, the Company incurred $1,498 and $6,463 web development cost, respectively.~~

Net Income (Loss) per Share

The Company computes basic and diluted net loss per share amounts in accordance with ASC Topic 260, “Earnings per Share.” Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of shares of common stock outstanding during the reporting period. Diluted loss per share reflects the potential dilution that could occur if convertible notes to issue common stock were converted resulting in the issuance of common stock that could share in the loss of the Company.

For the ~~nine~~three months ended ~~December~~June 3130, ~~2023~~2024 and ~~2022~~2023, convertible notes were dilutive instruments and were not included in the calculation of diluted loss per share as their effect would be antidilutive.

	December 31,		December 31,
	June 30,		June 30,
	2023		2022
	2024		2023
	(Shares)		(Shares)
Convertible notes payable		~~651~~768,~~166~~666		~~183~~266,~~333~~666
		651,166		183,333
		768,666		266,666

Recently Accounting Pronouncements

In August 2020, the FASB issued ASU 2020-06, ASC Subtopic 470-20 “Debt—Debt with “Conversion and Other Options” and ASC subtopic 815-40 “Hedging—Contracts in Entity’s Own Equity”. The standard reduced the number of accounting models for convertible debt instruments and convertible preferred stock. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting; and, (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. The amendments in this update 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 Company is currently assessing the impact of the adoption of this standard on its consolidated financial statements.

NOTE 4 – DEFERRED BUSINESS ACQUISITION COST

On November 14, 2023, the Company agreed to acquire a marketplace provider in the spirits industry, a non-affiliated corporation based in Wyoming, under which the Company will issue, on a pro-rata basis, up to 12,550,000 shares of common stock based on the acquiree’s reaching future milestones in exchange for 100% of the issued and outstanding shares of the acquiree making it a wholly owned subsidiary of the Company. The shares will remain in escrow with the Company until those milestones.

10 Table of Contents

On November 17, 2023, the Company issued 12,550,000 shares of common stock at $0.0129 deemed share price (based on the latest arm-length share transaction price in April 2022) valued at $161,895 into an escrow account. The future release of the common stock will depend on the acquiree’s reaching the following milestones:

	·	Upon acquiree’s achieving $250,000 in net revenue, 25% (3,137,500 shares) of the common stock held in escrow will be released to the acquiree’s shareholders.

	·	Upon acquiree’s achieving $500,000 in net revenue, 25% (3,137,500 shares) of common stock held in escrow will be released to the acquiree’s shareholders.

	·	Upon acquiree’s achieving $1,000,000 in net revenue, 50% (6,275,000 shares) of common stock held in escrow will be released to the acquiree’s shareholders.

As of ~~December~~June 3130, ~~2023~~2024, the business acquisition has not been completed. The acquisition is expected to be completed during the ~~4th~~2nd quarter of fiscal year ~~2023~~2024 (three months ended ~~March~~September 3130, 2024).

Table of Contents

NOTE 5 – INTANGIBLE ASSETS PURCHASE

On December 29, 2022, the Company entered into a software purchase agreement with Noise Comms Ltd. for the acquisition of software for a Unified Communications Platform which enables multi-party communications between brands and consumers in consideration of 20,000,000 shares of common stock. For the last six years, the director and COO of the Company has been operating Noise Comms Ltd and is the sole shareholder, COO and director. On January 9, 2023, the Company issued 20,000,000 shares of common stock at $0.0129 deemed share price (based on the latest arm-length share transaction price in April 2022) to Noise Comms Ltd. for the acquisition of the software valued at $258,000.

The software ~~will~~is be amortized over estimated useful life of seven years following launch of the service ~~planned~~commenced ~~during~~from the 4th quarter of fiscal year 2023 (three months ended March 31, 2024). During the three months ended June 30, 2024, the amortization expense was $9,214. As of ~~December~~June 3130, ~~2023~~2024 and March 31, ~~2023~~2024, the intangible asset was $~~258~~239,~~000~~572 and $248,786, respectively. Based on the carrying value of finite-lived intangible assets as of ~~December~~June 3130, ~~2023~~2024, the amortization expense for the next seven years will be as follows:

	Amortization
Year Ended March 31,	Expense
2024	$	18,429
2025 (excluding three months ended June 30, 2024)	$	27,644
2025		36,857
2026		36,857
2027		36,857
2028		36,857
Thereafter		92,143
2029		36,857
	$	258,000
Thereafter		64,500
	$	239,572

NOTE 6 – PROMISSORY NOTE RECEIVABLE

On March 20, 2023, the Company signed an agreement with an unaffiliated company for a loan receivable amount of up to $15,000. The loan bears interest at 8% per annum and has a six month term. During the ~~nine~~year ~~months~~ ended ~~December~~March 31, ~~2023~~2024, the Company issued $5,000 in loan receivable to the unaffiliate. As of ~~December~~June 3130, ~~2023~~2024 and March 31, ~~2023~~2024, the loan receivable was $11,000 and $611,000, respectively. As of ~~December~~June 3130, ~~2023~~2024 and March 31, ~~2023~~2024, the loan interest receivable was $~~627~~1,066 and $13846, respectively.

On June 1, 2023, the Company signed an agreement with an unaffiliated company for a loan receivable amount of up to $5,000. The loan bears interest at 8% per annum and has a six month term. During the ~~nine~~year ~~months~~ ended ~~December~~March 31, ~~2023~~2024, the Company issued $6,554 in loan receivable to the unaffiliate and made $3,100 repayment. As of ~~December~~June 3130, ~~2023~~2024 and March 31, 2023, the loan receivable was $63,~~554~~454 and $0, respectively. As of ~~December~~June 3130, ~~2023~~2024 and. March 31, ~~2023~~2024, the loan interest receivable was $~~132~~290 and $0221, respectively.

On September 14, 2023, the Company signed an agreement with an unaffiliated company for a loan receivable amount of up to $20,000. The loan bears interest at 8% per annum and has a six month term. During the ~~nine~~year ~~months~~ ended ~~December~~March 31, ~~2023~~2024, the Company issued $20,000 in loan receivable to the unaffiliate. As of ~~December~~June 3130, ~~2023~~2024 and March 31, ~~2023~~2024, the loan receivable was $20,000 and $020,000, respectively. As of ~~December~~June 3130, ~~2023~~2024 and March 31, ~~2023~~2024, the loan interest receivable was $~~473and~~1,271 and $0872, respectively.

On November 30, 2023, the Company signed an agreement with an unaffiliated company for a loan receivable amount of up to $9,500. The loan is non-interest bearing and has a six month term. During the ~~nine~~year ~~months~~ ended ~~December~~March 31, ~~2023~~2024, the Company issued $9,500 in loan receivable to the unaffiliate. As of ~~December~~June 3130, ~~2023~~2024 and March 31, ~~2023~~2024, the loan receivable was $9,500 and $09,500, respectively.

As of ~~December~~June 3130, ~~2023~~2024 and March 31, ~~2023~~2024, the total loan receivable was $4743,~~054~~954 and $643,~~000,~~954 respectively. As of ~~December~~June 3130, ~~2023~~2024 and March 31, ~~2023~~2024, total loan interest receivable was $12,~~232~~627 and $131,940, respectively.

NOTE 7 – CONVERTIBLE NOTE RECEIVABLE

On March 14, 2024, the Company signed an agreement with an unaffiliated company for a convertible loan receivable amount of $5,000. The loan bears interest at 8% per annum and has a two-month term. The Company may convert the outstanding amount of the loan, including accrued interest, into shares of the unaffiliated company at a valuation of $500,000 minus any outstanding debt at the time of conversion. As of June 30, 2024 and March 31, 2024, the total loan receivable was $5,000 and $5,000, respectively. As of June 30, 2024 and March 31, 2024, the loan interest receivable was $118 and $19, respectively.

Table of Contents

NOTE 78 – PROMISSORY NOTES PAYABLE

On October 9, 2022, the Company issued a $25,000 promissory note to an unaffiliated party. The note bears interest at 8% per annum and matures in six months from the issuance date.

On April 3, 2023, the Company issued a $3,900 promissory note to an unaffiliated party. The note bears interest at 8% per annum and matures in six months from the issuance date.

As of ~~December~~June 3130, ~~2023~~2024 and March 31, ~~2023~~2024, the promissory note payable was $28,900 and $2528,~~000~~900, respectively. As of ~~December~~June 3130, ~~2023~~2024 and March 31, ~~2023~~2024, the accrued interest payable was $23,~~675~~827 and ~~948~~3,251, respectively.

NOTE 89 – CONVERTIBLE NOTES PAYABLE

As of ~~December~~June 3130, ~~2023~~2024 and March 31, ~~2023~~2024, the total principal balance of the convertible notes payable was $~~651~~768,~~166~~666 and $~~266~~735,~~666~~333, respectively.

On October 13, 2022, the Company entered into an agreement to issue a convertible promissory note to an unaffiliate for an amount of $20,000. The convertible promissory note bears interest at 10% per annum and matures six months from the issuance date. The conversion price is 60% of the average VWAP of the Company’s’ stock during the previous 15 trading days prior to conversion. Debt premium of $13,333 was recognized as a loss on convertible note and charged to interest expense. During the nine months ended December 31, 2023, principal amount of $1,000 was converted to 20,000 shares of common stock. As of December 31, 2023 and March 31, 2023, the balance of the convertible note was $32,333.

	June 30,		March 31,
	2024		2024
October 2022	$	32,333	$	32,333
November 2022		110,000		110,000
February 2023		83,333		83,333
April 2023		50,000		50,000
May 2023		33,333		33,333
July 2023		125,000		125,000
August 2023		38,333		38,333
September 2023		83,333		83,333
November 2023		62,167		62,167
December 2023		33,333		33,333
February 2024		40,000		40,000
March 2024		44,167		44,167
May 2024		33,333		-
	$	768,666	$	735,333

~~On November 8, 2022, the Company entered into an agreement to issue a convertible promissory note to an unaffiliate for an amount of $70,000.~~ The ~~convertible~~terms ~~promissory note bears interest at 8% per annum and matures one year from the issuance date. The conversion price is 60%~~ of the ~~average~~convertible ~~VWAP~~notes ofare ~~the~~summarized ~~Company’s stock during the previous 15 trading days prior to conversion. Debt premium of $46,667 was recognized~~ as a loss on convertible note and charged to interest expense. During the nine months ended December 31, 2023, principal amount of $30,000 was converted to 600,000 shares of common stock. As of December 31, 2023 and March 31, 2023, the balance of the convertible note was $86,667 and $116,667, respectively.follows:

On· ~~November~~Bears ~~19, 2022, the Company entered into an agreement to issue a convertible promissory note to an unaffiliate for an amount of $20,000. The convertible promissory note bears~~ interest at 810% per annum ~~and~~· ~~matures~~Matures six months from the issuance date. ~~The~~· ~~conversion~~Convertible ~~price~~at is 60% of the average VWAP of the Company’s’ stock during the previous 15 trading days prior to conversion. Debt premium of $13,333 was recognized as a loss on convertible note and charged to interest expense. During the nine months ended December 31, 2023, principal amount of $10,000 was converted to 200,000 shares of common stock. As of December 31, 2023 and March 31, 2023, the balance of the convertible note was $23,333.

OnDuring ~~February 22, 2023,~~ the ~~Company~~three ~~entered~~months ~~into~~ended anJune ~~agreement~~30, to2024 ~~issue~~and a2023, ~~convertible~~debt ~~promissory~~premium ~~note to an unaffiliate for an amount~~ of $5013,~~000.~~333 ~~The convertible promissory note bears interest at 8% per annum~~ and ~~matures one year from the issuance date. The conversion price is 60% of the average VWAP of the Company’s stock during the previous 15 trading days prior to conversion. Debt premium of~~ $33,333 was recognized as a loss on convertible note and charged to interest expense. ~~As of December 31, 2023 and March 31, 2023, the balance of the convertible note was $83,333.~~

OnDuring ~~April 19, 2023,~~ the ~~Company~~three ~~entered~~months ~~into~~ended anJune ~~agreement~~30, to2024 ~~issue~~and a2023, ~~convertible~~interest ~~promissory~~expense ~~note~~of to$24,636 an(including ~~unaffiliate for an amount of~~ $3013,~~000.~~333 ~~The~~loss on convertible ~~promissory~~notes ~~note~~charged ~~bears~~to interest atexpense 8%as ~~per~~described ~~annum~~above) and ~~matures~~$38,689 ~~six~~(including ~~months~~$33,333 ~~from~~loss ~~the~~on ~~issuance~~convertible ~~date.~~notes ~~The~~charged ~~conversion price is 60% of the average VWAP of the Company’s stock during the previous 15 trading days prior~~ to ~~conversion.~~interest ~~Debt~~expense ~~premium~~as ofdescribed ~~$20,000~~above) was ~~recognized~~incurred ~~as a loss~~ on convertible ~~note~~notes, ~~and charged to interest expense~~respectively. As of ~~December~~June 3130, ~~2023~~2024 and March 31, ~~2023~~2024, ~~the~~accrued ~~balance~~interest ofpayable ~~the~~on convertible ~~note~~notes was $5045,~~000~~358 and $034,633, respectively.

OnNOTE ~~May~~10 ~~22,~~– ~~2023,~~RELATED ~~the~~PARTY Company entered into an agreement to issue a convertible promissory note to an unaffiliate for an amount of $20,000. The convertible promissory note bears interest at 8% per annum and matures six months from the issuance date. The conversion price is 60% of the average VWAP of the Company’s stock during the previous 15 trading days prior to conversion. Debt premium of $13,333 was recognized as a loss on convertible note and charged to interest expense. As of December 31, 2023 and March 31, 2023, the balance of the convertible note was $33,333 and $0, respectively.TRANSACTIONS

OnDuring ~~July~~the 10three months ended June 30, 2023, the Company ~~entered~~incurred ~~into an agreement to issue a convertible promissory note to an unaffiliate for an amount of~~ $507,~~000.~~504 management ~~The~~consulting ~~convertible~~fees ~~promissory~~to ~~note~~the ~~bears~~director ~~interest at 8% per annum~~ and ~~matures~~Chief ~~six~~Operating ~~months~~Officer ~~from~~(“COO”) ~~the issuance date. The conversion price is 60%~~ of the ~~average VWAP of the~~ Company~~’s stock during the previous 15 trading days prior to conversion~~. ~~Debt~~As ~~premium~~ of ~~$33~~June 30,~~333~~ ~~was~~2024 ~~recognized~~and asMarch a31, ~~loss~~2024, onthe ~~convertible~~management ~~note~~consulting ~~and~~fee ~~charged~~payable to ~~interest~~the ~~expense.~~director ~~As of December 31, 2023~~ and ~~March~~COO ~~31,2023, the balance~~ of the ~~convertible~~Company ~~note~~ was $8310,~~333~~ 294 and $010,944, respectively.

OnAs ~~July~~of ~~14,~~June ~~2023~~30, ~~the~~2024 ~~Company~~and ~~entered~~March ~~into~~31, an2024, ~~agreement~~there towas ~~issue a convertible promissory note to an unaffiliate for an amount of~~ $2562,~~000.~~712 ~~The convertible promissory note bears interest at 8% per annum~~ and ~~matures six months from the issuance date. The conversion price is 60% of the average VWAP of the Company’s stock during the previous 15 trading days prior to conversion. Debt premium of~~ $1663,~~667~~360 ~~was~~due ~~recognized as a loss on convertible note and charged~~ to ~~interest~~the ~~expense.~~current Asdirectors of ~~December 31, 2023 and March 31,2023,~~ the ~~balance of the convertible note was $41~~Company,~~667~~ ~~and $0,~~ respectively.

On August 15, 2023, the Company entered into an agreement to issue a convertible promissory note to an unaffiliate for an amount of $23,000. The convertible promissory note bears interest at 8% per annum and matures six months from the issuance date. The conversion price is 60% of the average VWAP of the Company’s stock during the previous 15 trading days prior to conversion. Debt premium of $15,333 was recognized as a loss on convertible note and charged to interest expense. As of December 31, 2023 and March 31,2023, the balance of the convertible note was $38,333 and $0, respectively.

Table of Contents

OnNOTE ~~September~~11 6,– 2023, the Company entered into an agreement to issue a convertible promissory note to an unaffiliate for an amount of $50,000. The convertible promissory note bears interest at 8% per annum and matures six months from the issuance date. The conversion price is 60% of the average VWAP of the Company’s stock during the previous 15 trading days prior to conversion. Debt premium of $33,333 was recognized as a loss on convertible note and charged to interest expense. As of December 31, 2023 and March 31,2023, the balance of the convertible note was $83,333 and $0, respectively.EQUITY

On November 10, 2023, the Company entered into an agreement to issue a convertible promissory note to an unaffiliate for an amount of $17,300. The convertible promissory note bears interest at 8% per annum and matures six months from the issuance date. The conversion price is 60% of the average VWAP of the Company’s stock during the previous 15 trading days prior to conversion. Debt premium of $11,533 was recognized as a loss on convertible note and charged to interest expense. As of December 31, 2023 and March 31,2023, the balance of the convertible note was $28,833 and $0, respectively.

On November 22, 2023, the Company entered into an agreement to issue a convertible promissory note to an unaffiliate for an amount of $20,000 The convertible promissory note bears interest at 8% per annum and matures six months from the issuance date. The conversion price is 60% of the average VWAP of the Company’s stock during the previous 15 trading days prior to conversion. Debt premium of $13,333 was recognized as a loss on convertible note and charged to interest expense. As of December 31, 2023 and March 31,2023, the balance of the convertible note was $33,333 and $0, respectively.

On December 8, 2023, the Company entered into an agreement to issue a convertible promissory note to an unaffiliate for an amount of $20,000. The convertible promissory note bears interest at 8% per annum and matures six months from the issuance date. The conversion price is 60% of the average VWAP of the Company’s stock during the previous 15 trading days prior to conversion. Debt premium of $13,333 was recognized as a loss on convertible note and charged to interest expense. As of December 31, 2023 and March 31, 2023, the balance of the convertible note was $33,333 and $0, respectively.

Accrued interest on convertible notes

During the nine months ended December 31, 2023 and 2022, interest expense of $190,728 (including $170,200 loss on convertible notes charged to interest expense as described above) and $0 was incurred on convertible notes, respectively. As of December 31, 2023 and March 31, 2023, accrued interest payable on convertible notes was $24,872 and $4,342, respectively.

NOTE 9 – RELATED PARTY TRANSACTIONS

On January 9, 2023, the Company issued 20,000,000 shares of common stock to Noise Comms Ltd., a corporation controlled by the director and COO of the Company, for the acquisition of software valued at $258,000. (Note 4)

During the nine months ended December 31, 2023 and 2022, the director and Chief Executive Officer (“CEO”) of the Company paid $0 and $50,345 on behalf of the Company for business operation purposes, respectively. On August 4, 2023, the Company cancelled 36,865,000 shares of common stock previously held by the director and CEO of the Company.

During the nine months ended December 31, 2023, the Company incurred $17,487 management consulting fees to the director and Chief Operating Officer (“COO”) of the Company. As of December 31, 2023 and March 31, 2023, the management consulting fee payable to the director and COO of the Company was $10,201 and $1,250, respectively.

As of December 31, 2023 and March 31, 2023, there was $62,634 and $53,622 due to the current directors of the Company, respectively.

NOTE 10 – EQUITY

Authorized Stock

The Company’s authorized common stock consists of 75,000,000 shares at $0.00001 par value.

Common Stock

OnAs ~~January~~of 9,June ~~2023~~30, ~~the~~2024 ~~Company~~and ~~issued~~March 2031,~~000,000~~ ~~shares of common stock to Noise Comms Ltd.~~2024, ~~a corporation controlled by~~ the ~~director~~issued and ~~COO~~outstanding ofcommon ~~the~~stock ~~Company~~was 36,505,000 ~~for~~and ~~the acquisition of software valued at $258~~36,505,000. ~~(Note~~shares, ~~4 & 7)~~respectively.

OnNOTE ~~July~~12 ~~31,~~– ~~2023,~~SUBSEQUENT ~~the Company issued 600,000 shares of common stock for the partial repayment on a convertible note of $30,000.~~EVENTS

OnIn ~~August~~accordance 4,with ~~2023~~ASC 855-10, the Company ~~cancelled~~has ~~36,865,000~~analyzed ~~shares~~its ofoperations ~~common~~subsequent ~~stock~~to ~~previously~~the ~~held~~June by30, 2024 to the ~~former~~date ~~director~~these financial statements were issued and ~~CEO~~has ofdetermined that it has the ~~Company.~~following material subsequent events:

On ~~October~~July 3110, ~~2023~~2024, the Company ~~issued~~entered ~~20,000~~into ~~shares~~an ofagreement ~~common~~to ~~stock~~issue ~~for~~a ~~the~~convertible ~~partial~~promissory ~~repayment~~note onto aan ~~convertible~~unaffiliate ~~note~~for an amount of $110,000. The convertible promissory note bears interest at 8% per annum and matures six months from the issuance date. The conversion price is 60% of the average VWAP of the Company’s stock during the previous 15 trading days prior to conversion.

On July 8, 2024, principal amount of a convertible note of $10,000 was converted into 200,000 shares of common stock.

Table of Contents

OnItem ~~November~~2. 1,Management’s ~~2023,~~Discussion ~~the~~and ~~Company~~Analysis ~~issued 200,000 shares~~ of ~~common~~Financial ~~stock~~Condition ~~for~~and ~~the~~Results ~~partial repayment on a convertible note~~ of ~~$10,000.~~Operations

~~On November 17, 2023, the Company issued into escrow 12,550,000 shares of common stock for acquisition of a non~~FORWARD-~~affiliated~~LOOKING ~~corporation in which the acquiree will become wholly owned subsidiary of the Company. (Note 4)~~STATEMENTS

AsThis quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of ~~December~~these 31terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, ~~2023~~uncertainties and ~~March~~other 31factors that may cause our or our industry’s actual results, ~~2023~~levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the ~~issued~~expectations ~~and~~reflected ~~outstanding~~in ~~common~~the ~~stock~~forward-looking ~~was~~statements 36are reasonable,~~505~~ we cannot guarantee future results,~~000~~ ~~and~~levels 60of activity,~~000~~ performance or achievements. Except as required by applicable law,~~000~~ ~~shares~~including the securities laws of the United States, ~~respectively~~we do not intend to update any of the forward-looking statements to conform these statements to actual results.

~~NOTE~~Our 11unaudited –financial ~~SUBSEQUENT~~statements ~~EVENTS~~are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this quarterly report.

In ~~accordance~~this ~~with~~quarterly ~~ASC 855-10~~report, ~~the~~unless ~~Company~~otherwise ~~has~~specified, ~~analyzed~~all ~~its~~dollar ~~operations~~amounts ~~subsequent~~are toexpressed ~~the~~in ~~December~~United ~~31,~~States ~~2023~~dollars toand ~~the~~all ~~date~~references ~~these~~to ~~financial~~“common ~~statements~~shares” ~~were~~refer ~~issued~~to ~~and~~the ~~has~~common ~~determined~~shares ~~that~~in itour ~~has~~capital ~~the following material subsequent events:~~stock.

OnAs ~~February~~used 5,in ~~2024~~this quarterly report, the ~~Company~~terms ~~entered~~“we”, ~~into an agreement to issue a convertible promissory note to an unaffiliate for an amount of $24~~“us”,~~000.~~ ~~The~~“our” ~~convertible promissory note bears interest at 8% per annum~~ and ~~matures~~“our ~~six~~company” ~~months~~mean ~~from~~Caro ~~the~~Holdings ~~issuance date~~Inc., ~~The~~unless ~~conversion~~otherwise ~~price is 60% of the average VWAP of the Company’s stock during the previous 15 trading days prior to conversion~~indicated.

14General ~~Table of Contents~~Overview

~~Item~~Our ~~2. Management’s Discussion and Analysis of Financial Condition or Plan of Operation~~History

~~FORWARD-LOOKING~~Our ~~STATEMENTS~~company was incorporated on March 29, 2016 in the State of Nevada. Initially we engaged in the subscription box business with a focus on offering sock subscriptions to our customers. Our subscription box was a package of a pair of socks sent directly to a customer on a recurring basis. The company was controlled and operated by Rozh Caroro from inception till April of 2022.

~~This~~Effective ~~quarterly~~April ~~report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases~~28, ~~you can identify forward-looking statements by terminology such as “may”~~2022, ~~“should”,~~Rozh ~~“expects”~~Caroro, ~~“plans”,~~the ~~“anticipates”,~~previous ~~“believes”,~~sole ~~“estimates”~~director, ~~“predicts”,~~CEO ~~“potential”~~and ormajority ~~“continue”~~shareholder orof the ~~negative~~Company, ofentered ~~these~~into ~~terms~~a orstock ~~other~~purchase ~~comparable~~agreement ~~terminology. These statements are only predictions~~ and ~~involve~~sold ~~known~~controlling ~~and~~interest ~~unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels~~ of ~~activity,~~the ~~performance~~Company ~~or achievements~~ to beChristopher ~~materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements~~McEachnie. ~~Although~~Rozh weCaroro ~~believe~~resigned ~~that~~her ~~the~~positions ~~expectations~~with ~~reflected in~~ the ~~forward-looking~~Company ~~statements~~and ~~are~~Christopher ~~reasonable,~~McEachnie wewas ~~cannot~~appointed ~~guarantee~~as ~~future~~Chief ~~results,~~Executive ~~levels of activity~~Officer, ~~performance~~Treasurer orand ~~achievements. Except as required by applicable law~~Secretary, ~~including~~and ~~the~~sole ~~securities~~Director ~~laws~~ of the ~~United~~Company. ~~States,~~His wejob dowas ~~not intend~~ to ~~update~~increase ~~any~~shareholder ofvalue ~~the~~by ~~forward-~~looking ~~statements~~for toopportunities ~~conform~~in ~~these~~the ~~statements~~digital ~~to actual results~~space.

~~Our~~Mr. ~~unaudited~~McEachnie ~~financial~~began ~~statements~~to ~~are~~seek ~~prepared~~experienced inoperators ~~accordance~~to ~~with~~assist ~~United~~in ~~States~~the ~~Generally~~development ~~Accepted~~of ~~Accounting~~the ~~Principles~~company. ~~The~~On ~~following~~September ~~discussion~~21, ~~should~~2022, bethe ~~read~~Company inincorporated ~~conjunction~~a ~~with~~subsidiary ~~our~~Caro ~~financial~~Holdings ~~statements~~International Ltd. and ~~the~~appointed ~~related~~Meriesha ~~notes~~Rennalls ~~that~~to ~~appear~~streamline ~~elsewhere~~operations, inhire ~~this~~employees, ~~quarterly~~consultants ~~report~~and contractors including the development of a software and ecommerce platform. ~~The~~Between ~~following~~September ~~discussion~~2022 ~~contains~~and ~~forward-looking~~December ~~statements~~2023, the company produced a platform that ~~reflect~~can ~~our~~be ~~plans~~used for a variety of businesses including B2B, ~~estimates~~B2C and ~~beliefs~~D2C. ~~Our~~The ~~actual~~core ~~results~~product ~~could~~is ~~differ~~now ~~materially~~complete ~~from~~and ~~those~~the ~~discussed~~company inis ~~the~~soliciting ~~forward-looking~~clients ~~statements.~~in ~~Factors~~multiple ~~that~~industries. ~~could~~The ~~cause~~subsidiary orwill ~~contribute~~continue to ~~such~~modify ~~differences~~and ~~include,~~enhance ~~but~~the ~~are~~ecommerce ~~not~~software ~~limited~~for ~~to,~~its chosen vertical markets and will allow those ~~discussed~~community ~~below~~to sell, market and ~~elsewhere~~distribute their products. The company intends to create subsidiaries in ~~this~~markets ~~quarterly~~where ~~report~~it perceives a significant sales opportunity.

InEffective ~~this~~December ~~quarterly report~~31, ~~unless~~2022 ~~otherwise~~the ~~specified~~company issued 20,000,000 ~~all~~shares ~~dollar~~to ~~amounts~~Noise ~~are~~Comms ~~expressed~~Limited inand ~~United~~subsequently ~~States~~the ~~dollars~~36,795,000 ~~and~~shares ~~all~~were ~~references~~returned to ~~“common~~Treasury ~~shares”~~and ~~refer~~were tocancelled, such that indirectly Meriesha Rennalls now holds approximately 53% of the ~~common~~issued and outstanding shares inof Common Stock of the Company, and as such she is able to control the election of our ~~capital~~board ~~stock~~of directors, approve all matters upon which shareholder approval is required and, ultimately, the direction of our Company.

AsPrior ~~used~~to inSeptember ~~this~~2022, ~~quarterly~~we ~~report,~~were ~~the~~an ~~terms~~early-stage ~~“we”,~~company ~~“us”,~~and “our” ~~and~~activities “had been limited to the to the formation of our ~~company”~~business ~~mean~~strategy ~~Caro~~and ~~Holdings~~the ~~Inc.,~~raising ~~unless~~of ~~otherwise~~funds ~~indicated~~to support our mission.

~~General~~Our ~~Overview~~Current Business

~~Our~~We ~~History~~are now engaged in the deployment of our B2B, B2C and Direct to Consumer (D2C) systems and methodologies where we target specific vertical markets. We look for small to mid-size brands that have a strong brick-and-mortar presence and have a desire to increase their digital presence.

Our ~~company~~D2C ~~was~~system ~~incorporated~~is ona ~~March~~fully ~~29,~~integrated ~~2016~~360° inplatform ~~the~~that ~~State~~allows ofmarketing, ~~Nevada.~~analytics ~~Initially~~and wee-commerce ~~engaged~~functionality inwrapped ~~the~~around ~~subscription~~an ~~box~~industry-specific ~~business~~directory ~~with~~listing ~~a focus on offering sock subscriptions to our customers~~platform. ~~Our~~The ~~subscription~~analytical ~~box~~data ~~was~~provides ainsight ~~package~~from ofmultiple achannels ~~pair~~to offacilitate ~~socks~~successful ~~sent~~marketing ~~directly~~decisions tobased ~~a customer~~ on a ~~recurring~~client’s ~~basis.~~entire ~~The~~business ~~Company was controlled and operated by Rozh Caroro from inception till April of 2022~~performance.

~~Effective~~14 ~~April~~Table ~~28, 2022, Rozh Caroro, the previous sole director, CEO and majority shareholder~~ of the Company, entered into a stock purchase agreement and sold controlling interest of the Company to Christopher McEachnie. Rozh Caroro resigned her positions with the Company and Christopher McEachnie was appointed as Chief Executive Officer, Treasurer and Secretary, and sole Director of the Company. His job was to increase shareholder value by looking for opportunities in the digital space. Contents

~~Mr.~~Based ~~McEachnie~~on ~~began~~these ~~to seek experienced operators to assist in the development of the Company. On September 21~~analytics, ~~2022,~~ the ~~Company~~system ~~incorporated~~can aimmediately ~~subsidiary~~deploy ~~Caro~~personalization ~~Holdings International Ltd.~~ and ~~appointed~~optimization ~~Meriesha Rennalls to streamline operations~~independently, ~~hire employees, consultants~~ and ~~contractors~~enhance ~~including~~understanding ~~the~~of ~~development~~how ofcustomer ainteractions ~~software~~vary ~~and~~across ~~ecommerce~~different ~~platform~~regions. ~~Between September 2022 and December 2023~~Furthermore, ~~the~~our ~~Company~~infrastructure ~~produced a platform that can be used for a variety of businesses including B2B, B2C and D2C. The core product~~ is ~~now~~designed ~~complete and the Company is soliciting clients in multiple industries. The subsidiary will continue~~ to ~~modify~~take ~~and~~advantage ~~enhance~~of ~~the~~growth ~~ecommerce~~opportunities ~~software~~with ~~for~~minimal ~~its~~additional ~~chosen vertical markets and will allow those community to sell, market and distribute their products~~costs. ~~The Company intends to create subsidiaries in markets where it perceives a significant sales opportunity.~~

~~Effective~~Since ~~December~~September ~~31,~~ 2022, the ~~Company~~company ~~issued~~has ~~20,000,000~~been ~~shares~~actively toengaged ~~Noise~~in ~~Comms~~soliciting ~~Limited~~ and ~~subsequently~~identifying ~~the~~clients ~~36,795,000~~in ~~shares~~across ~~were~~a ~~returned~~broad tospectrum ~~Treasury~~of ~~and~~industries. ~~were~~It ~~cancelled,~~has ~~such~~also ~~that~~been ~~indirectly~~engaged ~~Meriesha~~in ~~Rennalls~~several ~~now~~marketing ~~holds~~activities ~~approximately~~to ~~53%~~attract ofpartners, ~~the~~clients ~~issued~~ and ~~outstanding~~beta ~~shares~~testers ofwho ~~Common~~are ~~Stock~~providing ofvaluable ~~the~~feedback ~~Company,~~in ~~and~~order asfor ~~such~~us ~~she is able~~ to ~~control~~ensure ~~the election of~~ our ~~board~~system ofmeets ~~directors,~~their ~~approve~~needs ~~all matters upon which shareholder approval is required~~ and, ~~ultimately, the direction of our Company~~expectations.

~~Prior~~The Company is also looking to ~~September~~provide ~~2022,~~its wemarketplace ~~were~~platform anto ~~early-stage~~the ~~company~~pet care and ~~our~~spirit ~~activities~~industries ~~had~~in ~~been~~the ~~limited~~United toStates and the toUnited ~~the~~Kingdom. ~~formation~~The Company is also engaging in a full array of ~~our~~marketing ~~business~~activities ~~strategy~~including social media, attending trade shows and ~~the~~fairs, ~~raising~~online ofconferences, ~~funds~~and utilizing identified experts in affiliate marketing, pay-per-click, organic, search, engine, optimization, and social media marketing to ~~support~~promote ~~our~~D2C ~~mission~~commerce.

~~Our~~On ~~Current~~December ~~Business~~29, 2022, the Company entered into a software license agreement with Noise Comms Ltd. for the acquisition of a Unified Communications Platform which enables multi-party communications between brands and consumers in consideration of 20,000,000 shares of common stock valued at $258,000.

WeOn ~~are~~November ~~now~~14, ~~engaged~~2023, the Company agreed to acquire a marketplace provider in the ~~deployment~~spirits ofindustry, ~~our~~a ~~B2B~~non-affiliated corporation based in Wyoming, ~~B2C~~under ~~and~~which ~~Direct~~the Company will issue, on a pro-rata basis, up to ~~Consumer~~12,550,000 ~~(D2C)~~shares ~~systems~~of ~~and~~common ~~methodologies~~stock ~~where~~based weon ~~target~~the ~~specific~~company ~~vertical~~reaching ~~markets.~~future Wemilestones ~~look~~in exchange for ~~small~~100% toof ~~mid-size~~the ~~brands~~issued ~~that~~and ~~have~~outstanding ashares ~~strong~~of ~~brick-and-mortar~~the ~~presence~~company ~~and~~making ~~have~~it a ~~desire~~wholly toowned ~~increase~~subsidiary ~~their~~of ~~digital~~the ~~presence~~Company. The shares will remain in escrow with the company until those milestones.

~~Our~~We ~~D2C~~are ~~system~~still is a ~~fully~~small ~~integrated~~early-stage ~~360°~~development ~~platform~~company ~~that~~with ~~allows~~minimal ~~marketing,~~revenues ~~analytics~~ and ~~e-commerce~~limited ~~functionality~~cash ~~wrapped~~on ~~around~~hand. anWe ~~industry-specific~~have ~~directory~~sustained ~~listing~~losses ~~platform.~~since ~~The~~inception ~~analytical~~and ~~data~~have ~~provides~~relied ~~insight~~upon loans from ~~multiple~~directors ~~channels~~and toofficers ~~facilitate~~and ~~successful~~the ~~marketing~~sale ~~decisions~~of ~~based~~our onsecurities afor ~~client’s~~funding. ~~entire~~We ~~business~~have ~~performance.~~never declared bankruptcy, been in receivership, or been involved in any kind of legal proceeding.

15Marketing, ~~Table~~Advertising, ofand ~~Contents~~Promotion

~~Based~~We onbelieve ~~these~~that ~~analytics,~~our ~~the~~systems ~~system~~will ~~can~~become ~~immediately~~one ~~deploy~~of ~~personalization~~our ~~and~~most ~~optimization~~important ~~independently,~~assets. ~~and~~Our ~~enhance~~ability ~~understanding~~to ofsuccessfully ~~how~~create ~~customer~~brand ~~interactions~~awareness ~~vary~~is ~~across~~dependent ~~different~~upon ~~regions~~our ability to address the changing needs and priorities of each brand’s target customers. ~~Furthermore~~To that end, we plan to focus much of our ~~infrastructure~~marketing isefforts ~~designed~~to recruit partners. We will then apply our methodologies to ~~take~~better ~~advantage~~understand oftheir ~~growth~~customers ~~opportunities~~and ~~with~~their ~~minimal~~needs ~~additional~~and ~~costs~~ensure we align our brand messages in the marketing, and the channels through which we deliver these messages, to the target customers.

~~Since~~Results ~~September 2022, the Company has been actively engaged in soliciting and identifying clients in across a broad spectrum~~ of industries. It has also been engaged in several marketing activities to attract partners, clients and beta testers who are providing valuable feedback in order for us to ensure our system meets their needs and expectations. Operations

The ~~Company~~following isdiscussion ~~also~~should ~~looking~~be toread ~~provide~~in ~~its~~conjunction ~~marketplace~~with ~~platform~~our toconsolidated ~~the~~audited ~~pet~~financial ~~care~~statements and ~~spirit~~the ~~industries~~related innotes ~~the~~that ~~United~~appear ~~States~~elsewhere ~~and~~in ~~the~~this ~~United~~annual ~~Kingdom~~report. The ~~Company~~following isdiscussion ~~also~~contains ~~engaging~~forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in athe ~~full~~forward ~~array~~looking ofstatements. ~~marketing~~Factors ~~activities~~that ~~including~~could ~~social~~cause ~~media,~~or ~~attending~~contribute ~~trade~~to ~~shows~~such ~~and~~differences ~~fairs~~include, ~~online~~but ~~conferences~~are not limited to, ~~and~~those ~~utilizing~~discussed ~~identified~~below ~~experts~~and elsewhere in ~~affiliate~~this ~~marketing,~~annual ~~pay-per-click,~~report. ~~organic,~~Our ~~search,~~consolidated ~~engine,~~audited ~~optimization,~~financial statements are stated in United States Dollars and ~~social~~are ~~media~~prepared ~~marketing~~in toaccordance ~~promote~~with ~~D2C~~United ~~commerce~~States Generally Accepted Accounting Principles.

OnThe ~~December~~following ~~29,~~summary ~~2022,~~of ~~the~~our ~~Company~~results ~~entered~~of ~~into~~operations ashould ~~software~~be ~~license~~read ~~agreement~~in conjunction with ~~Noise~~our ~~Comms~~financial ~~Ltd.~~statements for the ~~acquisition~~three ofmonths aended ~~Unified~~June ~~Communications~~30, ~~Platform~~2024, which ~~enables~~are ~~multi-party~~included ~~communications~~herein. ~~between~~Our ~~brands~~operating ~~and~~results ~~consumers~~for inthe ~~consideration~~three ofmonths 20ended June 30,~~000~~ 2024 and June 30,~~000~~ ~~shares~~2023 ofand ~~common~~the ~~stock~~changes ~~valued~~between atthose ~~$258,000.~~periods for the respective items are summarized as follows:

	Three Months Ended
	June 30,						Change			Change
	2024			2023			Amount			Percentage
Revenue	$	18,817		$	-		$	18,817			100	%
Operating expenses		41,651			112,180			(70,529	)		-63	%
Loss from operations		(22,834	)		(112,180	)		89,346			-80	%
Other expenses		(23,594	)		(34,066	)		10,472			-31	%
Net Loss	$	(46,428	)	$	(146,246	)	$	99,818			-68	%

WeNet ~~are~~loss ~~still~~decreased afrom ~~small~~$146,246 ~~early-stage~~for ~~development~~the ~~company~~three ~~with~~months ~~minimal~~ended ~~revenues~~June ~~and~~30, ~~limited~~2023 ~~cash~~to on$46,428 ~~hand.~~for Wethe ~~have~~three ~~sustained~~months ~~losses~~ended ~~since~~June ~~inception~~30, ~~and~~2024 ~~have~~due ~~relied~~to ~~upon loans from directors and officers and~~ the ~~sale~~increase ofin ~~our securities for funding. We have never declared bankruptcy~~revenue, ~~been~~decrease in ~~receivership,~~operating orexpenses ~~been~~and ~~involved~~decrease in ~~any~~other ~~kind of legal proceeding~~expenses.

~~Marketing~~During the three months ended June 30, ~~Advertising~~2024, ~~and~~we ~~Promotion~~generated $18,817 in revenue. For the three months ending June 30, 2023 we did not generate revenues.

WeOperating ~~believe~~expense ~~that~~decreased ~~our~~from ~~systems~~$112,180 ~~will~~for ~~become~~the ~~one~~three ofmonths ~~our~~ended ~~most~~June ~~important~~30, ~~assets.~~2023 ~~Our ability~~ to ~~successfully~~$41,651 ~~create~~for ~~brand awareness is dependent upon our ability to address~~ the ~~changing~~three ~~needs~~months ~~and~~ended ~~priorities~~June ~~of each brand’s target customers. To that end~~30, we2024 ~~plan~~due to ~~focus~~the ~~much~~decrease ofin ~~our~~software ~~marketing efforts to recruit partners. We will then apply our methodologies to better understand their customers~~ and ~~their~~website ~~needs~~development ~~and~~cost ~~ensure we align our brand messages in the marketing,~~ and ~~the~~professional ~~channels through which we deliver these messages, to the target customers~~fees.

~~Results~~During the three months ended June 30, 2024, the Company incurred other expenses of ~~Operations~~$23,594 as compared to $34,066 during the three months ended June 30, 2023, mainly consist of debt issuance cost of $13,333 and $33,333, respectively.

~~Three~~15 ~~Months~~Table ~~Ended~~of ~~December 31, 2023 Compared to Three Months Ended December 31, 2022~~Contents

	Three Months Ended
	December 31,						Change			Change
	2023			2022			Amount			Percentage
Revenue	$	521		$	-		$	521			100	%
Operating expenses	$	77,869		$	102,956		$	(25,087	)		-24	%
Loss from operations		(77,348	)		(102,956	)		25,608			-25	%
Other expenses		(38,540	)		(73,611	)		35,071			-100	%
Net Loss	$	(115,888	)	$	(176,567	)	$	60,679			-34	%

Liquidity and Financial Condition

~~Net~~Working ~~loss~~Capital ~~decreased from $176,567 for the three months ended December 31, 2022 to $115,888 for the three months ended December 31, 2023 due to the decrease in operating expenses and other expenses.~~(Deficiency)

We started to recognize revenue beginning from the three months ended December 31, 2023. During the three months ended December 31, 2023, we recognized revenue of $521 from online ecommerce service.

	June 30, 2024			March 31, 2024
Current Assets	$	219,741		$	233,716
Current Liabilities		970,522			947,035
Working Capital (Deficiency)	$	(750,781	)	$	(713,319	)

~~Operating~~Cash expenses for the three months ended December 31, 2023 and 2022 consisted of audit and accounting fees, software development expense, legal fees, transfer agent fees and consulting fees. The decrease in operating expenses were primarily a result of a decrease in development activities.Flow

During the three months ended December 31, 2023, the Company incurred other expenses of $38,540, primarily consisting of debt issuance cost of $38,199.

	Three Months Ended
	June 30,
	2024			2023
Cash used in Operating Activities	$	(34,587	)	$	(43,739	)
Cash used in Investing Activities		-			(7,305	)
Cash provided by Financing Activities		20,000			53,900
Effects on changes in foreign exchange rate		(392	)		(4,176	)
Net changes in cash during period	$	(14,979	)	$	(1,320	)

16Our ~~Table~~total current assets as of ~~Contents~~June 30, 2024 were as $219,741 compared to total current assets of $233,716 as of March 31, 2024. The decrease was primarily due to a decrease in cash.

~~Nine~~Our ~~Months~~total ~~Ended~~current ~~December~~liabilities 31as of June 30, ~~2023~~2024 ~~Compared~~were $970,522 as compared to ~~Nine~~total ~~Months~~current ~~Ended~~liabilities ~~December~~of $947,035 as of March 31, ~~2022~~2024. The increase was mainly attributed by the increase in convertible notes and accrued interest payable.

	Nine Months Ended
	December 31,						Change			Change
	2023			2022			Amount			Percentage
Revenue	$	521		$	-		$	521			100	%
Operating expenses	$	255,851		$	139,403			116,448			84	%
Loss from operations		(255,330	)		(139,403	)		(115,927	)		83	%
Other expenses		(188,190	)		(73,611	)		(114,579	)		100	%
Net Loss	$	(443,520	)	$	(213,014	)	$	(230,506	)		108	%

Working capital deficiency increased from $713,319 as of March 31, 2024 to $750,781 as of June 30, 2024 mainly due to the decrease in cash and the increase in convertible notes and accrued interest payable.

~~Net~~The ~~loss~~report ~~increased~~of ~~from~~our ~~$213,014~~auditors on our audited financial statements for the ~~nine~~fiscal ~~months~~year ended ~~December~~March 31, ~~2022~~2024, tocontains ~~$443,520~~a ~~for~~going ~~the~~concern ~~nine~~qualification ~~months~~as ~~ended~~we ~~December~~have ~~31,~~suffered ~~2023~~losses ~~due~~since toour ~~the~~inception. ~~increase~~We inhave no operating ~~expenses~~revenues. We have been dependent on sales of equity securities and ~~other~~debt ~~expenses~~financing to conduct operations. The Company’s ability to continue as a going concern is dependent on its ability to raise additional capital and implement its business plan.

WeOperating ~~started~~Activities ~~to recognize revenue beginning from the three months ended December 31, 2023. During the three months ended December 31, 2023, we recognized revenue of $521 from online ecommerce service.~~

~~Operating~~For ~~expenses for~~ the ~~nine~~three months ended ~~December~~June 3130, ~~2023~~2024, ~~and~~net ~~2022~~cash ~~consisted~~used ofin ~~audit~~operating ~~and~~activities ~~accounting~~was ~~fees~~$34,587 ~~software~~related ~~development~~to ~~expense,~~our ~~legal~~net ~~fees~~loss ~~and~~of ~~consulting~~$46,427, ~~fees.~~decreased ~~The~~by ~~increase~~amortization inof ~~operating~~$9,214 ~~expenses~~and ~~was~~loss ~~primarily~~on aconvertible ~~result~~notes of an$13,333 ~~increase~~and inincreased ~~development~~by ~~activities,~~net ~~audit~~changes ~~fees,~~in ~~legal~~operating ~~fees~~assets and ~~consulting~~liabilities ~~fees.~~of $10,707.

~~During~~For the ~~nine~~three months ended ~~December~~June 3130, 2023, ~~the~~net ~~Company~~cash ~~incurred~~used ~~other~~in ~~expenses~~operating activities was $43,739, related to our net loss of $~~188~~146,~~190~~246, ~~primarily~~decreased ~~consisting~~by loss on convertible notes of ~~debt~~$33,333 ~~issuance~~and ~~cost~~net changes in operating and liabilities of $~~170~~69,~~200~~175.

~~Liquidity~~Investing ~~and Financial Condition~~Activities

Working Capital (Deficiency)
	December 31, 2023			March 31, 2023
Current Assets	$	213,085		$	8,292
Current Liabilities		842,858			391,054
Working Capital (Deficiency)	$	(629,773	)	$	(382,762	)

For the three months ended June 30, 2024, we didn’t have any investing activities.

~~Our~~For ~~total~~the ~~current~~three ~~assets~~months asended ofJune ~~December 31~~30, 2023 ~~were as $213~~,~~085~~ ~~compared~~net tocash ~~total~~used ~~current~~in ~~assets~~investing ofactivities was $87,~~292~~305 asfor ofloan ~~March~~advancement ~~31, 2023. The increase is primarily due~~ to ~~the~~an ~~deferred~~unaffiliated ~~business acquisition cost~~company.

~~Our~~Financing total current liabilities as of December 31, 2023 were $842,858 as compared to total current liabilities of $391,054 as of March 31, 2023. The increase was attributed by the increase in convertible notes, promissory notes and due to related parties.Activities

~~Working~~For ~~capital~~the ~~deficiency~~three ~~increased~~months ~~from~~ended ~~$382~~June 30,~~762~~ ~~as of March 31~~2024, ~~2023~~net tocash ~~$629,773~~used asin offinancing ~~December~~activities 31was $20,000 ~~2023~~from ~~mainly~~proceeds ~~due~~from toissuance ~~the~~of ~~increase in~~ convertible notes, ~~accounts~~of ~~payable and accrued liabilities and accrued interest payable.~~$20,000

~~The~~For ~~report of our auditors on our audited financial statements for~~ the ~~fiscal~~three ~~year~~months ended ~~March~~June 3130, 2023, ~~contains~~net acash ~~going~~used ~~concern~~in ~~qualification~~financing asactivities wewas ~~have~~$53,900 ~~suffered~~from ~~losses~~proceeds ~~since~~from ~~our~~issuance ~~inception.~~of Wepromissory ~~have~~note ~~minimal~~of ~~assets~~$3,900 and ~~have~~proceeds ~~achieved~~from ~~limited~~issuance ~~operating~~of ~~revenues~~convertible ~~since~~notes ~~our inception. We have been dependent on sales~~ of ~~equity securities to conduct operations. Unless and until we commence material operations and achieve material revenues~~$50, ~~we will remain dependent on financings to continue our operations~~000.

	Nine Months Ended
	December 31,
	2023			2022
Cash used in Operating Activities	$	(212,200	)	$	(88,900	)
Cash used in Investing Activities		(41,054	)		-
Cash provided by Financing Activities		259,200			136,976
Effects on changes in foreign exchange rate		(5,722	)		(1,707	)
Net changes in cash during period	$	224		$	46,369

Table of Contents

17Off-Balance ~~Table~~Sheet ~~of Contents~~Arrangements

~~Operating~~We ~~Activities~~have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to stockholders.

~~For~~Critical ~~the~~Accounting nine months ended December 31, 2023, net cash used in operating activities was $212,200, related to our net loss of $443,520, decreased by debt issuance costs of $170,200 And net changes in operating assets and liabilities of $61,120.Policies

~~For~~Critical ~~the~~Accounting ~~nine~~Policies ~~months ended December 31, 2022, net cash used in operating activities was $88,900, related to our net loss of $213,014, decreased by debt issuance costs of $73,333~~ and ~~net~~Significant ~~changes~~Judgments ~~in operating assets~~ and ~~liabilities of $50,781.~~Estimates

~~Investing~~The ~~Activities~~preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of income and expense during the reporting periods presented.

~~For~~Our ~~the~~critical ~~nine~~estimates ~~months~~include ~~ended~~revenue ~~December~~recognition ~~31,~~and ~~2023~~intangible assets. Although we believe that these estimates are reasonable, ~~net~~actual ~~cash~~results ~~used~~could bydiffer ~~financing~~from ~~activities~~those ~~was~~estimates ~~$41~~given a change in conditions or assumptions that have been consistently applied. We also have other policies that we consider key accounting policies,~~054~~ such as our policy for ~~advancement~~revenue onrecognition, ~~loan~~however, ~~receivable~~the application of these policies does not require us to make significant estimates or judgments that are difficult or subjective.

WeThe ~~did~~critical ~~not~~accounting ~~use~~policies ~~any~~used ~~funds~~by ~~for~~management ~~investing~~and ~~activities~~the methodology for ~~the~~its ~~nine~~estimates ~~months~~and ~~ended~~assumptions ~~December~~are ~~31,~~as ~~2022.~~follows:

~~Financing~~Convertible ~~Activities~~Financial Instruments

~~For~~We ~~the~~bifurcate ~~nine~~conversion ~~months~~options ~~ending~~from ~~December~~their ~~31,~~host ~~2023,~~instruments ~~net~~and ~~cash~~accounts ~~used~~for bythem ~~financing~~as ~~activities~~free ~~was~~standing ~~$259,200~~derivative ~~from~~financial ~~issuance~~instruments ofif certain criteria are met. The criteria include circumstances in which (a) ~~promissory~~the ~~note~~economic characteristics and risks of ~~$3,900~~the embedded derivative instrument are not clearly and ~~issuance~~closely ofrelated ~~convertible~~to ~~notes~~the economic characteristics and risks of ~~$255~~the host contract,~~300~~ (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. An exception to this rule is when the host instrument is deemed to be conventional, as that term is described under applicable GAAP.

~~For~~When ~~the~~we ~~nine~~have ~~months~~determined ~~ending~~that ~~December~~the ~~31,~~embedded ~~2022,~~conversion ~~net~~options ~~cash~~should ~~used~~not bybe ~~financing~~bifurcated ~~activities~~from ~~was~~their ~~$136~~host instruments,~~976~~ ~~from~~discounts ~~issuance~~are ofrecorded afor ~~promissory~~the ~~note~~intrinsic value of ~~$25,000,~~conversion ~~issuance~~options embedded in the instruments based upon the differences between the fair value of ~~convertible~~the ~~notes~~underlying Common Stock at the commitment date of ~~$110,000~~the transaction and ~~advancement~~the ~~from~~effective ~~related~~conversion ~~party~~price ofembedded ~~$1,976~~in the instrument.

Cash Requirements

We will require additional cash as we expand our business. Initially, to carry out our business plan, we will need to raise additional capital. There can be no assurance that we will be able to raise additional capital or, if we are able to raise additional capital, the terms we be acceptable to us. Currently we do not have any inventory.

These conditions indicate a material uncertainty that casts significant doubt about our ability to continue as a going concern. We require additional debt or equity financing to have the necessary funding to continue operations and meet our obligations. We have continued to adopt the going concern basis of accounting in preparing our financial statements.

We will require additional financing in order to enable us to proceed with our plan of operations. There is no assurance that any party will advance additional funds to us in order to continue our future plans for operations.

We anticipate continuing to rely on equity sales of our common stock in order to continue to fund our business operations. Issuances of additional shares will result in dilution to our existing stockholders. There is no assurance that we will achieve any additional sales of our equity securities or arrange for debt or other financing to fund our planned business activities.

Off-Balance Sheet Arrangements

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

Critical Accounting Policies

Basis of Presentation

The financial statements are prepared in accordance with generally accepted accounting principles used in the United States of America (“US GAAP”).

Use of Estimates

In preparing financial statements in conformity with US GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the financial statements, as well as the reported amounts of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those estimates.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash on hand and highly liquid short-term deposits which are unrestricted as to withdrawal and use, and which have maturities of three months or less when purchased.

18 Table of Contents

Fair Value of Financial Instruments

ASC 820, “Fair Value Measurements and Disclosures”, defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows:

Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.

Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value.

Our Company’s financial instruments include cash and cash equivalents and accrued liabilities. It is management’s opinion that the carrying values are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and if applicable, their stated interest rate approximates current rates available.

Management believes it is not practical to determine the fair value of accounts payable and accrued liabilities, and note payable to related parties and lease and management arrangement with related parties, if any, because the transactions cannot be assumed to have been consummated at arm’s length, the terms are not deemed to be market terms, there are no quoted values available for these instruments, and an independent valuation would not be practical due to the lack of data regarding similar instruments, if any, and the associated potential costs.

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

Recently Accounting Pronouncements

In August 2020, the FASB issued ASU 2020-06, ASC Subtopic 470-20 “Debt—Debt with “Conversion and Other Options” and ASC subtopic 815-40 “Hedging—Contracts in Entity’s Own Equity”. The standard reduced the number of accounting models for convertible debt instruments and convertible preferred stock. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting; and, (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. The amendments in this update are effective for fiscal years beginning after December 15, 2021, 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 Company is currently assessing the impact of the adoption of this standard on its consolidated financial statements.

Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

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

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We are required to maintain “disclosure controls and procedures” as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934. In designing and evaluating our disclosure controls and procedures, our management recognized that disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of disclosure controls and procedures are met. Additionally, in designing disclosure controls and procedures, our management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible disclosure controls and procedures. The design of any disclosure controls and procedures also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Based on her evaluation as of the end of the period covered by this report, Meriesha Rennalls, our President, Chief Operating Officer, Secretary and Director, has concluded that our disclosure controls and procedures were not effective such that the information relating to our company, required to be disclosed in our Securities and Exchange Commission reports (i) is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms and (ii) is accumulated and communicated to our management, to allow timely decisions regarding required disclosure as a result of continuing material weaknesses in our internal control over financial reporting.

As disclosed in our Quarterly Report on Form 10-Q for the three months ended ~~December~~June 3130, ~~2023~~2024, based on management’s assessment of the effectiveness of our internal controls over financial reporting, management concluded that our internal controls over financial reporting were not effective as of ~~December~~June 3130, ~~2023~~2024, due to inadequate segregation of duties and ineffective risk management, and insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines. Management believes the above weakness constitute material weaknesses in our internal control over financial reporting. Until such time, if ever, that we remediate the material weakness in our internal control over financial reporting we expect that the material weaknesses in our disclosure controls and procedures will continue.

Changes in Internal Control over Financial Reporting

During the period covered by this report there were no changes in our internal control over financial reporting that materially affected, or are reasonable likely to materially affect, our internal control over financial reporting.

1917 Table of Contents

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

From time to time, we may become involved in litigation relating to claims arising out of its operations in the normal course of business. We are not involved in any pending legal proceeding or litigation and, to the best of our knowledge, no governmental authority is contemplating any proceeding to which we area party or to which any of our properties is subject, which would reasonably be likely to have a material adverse effect on us.

Item 1A. Risk Factors

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

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

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not Applicable.

Item 5. Other Information

None.

Item 6. Exhibits

Exhibit Number		Description of Exhibits

31.1		Certification by the Principal Executive Officer
32.1		Certification by the Principal Executive Officer

2018 Table of Contents

SIGNATURES

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

	CARO HOLDINGS INC.
	(Registrant)
Dated: February 26, 2024	/s/ Christopher McEachnie
Dated: August 8, 2024	/s/ Christopher McEachnie
	Christopher McEachnie
	Christopher McEachnieChief Executive Officer(Principal Executive Officer)
	Chief Executive Officer
	(Principal Executive Officer)

2119

Filing Compare · Caro Holdings Inc.