UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

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

For the quarterly period ended ~~June~~ September 30, 2022

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

For the transition period from ______________ to _____________

Commission file number: 333-~~177792~~197889

THE TEARDROPPERS, INC.

(~~Name~~Exact name of ~~registrant~~small business issuer as specified in its charter)

Nevada	20-4168979
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)
620 Newport Center Drive Suite 1100 PMB 488 Newport Beach, CA. 92660	92660
(Address of principal executive offices)	(Zip Code)

620 Newport Center Drive Suite 1100 PMB 488

Newport Beach, CA 92660

(Address of principal executive offices)

949-751-2173

(Issuer’s telephone number)

_______________________________________________

(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	N/A	N/A

~~Indicate~~Securities byregistered ~~check~~pursuant ~~mark whether the registrant (1) filed all reports required~~ to ~~be filed by~~ Section ~~13 or 15~~12(dg) 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 ☐None

Check whether the issues (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for 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 ☒

There were 183,~~650~~ 680 shares of the registrant’s common stock, $0.001 par value per share, outstanding on ~~August~~November 815, 2022.

THE TEARDROPPERS, INC.

TABLE OF CONTENTS

		~~Page~~	Page
Part I – FINANCIAL INFORMATION
~~Item 1.~~	~~Condensed~~Item ~~Unaudited Financial Statements:~~1.	3Unaudited Financial Statements:	3
	Condensed Balance Sheets at June 30, 2022 (unaudited) and December 31, 2021 (audited)	3
		Balance Sheets at September 30, 2022 (unaudited) and December 31, 2021	3
	Condensed Statements of Operations for the three and six months ended June 30, 2022 and 2021 (unaudited)	4
		Statements of Operations for the three and nine months ended September 30, 2022 and 2021 (unaudited)	4
	Condensed Statements of Shareholders’ Deficit for the three and six months ended June 30, 2022 and June 30, 2021 (unaudited)	5
		Statements of Changes in Stockholders’ Deficit for the three and nine months ended September 30, 2022 and 2021 (unaudited)	5
	Condensed Statements of Cash Flows for the six month ended June 30, 2022 and June 30, 2021 (unaudited)	6
		Statements of Cash Flows for the nine months ended September 30, 2022 and 2021 (unaudited)	6
	Notes to Condensed Financial Statements (unaudited)	7
		Condensed Notes to Financial Statements (unaudited)	7
~~Item 2.~~	~~Management’s~~Item ~~Discussion and Analysis of Financial Condition and Results of Operations~~2.	15Management’s Discussion and Analysis of Financial Condition and Results of Operations	15
~~Item 3.~~	~~Quantitative~~Item ~~and Qualitative Disclosures About Market Risk~~3.	17Quantitative and Qualitative Disclosures About Market Risk	17
~~Item 4.~~	~~Controls~~Item ~~and Procedures~~4.	17Controls and Procedures	17
Part II – OTHER INFORMATION			18
~~Item 1.~~	~~Legal~~Item ~~Proceedings~~1.	18Legal Proceedings	18
~~Item 2.~~	~~Unregistered~~Item ~~Sales of Equity Securities and Use of Proceeds~~2.	18Unregistered Sales of Equity Securities and Use of Proceeds	18
~~Item 3.~~	~~Defaults~~Item ~~Upon Senior Security~~3.	18Defaults Upon Senior Security	18
~~Item 4.~~	~~Mine~~Item ~~Safety Disclosures~~4.	18Mine Safety Disclosures	18
~~Item 5.~~	~~Other~~Item ~~Information~~5.	18Other Information	18
~~Item 6.~~	~~Exhibits~~Item 6.	18Exhibits	18
	~~Signatures~~	19Signatures	19

PART I – FINANCIAL INFORMATION

ITEM 1. ~~Condensed~~ Unaudited Financial Statements

The Teardroppers, Inc.

~~CONDENSED~~ BALANCE SHEETS

	June 30,			December 31,
	September 30, 2022			December 31, 2021
	2022			2021
	(unaudited)
		(Unaudited)
ASSETS
Current assets
Cash	$	3511,~~122~~309		$	29,158
Lease receivable – related parties (current portion)		62,150			54,309
Lease receivable – related party (current portion)		199,509			54,309
Interest receivable – related parties		2,096			1,053
Interest receivable - related parties		987			1,053
Total current assets		99211,~~368~~805			84,520
Property & Equipment:
Property and equipment:
Cost		129,114			129,114
Less accumulated depreciation		(99102,~~499~~705	)		(90,088	)
Property & Equipment, net		29,615			39,026
Property and equipment, net		26,409			39,026
Lease receivable – related party (net)		86559,~~871~~583			116,178
Total Assets	$	~~215~~797,~~854~~797		$	239,724
LIABILITIES & STOCKHOLDERS' DEFICIT
Current liabilities
Accounts payable – unrelated parties	$	~~378~~392,~~425~~125		$	358,625
Accounts payable – related parties		~~515~~561,~~370~~376			453,176
Customer deposits		14,500			14,500
Current portion of notes payable		6,~~030~~204			5,695
Accrued interest – unrelated parties		1,005			1,051
Accrued interest payable – unrelated parties		981			1,051
Line of credit from related party		1,174,551			1,104,060
Note payable – related party		137,150			–
Accrued interest payable – related parties		382,261			326,224
Line of credit from related party		1,141,642			1,104,060
Total current liabilities		2,472,142			2,263,331
Accrued interest payable-related parties		410,608			326,224
Long term liability
Total current liabilities		2,664,586			2,263,331
Note payable		54,466			57,516
Long-term liabilities
Total Liabilities		2,526,608			2,320,847
Note payable		52,882			57,516
Contingencies and Commitments (Note 10)
Note payable – related party		490,542			–
Total Long-term liabilities		543,424			57,516
Total Liabilities		3,208,010			2,320,847
Commitments and Contingencies (Note 11)		–			–
Stockholders' Deficit
Preferred stock, par value $0.001, authorized 20,000,000 shares, issued shares 0, respectively		–			–
Preferred stock, par value $0.001, 20,000,000 shares authorized, 0 shares issued shares and outstanding, respectively		–			–
Common stock, par value $0.001, authorized 200,000,000 shares issued 183,680		184			184
Common stock, par value $0.001, 200,000,000 shares issued 183,680		184			184
Additional paid in capital		874,294			874,294
Accumulated deficit		(3,~~185~~284,~~232~~691	)		(2,955,601	)
Total Stockholders' Deficit		(2,~~310~~410,~~754~~213	)		(2,081,123	)
Total Liabilities and Stockholders' Deficit	$	~~215~~797,~~854~~797		$	239,724

The accompanying condensed notes are an integral part of the ~~condensed~~ unaudited financial statements.

The Teardroppers, Inc.

~~CONDENSED~~ STATEMENTS OF OPERATIONS

(UNAUDITED)

	Three Months Ended						~~Six~~Nine Months Ended
	June 30,			June 30,			June 30,			June 30,
	September 30,			September 30,			September 30,			September 30,
	2022			2021			2022			2021
Revenues
Lease revenue – unrelated parties	$	–		$	1,275		$	–		$	23,~~550~~825
Lease revenue – related parties		–			–			–			12,000
Total revenue		–			1,275			–			1415,~~550~~825
Operating expenses:
Consulting from related parties		36,000			5136,000			79115,500			87123,000
Consulting fees – unrelated parties		5,000			10,000			1015,000			3242,500
General and administrative		27,~~228~~386			31,~~853~~854			6593,~~834~~221			87118,~~029~~883
Professional fees		95,~~300~~700			5,700			2531,~~493~~193			2329,~~813~~513
Total operating expenses		7774,~~528~~086			9883,~~553~~554			~~180~~254,~~827~~914			~~230~~313,~~342~~896
Operating loss		(7774,~~528~~086	)		(9282,~~278~~279	)		(~~180~~254,~~827~~914	)		(~~215~~298,~~792~~071	)
Other income (expense):
Interest expense – related parties		(2841,~~478~~221	)		(2725,~~014~~382	)		(5697,~~037~~258	)		(4974,~~597~~979	)
Interest expense – unrelated parties		(1,~~512~~477	)		(1,~~645~~616	)		(34,~~059~~536	)		(34,~~321~~937	)
Gain on sale of asset – related party		–			25,595			–			25,595
Gain on sale of asset		–			–			–			25,595
Interest income - related parties		4,920			6,632			10,292			13,655
Interest income – related parties		17,325			6,224			27,618			19,879
Total other income (expense)		(25,~~070~~373	)		3(20,~~568~~774	)		(4874,~~804~~176	)		(1334,~~668~~442	)
Net Loss Before Taxes		(102,598	)		(93,710	)		(229,631	)		(229,460	)
Net loss before taxes		(99,459	)		(103,053	)		(329,090	)		(332,513	)
Income Tax Provision		–			–			–			–
Net loss	$	(~~102~~99,~~598~~459	)	$	(93103,~~710~~053	)	$	(~~229~~329,~~631~~090	)	$	(~~229~~332,~~460~~513	)
Net loss per share
Basic*	$	(0.56	)	$	(0.51	)	$	(1.25	)	$	(1.25	)
(Basic and fully diluted)	$	(0.54	)		(0.56	)	$	(1.79	)		(1.81	)
Fully diluted	$	(0.56	)	$	(0.51	)	$	(1.25	)	$	(1.25	)
Weighted average number of common shares outstanding – basic and diluted		183,680			183,680			183,680			183,680
Weighted average number of common shares outstanding - Basic		183,680			183,680			183,680			183,680
Weighted average number of common shares outstanding - Diluted		183,680			183,680			183,680			183,680

The accompanying condensed notes are an integral part of the ~~condensed~~ unaudited financial statements.

The Teardroppers, Inc.

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

FOR THE THREE AND ~~SIX~~NINE MONTHS ENDED ~~JUNE~~ SEPTEMBER 30, 2022 AND 2021

(UNAUDITED)

	Common Stock				~~Additional~~					Total
			Amount		~~Paid in~~Additional		Accumulated			Stockholders’'
	Shares		($.001 Par)		Paid in Capital		Deficit			Deficit
Balance December 31, 2021		183,680	$	184	$	874,294	$	(2,955,601	)	$	(2,081,123	)
Net loss for the period		–		–		–		(127,033	)		(127,033	)
Balance March 31, 2022		183,680		184		874,294		(3,082,634	)		(2,208,165	)
Balances March 31, 2022		183,680		184		874,294		(3,082,634	)		(2,208,156	)
Net loss for the period		–		–		–		(102,598	)		(102,598	)
Balance June 30, 2022		183,680	$	184	$	874,294	$	(3,185,232	)	$	(2,310,754	)
Net loss for the period		–		–		–		(99,459	)		(99,459	)
Balances September 30, 2022		183,680	$	184	$	874,294	$	(3,284,691	)	$	(2,410,213	)
Balance December 31, 2020		183,680	$	184	$	874,294	$	(2,496,953	)	$	(1,622,475	)
Net loss for the period		–		–		–		(135,750	)		(135,750	)
Balances March 31, 2021		183,680		184		874,294		(2,632,703	)		(1,758,225	)
Net loss for the period		–		–		–		(93,710	)		(93,710	)
Balances June 30, 2021		183,680		184		874,294		(2,726,413	)		(1,851,935	)
Net loss for the period		–		–		–		(103,053	)		(103,053	)
Balances September 30, 2021		183,680	$	184	$	874,294	$	(2,829,466	)	$	(1,954,988	)

Balance December 31, 2020	183,680	$	184	$	874,294	$	(2,496,953	)	$	(1,622,475	)
Net loss for the period	–		–		–		(135,750	)		(135,750	)
Balance March 31, 2021	183,680		184		874,294		(2,632,703	)		(1,758,225	)
Net loss for the period	–		–		–		(93,710	)		(93,710	)
Balance June 30, 2021	183,680	$	184	$	874,294	$	(2,726,413	)	$	(1,851,935	)

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

~~The accompanying notes are an integral part of the condensed unaudited financial statements.~~5

5The Teardroppers, Inc.

~~The~~STATEMENTS ~~Teardroppers,~~OF ~~Inc.~~CASH FLOWS

~~CONDENSED STATEMENTS OF CASH FLOWS~~(UNAUDITED)

(UNAUDITED)


	Nine Months Ended
	September 30,			September 30,
	2022			2021

Cash Flows From Operating Activities:
Net loss	$	(329,090	)	$	(332,513	)

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		12,617			30,778
Gain on sale of asset		–			(25,595	)

Changes in Operating Assets and Liabilities
Decrease (Increase) in interest receivable - related parties		66			(3,089	)
Decrease in prepaid expenses		–			4,072
Decrease in lease receivable - related parties		60,395			28,934
Increase in other receivable		–			(2,000	)
Increase in accounts payable - unrelated parties		108,200			38,070
Increase in accounts payable - related parties		33,500			49,887
Increase in accrued interest-related parties		84,384			72,138
(Decrease) Increase in accrued interest - unrelated party		(70	)		1,594
Net cash (used in) operating activities		(29,998	)		(137,724	)
.
Cash Flows From Investing Activities:
Purchase of equipment		(649,000	)		(36,113	)
Sale of asset		–			75,095
Net cash used in provided by investing activities		(649,000	)		38,982

Cash Flows From Financing Activities:
Proceeds from note payable - related party		649,000			–
Repayments on notes payable - related parties		(21,308	)		(83,679	)
Repayments on note payable - unrelated party		(4,125	)		(2,484	)
Principal payments on lease payable		–			(1,192	)
Proceeds from lines of credit - related parties		127,600			352,744
Repayments on lines of credit related parties		(90,018	)		(142,177	)
Net cash provided by financing activities		661,149			123,212

Net Increase (Decrease) In Cash		(17,849	)		24,470

Cash At The Beginning Of The Period		29,158			49,473

Cash At The End Of The Period	$	11,309		$	73,943

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

Non-cash investing and financing activities
Assets transferred in direct financing lease	$	649,000		$	–

Cash paid during the year for:
Interest	$	17,480		$	6,182
Franchise and income tax	$	–		$	–

	Six Months Ended
	June 30,			June 30,
	2022			2021
Cash Flows From Operating Activities:
Net loss	$	(229,631	)	$	(229,460	)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation		9,411			23,068
Gain on sale of asset		–			(25,595	)
Changes in Operating Assets and Liabilities
Increase in interest receivable – related parties		(1,043	)		(1,601	)
Decrease in prepaid expenses		–			4,072
Decrease in lease receivable – related party		21,466			18,662
Increase in other receivable		–			(2,000	)
Increase in accounts payable – unrelated parties		62,194			24,370
Increase in accounts payable – related parties		19,800			16,657
Increase in accrued interest – related parties		56,037			46,756
Decrease in accrued interest – unrelated party		(46	)		(21	)
Net cash used in operating activities		(61,812	)		(125,092	)
Cash Flows From Investing Activities:
Purchase of asset		–			(36,113	)
Sale of asset		–			75,095
Net cash provided by investing activities		–			38,982
Cash Flows From Financing Activities:
Repayments on notes payable – related party		–			(83,679	)
Repayments on note payable – unrelated party		(2,715	)		(2,484	)
Principal payments on lease payable		–			(1,192	)
Proceeds from lines of credit – related parties		110,500			258,744
Repayments on line of credit related party		(40,009	)		(126,168	)
Net cash provided by financing activities		67,776			45,221
Net Increase (Decrease) In Cash		5,964			(40,889	)
Cash At The Beginning Of The Period		29,158			49,473
Cash At The End Of The Period	$	35,122		$	8,584
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the period for:
Interest	$	3,105		$	6,182
Franchise and income tax	$	–		$	–

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

~~The accompanying notes are an integral part of the condensed unaudited financial statements~~ 6

6THE TEARDROPPERS, INC.

~~THE~~CONDENSED ~~TEARDROPPERS,~~NOTES ~~INC.~~TO FINANCIAL STATEMENTS (Unaudited)

~~CONDENSED~~For ~~NOTES~~the TOThree ~~FINANCIAL~~and ~~STATEMENTS~~Nine ~~(UNAUDITED)~~Months Ended September 30, 2022 and 2021

~~For~~NOTE ~~the~~1 ~~Three~~– ORGANIZATION ~~and~~AND ~~Six Months Ended June 30,~~DESCRIPTION ~~2022~~OF ~~and 2021~~BUSINESS

~~NOTE~~On 1June –3, ~~ORGANIZATION~~2013, ~~AND~~Teardroppers, ~~DESCRIPTION~~Inc. (the “Company”), OFwas ~~BUSINESS~~incorporated under the laws of the state of Nevada.

OnWe ~~June~~are 3,in ~~2013,~~the ~~Teardroppers~~business of mobile billboard advertising, providing ~~Inc.~~billboard ~~(the~~advertising space on custom designed “~~Company~~Teardrop Trailers”), and various sizes of cargo type trailers. Teardrop ~~was~~Trailers, ~~incorporated~~are ~~under~~usually ~~the~~designed ~~laws~~for ofshort-period ~~the~~accommodations ~~state~~for ofvacationers ~~Nevada~~and travelers. Teardrop Trailers are designed to be towed behind new and vintage vehicles and pickup trucks.

WeIn ~~are~~addition, inwe ~~the~~own ~~business~~cargo oftrailers ~~mobile~~with ~~billboard~~flat ~~advertising~~non ~~providing~~rivet ~~billboard~~panel ~~advertising~~siding ~~space~~that oncan ~~custom~~be ~~designed~~used ~~“Teardrop~~for ~~Trailers”~~hauling and ~~various~~transportation. ~~sizes~~These oftrailers ~~cargo~~range ~~type~~in ~~trailers.~~size ~~Teardrop Trailers,~~from ~~are~~15 ~~usually~~feet ~~designed~~to ~~for~~53 ~~short-period~~feet. ~~accommodations~~We ~~for~~lease ~~vacationers~~these trailers ~~and~~for ~~travelers.~~transportation ~~Teardrop~~of ~~Trailers~~goods ~~are~~and ~~designed~~for toadvertising beof ~~towed behind~~their ~~new~~respective ~~and~~business ~~vintage~~or ~~vehicles~~the ~~and~~businesses ~~pickup~~of ~~trucks~~lessee clients.

InOn ~~addition~~June 13, we2022, ~~own~~(the ~~cargo~~“Company”) ~~trailers~~filed with ~~flat~~the ~~non rivet~~Secretary ~~panel~~of ~~siding~~State ~~that~~of ~~can~~the beState ~~used~~of Nevada a Certificate of Change, pursuant to Nevada Revised Statutes 78.209, to (i) effect a one-for-250 ~~hauling~~reverse stock split (the “Reverse Split”) of the Company’s issued and ~~transportation~~outstanding common stock, par value $0.001 ~~These~~per ~~trailers~~share, ~~range~~on inJuly ~~size~~6, ~~from~~2022 15at ~~feet~~8:00 A:M Eastern Time (the “Effective Time”). The total number of shares of common stock that the Company shall have the authority to 53issue ~~feet~~will remain at 200,000,000. WeAs ~~lease~~a ~~these~~result ~~trailers~~of the one-for-250 ~~transportation~~reverse stock split (the “Reverse Stock Split”), at the Effective Time, each 250 shares of ~~goods~~the Company’s common stock issued and ~~for~~outstanding ~~advertising~~immediately prior to the Effective Time was automatically combined into and become one share of ~~their~~Company common ~~respective~~stock. ~~business~~Fractional orshares resulting from the ~~businesses~~reverse stock split were settled by cash payments. As of ~~lessee~~July ~~clients~~6, 2022, the total amount of common shares outstanding of the Company was 183,680. All share and per-share data and amounts have been retroactively adjusted as of the earliest period presented in the financial statements to reflect the reverse stock split.

OnNOTE ~~June 13,~~2 ~~2022, (the “Company”) filed with the Secretary of State of the State of Nevada a Certificate of Change, pursuant to Nevada Revised Statutes 78.209, to (i)~~– ~~effect~~SUMMARY aOF ~~one-for-250~~SIGNIFICANT ~~reverse~~ACCOUNTING stock split (the “Reverse Split”) of the Company’s issued and outstanding common stock, par value $0.001 per share, on July 6, 2022 at 8:00 A:M Eastern Time (the “Effective Time”). The total number of shares of common stock that the Company shall have the authority to issue will remain at 200,000,000. As a result of the one-for-250 reverse stock split (the “Reverse Stock Split”), at the Effective Time, each 250 shares of the Company’s common stock issued and outstanding immediately prior to the Effective Time was automatically combined into and become one share of Company common stock. Fractional shares resulting from the reverse stock split were settled by cash payments. As of July 6, 2022, the total amount of common shares outstanding of the Company was 183,680. All share and per-share data and amounts have been retroactively adjusted as of the earliest period presented in the financial statements to reflect the reverse stock split.POLICIES

~~NOTE~~Basis 2of ~~– SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES~~presentation

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

The ~~Company’s~~accompanying financial statements have ~~been~~ been prepared in accordance with ~~accounting principles~~ generally accepted inaccounting ~~the~~principles ~~United States of America (“U.S. GAAP”)~~ for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In our opinion the financial statements include all adjustments (consisting of normal recurring accruals) necessary in order to make the financial statements not misleading. Operating results for the ~~six~~nine months ended September ~~June~~ 30, 2022 isare not necessarily indicative of the final results that may be expected for the year ended December 31, ~~2022~~2021. For more complete financial information, these unaudited financial statements should be read in conjunction with the audited financial statements for the year ended December 31, 2021 filed with the SEC on April 15, 2022.

Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Accordingly, actual results could differ from those estimates. Such estimates include management’s assessments of the carrying value of certain assets, ~~lease liabilities,~~ useful lives of assets, and related depreciation, and ~~valuation~~amortization ofmethods ~~deferred tax assets~~applied.

Cash equivalents

The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. At ~~June~~September 30, 2022 and December 31, 2021, the Company had no cash equivalents.

Fair value of financial instruments

The Company adopted the provisions of FASB Accounting Standards Codification (“ASC”) 820 (the “Fair Value Topic”) which defines fair value, establishes a framework for measuring fair value under U.S. GAAP, and expands disclosures about fair value measurements.

THE TEARDROPPERS, INC.

CONDENSED NOTES TO FINANCIAL STATEMENTS (~~UNAUDITED~~Unaudited)

For the Three and ~~Six~~Nine Months Ended ~~June~~ September 30, 2022 and 2021

The Fair Value Topic 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. It requires that valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. It also establishes a fair value hierarchy, which prioritizes the valuation inputs into three broad levels.

The carrying amount of the Company’s ~~financial~~ financial assets and liabilities, such as cash, ~~lease receivable,~~ accounts payable, ~~and~~ accrued expenses, customer deposits, and line of credit approximate their fair value because of the short-term maturity of those instruments. The Company’s ~~loans~~note payable approximates, the fair value of such ~~instruments~~ instruments based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangements at ~~June~~September 30, 2022 and December 31, 2021.

The Company had no assets ~~and/~~or liabilities measured at fair value on a recurring basis as of ~~June~~September 30, 2022 and December 31, 2021, respectively, using the market and income approaches.

Property and equipment

Property and equipment are recorded at cost. Expenditures for major additions and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation is computed by the straight-line method over the assets estimated useful life of three (3) years for equipment, five (5) years for automobile, and seven (7) years for furniture and fixtures. Upon sale or retirement of property and equipment, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in statements of operations.

Revenue recognition

On January 1, 2018, the Company adopted the provisions of ASC 606 Revenue from Contracts with Customers, and related Accounting Standards Updates. This new revenue recognition standard ~~has~~ has a five step process: a) Determine whether a contract exists; b) Identify the performance obligations; c) Determine the transaction price; d) Allocate the transaction price; and e) Recognize revenue when (or as) performance obligations are satisfied. The impact of the Company’s initial application of ASC 606 did not have a material impact on its financial statements and disclosures.

~~The~~One of the primary ~~source~~sources of ~~revenue~~revenues ~~and performance~~are ~~obligation is~~ from the rental of advertising space on custom designed Teardrop Trailers., ~~The~~Various ~~length~~types ofand ~~the~~sizes ~~rental~~of ~~agreements~~cargo ~~varies~~trailers, ~~from~~lease revenue ~~one~~and toconsulting ~~thirty days~~fees. ~~Customers~~Revenue ~~pay~~from inadvertising ~~advance~~space and ~~revenue~~leases is recognized ~~based~~over ontime as the ~~number~~performance ofobligations ~~days~~are ofmet ~~each~~and consulting ~~contract~~fees ~~that~~is ~~have~~recognized ~~expired~~at a point in time when the performance obligation is met. For the three and ~~six~~nine months ended September ~~June~~ 30, 2022 and 2021, the Company recognized no income from the rental of the trailers.

In ~~January~~March ~~2019~~2018, the Company entered into a ~~two~~four-year agreement to lease aequipment ~~vehicle~~ to an unrelated ~~third~~shareholder. In September 2018, the son of the shareholder became the Chief Financial Officer. At that point the shareholder will be considered a related party. For the ~~six~~three months ended ~~June~~September 30, 2022 and 2021, ~~recognized~~related ~~operating lease~~party lease income ofwas $0. For the nine months ended September 30, 2022 and 2021, related party lease income was $10 and $12,~~275~~000, respectively. ~~The~~On ~~vehicle~~April 2, 2021, the equipment was sold to the lessee and the lease terminated. ~~October~~See 8,Note ~~2021~~9 for details.

On February 1, 2020, the Company leased a truck and trailer purchased November 2019 for $190,000 to a related party. The lease is classified as a direct financing lease. The cost of the vehicle and related accumulated depreciation has been reclassified to a lease receivable and is reflected on the condensed balance sheet as lease receivable – related party. Interest revenue is reflected on the condensed statement of operations. For the three months ended June 30, 2022 and 2021, the Company recognized interest income of $3,400 and $5,079, respectively. For the six months ended June 30, 2022 and 2021, the Company recognized interest income of $7,219 and $10,332, respectively See Note 4 for details8

8THE TEARDROPPERS, INC.

~~THE~~CONDENSED ~~TEARDROPPERS, INC.~~NOTES TO FINANCIAL STATEMENTS (Unaudited)

~~CONDENSED~~For ~~NOTES~~the TOThree ~~FINANCIAL~~and ~~STATEMENTS~~Nine ~~(UNAUDITED)~~Months Ended September 30, 2022 and 2021

~~For~~In January 2019, the ~~Three~~Company entered into a two-year agreement to lease a vehicle to an unrelated third party. For three and ~~Six~~nine ~~Months~~months ~~Ended~~ended ~~June~~September 30, 2021, the Company recognized ~~2022~~lease income of $1,275 and $3,825, respectively. The vehicle was sold and the lease terminated on October 8, 2021.

On ~~September~~February 1, 2020, the Company leased a ~~vehicle~~ truck and trailer purchased November 2019 for $69190,000 to a related party. The lease is classified as a direct financing lease. The cost of the vehicle and related accumulated depreciation has been reclassified to a lease receivable and is reflected on the condensed balance sheet as lease receivable – related party. Interest revenue is reflected on the condensed statement of operations. For the three months ended ~~June~~September ended September 30, 2022 and 2021, the Company recognized interest revenue of $12,~~520~~ 967 and $14,~~553~~610, respectively. For the ~~six~~nine months ended ~~June~~ September 30, ~~2021~~2022 and ~~2022~~2021, the Company recognized interest revenue of $310,~~074~~ 185 and $314,~~323~~943, respectively. See Note 45 for details.

On September 1, 2020, the Company leased a vehicle for $69,000 to a related party. The lease is classified as a direct financing lease. The lease is reflected on the condensed balance sheet as lease receivable – related party. Interest revenue is reflected on the condensed statement of operations. For the three months ended September 30, 2022 and 2021, the Company recognized interest revenue of $1,486 and $1,614 respectively. For the nine months ended September 30, 2022 and 2021, the Company recognized interest revenue of $4,560 and $4,936 respectively. See Note 5 for details. In January 2015, the Company received $14,500 as a deposit for advertising space to be provided in the future. As of ~~March~~September 3130, 2022 and December 31, 2021, the customer has not utilized the space and no revenue has been recognized as the performance obligations have not been satisfied. At the time the service is provided under the terms of the agreement, the Company will recognize the revenue.

~~Net~~On ~~income~~July ~~(loss)~~5, ~~per~~2022, ~~share~~the Company leased two over the road Kenworth trucks and two motorsports related competition trailers to a related party. The lease term is for four years with monthly payments of $17,250. The lease is classified as a direct financing lease. The lease is reflected on the condensed balance sheet as lease receivable – related party. Interest revenue is reflected on the condensed statement of operations. For the three and nine months September 30, 2022, interest revenue of $12,872 was recognized. See Note 5 for details.

~~The~~Net ~~Company computes basic and diluted earnings per share amounts pursuant to ASC 260-10-45. Basic earnings 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 period, excluding the effects of any potentially dilutive securities. Diluted earnings~~ per share ~~is computed by dividing net income (loss) available to common shareholders by the diluted weighted average number of shares of common stock during the period~~

The ~~diluted~~Company ~~weighted~~computes ~~average~~basic ~~number~~and ofdiluted ~~common~~earnings ~~shares~~per ~~outstanding~~share amounts pursuant to ASC 260-10-45. Basic earnings per share is ~~the~~computed ~~basic~~by dividing net income (loss) available to common shareholders, by the weighted average number of shares ~~adjusted~~of ascommon ofstock ~~the~~outstanding ~~first~~during ~~day~~the ofperiod, excluding the ~~year~~effects ~~for~~of any potentially ~~diluted~~dilutive securities. ~~debt~~Diluted orearnings per share is computed by dividing net income (loss) available to common shareholders by the diluted weighted ~~equity~~average number of shares of common stock during the period.

~~There~~The ~~were~~diluted ~~no potentially~~weighted ~~dilutive~~average number of common shares outstanding is the basic weighted number of shares adjusted as of ~~June~~the ~~30,~~first ~~2022~~day ~~and~~of ~~December~~the ~~31,~~year ~~2021,~~for ~~respectively~~any potentially diluted debt or equity. Potentially dilutive securities are excluded from the computation if their effect is in anti-dilutive.

~~Recently~~There ~~Issued~~were no potentially ~~Accounting~~dilutive ~~Pronouncements~~shares outstanding for the three and nine-month periods ended September 30, 2022 and 2021, respectively.

~~The~~Recently ~~Company~~issued ~~has implemented all new~~ accounting ~~pronouncements~~ ~~that are in effect and that may impact its financial statements and does not believe that there are any other new accounting~~ pronouncements ~~that have been issued that might have a material impact on its financial position or results of operations.~~

~~NOTE~~The 3Company –has ~~GOING~~implemented ~~CONCERN~~all new accounting pronouncements that are in effect and applicable to the Company. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued and not implemented that might have a material impact on its financial position or results of operations.

The Company's financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustment relating to recoverability and classification of recorded amounts of assets and liabilities that might be necessary should the Company be unable to continue as a going concern.9

~~The~~THE ~~Company has a minimum cash balance available for payment of ongoing operating expenses. As of June 30~~TEARDROPPERS, ~~2022, the Company has an accumulated deficit of $3,185,232,~~ net cash outflow from operating activities of $61,812 and a net loss for the current period of $229,631 These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the issuance date of this reportINC. Its continued existence is dependent upon its ability to continue to execute its operating plan and to obtain additional debt or equity financing. There can be no assurance the necessary debt or equity financing will be available or will be available on terms acceptable to the Company.

9CONDENSED NOTES TO FINANCIAL STATEMENTS (Unaudited)

~~THE~~For ~~TEARDROPPERS,~~the Three and Nine Months Ended September ~~INC.~~30, 2022 and 2021

~~CONDENSED~~NOTE ~~NOTES~~3 TO– GOING ~~FINANCIAL STATEMENTS (UNAUDITED)~~CONCERN

~~For~~The Company's financial statements have been prepared on a going concern basis, which contemplates the ~~Three~~realization of assets and ~~Six~~satisfaction ~~Months~~of ~~Ended~~liabilities ~~June~~in ~~30,~~the normal course of business. ~~2022~~The financial statements do not include any adjustment relating to recoverability and ~~2021~~classification of recorded amounts of assets and liabilities that might be necessary should the Company be unable to continue as a going concern.

~~NOTE~~The Company has a minimum cash balance available 4for –payment ~~LEASE~~of ~~RECEIVABLE~~ongoing –operating ~~RELATED~~expenses. ~~PARTY~~As of September 30, 2022, the Company has an accumulated deficit of $3,284,691 and negative working capital of $2,452,781. For the nine months ended September 30, 2022, the Company had a net loss of $329,090 and a net cash outflow from operating activities of $29,998. These matters raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the issue date of this report. Its continued existence is dependent upon its ability to continue to execute its operating plan and to obtain additional debt or equity financing. There can be no assurance the necessary debt or equity financing will be available or will be available on terms acceptable to the Company.

OnNOTE ~~November~~4 ~~12,~~– PROPERTY ~~2019,~~AND the company purchased a truck and trailer from a related party for $190,000. On February 1, 2020, the Company leased the asset back to the same related party. The term of the lease is for 48 months with payments of $5,003 per month. At the end of the lease, the related party has the right to purchase the asset for $22,800. The lease is classified as a financing lease under ASC 842. The present value of the lease payments, excluding the end of lease provisions, discounted at an interest rate of 10%, is $197,442. The Company is using the net book value of $180,500 of the asset as the initial value of the lease in accordance with ASC 842-30-55-17A.EQUIPMENT

~~The~~Property ~~undiscounted~~and ~~cash~~equipment ~~flow~~consists ~~principal~~of ~~payments for~~ the ~~remaining~~following at ~~term~~September of30, ~~the~~2022 ~~lease~~and ~~will~~December be31, ~~as follows~~2021:

Schedule of lease receivable payments
Schedule of property and equipment
2022 (remainder of year)	$	35,021
	September 30, 2022			December 31, 2021
2023		60,036
Property and equipment, purchased	$	129,114		$	129,114
2024		5,003
Less: accumulated depreciation		(102,705	)		(90,088	)
Total		100,060
Property and equipment, net	$	26,409		$	39,026
Less deferred interest		(11,856	)
Less current portion		(54,858	)
Long-term lease receivable	$	33,346

OnDepreciation ~~August~~expense 1,for ~~2020,~~ the ~~company~~three ~~purchased~~months ~~a vehicle~~ended ~~for~~September ~~$69~~30,~~000~~ ~~from~~2022 ~~a related party~~ and ~~leased~~2021 itwas ~~to the same related party. The term of the lease is for 60 months with payments of~~ $13,~~000 per~~206 ~~month. At the end of the lease, the related party has the right to purchase the vehicle for~~ and $377,~~000~~710, respectively. ~~The~~Depreciation ~~lease is classified as a~~expense ~~financing~~for ~~lease under ASC 842. The present value of~~ the ~~lease~~nine ~~payments,~~months ~~excluding~~ended ~~the~~September ~~end of lease provisions~~30, ~~discounted~~2022 atand an2021 ~~interest rate~~was ~~of 10%, is~~ $4712,~~065.~~617 and ~~The Company is using the net book value of~~ $6930,~~000~~778, ~~of the asset as the initial value of the lease in accordance with ASC 842-30-55-17A~~respectively.

~~The~~On ~~undiscounted~~April ~~cash~~2, ~~flow~~2021 ~~principal~~the ~~payments for~~Company ~~the~~sold ~~remaining~~a ~~term~~NASCAR ofhauler to ~~the~~a ~~lease~~related ~~will~~party beat asa ~~follows:~~gain of $25,595.

Schedule of lease receivable payments
2022 (remainder of year)	$	8,000
2023		12,000
2024		12,000
2025		8,000
Purchase option		37,000
Total		77,000
Less deferred interest		(16,184	)
Less current portion		(7,291	)
Long-term lease receivable	$	53,525

NOTE 5 – LEASE RECEIVABLE – RELATED PARTY

On November 12, 2019, the company purchased a truck and trailer from a related party for $190,000. On February 1, 2020, the Company leased the asset back to the same related party. The term of the lease is for 48 months with payments of $5,003 per month. At the end of the lease, the related party has the right to purchase the asset for $22,800. The lease is classified as a financing lease under ASC 842. The present value of the lease payments, excluding the end of lease provisions, discounted at an interest rate of 10%, is $197,442. The Company is using the net book value of $180,500 of the asset as the initial value of the lease in accordance with ASC 842-30-55-17A.

~~THE TEARDROPPERS, INC.~~10

~~CONDENSED~~THE ~~NOTES~~TEARDROPPERS, ~~TO FINANCIAL STATEMENTS (UNAUDITED)~~INC.

~~For~~CONDENSED ~~the~~NOTES ~~Three~~TO ~~and~~FINANCIAL ~~Six~~STATEMENTS ~~Months Ended June 30, 2022 and 2021~~(Unaudited)

~~Income from both leases is reflected on the statement of operations as interest income – related parties.~~ For the ~~three~~Three ~~months ended June 30, 2022~~ and ~~2021~~Nine ~~interest~~Months ~~income~~Ended ~~of $4,920~~September ~~and $6,632, respectively was reported. For the six months ended June~~ 30, 2022 and 2021 ~~interest income of $10,292 and $13,655, respectively was reported.~~

~~NOTE~~The 5undiscounted –cash ~~PROPERTY~~flow &principal ~~EQUIPMENT~~payments for the remaining term of the lease will be as follows:

~~Property and equipment consists~~ Schedule of ~~the~~lease ~~following at~~receivable ~~June 30, 2022 and December 31, 2021.~~payments

Schedule of property and equipment
2022 (remainder of year)	$	15,003
	June 30, 2022			December 31, 2021
2023		60,036
Property and equipment, purchased	$	129,114		$	129,114
2024		5,003
Less: accumulated depreciation		(99,499	)		(90,088	)
Total		80,042
Property and equipment, net	$	29,615		$	39,026
Less deferred interest		(7,798	)
Less current portion		(52,846	)
Long-term lease receivable	$	19,398

~~Depreciation~~On ~~expense~~August ~~for~~1, 2020, the ~~three~~Company ~~months~~purchased ~~ended~~a ~~June~~vehicle 30for $69,000 ~~2022~~from a related party and ~~2021~~leased ~~was~~it to the same related party. The term of the lease is for 60 months with payments of $31,~~105~~000 per ~~and~~month. At the end of the lease, the related party has the right to purchase the vehicle for $737,~~710,~~000. The ~~respectively~~lease is classified as a financing lease under ASC 842. ~~Depreciation~~The ~~expense~~present ~~for~~value of the ~~six~~lease ~~months~~payments, ~~ended~~excluding ~~June~~the 30end of lease provisions, ~~2022~~discounted ~~and~~at ~~2021~~an ~~was~~interest rate of 10%, is $947,~~411~~065. ~~and~~The Company is using the net book value of $2369,~~068,~~000 ~~respectively~~of the asset as the initial value of the lease in accordance with ASC 842-30-55-17A.

OnThe ~~April~~undiscounted 2,cash ~~2021,~~flow ~~the~~principal ~~Company~~payments for ~~sold~~the aremaining ~~NASCAR~~term ~~hauler~~of tothe alease ~~related~~will ~~party at~~be aas ~~gain of $25,595.~~follows:

~~NOTE~~Schedule of 6lease –receivable ~~LINE OF CREDIT FROM RELATED PARTY~~payments

On February 25, 2014, the Company entered into a line of credit with DEVCAP Partners, LLC, a California limited liability company (“DEVCAP”), for an amount up to $450,000 with an extended maturity date of December 31, 2023, bearing interest of 10% per annum. Effective July 1, 2019, the loan was assumed by FinTekk AP, LLC, a California limited liability company (“Fintekk”). The terms of the line of credit are unchanged. Both DEVCAP and FinTekk are solely owned by the majority shareholder of the Company and are related parties. As of June 30, 2022 and December 31, 2021, the balance of the line of credit was $237,629 and $227,129, respectively. The Company recorded accrued interest of $16,791 and $6,307 on the line of credit at June 30, 2022 and December 31, 2021, respectively.

2022 (remainder of year)	$	5,000
2023		12,000
2024		12,000
2025		8,000
Purchase option		37,000
Total		74,000
Less deferred interest		(14,524	)
Less current portion		(7,456	)
Long-term lease receivable	$	52,020

On ~~August~~July 135, ~~2015~~2022, the Company ~~entered~~purchased ~~into a~~two ~~line~~over ofthe ~~credit~~road ~~with~~Kenworth ~~General~~trucks ~~Pacific~~and ~~Partners,~~two ~~LLC,~~motorsports arelated ~~California~~competition ~~limited~~trailers ~~liability~~from ~~company,~~a related party for an$649,000 ~~amount~~and upleased them to the ~~$450,000~~same related party. The ~~line~~lease ofterm ~~credit~~ is afor ~~demand~~four ~~loan~~years ~~bearing~~with ~~interest~~monthly payments of ~~10%~~$17,250 ~~per~~with ~~annum.~~no ~~General~~option ~~Pacific~~to ~~Partners,~~purchase ~~LLC~~the isassets aat the ~~related~~end ~~party~~of to the ~~Company~~lease. asThe itlease is ~~owned~~classified by as a ~~majority~~direct ~~shareholder~~financing oflease ~~the~~under ~~Company~~ASC 842. OnThe ~~July~~present 5,value ~~2017,~~of the ~~balance~~lease ofpayments is $25655,~~000~~051 ~~was~~discounted ~~converted~~at ~~into~~an ~~500,000~~interest ~~shares~~rate of ~~stock valued at $~~12%.~~05 per~~ ~~share.~~ The ~~balance~~Company ofis using the ~~line~~net ofbook ~~credit~~value ~~was~~of $0649,000 as of ~~June~~the ~~30,~~asset ~~2022~~as ~~and~~the ~~December 31, 2021. The Company owes accrued interest of $4,732~~initial asvalue of ~~June~~the ~~30,~~lease ~~2022~~in ~~and~~accordance ~~December~~with ~~31,~~ASC ~~2021, respectively~~842-30-55-17A.

~~During 2014, the Company entered into a line of credit agreement with Gemini Southern, LLC, a related party.~~ The ~~line~~undiscounted ofcash ~~credit~~flow isprincipal ~~a demand loan with a maximum of $950,000 bearing interest~~payments atfor ~~10%,~~the ~~maturing~~remaining ~~December~~term ~~2023. As~~ of ~~June 30, 2022 and December 31, 2021,~~ the ~~balance~~lease ~~due~~will onbe ~~the line was $936,922 and $876,931, respectively. The Company recorded accrued interest of $215,106 and $169,553~~ as ~~of June 30, 2022 and December 31, 2021, respectively.~~follows:

11Schedule of lease receivable payments

THE TEARDROPPERS, INC.

2022 (remainder of year)	$	51,750
2023		207,000
2024		207,000
2025		207,000
2026		120,750
Total		793,500
Less deferred interest		(166,128	)
Less current portion		(139,207	)
Long-term lease receivable	$	488,165

~~CONDENSED~~Income ~~NOTES~~from TOall ~~FINANCIAL~~leases ~~STATEMENTS~~is ~~(UNAUDITED)~~reflected on the statement of operations as interest income – related parties. For the three months ended September 30, 2022 and 2021 interest income of $17,325 and $6,224 respectively was reported. For the nine months ended September 30, 2022 and 2021 interest income of $27,618 and $19,879, respectively was reported.

~~For the Three and Six Months Ended June 30, 2022 and 2021~~11

~~NOTE~~THE 7TEARDROPPERS, ~~– LONG-TERM LIABILITIES~~INC.

OnCONDENSED ~~August~~NOTES 1,TO ~~2020,~~FINANCIAL ~~the~~STATEMENTS Company borrowed $69,000 from an unrelated party to purchase a 2020 Porsche Maran that was subsequently leased to a related party. See Note 4 for details of the lease agreement. The term of the loan is 60 months with payments of $912 per month with interest at 10%. A final payment of $41,227 is due in August 2025. The loan is secured by the vehicle.(Unaudited)

~~Principal~~For ~~payments~~the ~~for~~Three ~~the~~and ~~next~~Nine ~~four~~Months ~~years~~Ended ~~will~~September be30, as2022 ~~follows:~~and 2021

Maturities of capital lease payments
2022 (remainder of year)	$	3,360
2023		5,477
2024		6,050
2025		45,609
Total		60,496
Less current portion		(6,030	)
Long-term liability	$	54,466

NOTE 6 – NOTE PAYABLE – RELATED PARTY

~~NOTE~~During 82014, –the ~~OTHER~~Company ~~RELATED~~entered ~~PARTY~~into ~~TRANSACTIONS~~a loan agreement with Gemini Southern, LLC whereby the monies paid to the Company by Gemini Southern, LLC pursuant to the consulting agreement dated September 20, 2013. The balance will be paid back with interest commencing on January 1, 2015 at a rate of 10% per annum with a maturity date of December 12, 2018. On April 1, 2018, the balance of the debt, $525,000, was converted into 4,375,000 of common stock. The Company recorded accrued interest on this loan of $145,632 as of September 30, 2022 and ~~RELATED~~December ~~PARTIES~~31, ~~ACCOUNTS~~2021, ~~PAYABLE~~respectively. The accrued interest was not part of the conversion agreement and continues to be reflected as a liability. Effective April 1, 2018, the line of credit is considered related party debt. See Note 7 for details of the transactions.

~~Note~~On ~~payable~~July –1, ~~Gemini~~2022, ~~Southern~~the Company purchased equipment with cash from a related party described as: two (2) over the road Kenworth trucks and two (2) motorsports related Competition branded haulers for use in our business. The Company received cash to finance the purchase of the equipment with a new loan from a related party for $649,000. The term on the loan is 48 months, interest rate is 12% with a monthly payment of $17,091 per month. The company has leased the equipment to a related party, Rick Ware Racing, LLC for a term of 48 months beginning August 1, 2022. The monthly lease payment is $17,250 per month and the lessee is responsible for all insurances, scheduled and unscheduled maintenance and the procurement of trained drivers. The Lessee assumes all risk related to the use of the equipment and there is no prescribed option for the Leesee to acquire the equipment at the end of the lease term.

~~During~~Principal ~~2014,~~payments ~~the~~for ~~Company entered into a loan agreement with Gemini Southern, LLC, pursuant to which monies were to be paid to~~ the Company by Gemini Southern, LLC, pursuant to the Consulting Agreement dated September 20, 2013. The balance was to be paid with interest commencing January 1, 2015 at a rate of 10% per annum, with a maturity date of December 12, 2018. On April 1, 2018, the balance of the debt, $525,000, was converted into 4,375,000 shares of common stock of the Company, valued at $0.12 per share. The Company recorded accrued interest on this loan ofare ~~$145,632~~ as ~~of June 30, 2022 and December 31, 2021, respectively. The accrued interest was not part of the conversion agreement and continues to be reflected as a liability.~~follows:

Line of credit from related parties

Schedule of principal payments for loan
2022 (remainder of year)	$	32,768
2023		141,305
2024		159,226
2025		179,420
2026		114,973
Total		627,692
Less current portion		(137,150	)
Long-term liability	$	490,542

~~The~~NOTE ~~Company~~7 ~~has~~– LINE ~~two~~OF ~~line~~CREDIT ~~of credit agreements~~FROM ~~with~~RELATED ~~related parties. FinTekk AP, LLC is also the majority shareholder in the Company. DEVCAP Partners, LLC is owned by the same related party that owns Fintekk AP. See Note 6 for further disclosure.~~PARTY

~~Consulting~~On ~~expense~~February to25, ~~related~~2014, ~~party~~the Company entered into a line of credit with DEVCAP Partners, LLC, a California limited liability company (“DEVCAP”), for an amount up to $450,000 with a maturity date of December 31, 2023, bearing interest of 10% per annum. Effective July 1, 2019, the loan was assumed by FinTekk AP, LLC, a California limited liability company (“Fintekk”). The terms of the line of credit are unchanged. Both DEVCAP and FinTekk are solely owned by the majority shareholder of the Company and are related parties. As of September 30, 2022, and December 31, 2021, the balance of the line of credit was $219,729 and $227,129, respectively. The Company recorded accrued interest of $21,827 and $6,307 on the line of credit at September 30, 2022 and December 31, 2021, respectively.

On ~~January~~August 113, ~~2014~~2015, the Company ~~executed~~entered ainto ~~three-year~~a ~~consulting~~line ~~agreement~~of credit with ~~DEVCAP~~General Pacific Partners, LLC, ~~(“DEVCAP”), whereby the Company agreed to pay approximately $7,500~~ a ~~month for consulting services to be provided to the Company such as marketing~~California, ~~architectural~~limited ~~development,~~liability ~~accounting~~company, ~~finance,~~for ~~corporate~~an ~~structure and~~amount ~~tax~~up ~~planning. Effective July 1, 2019, the agreement was transferred~~ to ~~FinTekk AP~~$450, ~~LLC (“FinTekk”)~~000. ~~All~~The ~~amounts~~line ~~due to~~of ~~DEVCAP~~credit ~~and~~is ~~all~~a ~~future~~demand ~~services~~loan ~~will~~bearing beinterest ~~assumed~~of 10% byper ~~FinTekk~~annum. ~~For~~As ~~the~~of ~~three~~September ~~and months ended June~~ 30, 2022 ~~and 2021,~~ the ~~Company~~balance ~~recorded consulting~~of ~~fee~~the ~~expense~~line of ~~$22,500~~credit ~~and~~was $~~45,000, respectively~~0. The Company ~~amount~~recorded ~~due~~accrued ~~but~~interest ~~unpaid~~of is $~~332~~4,~~835 and $287,835~~ 732 at ~~June~~September 30, 2022 and December 31, 2021, respectively~~, and is included in accounts payable related parties on the balance sheets~~.

12During 2014, the Company entered into a line of credit agreement with Gemini Southern, LLC. On April 1, 2018, the Company converted $525,000 of debt owed to Gemini Southern, LLC into 4,375,000 shares of stock. Gemini Southern, LLC will be treated as a related party for all activity from the date of the conversion forward. The line of credit is a demand loan with a maximum of $950,000 bearing interest at 10%, maturing December 2023. At September 30, 2022, and December 31, 2021, the balance due on the line was $921,913 and $876,931, respectively. The Company recorded accrued interest of $238,417 and $169,553as of September 30, 2022 and December 31, 2021, respectively.

~~THE TEARDROPPERS,~~NOTE ~~INC.~~8 – NOTE PAYABLE - UNRELATED PARTY

~~CONDENSED~~On ~~NOTES~~October TO1, ~~FINANCIAL~~2017, ~~STATEMENTS~~the Company acquired from Gemini Southern, LLC a 2006 Ultra-Comp 53” NASCAR type vehicle transport hauler (~~UNAUDITED~~the “Hauler”) to be used for promotional / advertising services. The purchase price of the Hauler was $165,000. The Company paid for the Hauler with a promissory note (the “Hauler Note”). The Hauler Note bears interest at 12% per annum and is payable as follows: (i) interest only from October 1, 2017 through February 28, 2018; (ii) $ $3,670 per mon12th from March 1, 2018 through February 28, 2022; and $45,000 on February 1, 2022. The trailer is collateral for the promissory note. The balance of the loan was $83,679 as of December 31, 2020. On April 2, 2021, the Company sold the Hauler for $75,095 and paid Gemini Southern the balance of the loan. The book value of the Hauler was $49,500 resulting in a gain of $25,595.

~~For the Three and Six Months Ended June 30, 2022 and 2021~~12

~~Consulting~~THE ~~expense~~TEARDROPPERS, ~~to related party (Ray Gerrity)~~INC.

OnCONDENSED ~~January~~NOTES 1,TO ~~2014,~~FINANCIAL ~~the~~STATEMENTS Company entered into a verbal consulting agreement with its Chief Executive Officer, Ray Gerrity, whereby the Company agreed to pay $2,500 per quarter for consulting services related to his duties as Chief Executive Officer. Mr. Gerrity resigned his position effective March 31, 2018. The amount due but unpaid was $32,500 at June 30, 2022 and December 31, 2021, respectively, and was included on the balance sheet as accounts payable - related parties.(Unaudited)

~~Consulting~~For ~~expense~~the toThree ~~related~~and ~~party~~Nine ~~(Robert~~Months Ended September ~~Wilson)~~30, 2022 and 2021

On ~~January~~August 1, ~~2014~~2020, the Company ~~entered~~borrowed ~~into a~~$69,000 ~~verbal~~from ~~consulting~~an ~~agreement~~unrelated ~~with~~party ~~its~~to ~~Chief~~purchase ~~Financial~~a ~~Officer,~~2020 ~~Robert~~Porsche ~~Wilson,~~Maran ~~whereby~~that ~~the~~was ~~Company~~subsequently ~~agreed~~leased to ~~pay~~a ~~$2,500~~related ~~per~~party. ~~quarter~~See ~~for consulting~~Note ~~services~~4 ~~related~~for todetails ~~his~~of ~~duties~~the lease asagreement. ~~Chief~~The ~~Financial~~term ~~Officer.~~of ~~Mr.~~the ~~Wilson~~loan ~~resigned~~is ~~effective~~60 ~~April~~months 1,with ~~2017.~~payments ~~The~~of ~~amount~~$912 ~~due~~per ~~but unpaid~~month ~~was~~with ~~$17,500~~interest at ~~June~~10%. ~~30,~~A ~~2022~~final ~~and~~payment ~~December~~of 31$40,988 ~~2021,~~is due ~~respectively,~~in ~~and~~August ~~was~~2025. ~~included~~The onloan ~~the~~is ~~balance~~secured ~~sheet~~by asthe ~~accounts payable - related parties~~vehicle.

~~Consulting~~Principal ~~expense~~payments tofor ~~related~~the ~~party~~next ~~(Cody~~four years will ~~Ware)~~be as follows:

On January 1, 2019, the Company entered into a consulting agreement with its Chief Executive Officer, Cody Ware, whereby the Company agreed to pay $1,500 per month for consulting services related to his duties as Chief Executive Officer. Effective July 2020, the amount was increased to $4,500 per month. For the three and six months ended June 30, 2022 and 2021, the Company recorded consulting fee expense of $13,500 and $27,000, respectively. As of June 30, 2022 and December 31, 2021, the amount due but unpaid was $67,500 and $43,500, respectively and is included in accounts payable – related parties on the balance sheet.

Maturities of capital lease payments
2022 (remainder of year)	$	2,133
2023		5,496
2024		6,072
2025		45,385
Total		59,086
Less current portion		(6,204	)
Long-term liability	$	52,882

~~Expense~~NOTE ~~reimbursements~~9 – OTHER RELATED PARTY TRANSACTIONS and RELATED PARTY ACOUNTS PAYABLE

~~The~~Consulting ~~majority~~expense ~~shareholder~~to ofrelated ~~the~~party ~~Company pays certain~~(DEVCAP ~~ongoing operating costs from personal funds and is periodically reimbursed. As of June 30~~Partners, ~~2022 and December 31, 2021, the amounts due to the shareholder was $53,275 and $50,075, respectively and is reflected in accounts payable – related parties on the balance sheet.~~LLC)

~~Other~~On January 1, 2014, the Company executed a three-year consulting agreement with DEVCAP Partners, LLC, (“DEVCAP”), whereby the Company agreed to pay $7,500 a month for consulting services to be provided to the Company such as marketing, architectural development, accounting, finance, corporate structure and tax planning. Effective July 1, 2019, the agreement was transferred to FinTekk AP, LLC (“FinTekk”). All amounts due to DEVCAP and all future services will be assumed by FinTekk. For the three and nine months ended September 30, 2022 and 2021, the Company recorded consulting fee expense of $22,500 and $67,500, respectively. The amount due but unpaid is $355,335 and $287,835 at September 30, 2022 and December 31, 2021, respectively, and is included in accounts payable related ~~party~~parties ~~transactions~~on the balance sheets.

~~On February 4, 2021, the Company purchased a 1983~~Consulting ~~Toyota~~expense ~~truck~~to ~~from~~related ~~the~~party ~~majority~~(Cody ~~shareholder for use in the business operations.~~Ware)

~~NOTE~~On 9January 1, 2019, the Company entered into a verbal consulting agreement with its Chief Executive Officer, Cody Ware, whereby the Company agreed to pay $1,500 per month for consulting services related to his duties as Chief Executive Officer. Effective May 1, 2020, the consulting fee was increased to $4,500 per month. For the three and nine months ended September 30, 2022, the Company recorded consulting fee expense of $13,500 and $40,500, respectively. For the three and nine months ended September 30, 2021, the Company recorded consulting fee expense of $13,500 and $40,500, respectively. At September 30, 2022 and December 31, 2021, the amount due but unpaid was $81,000 and $43,500, respectively and reflected in accounts payable – ~~STOCKHOLDERS’~~related ~~DEFICIT~~parties on the condensed balance sheets.

At the time of incorporation, the Company was authorized to issue 10,000 shares of common stock and 1,000 shares of preferred stock with a par value of $0.001. The Company amended its articles of incorporation to increase it authorized shares to 200,000,000 shares of common stock and 20,000,000 shares of preferred stock, both $0.001 par value.13

~~NOTE~~THE 10TEARDROPPERS, ~~– CONTINGENCIES AND COMMITMENTS~~INC.

~~The~~CONDENSED ~~Company’s~~NOTES ~~ability~~TO toFINANCIAL ~~collect~~STATEMENTS on receivables and pay liabilities is connected to NASCAR race schedule. The 2020 and 2021 NASCAR schedules were severely disrupted by Covid, which caused delays in both collections and payments. Management believes the 2022 NASCAR schedule will not be disrupted. This will allow collections on receivables and payments on liabilities to be timely made. There are no other commitments or contingencies related to the assets and liabilities that are not disclosed above.(Unaudited)

13For the Three and Nine Months Ended September 30, 2022 and 2021

~~THE~~Consulting ~~TEARDROPPERS,~~expense to related party (Robert ~~INC.~~Wilson)

~~CONDENSED~~On ~~NOTES~~January TO1, ~~FINANCIAL~~2014, ~~STATEMENTS~~the ~~(UNAUDITED)~~Company entered into a verbal consulting agreement with its Chief Financial Officer, Robert Wilson, whereby the Company agreed to pay $2,500 per quarter for consulting services related to his duties as Chief Financial Officer. Mr. Wilson resigned effective April 1, 2017. The amount due but unpaid was $17,500 at September 30, 2022 and December 31, 2021, respectively, and was included on the balance sheets as accounts payable - related parties.

~~For~~Consulting ~~the~~expense ~~Three~~to ~~and~~related ~~Six~~party ~~Months Ended June 30,~~(Ray ~~2022 and 2021~~Gerrity)

~~NOTE~~On 11January –1, ~~SUBSEQUENT~~2014, ~~EVENTS~~the Company entered into a verbal consulting agreement with its Chief Executive Officer, Ray Gerrity, whereby the Company agreed to pay $2,500 per quarter for consulting services related to his duties as Chief Executive Officer. Mr. Gerrity resigned his position effective March 31, 2018. The amount due but unpaid was $32,500 at September 30, 2022 and December 31, 2021, respectively, and was included on the balance sheets as accounts payable - related parties.

OnExpense July 1, 2022, the Company borrowed $649,000 for 48 months amortized at (12%) twelve percent interest from Gemini Southern, LLC. Monthly loan payments are $17,091 per month. On July 5, 2022, the Company used the loan proceeds from the loan to acquire two (2) motorsport style haulers and two (2) over the road trucks for $649,000 to be used in our business.reimbursements

The ~~COVID-19~~majority ~~outbreak~~shareholder inof ~~2020~~the ~~had~~Company apays ~~significant~~certain ~~impact~~ongoing onoperating ~~business~~costs infrom ~~general.~~personal ~~The~~funds ~~NASCAR~~and ~~race~~is ~~schedule~~periodically ~~was severely disrupted~~reimbursed. ~~The~~As ~~Company’s~~of ~~operations~~September ~~are~~30, ~~directly connected to the NASCAR schedule. Due to the disruption in NASCAR events~~2022, ~~collection of revenues~~ and ~~payment~~December of31, ~~expenses was delayed in some cases. Revenues declined significantly in~~ 2021, ~~versus 2020. Expenses for 2021 were consistent with prior periods. The Company did not experience a significant detrimental change. Management believes~~ the ~~2022 NASCAR race schedule will not be significantly impacted and should not~~amount ~~have~~due ~~a material impact on future operations. Due~~ to the ~~level~~shareholder ofwas ~~risk~~$53,275 and ~~this virus may have on the global economy~~$50,075, itrespectively is atreflected ~~least~~in ~~reasonably possible~~accounts ~~that~~payable it– ~~could~~related ~~have~~parties ~~an impact~~ on the ~~operations of the Company in the near term that could materially impact the Company’s~~balance ~~financials~~sheets.

OnSale July 5, 2022, the Company entered into a lease agreement with Rick Ware Racing, LLC, a current related party client. The lease agreement pertains to two (2) motorsports type haulers and two (2) over the road trucks. The lease payments are due monthly at $17,250 per month for forty eight (48) months. Rick Ware Racing is responsible for all insurance and maintenance of ~~the equipment. There is no option for a term ending purchase by the lessee.~~asset

14In March 2018, the Company entered into a four-year agreement to lease equipment to a related party. On April 2, 2021 when the lease expired, the Company sold the asset to the related party for $75,095 and recognized a gain of $25,595. The gain is reported on statement of operations as other income.

Other related party transactions

On February 4, 2021, the Company purchased a 1983 Toyota truck from the majority shareholder for use in the business operations.

NOTE 10 – STOCKHOLDERS’ DEFICIT

At the time of incorporation, the Company was authorized to issue 10,000 shares of common stock and 1,000 shares of preferred stock with a par value of $0.001. The Company amended its articles of incorporation in April 2016 to increase its authorized shares to 200,000,000 shares of common stock and 20,000,000 shares of preferred stock, both $0.001 par value.

NOTE 11 – CONTINGENCIES AND COMMITMENTS

The Company’s ability to collect on receivables and pay liabilities is connected to NASCAR race schedule. The 2020 and 2021 NASCAR schedules were severely disrupted by Covid, which caused delays in both collections and payments. Management believes the 2022 NASCAR schedule will not be disrupted. This will allow collections on receivables and payments on liabilities to be timely made. There are no other commitments or contingencies related to the assets and liabilities that are not disclosed above.

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

Safe Harbor for Forward-Looking Statements

When used in this report, the words “may,” “will,” “expect,” “anticipate,” “continue,” “estimate,” “project,” “intend,” and similar expressions are intended to identify forward-looking statements within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934 regarding events, conditions, and financial trends that may affect the Company’s future plans of operations, business strategy, operating results, and financial position. Persons reviewing this report are cautioned that any forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties and that actual result may differ materially from those included within the forward-looking statements as a result of various factors. Such factors are discussed under the “Item 2. Management’s Discussion and Analysis of Financial Condition or Plan of Operations,” and also include general economic factors and conditions that may directly or indirectly impact the Company’s financial condition or results of operations.

Three Months Ended ~~June~~September 30, 2022 Compared to Three Months Ended ~~June~~September 30, 2021

Revenues

The Company had no$0 in revenue during the three ~~months~~ months ended ~~June~~September 30, 2022 compared to $1,275 in revenue during the three months ended ~~June~~September 30, 2021. ~~This~~The decrease isin revenue for the ~~result~~quarter ofwas nodue ~~consulting fees~~to ~~received~~termination ~~and~~of ~~delayed~~the lease ~~revenue~~with ~~payments~~an ~~received~~unrelated ~~from related parties~~party.

Operating Expenses

For the three months ended ~~June~~September 30, 2022 ~~operating~~ operating expenses were $7774,~~528~~086 compared to $9883,~~553~~554 for the same period in 2021 for a decrease of $219,~~025~~468. The decrease was primarily a result of ~~the~~ ~~decrease in consulting fees to related parties to $36,000 from $51,000, accompanied by~~ a decrease in general and administrative fees to from $2731,~~228~~854 ~~from~~to $3127,~~853,~~386 and a decrease in consulting fees to unrelated parties from to $510,000 ~~from~~to $105,000.

Other ~~income~~Income (~~expense~~Expense) was $25,070 for the three months ended June 30, 2022 compared to $3,568 for the three months ended June 30, 2021. The decrease was due to a gain on sale of asset and the cessation of interest accruals on the asset for the three months ended June 30, 2021.

Interest expense was $42,698 for the three months ended September 30, 2022 compared to $26,998 for the three months ended September 30, 2021. The interest expense increased due to an increase in the indebtedness of the Company.

Net Loss

The Company incurred losses of $~~102~~99,~~598~~459 for the three months ended ~~June~~September 30, 2022 compared to $93103,~~710~~053 during the three months ended ~~June~~September 30, 2021 due to the factors discussed ~~herein~~ above.

~~Six~~Nine Months Ended ~~June~~September 30, 2022 Compared to ~~Six~~Nine Months Ended September ~~June~~ 30, 2021

Revenues

The Company had no$0 in revenue during the ~~six months~~nine months ended ~~June~~September 30, 2022 compared to $1415,~~550~~825 in revenue during the ~~six~~nine months ended ~~June~~September 30, 2021. ~~This~~The decrease iswas related to the ~~result~~termination of noleases ~~consulting fees~~in ~~received from related party and lease expiration~~2021.

Operating Expenses

For the ~~six~~nine months ended ~~June~~September 30, 2022 operating expenses were $~~180~~254,~~827~~914 compared to $~~230~~313,~~342~~896 for the same period in 2021 for a decrease of $4958,~~515~~982. The decrease was ~~primarily~~ a result of the decrease in general and administrative fees tofrom $65118,~~834~~883 ~~from~~to $8793,~~029~~221, ~~a decrease in~~ consulting fees to ~~related~~unrelated parties tofrom $7942,500 ~~from~~ to $8715,000, and ~~a decrease in~~ consulting fees to ~~unrelated~~related parties tofrom $10123,000 ~~from~~to $32115,500 ~~for the same period in 2021~~.

Other income (expense) was $48,804 for the six months ended June 30, 2022 compared to $13,668 for the six months ended June 30, 2021. The decrease was due to the gain on sale of asset and the cessation of interest accruals on the asset.

Interest and Financing Costs

Interest expense was $101,794 for the nine months ended September 30, 2022 compared to $79,916 for the nine months ended September 30, 2021. The interest expense increased for the period due to an increase the indebtedness for the company.

Net Loss

The Company incurred losses of $~~229~~329,~~631~~090 for the ~~six~~nine months ended ~~June~~September 30, 2022 compared to $~~229~~332,~~460~~513 during the ~~six~~nine months ended ~~June~~September 30, 2021 due to the factors discussed ~~herein~~ above.

Operating activities

During the six months ended June 30, 2022, we had $61,812 cash used in operating activities compared to $125,092 during the six months ended June 30, 2021, a decrease in cash outflows of $63,280. The decrease in operating activities was due to a decrease to payables and accrued interest.

Investing activities

We generated no cash from investing activities during the six months ended June 30, 2022 and $38,982 during the six months ended June 30, 2021. The increase in cash generated by investing activities was due to the sale of an asset.

Financing activities

During the six months ended June 30, 2022, we generated $67,776 from financing activities compared to $45,221 for the same period ended June 30, 2021. The increase was primarily due to a reduction in repayments to related parties on lines of credit.

LIQUIDITY AND CAPITAL RESOURCES

The Company has a minimum cash balance available for payment of ongoing operating expenses and has incurred losses since inception and anticipates future losses in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. Its continued existence is dependent upon its ability to continue to execute its operating plan and to obtain additional debt or equity financing. There can be no assurance the necessary debt or equity financing will be available or will be available on terms acceptable to the Company.

The Company had $3511,~~122~~309 in cash at ~~June~~September 30, ~~2022~~ 2022 with availability on our related party lines of credit with FinTekk AP, LLC ~~and~~of $230,271, General Pacific Partners, LLC of $~~662~~450,~~371~~000, and Gemini Southern, LLC of $28,087. AtAs ~~June~~of September 30, 2022 we had a working capital deficit of $2,~~372~~452,~~774~~781.

Operating activities

During the nine months ended September 30, 2022, we had $29,998 cash used in operating activities compared to $137,724 during the nine months ended September 30, 2021, a decrease in cash outflows of $107,726. The change was primarily due to an increases in accounts payable - unrelated parties of $70,130 and an increase in accrued interest – related parties of $12,246.

Investing activities

We had $649,000 of cash used in investing activities during the nine months ended September 30, 2022 versus $38,982 provided by in 2021. The decrease was due primarily to the purchase of equipment.

Financing activities

During the nine months ended September 30, 2022, we generated $661,149 from financing activities compared to $123,212 for the same period ended September 30, 2021. The increase was primarily due debt incurred to the purchase equipment.

ITEM 3. Quantitative and Qualitative Disclosures about Market Risk.

As a “smaller reporting company,” we are not required to provide the information under this Item 3.

ITEM 4. Controls and Procedures

~~Evaluation~~Management evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended, or the Exchange Act), as of September 30, 2022, the end of the fiscal period covered by this Quarterly Report on Form 10-Q. SEC rules define the term “disclosure controls and procedures” to mean a company’s controls and other procedures that are designed to ensure that information required to be disclosed in the reports it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time period specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in its reports filed under the Exchange Act is accumulated and communicated to the company’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

~~Based~~Our ~~upon~~management, including the Chief Executive Officer and Chief Financial Officer (our principal executive officer and principal financial officer, respectively), carried out an evaluation of the effectiveness of our disclosure controls and procedures ~~performed~~as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on this evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective as of September 30, 2022 to ensure that the ~~end~~information ofrequired to be disclosed in the ~~period~~reports ~~covered~~filed or submitted by ~~this~~us ~~report~~under the Exchange Act was recorded, processed, summarized and reported within the requisite time periods and that such information was accumulated and communicated to our management, including our Chief Executive Officer ~~concluded~~and ~~that~~Chief ~~our~~Financial Officer, as appropriate to allow for timely decisions regarding required disclosure. Management plans to address these deficiencies by undertaking various actions, such as implementing new internal controls and procedures ~~have~~and ~~not~~hiring ~~been~~additional ~~effective~~accounting asor ainternal ~~result~~audit ofstaff. In this regard, we will need to continue to dedicate internal resources, engage outside consultants and adopt a ~~weakness~~detailed inwork plan to assess and document the ~~design~~adequacy of internal control over financial reporting, ~~identified~~continue ~~below~~steps to improve control processes, validate through testing that controls are functioning as documented and implement a continuous reporting and improvement process for internal control over financial reporting.

AsNo ~~used~~changes ~~herein,~~in ~~“disclosure controls and procedures” mean controls and other procedures of~~ our ~~company~~internal ~~that~~control ~~are~~over ~~designed to ensure that information required to be~~financial ~~disclosed~~reporting byoccurred usduring in the ~~reports~~period ~~that~~ended weSeptember ~~file or submit under the Securities Exchange Act is recorded~~30, ~~processed,~~2022 ~~summarized~~that ~~and~~have ~~reported, within~~materially ~~the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include~~affected, ~~without limitation, controls and procedures designed to ensure that information required to be disclosed by us in the reports that we file~~ or ~~submit~~are ~~under the~~reasonably ~~Securities~~likely ~~Exchange Act is accumulated and communicated~~ to ~~our~~materially ~~management~~affect, ~~including~~ our ~~principal~~internal ~~executive~~control ~~and~~over ~~principal~~ financial ~~officers,~~ ~~or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure~~reporting.

Management’s Report on Internal Control over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rule 13a-15(f). The Company’s internal control over financial reporting is a process designed to provide reasonable assurance to our management and board of directors regarding the reliability of financial reporting and the preparation of the financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America.

Our internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles generally accepted in the United States of America, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company’s assets that could have a material effect on the financial statements.

This report does not include an attestation report of our registered independent public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by our registered independent public accounting firm.

Changes in Internal Control Over Financial Reporting

No changes in our internal control over financial reporting occurred during the period ended June 30, 2021 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

ITEM 1. Legal Proceedings

We know of no material, existing or pending legal proceedings against us, nor are we involved as a plaintiff in any material proceeding or material pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our company.

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

~~During the six months ended June 30, 2022, the Company had no unregistered sales of equity securities.~~None

ITEM 3. Default Upon Senior Securities

During the ~~six~~nine months ended ~~June~~September 30, 2022, ~~the~~ the Company had no senior securities issued and outstanding.

ITEM 4. Mine Safety Disclosures

Not applicable to our Company.

ITEM 5. Other Information

On June 13, 2022, (the “Company”) filed with the Secretary of State of the State of Nevada a Certificate of Change, pursuant to Nevada Revised Statutes 78.209, to (i) effect a one-for-250 reverse stock split (the “Reverse Split”) of the Company’s issued and outstanding common stock, par value $0.001 per share, on July 6, 2022 at 8:00 A:M Eastern Time (the “Effective Time”). The total number of shares of common stock that the Company shall have the authority to issue will remain at 200,000,000. As a result of the one-for-250 reverse stock split (the “Reverse Stock Split”), at the Effective Time, each 250 shares of the Company’s common stock issued and outstanding immediately prior to the Effective Time was automatically combined into and become one share of Company common stock. Fractional shares resulting from the reverse stock split were settled by cash payments. As of July 6, 2022, the total amount of common shares outstanding of the Company was 183,680.None

ITEM 6. Exhibits

Copies of the following documents are included as exhibits to this report pursuant to Item 601 of Regulation S-K

SEC Ref. No.		Title of Document
31.1*		Certification of the Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*		Certification of the Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1*		Certification of the Principal Executive Officer pursuant to U.S.C. pursuant to Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2*		Certification of the Principal Financial Officer pursuant to U.S.C. pursuant to Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS*		Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document)
101.SCH*		Inline XBRL Taxonomy Extension Schema Document
101.CAL*		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE*		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104*		Cover Page Interactive Data File (formatted in IXBRL, and included in exhibit 101).

__________

Filed herewith.

SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

THE TEARDROPPERS, INC.

~~August~~November 1517, 2022

By: /s/ ~~Rayna~~Cody ~~Austin~~Ware

~~Rayna~~Cody ~~Austin~~Ware

Chief ~~Financial~~Executive Officer ~~(Principal Financial Officer)~~

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