CHIA INFR : Audited Financials

CHINA INFRASTRUCTURE CONSTRUCTION CORP.

AUDITED FINANCIAL STATEMENTS

For the Fiscal Year Ended May 31, 2021

And Fiscal Year Ended May 31, 2020

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and

Stockholders of China Infrastructure Construction Corp.

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheets of China Infrastructure Construction Corp. (the Company) as of May 31, 2021, and 2020, and the related consolidated statements of operations, stockholders' equity (deficit), and cash flows for each of the years in the two-year period ended May 31, 2021, and the related notes (collectively referred to as the financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of May 31, 2021, and

• 2020, and the results of its operations and its cash flows for each of the years in the two-year period ended May 31,

• 2021, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

As discussed in Note 3 to the financial statements, the Company's recurring losses from operations, and its need for additional financing in order to fund its projected loss in 2021 raise substantial doubt about its ability to continue as a going concern. These 2021 and 2020 financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the financial statements, the Company has negative working capital at May 31, 2021, has incurred recurring losses and recurring negative cash flow from operating activities, and has an accumulated deficit which raises substantial doubt about its ability to continue as a going concern. Management's plans concerning these matters are also described in Note 3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Critical Audit Matters

Critical audit matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. We determined that there are no critical audit matters.

/s/PWR CPA, LLP

Houston, Texas PCAOB #6686

We have served as the Company's auditor since 2021.

Houston, Texas

March 21, 2022

CHINA INFRASTRUCTURE CONSTRUCTION CORP.

CONSOLIDATED BALANCE SHEETS

ASSETS

Current assets

Cash and cash equivalents Accounts receivable Related party receivable

Total current assets

TOTAL ASSETS

LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities

Current liabilities

Accounts payable and accrued expenses

May 31, 2021

$

41,322 1,295 12,000 54,617

54,617

• $ 148,789

May 31, 2020

$

127,655 500 - 128,155

128,155

$

253,945

8,281 85,641

Accrued revenue 268,469

Accrued rent Notes payable Related party payables Short term loan

SBA Loan PPP Loan

Lease liabilities - current

Total current liabilities Lease liabilities - noncurrent

Total liabilities

Stockholders' deficiency

Preferred Stock, par value $0.001 per share: 10,000,000 shares authorized; 2,500,000 shares designated Series A Convertible Preferred stock outstanding at May 31, 2021, and May 31, 2020.

Common Stock, without par value: 20,000,000,000 shares authorized; 7,814,238,100 and 8,715,256,416 shares issued and outstanding as of May 31, 2021, and May 31, 2020, respectively. Additional paid-in capital

Accumulated deficit

Total stockholders' deficiency

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY

8,063 6,075

-

-10,808 4,225

- 1,709

249,300 143,100

88,631 31,750

43,965 42,201

409,048 583,169

40,911 84,588

$

449,959

2,500

- 2,461,315 (2,764,985)

(301,170)

$

148,789

$

667,757

2,500

- 2,189,365 (2,605,677)

(413,812)

$

253,945

CHINA INFRASTRUCTURE CONSTRUCTION CORP.

CONSOLIDATED STATEMENT OF OPERATIONSYear ended May 31, 2021

2020

Revenues	$	761,737	290,233
Cost of revenues
Gross profit	761,737	290,233
Cost and expenses
General and administrative	100,281	121,898
Contract labor	263,138	265,972
Professional fees	198,496	129,557
Officer compensation	211,312	180,241
Payroll	-
Rent	72,244	90,235
Travel	31,230	62,365
Interest	44,343	3,101
Total operating expenses	921,045	853,369
Operating loss	(159,308)	(563,136)
Other income (expense)	21,984
Net operating loss before taxes	(159,308)	(541,152)
Income tax provision	-	-
Net loss	(159,308)	(541,152)
Average common stock outstanding	8,246,111,316	7,581,531,642
Average loss per share	(0.00002)	(0.00007)

$