RESULTS OF OPERATIONS

TWELVE MONTHS ENDED DECEMBER 31, 2020 AND 2019

Our net loss for the year ended December 31, 2020 totaled $1,827,624 compared to our net loss of $22,745 for the year ended December 31, 2019. The main expense in 2020 was stock based compensation for $1,787,500.

Office and general consisted mainly of filing and transfer agent fees of $19,657 (2019 - $7,946), news releases of $1,520 (2019 - $2,157), and rent of $2,400 (2019 - $nil).

Consulting fees were incurred in relation to transportation software.

LIQUIDITY AND CAPITAL RESOURCES

If we are unsuccessful in obtaining financing and fail to achieve and sustain a profitable level of operations, we may be unable to fully implement our business plans or continue operations. Future financing through equity, debt or other sources could result in the dilution of Company equity, increase our liabilities, and/or restrict the future availability and use of cash resources. Additionally, there can be no assurance that adequate financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If we are not able to obtain the additional financing on a timely basis, we will be unable to execute our business plans. We also may not be able to meet our vendor and service provider obligations as they become due. In such event, we will be forced to cease our operations.



                                      10

FUTURE OPERATIONS CASH REQUIREMENTS

During the twelve-month period ending December 31, 2021, we project cash requirements of approximately $340,000 as we continue to restructure our activities.

Our estimated funding needs for the next twelve months are summarized below:





Estimated Funding Required During the Twelve-Month Period Ending December 31,
2021



             Operating, general and administrative costs   $  40,000
             Transportation software budget                  300,000
             TOTAL                                         $ 340,000

PURCHASE OF SIGNIFICANT EQUIPMENT

We do not intend to purchase any significant equipment over the next twelve months ending December 31, 2021.

APPLICATION OF CRITICAL ACCOUNTING POLICIES

Our financial statements and accompanying notes are prepared in accordance with generally accepted accounting principles in the United States. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. These estimates and assumptions are affected by management's application of accounting policies. We believe that understanding the basis and nature of the estimates and assumptions involved with the following aspects of our financial statements is critical to an understanding of our balance sheet, the statements of operations and stockholders' equity, and the cash flows statements included elsewhere in this filing.

© Edgar Online, source Glimpses