EESTECH INC AND SUBSIDIARIES (A DEVELOPMENT STAGE COMPANY) QUARTERLY / INTERIM REPORT

AS AT June 30, 2022

(Denominated in USD)

Reg. Office:

Eestech Inc

16192 Coastal Highway

Lewes

DELAWARE USA 19958

EESTECH INC. AND SUBSIDIARIES (A DEVELOPMENT STAGE COMPANY) CONSOLIDATED BALANCE SHEET AS AT JUNE 30, 2022

(Unaudited)

JUNE 30,

DECEMBER 31,

2022

2021

ASSETS

$

$

Current Assets

Cash

559,333

416,811

Prepaid expenses

11,926

28,128

Other receivables

19,412

42,818

Total Current Assets

590,672

487,757

Other Non-Current Assets

Property and equipment, net of depreciation

39,162

39,804

Investment - EMS

-

-

HCGT Technology

-

-

Delta E Technology

-

-

Total Non-Current Assets

39,162

39,804

TOTAL ASSETS

629,834

527,561

LIABILITIES

Current Liabilities

Trade creditors

364579

359,173

Accrued expenses

156,696

189,258

Shareholder loans

-

21,768

Total Current Liabilities

521,275

570,199

Non-Current Liabilities

Shareholder loans

-

-

Total Non-Current Liabilities

-

-

TOTAL LIABILITIES

521,275

570,199

Net Assets/(Liabilities)

108,558

(42,638)

EQUITY

Foreign currency translation reserve

(1,576,862)

(1,550,394)

Issued capital - par value

256,289

240,177

Issued capital - paid in

36,371,873

35,755,734

Issued warrants

13,518

13,518

Retained earnings attributable to owners of the parent

(34,482,337)

(33,130,079)

Current period earnings attributable to owners of the parent

(389,142)

(1,352,260)

Non-Controlling Interest

(1,063,073)

(997,577)

Change in proportionate interest reserve

978,245

978,245

Total Equity

108,558

(42,638)

The accompanying notes are an integral part of these financial statements

1

EESTECH INC. AND SUBSIDIARIES

(A DEVELOPMENT STAGE COMPANY)

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME

FOR THE SIX MONTHS ENDED JUNE 30, 2022

(Unaudited)

CURRENT QUARTER

YEAR TO DATE

CUMULATIVE

FROM

JUNE 30

JUNE 30

INCEPTION TO

(April 26, 2000)

Operating expenses:

General administrative

Write off investment in China Unrealised FX (Gain)/loss on translation

Research and development Impairment loss on assets Total operating expenses

Profit / (loss) from operations

Other income (expense) Sale of investment in EESTech Africa Pty Ltd

Licence fees Other income Rental income

Write back of director loans Discounts received Interest income

Interest expense

Loss on disposition of assets Provision for taxes

Net Profit/(Loss)

Other comprehensive income

Total comprehensive income/(loss) for the period

2022

2021

2022

2021

JUNE 30, 2022

$

$

$

$

$

226,650

175,802

508,500

569,483

31,732,758

-

-

-

-

477,252

-

-

-

-

(1,064,812)

-

-

-

-

1,200,466

-

-

-

-

4,836,392

226,650

175,802

508,500

569,483

37,182,056

(226,650)

(175,802)

(508,500)

(569,483)

(37,182,056)

-

-

-

-

968,180

-

-

-

-

619,301

53,877

-

53,877

-

139,128

7,046

-

-

-

-

581,848

-

-

-

-

79,291

-

-

-

-

56,029

-

-

-

-

(123,384)

-

-

-

-

(26,495)

-

-

-

-

(1,169)

(172,773)

(175,802)

(454,623)

(569,483)

(34,882,281)

(24,751)

12,466

(26,421)

21,975

(1,650,862)

(197,524)

(163,336)

(481,044)

(547,508)

(36,533,143)

Total comprehensive loss for the year attributable to:

Owners of EESTech Inc

(103,358)

(147,665)

(415,548)

(517,732)

(36,448,293)

Non Controlling Interests

(94,166)

(15,671)

(65,496)

(29,776)

(84,850)

The accompanying notes are an integral part of these financial statements

2

EESTECH INC. AND SUBSIDIARIES

(A DEVELOPMENT STAGE COMPANY)

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) AND COMPREHENSIVE LOSS

(Unaudited)

Deficit

Accumulated

other

Change in

Total Stock

accumulated

Non-

compre-

Proportionate

-holders'

Common Stock

during

Controlling

Total Equity

hensive

interest

equity

development

Interests

income

reserve

(deficit)

stage

/(loss)

Additional

Shares

Shares issued

paid-in

subscribed

capital

Par Number

Par

Value

Balance December 31, 2020 (Restated) Issuance of stock for cash

Issuance of stock for services and settlement of debt

Net Loss

Adjustment for foreign currency translations

Balance December 31, 2021 (Restated)

Issuance of stock for cash

Issuance of stock for services and settlement of debt

Net Loss

Adjustment for foreign currency translations

Balance June 30, 2022

No.

$0.00

$

$

$

$

$

$

$

$

184,373,533

185,547

33,473,112

16,375

(33,130,079)

(1,531,011)

978,245

(7,811)

(920,838)

(928,650)

35,740,362

35,740

1,560,976

-

-

-

-

1,596,716

-

1,596,716

18,887,865

18,888

721,646

(2,857)

-

-

-

737,677

-

737,677

-

-

-

-

(1,352,260)

-

-

(1,352,260)

(76,739)

(1,428,999)

-

-

-

-

-

(19,383)

-

(19,383)

-

(19,383)

239,001,760

240,175

35,755,734

13,518

(34,482,339)

(1,550,394)

978,245

954,939

(997,577)

(42,638)

14,983,207

14,983

584,374

-

-

-

-

599,357

-

599,357

1,128,730

1,128

31,765

-

-

-

-

32,893

-

32,893

-

-

-

-

(389,139)

-

-

(389,139)

(65,496)

(454,635)

-

-

-

-

-

(26,421)

-

(26,421)

-

(26,421)

255,113,697

256,286

36,371,873

13,518

(34,871,478)

(1,576,815)

978,245

1,171,629

(1,063,073)

108,556

The accompanying notes are an integral part of these financial statements

3

EESTECH INC. AND SUBSIDIARIES

(A DEVELOPMENT STAGE COMPANY)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2022 (Unaudited)

Cash flows from operating activities: Net profit / (loss)

Adjustments to reconcile net loss to net cash used in operating activities: Amortization and depreciation Amounts credited to provisions

Impairment of intellectual property and goodwill Gain on sale of EESTech Africa Pty Ltd shares Unrealised FX Gains

Writeback of related party loans

Shares issued for services and settlement of debt Loss on sale of property

Changes in assets and liabilities: Increase/(Decrease) in accounts payable Increase/(Decrease) in accruals (Increase)/Decrease in prepaid expenses (Increase)/Decrease in other receivables

Net cash used in operations

Cash flows used by investing activities: Acquisition of plant and equipment Investment in subsidiaries

Investment in Licence

Investment in Liquatech

Proceeds on sale of investment in EESTech Africa Investment in Delta E Technology

Investment in HCGT Technology Investment in EMS

Net cash used in investing activities

Cash flows from financing activities: Issuance of common stock

Loan from/(repaid to) shareholder Loan from/(repaid to) subsidiary Loans from (repaid) to EESTech Inc Proceeds from issuance of debentures Principal repayments under finance leases Deferred lease

Net cash from financing activities

Comprehensive gain (loss) on translation

Net increase (decrease) in cash

Cash, beginning of period

Cash, end of period

YEAR TO DATE

YEAR TO DATE

CUMULATIVE TO

JUNE 30, 2022

JUNE 30, 2021

JUNE 30, 2022

$

$

$

(454,623)

(569,483)

(33,636,616)

6,919

4,345

241,719

-

-

2,558

-

-

4,836,373

-

-

(968,180)

-

-

(1,419,451)

-

-

(128,965)

32,893

188,346

12,947,172

-

-

29,015

5,406

62,099

1,293,474

(32,562)

30,240

214,797

23,508

-

(34,010)

(2,609)

86

(46,230)

(421,904)

(284,367)

(16,668,344)

(32,662)

(3,828)

(331,350)

-

-

(58)

-

-

(7,500)

-

-

(8)

-

-

968,256

-

-

(39,833)

-

-

(1,816,492)

-

(60,000)

(504,354)

(32,662)

(63,828)

(1,731,339)

599,360

347,539

18,967,392

(21,768)

(1,104)

293,883

8,568

-

886

(879)

-

(879)

-

-

41,815

-

-

(45,506)

-

-

46,703

585,281

346,435

19,304,294

10,972

22,017

(345,277)

142,523

20,258

559,333

416,811

82,250

-

559,333

102,508

559,333

The accompanying notes are an integral part of these financial statements

4

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Eestech Inc. published this content on 09 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2022 23:03:03 UTC.