General European Strategic Investments : AUDITED FISCAL 2020 Dec 31

GENERAL EUROPEAN STRATEGIC INVESTMENTS, INC.

Audited Financial Statements

For the years ended December 31,2020 and December 31,2019

GENERAL EUROPEAN STRATEGIC INVESTMENTS, INC.

INDEX TO FINANCIAL STATEMENTS

	Page
Report of Independent Registered Public Accounting Firm	F-1
Balance Sheets as of December 31, 2020, and 2019	F-2
Statements of Operations for the Years ended December 31, 2020, and 2019	F-3
Statements of Stockholders' Deficit for the Years ended December 31, 2020, and 2019	F-4
Statements of Cash Flows for the Years ended December 31, 2020, and 2019	F-5
Notes to the Financial Statements	F6-F12

Report of Independent Registered Public Accounting Firm

To the shareholders and the board of General European Strategic Investment, Inc.

We have audited the accompanying balance sheets of General European Strategic Investment, Inc. (the "Company") as of December 31, 2020, and 2019 and the related statements of operations, changes in shareholders' equity and cash flows, for each of the two years in the period ended December 31, 2020, and 2019, and the related notes collectively referred to as the "financial statements".

In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2020, and 2019, and the results of its operations and its cash flows for the year ended December 31, 2020, and 2019, in conformity with U.S. generally accepted accounting principles.

Going Concern

The accompanying financial statements have been prepared assuming the company will continue as a going concern as disclosed in Note 4 to the financial statement, the Company has continuously incurred a net loss of $(1,463,776) for the year ended December 31, 2020, and an accumulated deficit of $(151,707,809), and a working capital deficit of $(3,034,677) of as at December 31, 2020. The continuation of the Company as a going concern through December 31, 2020, is dependent upon improving the profitability and the continuing financial support from its stockholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company's obligations as they become due.

These factors raise substantial doubt about the company ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of the uncertainty.

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. 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. 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

OLAYINKA OYEBOLA & CO. (Chartered Accountants)

We have served as the Company's auditor since March 2022.

August 23rd, 2022.

Houston Texas

F-1

GENERAL EUROPEAN STRATEGIC INVESTMENTS, INC.

Balance Sheets

(Expressed in United States dollars)
	As at December 31,	As at December 31,
		2020		2019
ASSETS
Current Assets
Cash	$	3,245	$	838
Receivables and prepaid expenses and deposits		35,273		53,040
Total Current Assets		38,518		53,878
Non-current assets
Equipment		-		403
Mining licenses (note 4)		25,869,376		-
TOTAL ASSETS	$	25,907,894	$	54,281
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable and advances payable	$	331,084	$	497,042
Convertible promissory notes		70,000		20,000
Loans payable		49,309		-
Related party advances		2,622,803		1,020,531
Total Current Liabilities		3,073,196		1,537,573
Stockholders' equity
Common stock, par value $0.0001
490,000,000 shares authorized, 302,646,485 and 257,691,954 shares
issued and outstanding as at December 31, 2020 and 2019	$	30,264	$	25,769
Series A1 Preferred stock, par value $0.001
1 authorized
1 issued and outstanding as at December 31, 2021		-		-
Series B Preferred stock, par value $0.00001
100,000 authorized
100,000 issued and outstanding as at December 31, 2020		1		-
Additional paid-up capital		174,433,692		148,654,732
Accumulated other comprehensive income		78,550		80,240
Accumulated deficit		(151,707,809)		(150,244,033)
Total Stockholder Equity		22,834,698		(1,483,292)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	25,907,894	$	54,281

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

F-2

GENERAL EUROPEAN STRATEGIC INVESTMENTS, INC.
Statements of Operations
For the years ended December 31, 2020, and 2019
(Expressed in United States dollars)
	2020	2019
	$	$
Revenue	1,093,572	754,805
Cost of sales	608,859	26,777
Gross Profit	484,713	728,028
Expenses
Consulting & Professional Fee	50,000	20,000
General and Administrative	1,826,274	368,562
Loss from Operation	(1,391,561)	339,466
Other Income / (Expense)
Interest expense	24,489	-
Total Other Expense	(24,489)	-
Income taxes	47,726	-
Net loss for the year	(1,463,776)	339,465
Other Comprehensive Income
Translation Adjustment	(1,690)	-
Total Comprehensive Income / (Loss)	(1,465,466)	339,465

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

F-3