James Maritime : Year End March 31, 2022

James Maritime Holdings, Inc.

Financial Statements

For the Years Ended March 31, 2022, and 2021

(Unaudited)

JAMES MARITIME HOLDINGS, INC.

Balance Sheets

(Unaudited)

		March 31,		March, 31
		2021		2020
Assets
Current Assets:
Cash		159,530		-
Cash	$	157,219	$	806
Total Current Assets		316,749		806
Total Assets
$	316,749	$	806
Liabilities and Stockholders' Equity (Deficit)
Current Liabilities
Accounts Payable		31,467		-
Other Current Liabilities		11,941		10,144
Total Current Liabilities		43,408		10,144
Long Term Liabilities		310,275
Total Liabilities
	353,683		10,144
Stockholders' equity (deficit):
Preferred stock, $0.001 par value; 10,000,000 shares
authorized;
Series A Preferred stock; 2,000,000 shares authorized,
issued and outstanding		400		2,000
Series B Preferred stock; 1,000,000 shares authorized;
-0- shares issued and outstanding		-		-
Common stock, $0.001 par value; 90,000,000
shares authorized; 4,387,462 and 30,987,462 shares
issued and outstanding		7,404		4,387
Goodwill		438,834
Additional paid-in capital		10,761,792		10,864,048
Accumulated deficit		(11,208,430)		(10,879,773)
Total stockholders' equity (deficit)		(36,934)		(9,338)
Total liabilities and stockholders' equity (deficit)	$	316,749	$	806

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

F-1

JAMES MARITIME HOLDINGS, INC.

Statements of Operations

(Unaudited)

			March 31,
Revenue	$		2022	$			2021
	498,781			-
Cost of Goods Sold			311,613				-
Gross Profit			187,168				-
Operating expenses:
General and administrative			512,825				194,618
Loss from operations			(328,657)				(194,618)
Other Income (Expense)			-				-
Net loss before taxes	$		(328,657)	$			(194,618)
Income tax expense			-				-
Net loss	$		(328,657)	$			(194,618)
Net loss per share of common stock -
basic and diluted	$		(0.04)	$			(0.01)
Weighted average number of common shares -
basic and diluted			7,404,129				4,187,492

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

F-2

JAMES MARITIME HOLDINGS, INC. Statement of Stockholders' Equity (Deficit) (Unaudited)

																											Total Stock-
		Series A				Series B									Additional			Accumulate			holders'
		Preferred Stock			Preferred Stock			Common Stock			Paid-In			d			Equity
		Shares				Amount			Shares			Amount			Shares			Amount			Capital			Deficit			(Deficit)
Balance		$							$						$			$			$			$
2,000,000		2,000				-	30,987,462	30,987	10,637,448	(10,685,155)	(14,720)
March 31, 2020
Common Shares												(27,000,000)			(27,000)			27,000						-
canceled for
intended acquisition
Sale of Common												150,000			150			74,850						75,000
Shares
Common Shares												250,000			250			124,750
issued for consulting																										125,000
Net Loss, year ended																							(194,618)			(194,618)
March 31, 2021
Balance		$							$						$			$			$
2,000,000		2,000	-	-	4,387,462	4,387	10,864,048	(10,879,773)			(9,338)
March 31, 2021
Conversion of	(1,600,000)				(1,600)							750,000			750									(850)
Preferred shares to
common
Sale of Common												100,000			100			74,900						75,000
Shares
Acquisition of												866,667			867			(453,156)						(49,089)
Gladiator Solutions
Inc.
Common Shares												1,300,000			1,300			276,000						276,000
issued for services
Net Loss, year ended																							(328,657)			(328,657)
March 31, 2021
Balance		$							$						$			$			$			$
400,000		400	-	-	7,404,129	7,404	10,761,792	(11,208,430)	(36,934)
March 31, 2021

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

F-3

JAMES MARITIME HOLDINGS, INC.

Statements of Cash Flows

(Unaudited)

		March 31,
Cash flows from operating activities:		2022		2021
Net loss	$	(328,657)	$	(194,618)
Adjustments to reconcile net loss to net cash used
by operating activities
Stock issued for services		249,000		125,000
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable		(157,219)		-
Increase (decrease) in accounts payable		21,323		(4,576)
Increase (decrease) in other current liabilities		11,941		-
Net cash used in operating activities		(203,612)		(74,194)
Cash flows from investing activities:		-		-
Cash flows from financing activities:
Increase (decrease) in long term liabilities		287,336
Proceeds from sale of common stock		75,000		75,000
Net cash provided by financing activities		362,336		75,000
Net increase in cash		158,724		806
Cash, beginning of period		806		-
Cash, end of period	$	159,530	$	806
Supplemental disclosure of cash flow information:
Cash paid during the period for:
Income Taxes	$	-	$	-
Interest	$	-	$	-

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

F-4