LeanLife Health : Interim FS

LeanLife Health Inc.

Condensed Interim Consolidated Financial Statements

(Expressed in Canadian Dollars - Unaudited)

For the Three and Nine Months Ended December 31, 2021 and 2020

LeanLife Health Inc.

Table of Contents

(Expressed in Canadian Dollars - Unaudited)

Notice to Readers ......................................................................................................................................	2
Financial Statements
Condensed Interim Consolidated Statements of Financial Position ................................................	3
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss ...........................	4
Condensed Interim Consolidated Statements of Changes in Shareholders' Equity ........................	5
Condensed Interim Consolidated Statements of Cash Flow ...........................................................	6
Notes to Condensed Interim Consolidated Financial Statements....................................................	7

NOTICE OF NO AUDITOR REVIEW OF

CONDENSED INTERIM FINANCIAL STATEMENTS

Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the condensed interim consolidated financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.

The accompanying unaudited condensed interim consolidated financial statements have been prepared by and are the responsibility of management.

The Company's independent auditor has not performed a review of these financial statements in accordance with the standards established by the Chartered Professional Accountants of Canada for a review of condensed interim financial statements by an entity's auditor.

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LeanLife Health Inc.

Condensed Interim Consolidated Statements of Financial Position

(Expressed in Canadian Dollars - Unaudited)

		December 31,	March 31,
	Note	2021	2021
		$	$
ASSETS
Current assets
Cash		4,065	263,169
GST receivable		147,201	107,158
Inventory	5	662,117	177,796
Prepaids		107,296	86,944
Deposit		-	301,250
Due from related party	10	174,973	200,244
		1,095,652	1,136,561
Equipment	6	151,596	150,229
		1,247,248	1,286,790
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities	7	1,313,137	456,882
Loans payable	8	178,985	250,000
Advances and amounts owing to related parties	11	568,413	195,761
Derivative liability	9	50,829	154,301
		2,111,364	1,056,944
SHAREHOLDERS' EQUITY (DEFICIT)
Share capital	10	16,773,913	15,770,359
Reserves	10	1,149,043	1,251,438
Subscriptions receivable		44,675	(85,125)
Commitment to issue shares		-	22,500
Accumulated deficit		(18,831,747)	(16,729,326)
		(864,116)	229,846
		1,247,248	1,286,790

Nature and continuance of operations (Note 1)

Commitments (Note 12)

Subsequent events (Note 16)

These condensed interim consolidated financial statements were authorized for issue by the Board of Directors on March 1, 2022. They are signed on the Board's behalf by:

"Stan Lis"		"Glen Macdonald"
Director		Director

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

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LeanLife Health Inc.

Condensed Interim Consolidated Statements of Loss and Comprehensive Loss (Expressed in Canadian Dollars - Unaudited)

	Three months ended	Nine months ended
		December 31,		December 31,
Note	2021	2020	2021	2020
	$	$	$	$
Operating expenses
Advertising and promotion	116,940	255,230	380,086	255,230
Consulting fees	262,500	302,252	273,929	529,705
Depreciation	571	724	1,713	1,510
Engineering and testing	-	37,764	29,182	151,264
Foreign exchange (gain) loss	277	-	(659)	-
Interest expense	2,985	(992)	10,747	-
Investor relations (recovery)	-	-	46,500	-
Management and directors fees	152,000	80,500	332,500	248,500
Office and general	52,380	30,895	164,433	103,578
Product marketing	69,870	160,885	413,525	369,007
Professional fees	18,945	82,984	211,786	227,264
Share-based compensation	-	512,126	198,659	631,245
Storage and warehousing	17,712	-	54,297	-
Transfer agent and filing fees	29,114	27,720	59,371	46,815
Travel	-	-	11,583	-
Website	-	-	18,241	-
	723,294	1,490,088	2,205,893	2,564,118
Loss before other items	(723,294)	(1,490,088)	(2,205,893)	(2,564,118)
Other items
Gain on derivative liability	57,146	-	103,472	-
Gain on settlement of debt	-	-	-	344,432
	57,146	-	103,472	344,432
Net loss and comprehensive loss	(666,148)	(1,490,088)	(2,102,421)	(2,219,686)
Basic and diluted net loss per
share	(0.00)	(0.01)	(0.01)	(0.01)
Basic and diluted weighted average
number of shares	206,793,034	186,936,077	200,493,895	186,936,077

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

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