UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

Form 10-Q☒

☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED:  June 30, 2020March 31, 2021

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 

For the transition period from __________ to __________

Commission File Number: 333-171636________________

INSPIRED BUILDERS, INC.GUSKIN GOLD CORP.

(Exact name of registrant as specified in its charter)

2nd Brewery Link Box mp 27974500 Great America Parkway, PMB 38, Ste 100

Momprobi-Accro, GhanaSanta Clara, CA 95054

 (Address of principal executive offices, Zip Code)

+233 244 887 610(408) 766-1511

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act: None

Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☐ No ☒

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  ☐Yes ☒ No ☐

Securities registered pursuant to Section 12(b) of the Act:

The number of shares of registrant’s common stock outstanding as of August 13, 2020May 14, 2021 was 1,011,254.50,211,265.

FORM 10-Q

GUSKIN GOLD CORP.

FKA INSPIRED BUILDERS, INC.

June 30, 2020March 31, 2021

TABLE OF CONTENTS

FORWARD LOOKING STATEMENTS

This report contains forward-looking statements regarding our business, financial condition, results of operations and prospects. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements, but are not deemed to represent an all-inclusive means of identifying forward-looking statements as denoted in this report. Additionally, statements concerning future matters are forward-looking statements.

Although forward-looking statements in this report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by us. Consequently, forward-looking statements are inherently subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in or anticipated by the forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, without limitation, those specifically addressed under the headings “Risks Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our report on Form 10-K which was filed with the SEC on November 12, 2019January 8, 2021 (the “10-K”), in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Form 10-Q and information contained in other reports that we file with the SEC. You are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this report.

We file reports with the SEC. The SEC maintains a website (www.sec.gov) that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC, including us. You can also read and copy any materials we file with the SEC at the SEC’s Public Reference Room at 100 F Street, NE, Washington, DC 20549. You can obtain additional information about the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330.

We undertake no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this report, except as required by law. Readers are urged to carefully review and consider the various disclosures made throughout the entirety of this quarterly report, which are designed to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects.

PART I. FINANCIAL INFORMATION

GUSKIN GOLD CORP.

FKA INSPIRED BUILDERS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

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

GUSKIN GOLD CORP.

FKA INSPIRED BUILDERS, INC.

CONDENSED STATEMENTSCONSOLIDATED STATEMENT OF OPERATIONS

(Unaudited)

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

GUSKIN GOLD CORP.

FKA INSPIRED BUILDERS, INC.

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ DEFICIT

FOR THE NINE MONTH PERIODS ENDED JUNE 30, 2020 AND JUNE 30, 2019

(Unaudited)

Statement of Stockholders’ Deficit for the Nine Months ended June 30, 2020

Statement of Stockholders’ Deficit for the Nine Months ended June 30, 2019

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

GUSKIN GOLD CORP.

FKA INSPIRED BUILDERS, INC.

CONDENSED STATEMENTSCONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited)

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

GUSKIN GOLD CORP.

FKA INSPIRED BUILDERS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE NINE MONTH PERIODSIX MONTHS ENDED JUNE 30, 2020 and JUNE 30, 2019MARCH 31, 2021

(Unaudited)

Note 1 – Organization and Basis of Accounting

Basis of Presentation and OrganizationOverview

Inspired Builders, Inc. (the “Company”,“Guskin”, “We”, and “Us”) was incorporated in the State of Nevada in February 2010. Until August 15, 2017 the Company was directing its focus on acquiring, investing in, developing and managing real estate properties and related investments. On August 15, 2017, pursuant to a change in control transaction, we relocated to Miami, Florida and ceased all operations as a real estate company.

On January 16, 2020, Santa Alba, LLC sold the 956,440 shares of common stock to Custodian Ventures, LLC for an aggregate purchase price of $145,000. At this point there was a change of control of the Company and Kai Ming Zhao resigned as President, Secretary, Treasurer and Director and David Lazar was appointed as President, Secretary, Treasurer and Director.

On April 30, 2020, Custodian Ventures, LLC, a Wyoming limited liability company (“CVL”) and Inspired Builders, Inc., a Nevada corporation (the “Company”)the Company entered into a Stock Purchase Agreement (the “Agreement”) with U Green Enterprise, a Ghana corporation (the “Purchaser”). The Agreement closed upon execution on April 30, 2020 (“Closing”). Pursuant to the Agreement, CVL agreed to sell and Purchaser agreed to purchase 956,440 restricted common stock shares of the Company (the “Shares”), representing approximately 94.6% of the Company’s outstanding shares of common stock. Pursuant to the Agreement, Purchaser agreed to pay CVL as follows: (i) $157,640 payable at the Closing in exchange for the Shares, and (ii) to repay the loannote outstanding to CVL in amount of $67,360 immediately following the Closing. The Agreement resulted in a change of control of the Company and David Lazar resigned effective immediately as the Company’s Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer and sole director and Edward Somuah was appointed as the Company’s Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer and sole director.

Guskin Gold Corporation (“GGC”) was incorporated in May 28, 2020 in the state of Nevada. GGC’s business activity is the early-stage development of a business focusing on the acquisition of gold properties, and the exploration and potential development of small-scale gold mining operations in the Republic of Ghana, West Africa.

On September 3, 2020, the Company entered into a Share Exchange Agreement (the “Share Exchange Agreement”) with GGC, and the controlling stockholders of GGC (the “GGC Shareholders”). Pursuant to the Share Exchange Agreement, the Company acquired One Hundred Percent (100%) the issued and outstanding equity interest of GGC from the GGC Shareholders (the “GGC Shares”) and in exchange the Company issued to GGC an aggregate of Twenty-Eight Million Two Hundred Thousand (28,200,000) shares of restricted common stock of the Company.

The accompanying unaudited condensedShare Exchange is accounted for as a reverse recapitalization under U.S. GAAP as the Share Exchange results in a change of control of the Company. GGC was determined to be the accounting acquirer based upon the terms of the Share Exchange and other factors including: (i) GGC’s shareholders are expected to own approximately 96.54% of the Company issued and outstanding common stock immediately following the effective time of the Share Exchange (the “Closing”), and (ii) GGC’s management will hold all key positions in the management of the combined company.

As of September 22, 2020 (the “Closing Date”), GGC provided us with valid and accepted audited financial statements, accordingly the transactions contemplated by the Share Exchange Agreement have been preparedsatisfied, accordingly the Share Exchange Agreement is closed (“Closing”).

The Company filed the Amended Articles of Incorporation effecting the Name Change with the Nevada Secretary of State, effective November 30, 2020. As previously reported, shareholders approved the Name Change and Symbol Change on September 22, 2020 in accordanceconnection with accounting principles generally accepted in The United States of America and the rules and regulationsClosing of the SecuritiesShare Exchange Agreement between the Company and Exchange Commission for interim financial information. Accordingly, they do not include allGuskin Gold Corp.

On December 3, 2020, the Financial Industry Regulatory Authority (“FINRA”) announced the effectiveness of a change in the information necessary forCompany’s name from “Inspired Builders, Inc.” to “Guskin Gold Corp.” (the “Name Change”) and a comprehensive presentation of financial position and results of operations.change in the Company’s ticker symbol from “ISRB” to the new trading symbol “GKIN” (the “Symbol Change”). Trading under the new ticker symbol began at market opening December 4, 2020. The unaudited condensed financial statements should be read in conjunction with the financial statements and related notes included in our Annual Report on form 10-K for the year ended September 30, 2019, filed with the SEC on November 12, 2019. The interim results for the period ended June 30, 2020 are not necessarily indicative of expected results for the full fiscal year. It is management’s opinion, however that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statements presentation.Company’s CUSIP also changed to 40330L100.

Note 2 – Summary of significant accounting policies

Basis of Presentation

The Company’s interim unaudited condensed consolidated financial statements included in this Quarterly Report on Form 10-Q (this “Quarterly Report”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of the Company’s management, all adjustments (consisting of normal recurring adjustments and reclassifications and non-recurring adjustments) necessary to present fairly our results of operations for the three and six months ended March 31, 2021 and cash flows for the six months ended March 31, 2021 and our financial position at March 31, 2021 have been made. The Company’s results of operations for the three and six months ended March 31, 2021 are not necessarily indicative of the operating results to be expected for the full fiscal year ending September 30, 2021.

Certain information and disclosures normally included in the notes to the Company’s annual audited consolidated financial statements have been condensed or omitted from the Company’s interim unaudited condensed consolidated financial statements included in this Quarterly Report. Accordingly, these interim unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the fiscal year ended September 30, 2020. The September 30, 2020 balance sheet is derived from those statements.

Principles of Consolidation

The Company prepares its consolidated financial statements on the accrual basis of accounting. The accompanying consolidated financial statements include the accounts of the Company and GGC, its wholly owned subsidiary. All intercompany accounts, balances and transactions have been eliminated in the consolidation.

Cash and Cash Equivalents

For purposes of reporting within the statements of cash flows, the Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents.

Earnings (Loss) per Share

In accordance with accounting guidance now codified as FASB ASC Topic 260, “Earnings per Share,” basic earnings (loss) per share is computed by dividing net income (loss) by weighted average number of shares of common stock outstanding during each period. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. As of June 30, 2020 and 2019,March 31, 2021, the Company had 10,000,000 and 012,500,000 shares of common stock outstanding dilutive securitiesissuable upon conversion of convertible notes held, respectively.which are excluded from loss per share calculation as their effect are anti-dilutive.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Revenue RecognitionFair Value of Financial Investments

Effective OctoberASC 825, “Disclosures about Fair Value of Financial Instruments”, requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2021 and September 30, 2020.

Authoritative literature provides a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement as follows:

Level 1 2018,- Quoted market prices available in active markets for identical assets or liabilities that the Company adoptedhas the guidanceability to access at the measurement date.

Level 2 - Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs).

Level 3 - Unobservable inputs that reflect our assumptions about the assumptions that market participants would use in pricing the asset or liability.

The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values. These financial instruments include cash, accounts payable, accrued liabilities, convertible notes, loans payable, and notes payable. Fair values were assumed to approximate carrying values for these financial instruments due to their short-term maturities.

We account for derivative liability at fair value on a recurring basis under level 3 at March 31, 2021 and September 30, 2020 (see Note 7).

Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with ASC 606, Revenue from Contracts. 718 Compensation - Stock Compensation (“ASC 718”). ASC 718 addresses all forms of share-based payment awards including shares issued under employee stock purchase plans and stock incentive shares. Under ASC 718 awards result in a cost that is measured at fair value on the awards’ grant date, based on the estimated number of awards that are expected to vest and will result in a charge to operations.

Derivative Instrument Liability

The implementationCompany accounts for derivative instruments in accordance with ASC 815, which establishes accounting and reporting standards for derivative instruments and hedging activities, including certain derivative instruments embedded in other financial instruments or contracts and requires recognition of ASC 606all derivatives on the balance sheet at fair value, regardless of hedging relationship designation. Accounting for changes in fair value of the derivative instruments depends on whether the derivatives qualify as hedging relationships and the types of relationships designated are based on the exposures hedged. At March 31, 2021 and September 30, 2020, the Company had a derivative liability of $2,125,002 and $2,125,113, respectively.

Recent Accounting Pronouncements

Recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC did not or in management’s opinion will not have a material impact on the Company’s financial statements. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the contractspresent or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients. The adoption of ASC 606 had no effect on previously reported balances.

We have no source of revenue as we are currently a shell company which is moving forward with the business of identifying and entering into a business combination with a privately held business or company. As such, we recognize no revenue.

Fair Value of Financial Investments

The fair value of cash and cash equivalents, accounts payable, accrued liabilities, and loans and notes payable approximates the carrying amount of these financial instruments due to their short-term maturity.

Recent Accounting Pronouncements

In July 2018, the FASB issued accounting standard update (“ASU”) No. 2017-02, “Leases (Topic 842)”, (“ASU 2017-02”) and ASU 2018-10, “Leases (Topic 842)”, (“ASU 2018-10”), respectively. These ASU’s require that an entity should recognize assets and liabilities for leases with a maximum possible term of more than 12 months. A lessee would recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the leased asset (the underlying asset) for the lease term. This guidance also provides accounting updates with respect to lessor accounting under a lease arrangement. This new lease guidance is effective for fiscal years beginning after December 15, 2018. Entities have the option of using either a full retrospective or a modified approach (cumulative effect adjustment in period of adoption) to adopt the new guidance. Early adoption is permitted for all entities. The Company currently leases no equipment or property, and therefore, the adoption on October 1, 2019 of the new standard has no effect on the Company’sfuture consolidated financial statements.

Accounting standards-setting organizations frequently issue new or revised accounting rules. We regularly review all new pronouncements to determine their impact, if any, on our financial statements.

Note 3 – Going Concern

As reflected in the accompanying condensed consolidated financial statements, the Company has a net loss of $1,710,680, an accumulated deficit of $3,224,565 and working capital deficit of $1,732,737 as of June 30, 2020.$2,543,424 for the six months ended March 31, 2021. In addition, the Company has an accumulated deficit of $2,614,574 and a working capital deficit of $2,400,973 as of March 31, 2021.

The accompanying consolidated financial statements have been prepared assuming the continuation of the Company as a going concern. The Company has not hadyet established an ongoing source of revenues since May 2011sufficient to cover its operating costs and has reliedis dependent on the support of its presidentdebt and majority shareholder. A withdrawal of this support, for any reason, will have a material adverse effect on the Company’s financial position andequity financing to fund its operations. IfManagement of the Company does not beginis making efforts to generate sufficient revenue or raise additional funds through a financing,funding. While management of the Company may need to incur additional liabilities with certain related parties to sustainbelieves that it will be successful in its capital formation and planned operating activities, there can be no assurance that the Company’s existence. There are currently no plans or agreements in place to provide such funding. The Company will requirebe able to raise additional funding to financeequity capital or be successful in the growthdevelopment and commercialization of its future operations as well as to achieve its strategic objectives. This raisesthe products it develops or initiates collaboration agreements thereon. Therefore, there is substantial doubt about itsthe Company’s ability to continue as a going concern. The abilityaccompanying consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and generate revenue. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

The COVID-19 pandemic could have an impact on our ability to obtain financing to fund the operations. The Company is unable to predict the ultimate impact at this time.

Note 4 – Loans Payable - Related Party and Related Party Transactions

During the period OctoberOn June 1, 2019 thru January 16, 2020, Kai Ming Zhao advanced a total of $6,079 to the Company to pay operating expenses.entered into a loan agreement with Naana Asante, our Chief Executive Officer, in the amount of $1,630 for expenses paid for on behalf of the company. On June 18, 2020, the Company received an additional $4,500 from Naana Asante for expenses paid on behalf of the Company. The unsecured loans mature on June 1, 2021 and bears an interest rate of 2.5%. During the six months ended March 31, 2020, the loan balance of $9,341 was fully repaid. As of June 30, 2020,2021, the Company hadrepaid $3,097 of this loan.

On February 5, 2021, the Company entered into a loan agreement with Naana Asante, our Chief Executive Officer, in the amount of $17,000 for expenses paid for on behalf of the company. The unsecured loan bears an interest rate of 2.5% and is payable remainingone year from the date of $0 to Kai Ming Zhao.signing.

On February 22, 2021, the Company entered into a loan agreement with Naana Asante, our Chief Executive Officer, in the amount of $12,500 for expenses paid for on behalf of the company. The unsecured loan bears an interest rate of 2.5% and is payable one year from the date of signing.

During the period January 17,from May 28, 2020 thru(inception) to September 30, 2020, the Company received $354 of payments toward company related expenses, which were paid on its behalf by Naana Asante, the Chief Executive Officer. During the six months ended March 31, 2021, the Company received an additional $2,264 of payments toward company related expenses, which were paid on its behalf by Naana Asante, the Chief Executive Officer. The loan is non-interest bearing and due on demand. As of March 31, 2021, the loan balance outstanding is $2,618.

As of March 31, 2021, the total loans outstanding due to Naana Asante, our Chief Executive Officer is $35,151 and accrued interest balance is $238.

On June 1, 2020, the Company entered into a loan agreement with an entity controlled by a shareholder in the amount of $3,500 for expenses paid for on behalf of the Company. On June 26, 2020, the Company received an additional $5,910 for expenses paid on behalf of the Company. The unsecured loans mature one year from the date of the loan and bears an interest rate of 2.5%. As of March 31, 2021, the accrued interest was $196.

On September 22, 2020, the Company assumed, as part of the reverse merger and share exchange agreement a related party loan payable dated April 30, 2020, Custodian Ventures, LLC advanced a total of $67,360owed to the Company to pay operating expenses.

On April 30, 2020, U Green Enterprise, a Ghana corporation controlled by our Chief Executive Officer agreed to repay the note outstanding to Custodian Ventures, LLC in amount of $67,360. In addition, Custodian agreed to waive their rights to any and all debt owed to them including interest. Also a total of $3,968 in Company related expenses were paid by Custodian Ventures, LLC. This was recorded in additional paid in capital as contributed capital.Financial Officer. As of June 30, 2020, $0 was owed to Custodian Ventures, LLC. During the six months ended June 30, 2020, the Company repaid $52,864 to the related party. As of June 30, 2020,March 31, 2021, the Company had a loan payable of $14,496 owed to U Green Enterprises. The loan payable is non-interest bearing and due on demand.

Note 5 – Loan and notes payable – Related Parties

On January 13, 2012,4, 2021, the Company entered into a 12-month unsecured promissory noteloan agreement with an entity controlled by a shareholder in the amount of $211,000. Interest accrues in arrears on the outstanding principal at the$17,000. The loan is unsecured and bears an interest rate of ten percent (10.00%) per annum. Interest shall be2.5% and is payable on the last day of each quarter, commencing March 30, 2012, and continuing until the maturity date. Should the maker fail to pay the entire principal and accrued interest by the maturity date, the maker agrees that the interest rate shall increase to twelve percent (12.00%) per annum. On May 10, 2013, the Company and the related party agreed to extend the maturity of the loan for an additionalone year or until January 13, 2014. The loan maturity dates were further extended to January 13, 2016. On May 22, 2012, the Company borrowed an additional $32,714 from the related party, with the same terms, the loan maturity dates were extended to January 13, 2016. On September 17, 2012, the Company borrowed an additional $22,032 from the related party, with the same terms, the loan maturity dates were extended to January 13, 2016. On February 7, 2013, the Company borrowed an additional $28,773 from the related party, with the same terms, and on July 31, 2013, the Company borrowed an additional $30,000 from the related party, with the same terms. The loans maturity dates were further extended to February 7, 2016 and July 31, 2016, respectively. On December 20, 2013, the Company borrowed $2,500, on January 7, 2014, the Company borrowed $5,000, on February 6, 2014, the Company borrowed $5,520, the loans maturity dates were further extended to December 20, 2015 and January 7, 2016. On February 17, 2014, the Company borrowed $4,400 and on June 26, 2014, the Company borrowed $3,080, the loans maturity dates were further extended to February 6, 2016 and February 17, 2016, respectively. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $342,519 in principal and $149,258 in accrued interest was forgiven. The transaction was accounted for as contributed capital. On December 31, 2019, the Company obtained a legal opinion that the note payable for $2,500 was no longer collectible under the statutedate of limitations in the State of California, the jurisdiction where the note was written. As a result, the principal amount of $2,500 and accrued interest of $694 was written off and accounted for as Cancellation of Debt Income.

The total outstanding principal at June 30, 2020 and December 31, 2019 amounted to $0 and $0, respectively. Accrued interest at June 30, 2020 and December 31, 2019, amounted to $0 and $0, respectively.

During the period October 1, 2019 thru January 16, 2020, Kai Ming Zhao advanced a total of $6,079 to the Company to pay operating expenses. During the six months ended March 31, 2020, the loan balance of $9,341 was fully repaid.signing. As of March 31, 2020,2021, the Company had a loan payable remaining of $0 to Kai Ming Zhao.accrued interest was $98.

During the period January 17, 2020 thru April 30, 2020, Custodian Ventures, LLC advanced a total of $67,360 to the Company to pay operating expenses.Note 5 – Note payable

On April 30, 2020, U Green Enterprise, a Ghana corporation controlled by our Chief Executive Officer agreed to repay the note outstanding to Custodian Ventures, LLC in amount of $67,360. In addition, Custodian agreed to waive their rights to any and all debt owed to them including interest. Also a total of $3,968 in Company related expenses were paid by Custodian Ventures, LLC. This was recorded in additional paid in capital as contributed capital. As of June 30, 2020, $0 was owed to Custodian Ventures, LLC. During the six months ended June 30,September 22, 2020, the Company repaid $52,864 to the related party. As of June 30, 2020, the Company hadentered into a loan payableagreement with a third party in the amount of $14,496 owed to U Green Enterprises. The$7,500 for expenses paid for on behalf of the Company. This unsecured loan payable is non-interest bearingmatures one year from the date of the loan and due on demand.bears an interest rate of 2.5%.

As of March 31, 2021, $7,500 of note payable remains outstanding. As of March 31, 2021, the accrued interest was $98.

Note 6 – Convertible notes

On May 4,September 22, 2020, the Company beganassumed a convertible note offering of up to $3,000,000 under regulation S.S as part of the reverse merger with Inspired Builders, Inc. The note offering calls for a minimum investment of $10,000. The note bears an interest rate equal to 10% per annum and matures after one year from the date of subscription. The note is convertible at the rate equivalent to the lessor of $0.01 per share or a 20% discount to market based upon the 10 day10-day Volume Weighted Average Price (VWAP0(VWAP) prior to Maturity. The Company intends to regularly issues notes payable which are convertible at a discount of the trading price of the Company’s common stock. Due to these provisions, the embedded conversion option qualified for derivative accounting under ASC 815-15, Derivatives and Hedging. For the period May 4, 2020 thru June 30, 2020, theThe company entered into sixassumed seven convertible note subscriptions totaling $100,000$125,000 with investors.unrelated parties. The Company recorded debt discounts totaling $100,000, which includedconvertible notes have an original issuance cost of $3,849, as well as amortization$7,360, and a debt discount of $117,640 for the fair value of the embedded conversion feature on issuance dates. Amortization of debt discount for the six months ended March 31, 2021 totaled to $63,195. As of $14,722. The company also recordedMarch 31, 2021, accrued interest on these notes totaling $1,472.totaled to $10,896.

A summary of value changes to the notes for the three months ended June 30, 2020 is as follows:

NOTENote 7 – Derivative liability

The Company has determined that the variable conversion prices under its convertible notes caused the embedded conversion feature to be a financial derivative. The derivative instruments were valued at loan origination date, date of debt conversion and at June 30, 2020.March 31, 2021. The fair values of the derivative liabilities related to the conversion options of these notes was estimated on the transaction dates (loan original date and reporting date) using the Black Scholes option pricing model, under the following assumptions:

The change in fair values of the derivative liabilities related to the Convertible Notes for the threesix months ended June 30, 2020March 31, 2021 is summarized as:

Note 8 – Commitments and ContingenciesConcentration of Credit Risk

From time to time, the Company may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise that may harm its business. The Company is currently not awarerelies heavily on the support of its president, majority shareholder and unrelated third parties. A withdrawal of this support, for any such legal proceedings or claims that they believereason, will have individually or in the aggregate, a material adverse effect on the Company’s financial position and its business, financial condition or operating results.operations.

Note 9 – Concentration of Credit RiskCommitment and Contingencies

In March 2020, the World Health Organization categorized the novel coronavirus (COVID-19) as a pandemic, and it continues to spread throughout the United States and the rest of the world with different geographical locations impacted more than others. The outbreak of COVID-19 and public and private sector measures to reduce its transmission, such as the imposition of social distancing and orders to work-from-home, stay-at-home and shelter-in-place, have had a minimal impact on our day to day operations. However, this could impact our efforts to enter into a business combination as other businesses have had to adjust, reduce or suspend their operating activities. The extent of the impact will vary depending on the duration and severity of the economic and operational impacts of COVID-19. The Company relies heavilyis unable to predict the ultimate impact at this time.

On June 1, 2020, (the “commencement date”) the Company entered into a consulting agreement with Dr. Kweku Ainuson to provide consulting services on as needed basis. The consultant shall be responsible for advising the Chief Executive Officer, President, Chief Geologist, and Chairman of the Board of Directors on all legal matters of the Company. In addition, the consultant is to provide legal advice on areas including but not limited to business contracts or any other legal documentation that requires legal expertise; assisting in the management of internal and external legal resources; reading and reviewing legal documents that the Client receives and making sure that they are properly drafted and any other legal services. As compensation for the services provided by Consultant, the Consultant should vest 50,000 shares common shares valued at $0.001 every quarter for total compensation value of 200,000 shares. In addition, every 90 days, from the commencement date, the Company shall pay the consultant $5,000 plus additional fees per quarter.

On August 31, 2020, (the “commencement date”) the Company entered into a three-month term consulting agreement with a consultant to provide consulting services on as needed basis. The consultant shall be responsible to perform business development and general consulting services on a non -exclusive basis for and on behalf of the Client in relation to business development, developing and creating operation documents, and will consult with and advise, as necessary and requested, The Client on matters pertaining to its general business operations. As compensation for the services provided by Consultant, the company shall pay the consultant $7,500 in month one, $2,500 in month two and $2,500 in month three. On December 15, 2020, the Company amended the consulting contract for an additional six months from the amendment date. As compensation for the services provided, the Company shall pay the consultant $2,500 per month.

On January 12, 2021, the Company, entered into a Consulting Agreement with Edward Somuah, (“Mr. Somuah”) an individual, to memorialize and formalize Mr. Somuah’s commitment and services to the Company. Mr. Somuah is currently a member of the Company’s Board of Directors, the Chief Financial Officer, and Secretary, and shall continue on a full-time basis under this Agreement. Mr. Somuah’s leadership role entails being responsible for day-to-day management decisions and for implementing the Company’s long- and short-term plans, including, but not limited to, Business Development and creation of long-term value for the Company’s organization from customers, markets and relationships; advising and consulting on potential growth opportunities for presentation to management and or to fellow Board of Directors as well as the subsequent support and monitoring of project-by-project implementation; consult and lend experience on potential properties/projects, marketing, financial and or management services, investment banking, mergers and acquisitions, legal, strategic human resources, and or management consulting and other matters from time to time as required for the execution of the Company’s exploration and mining business (collectively, the “Services”). This Agreement shall commence on the supportEffective Date and terminate upon the 2-year anniversary of its president and majority shareholder. A withdrawalthe Effective Date of this support,Agreement. Upon, termination any and all Base Salary accrued and unpaid shall be paid and or converted into restricted shares of the Company’s common stock, to be calculated at the then current fair market value of the Company common stock. Thereafter, this Agreement shall be null and void and Consultant shall no longer be entitled to compensation hereunder. Additionally, this Agreement may be terminated by Consultant upon 30 days prior written notice to the Company. At the time of termination, Consultant agrees to return all Company property used in performance of the Services, including but not limited to computers, cell phones, keys, reports and other equipment and documents. Consultant shall reimburse the Company for any reason,Company property lost or damaged in an amount equal to the market price of such property. The Company shall pay Mr. Somuah a monthly salary in the total amount $4,500 per month on a ongoing basis. In addition, the Company issued 13,000,000 restricted common shares valued at $2,340,000 to Mr. Somuah in recognition of his services. 

From time to time, the Company may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise that may harm its business. The Company is currently not aware of any such legal proceedings or claims that they believe will have, individually or in the aggregate, a material adverse effect on the Company’sits business, financial position and its operations.condition or operating results.

Note 10 – Common Stockstock

As of June 30, 2020, 1,011,254On January 11, 2021, the Company issued 13,000,000 shares of common stock with par valuefor services valued at $2,340,000 to Edward Somuah, a member of $0.001 remains outstanding.the Company’s Board of Directors, the Chief Financial Officer, and Secretary as compensation for services rendered. The shares are deemed to be fully earned and vested on the issuance date.

During the six month ended March 31, 2021, the Company received in kind services from the Chief Executive Officer for time spent. The Company recorded in kind service contributions valued at $20,000. This is recorded in additional paid in capital. 

Note 11 – Subsequent Events

On March 26, 2021, the Company entered into a loan agreement with Naana Asante, our Chief Executive Officer, in the amount of $40,000 for expenses paid for on behalf of the company. The Company received the fund on April 1, 2021. The unsecured loan bears an interest rate of 2.5% and is payable one year from the date of signing.

On July 29, 2020,April 10, 2021, the Company entered into a loan agreement with Naana Asante, our Chief Executive Officer, in the amount of $10,000 for expenses paid for on behalf of the company. The Company received the fund on April 14, 2021. The unsecured loan bears an interest rate of 2.5% and is payable one year from the date of signing.

Subsequent to March 31, 2021, the Company received a seventh subscriptionnotices of conversion from the noteholders of convertible notes payable. On May 7, 2021, the Company approved the issuance of 8,000,000 shares of common stock pursuant to the conversion of $80,000 of its Convertible note offering for an aggregate principal amount of $25,000.outstanding convertible notes payable to unrelated parties.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Business Development

Inspired Builders, Inc. (the “Company”) was incorporated inThis discussion summarizes the State of Nevada in February 2010. Until August 15, 2017significant factors affecting the Company was directing its focus on acquiring, investing in, developingoperating results, financial condition, liquidity and managing real estate properties and related investments. On August 15, 2017, pursuant to a change in control transaction, we relocated to Miami, Florida and ceased all operations as a real estate company. On February 15, 2018, Inspired Builders (the “Company”), the majority shareholders of the Company (the “Sellers”) and Santa Alba, LLC (the “Purchaser”) entered into a stock purchase agreement (the “Stock Purchase Agreement”), whereby the Purchaser purchased from the Sellers 956,440 shares of common stock, par value $0.001 per share, of the Company (the “Shares”), representing approximately 94.58% of the issued and outstanding sharescash flows of the Company for an aggregate purchase price of $300,000 (the “Purchase Price”). On February 15, 2018, the closing ofsix month ended March 31, 2021. The discussion and analysis that follows should be read together with our consolidated financial statements and the transaction occurred (“Closing Date”). Also,notes to the consolidated financial statements included elsewhere in connection therewith, Scott Silverman,this Annual Report on Form 10-K. Except for historical information, the matters discussed in this section are forward looking statements that involve risks and uncertainties and are based upon judgments concerning various factors that are beyond the Company’s sole officercontrol. Consequently, and Director, resignedbecause forward-looking statements are inherently subject to risks and uncertainties, the actual results and outcomes may differ materially from his positionsthe results and named Kai Ming Zhao as sole directoroutcomes discussed in the forward-looking statements. You are urged to carefully review and toconsider the positions of CEO, CFO, Chief Accounting Officer and Secretary.various disclosures made by us in this report.

Overview

On January 16,September 22, 2020, Santa Alba, LLC sold the 956,440 shares of common stock to Custodian Ventures, LLC for an aggregate purchase price of $145,000. At this point there was a change of control of the Company and Kai Ming Zhao resigned as President, Secretary, Treasurer and Director and David Lazar was appointed as President, Secretary, Treasurer and Director.

On April 30, 2020, Custodian Ventures, LLC, a Wyoming limited liability company (“CVL”) andGuskin Gold Corp. fka Inspired Builders, Inc., a Nevada corporation (the “Company”) entered into a Stock PurchaseShare Exchange Agreement (the “Agreement”“Share Exchange Agreement”) with U Green Enterprise,Guskin Gold Corporation, a Ghana corporationNevada limited liability company (“GGC”), and the controlling stockholders of GGC (the “Purchaser”). The Agreement closed upon execution on April 30, 2020 (“Closing”“GGC Shareholders”). Pursuant to the Share Exchange Agreement, CVL agreedthe Company acquired One Hundred Percent (100%) the issued and outstanding equity interest of GGC from the GGC Shareholders (the “GGC Shares”) and in exchange the Company issued to sell and Purchaser agreed to purchase 956,440GGC an aggregate of Twenty-Eight Million Two Hundred Thousand (28,200,000) shares of restricted common stock shares of the Company (the “Shares”), representing approximately 94.6% of the Company’s outstanding shares of common stock. Pursuant to the Agreement, Purchaser agreed to pay CVL as follows: (i) $157,640 payable at the Closing in exchange for the Shares, and (ii) to repay the loan outstanding to CVL in amount of $67,360 immediately following the Closing. Additionally, the Company has entered into a consulting agreement with CVL for a 60 day term for the provision of transitional services for the benefit of the Company.  The Closing

On December 3, 2020, the Financial Industry Regulatory Authority (“FINRA”) announced the effectiveness of the Agreement effectuated a change in control of the Company. Company’s name from “Inspired Builders, Inc.” to “Guskin Gold Corp.” (the “Name Change”) and a change in the Company’s ticker symbol from “ISRB” to the new trading symbol “GKIN” (the “Symbol Change”). Trading under the new ticker symbol began at market opening December 4, 2020. The Company’s CUSIP also changed to 40330L100.

As a result of the Closing, the Purchaser owns approximately 94.6%acquisition, we acquired all of the Company's issuedbusiness operations and outstanding common stock. will continue the existing business operations of GGC as a wholly-owned subsidiary of our publicly-traded company.

On April 30, 2020, Mr. David Lazar resigned effective immediately as the Company’s Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer and sole director. Mr. Lazar’s resignation was notAs the result of any disagreement withthis acquisition and the change in business and operations of the Company, on any matter relatinga discussion of the past financial results of the Company is not pertinent, and under applicable accounting principles the historical financial results of GGC, the accounting acquirer, prior to the Company’s operations, policies, practices, or otherwise. The Board approved and accepted Mr. Lazar’s resignation on April 30, 2020. On that same date, Mr. Edward Somuah was appointed to serve asacquisition are considered the Company’s Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer and memberhistorical financial results of the Board of Directors to serve until the next annual meeting and until his successor is duly appointed. Mr. Somuah accepted such appointment on April 30, 2020.Company.

The Company's current business objective is to seek a business combination with an operating company. We intend to use the Company's limited personnel and financial resources in connection with such activities. The Company will utilize its capital stock, debt or a combination of capital stock and debt, in effecting a business combination. It may be expected that entering into a business combination will involve the issuance of restricted shares of capital stock. The issuance of additional shares of our capital stock:

Similarly, if we issued debt securities, it could result in:

The Company’s fiscal year end is September 30.

In March 2020,The following discussion highlights GGC’s results of operations and the World Health Organization categorizedprincipal factors that have affected its financial condition as well as its liquidity and capital resources for the novel coronavirus (COVID-19) as a pandemic,periods described and it continues to spread throughoutprovides information that management believes is relevant for an assessment and understanding of the statements of financial condition and results of operations presented herein. The following discussion and analysis are based on the Company’s audited consolidated financial statements contained in this report, which were prepared in accordance with United States generally accepted accounting principles. You should read the discussion and analysis together with such consolidated financial statements and the rest of the world with different geographical locations impacted more than others. The outbreak of COVID-19 and public and private sector measures to reduce its transmission, such as the imposition of social distancing and orders to work-from-home, stay-at-home and shelter-in-place, have had a minimal impact on our day to day operations. However this could impact our efforts to enter into a business combination as other businesses have had to adjust, reduce or suspend their operating activities. The extent of the impact will vary depending on the duration and severity of the economic and operational impacts of COVID-19. The Company is unable to predict the ultimate impact at this time.related notes thereto.

Results of Operations

For the three months ended June 30, 2020 compared to the three months ended June 30, 2019.March 31, 2021

Operating Expenses

For the three months ended June 30, 2020,March 31, 2021, we incurred operating expenses of $33,608 as compared to $12,003$2,433,806. The operating expenses consisted of legal, accounting, consulting and general and administrative fees. In addition, the operating expenses also include the stock-based compensation of $2,340,000 for the comparable period in 2019. Increase was attributable to increased consulting fees relatedfair value of 13,000,000 shares of common stock issued to the changeCompany’s member of controlBoard of Directors, Chief Financial Officer, and legal fees.Secretary as compensation for services rendered.

Net Loss

For the three months ended June 30, 2020March 31, 2021, we incurred a net loss of $1,665,758 as compared to $12,034 for the comparable period in 2019. The increase$2,468,185. This is attributable to loss on derivativeoperating expenses described above as well as amortization of $1,615,956 associated with new convertible notesdebt discount of $31,250 as well as interest expense $1,472 and amortization of debt discount of $14,722 associated with those notes.$3,171.

For the ninesix months ended June 30, 2020 compared to the nine months ended June 30, 2019.March 31, 2021

For the ninesix months ended June 30, 2020,March 31, 2021, we incurred operating expenses of $2,473,809. The operating expenses consisted of legal, accounting, consulting and general and administrative fees. In addition, the operating expenses also include the stock-based compensation of $81,724 as compared to $47,084 in 2019. Increase was attributable to increased consulting fees related$2,340,000 for the fair value of 13,000,000 shares of common stock issued to the changeCompany’s member of controlBoard of Directors, Chief Financial Officer, and legal fees.Secretary as compensation for services rendered.

Net Loss

For the ninesix months ended June 30, 2020March 31, 2021, we incurred a net loss of $1,710,680 as compared to a net loss of $47,178 for the comparable period in 2019. The increase$2,543,424. This is attributable to loss on derivativeoperating expenses described above as well as amortization of $1,615,956 associated with new convertible notesdebt discount of $63,195 as well as interest expense $1,472 and amortization of debt discount of $14,722 associated with those notes offset by $3,194 of cancellation of debt.$6,531.

Liquidity and Capital Resources

As of June 30, 2020,March 31, 2021, we have $17,287$5,513 in current assets and $1,750,024$2,406,486 in current liabilities. We had $17,287$5,513 in cash and our working capital deficit was $1,732,737.$2,400,973.

Cash Flows: