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

SIPUP CORPORATION INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(unaudited)

($ inU.S. dollars except share and per share data)

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

SIPUP CORPORATION INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

($ in dollars)

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

SIPUP CORPORATION INC.

CONDENSED CONSOLIDATED STATEMENTSSTATEME NTS OF CHANGES IN SHAREHOLDERS’ DEFICT

(In dollars)

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

SIPUP CORPORATION INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)(U.S. dollars)

NOTE 1 – GENERAL

Sipup Corporation Inc. (the “Company” or “Sipup”) is a Nevada Corporation incorporated on October 31, 2012. For additional information see below and note 5 - subsequent events.

On April 25, 2021, the Company entered into a Stock Exchange Agreement (the “Agreement”) with VeganNation Services Ltd., a company formed under the laws of the State of Israel (“VeganNation”) and the shareholders of VeganNation pursuant to which VeganNation would become a wholly owned subsidiary of the Company. The transaction closed on September 30,. 2021. See B below.

VeganNation wholly-owns, VeganNation Finance Services, Ltd. (the “VNFS”), a company organized under the laws of the State of United Kingdom. VeganNation and VNFS together the “Group”.

The intellectual property is subjectdeveloped by the Company and the technology related to customary closing conditions.the GreenCoin has been licensed to VNFS under a cost-plus arrangement.

VeganNationThe group is a leadingglobal B2B2C (i.e., business-to-business-to-consumer) business that operates a proprietary platform (the “Platform”) which intends to establish both a directory and marketplace connecting conscious consumers, businesses and organizations. The Group’s Platform is designed to empower individuals, businesses and organizations that wish to transact business within the confines of a sustainable online marketplace (the “Marketplace”) committed to making plant-based products and offerings affordable, and globally accessible.

In addition to the foregoing, the Group envisions making its Platform a highly sought-after resource for the global plant-based company building an all-encompassing conscious consumer ecosystem, connectingcommunity by continually disseminating content and empoweringeducational materials, while facilitating meet-up opportunities, either virtually or in person.

Appreciating the criticality of integrity and transparency within the global sustainable plant-based and sustainable businesses and individuals. Managementcommunity, the Company seeks to develop a unique decentralized approval system by employing smart contracts where vegans will have the opportunity to validate the authenticity of a vegan-friendly product manufacturer or establishment.

Finally, all transactions within the Platform may be settled using either fiat or VeganNation’s Green Token, a cryptocurrency specifically designed for users of the Company believes thatPlatform issued by VNFS.

The Share Exchange Agreement closed on September 30, 2021. At the growthclosing, pursuant to the Agreement, Sipup will issue an aggregate of sustainable and plant-based consumer goods presents a unique opportunity41,062,240 shares of Common Stock to participate in the fastest growing lifestyle globally.

In connection with the proposed transaction, the VeganNation stockholders are expected to receive comomn stockshareholders in exchange for 100 Ordinary Shares, par value NIS 1.00 per share, of Sipup that will be equal to approximately 50%VeganNation, constituting 100% of the issued and outstanding common stockshares of the Company at the closingVeganNation, resulting in VeganNation becoming a wholly-owned subsidiary of the proposed merger, on a fully diluted basis.Sipup.

SIPUP CORPORATION INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(U.S. dollars)

NOTE 1 – GENERAL (continue)

In connection with the anticipated closing of the Share Exchange Agreement with VeganNation, in April 2021, the Company commenced a private placement to accredited and offshore investors of units of the Company securities (the “2021 Private Placement”) whereby each unit comprised of (i) one share of Common Stock of the Company at a per share purchase price of $0.35, (ii) a common stock purchase warrant for an additional share of Common Stock exercisable over a one (1) year period at a per share exercise price of $1.00 (the “Series A Warrant”) and (iii) a common stock purchase warrant for an additional share of Common Stock exercisable over a two year period at a per share exercise price of $1.50 (the “Series B Warrant”; together with the Series A Warrants, collectively, the “Warrants”). Through the date hereof,end of the reporting period, the Company received, in a third party escrow account. $1,279,469account, approximately $1,788,783 pending the closing of the Share Exchange Agreement. The investors have agreed that pending the closing of the Share Exchange Agreement with VeganNation, the Company is authorized to utilize up to 10% of the amount in escrow to cover operating costs and costs related to the closing of the Share Exchange Agreement. As of May 31,September 30, 2021 the Company utilized $47,958$329,791 from proceeds of the 2021 Private Placement. Following the closing of the Share Exchange Agreement on September 30, 2021, aggregate gross proceeds of approximately $1,788,783 were released to the Company from the 2021 Private Placement. In connection therewith, the Company issued to the 2021 Private Placement investors an aggregate of 5,095,640 shares of Common Stock and Series A and Series B Warrants, in each case for the purchase of up to an additional 5,095,640 shares of Common Stock.

Going concern

The accompanyingtransaction was accounted for as a reverse asset acquisition in accordance with generally accepted accounting principles in the United States of America (“GAAP”). Under this method of accounting, VeganNation was deemed to be the accounting acquirer for financial reporting purposes. This determination was primarily based on the facts that, immediately following the Merger: (i) VeganNation’s stockholders owned a substantial majority of the voting rights in the combined company, (ii) VeganNation designated a majority of the members of the initial board of directors of the combined company, and (iii) VeganNation’s senior management holds all key positions in the senior management of the combined company. As a result of the Recapitalization Transaction, the shareholders of VeganNation received the largest ownership interest in the Company, and VeganNation was determined to be the “accounting acquirer” in the Recapitalization Transaction. As a result, the historical financial statements of Sipup were replaced with the historical financial statements of VeganNation. The number of shares prior to the reverse capitalization have been prepared assuming thatretroactively adjusted based on the Company will continue as a going concern, which contemplatesequivalent number of shares received by the realization of assets and the liquidation of liabilitiesaccounting acquirer in the normal courseRecapitalization Transaction.

SIPUP CORPORATION INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(U.S. dollars)

NOTE 1 – GENERAL (continue)

Between 2018 and June 30,2021, the Group entered into several Early Contribution Agreements (each, an “ECA”) with purchasers of business.its Green Token. During the years ended December 31, 2020 and nine months ended September 30, 2021, the Group received contributions in the aggregated amounts of $53,206 and $54,350, respectively (collectively, the “Contributions”). In consideration for the Contributions received by VFNS from purchasers under the ECAs, VFNS issued such purchasers the following aggregate Green Tokens: (i) 17,972,120 Green Tokens, 360,400 Green Tokens and 502,457 Green Tokens, reflecting the numbers of virtual Ethereum blockchain smart contract protocol (the “Green Tokens” or “VeganCoin”) based the Contributions received divided by the product of the highest purchase price for the Green Token at the time of sale (the “Token Generation Event”) multiplied by the discount rate as signed in the ECA’s. As of May 31,September 30, 2021, the Company had $1,041,822 of receivables from sales of digital tokens under ECA agreements from which contributions have not been collected. In addition, as of September 30, 2021, the Company received contributions amounting to $945,849, to which the Company is committed to issue Green Tokens.

The Company committed to using the Contributions for the following purposes: preliminary funding of the Green Token generation event, research and development, coding, execution and launch of the Company’s Platform, other operational and day-to-day activities carried out by the Company.

As agreed in the ECA’s, each token is subject to a lock-up period and are released: (i) 20% to be released upon the Token Generation Event and (ii) the remaining on a quarterly basis. As of September 30, 2021, the Token Generation Event has not been reached, therefore all Green Tokens issued are subject to lock-up.

Based on the above, the Company has determined that the issuance of Green Tokens in the ECA represented an implied obligation to perform research and development services, and therefore, has accounted for the proceeds received in the various ECAs in accordance with ASC 730-20, Research and Development Arrangements. Pursuant to ASC 730-20, all proceeds received from the ECAs are recorded as deferred revenues. Due to the difficulty at the time of the ECA in estimating the timing and success of outcome of the development of the Platform, all development costs were expensed as incurred.

Deferred revenues are recognized as income over the period of development in an amount equal to the operational expenditures incurred by the Company with no profit margin (net 0), which treatment shall remain until the completion of the expected development. As of September 30, 2021 the development of the Platform is neither complete nor fully functioning.

SIPUP CORPORATION INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(U.S. dollars)

NOTE 1 – GENERAL (continue)

In late 2019, a novel strain of COVID-19, also known as Coronavirus, was reported in Wuhan, China. While initially the outbreak was largely concentrated in China, it has since spread to Israel and the United States, and infections were reported globally. Many countries around the world, including in Israel, had significant governmental measures implemented to control the spread of the virus, including temporary closure of businesses, severe restrictions on travel and the movement of people, and other material limitations on the conduct of business. These measures resulted in work stoppages and other disruptions. The extent to which the coronavirus impacts our operations is very minimal. The pandemic has adversely affected the global economy, and although multiple vaccines have been approved and released globally, the continued spread of the Coronavirus globally continues to create uncertainty and instability across many regions. The extent to which the Coronavirus has impacted the Company’s operations to date is relatively minimal, though the ongoing pandemic may have a material adverse impact on the Company’s operations and workforce, including its ability to raise additional capital, which in turn could have a material adverse impact on the Company’s business, financial condition and results of operation

Since inception, the Company has devoted substantially all its efforts to research and development. The Company is still in its development stage and the extent of the Company’s future operating losses and the timing of becoming income able, if ever, are uncertain. As of September 30, 2021 the Company had $1,461,304 in cash and cash equivalents, 1,304,427 net loss and accumulated deficit of $417,951 from operations. 2,856,087.

The Company has earned insufficient revenueswill need to coversecure additional capital in the future in order to meet its operating costs. The Company intendsanticipated liquidity needs required to fund future operationsmeet Company’s undertaking to develop and market its Platform , primarily through the sale of additional Common Stock or other equity securities and/or debt financing arrangements, whichand/or sales of its Green Tokens. Funds from these sources may not be insufficientavailable to fund its capital expenditures, working capitalthe Group on acceptable terms, if at all, and other cash requirements for the year ending November 30, 2021.

The ability of the Company to emerge from the development stage is dependent upon, among other things, obtainingcannot give assurance that it will be successful in securing such additional financing to continue operations, and development of its business plan. In response to these problems, management intends to raise additional funds through public or private placement offerings.capital.

These factors, among others,conditions raise substantial doubt about the Company’s ability to continue to operate as a “going concern.” The Company’s ability to continue operating as a going concern. concern is dependent on several factors, among them is the ability to raise sufficient additional funding.

The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

The Company face a number of risks, including uncertainties regarding finalization of the development process, demand and market acceptance of the Company’s products, the effects of technological changes, competition and the development of products by competitors. Additionally, other risk factors also exist, such as the ability to manage growth and the effect of planned expansion of operations on the Company’s future results.  In addition, the Company expects to continue incurring significant operating costs and losses in connection with the development of its products and marketing efforts. The Company has not yet generated cash from its operations to fund its activities and its undertaking to develop and market its Platform, and therefore the continuance of its activities as a going concern depends on the receipt of additional funding from its current stockholders and investors or from third parties.

SIPUP CORPORATION INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(U.S. dollars)

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION

Unaudited Interim Financial Statements

The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiary, prepared in accordance with accounting principles generally accepted in the GAAPUnited States of America (“GAAP”) and with the instructions to Form 10-Q. In the opinion of management, the financial statements presented herein have not been audited by an independent registered public accounting firm but include all material adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of the financial condition, results of operations and cash flows for the for three-monthsnine and three months ended May 31,September 30, 2021. However, these results are not necessarily indicative of results for any other interim period or for the year ended November 30,December 31, 2020. The preparation of financial statements in conformity with GAAP requires the Company to make certain estimates and assumptions for the reporting periods covered by the financial statements. These estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses. Actual amounts could differ from these estimates.

Certain information and footnote disclosures normally included in financial statements in accordance with generally accepted accounting principles have been omitted pursuant to the rules of the U.S. Securities and Exchange Commission (“SEC”). These financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s AnnualCurrent Report published on Form 8-K filed on October 6, 2021 with the SEC’s website, forSecurities and Exchange Commission relating to the year ended November 30, 2020.Agreement.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION (continue)The accompanying consolidated financial statements includes the accounts of the company and its wholly-owned subsidiaries. All intercompany transactions have been eliminated in consolidation. The Company is not involved with variable interest entities.

Use of Estimates

The preparation of unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United StatesGAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities certain revenues and expenses, and disclosure of contingent assets and liabilities as ofat the date of the financial statements.balance sheet and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ significantly from those estimates. As applicable to these financial statements, theThe most significant accounting estimates and assumptions relate to the going concern assumptions and convertible note.

Derivative Liabilities and Fair Value of Financial Instruments

Fair value accounting requires bifurcation of embedded derivative instruments such as conversion features in convertible debt or equity instruments and measurement of their fair value for accounting purposes. In assessing the convertible debt instruments, management determines if the convertible debt host instrument is conventional convertible debt and further if there is a beneficial conversion feature requiring measurement. If the instrument is not considered conventional convertible debt under Accounting Standards Codification (“ASC”) 470, the Company will continue its evaluation process of these instruments as derivative financial instruments under ASC 815, “Derivatives and Hedging”.

Once determined, derivative liabilities are adjusted to reflect fair value at each reporting period end, with any increase or decreaseinherent in the fair value being recorded in results of operations as an adjustment to fair value of derivatives.

Fair value of certainpreparation of the Company’s financial instrumentsstatements includes the valuation of Green Token issued for service providers.

SIPUP CORPORATION INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(U.S. dollars)

NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES (continue)

A substantial portion of the Company’s financing activities, including equity transactions and cash accounts receivable, account payable, accrued expenses, notes payables,investments, are incurred in U.S. dollars. The Company’s management believes that the U.S. dollar is the currency of the primary economic environment in which the Company operates. Thus, the functional and reporting currency of the Company is the U.S. dollar.

A subsidiary’s functional currency is the currency of the primary economic environment in which the subsidiary operates; normally, that is the currency of the environment in which a subsidiary primarily generates and expends cash.

In making the determination of the appropriate functional currency for a subsidiary, the Company considers cash flow indicators, local market indicators, financing indicators and the subsidiary’s relationship with both the parent company and other subsidiaries. For subsidiary that are primarily a direct and integral component or extension of the parent entity’s operations, the U.S. dollar is the functional currency.

The Company has determined the functional currency of its foreign subsidiary is the U.S. dollar. The foreign operation is considered a direct and integral part or extension of the Company’s operations. The day-to-day operations of the foreign subsidiary are dependent on the economic environment of the U.S. dollar. Accordingly, monetary accounts maintained in currencies other than the U.S. dollar are re-measured into U.S. dollars in accordance with Statement of the Accounting Standard Codification (“ACS”) No. 830 “Foreign Currency Matters” (“ASC No. 830”). All transaction gains and losses of the re- measured monetary balance sheet items are reflected in the statements of operations as financial income or expenses as appropriate.

The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents consist of cash on deposit with banks and money market instruments.

With respect to the Cash and Cash Equivalents, the concentration and minimization of credit risk is facilitated by maintaining cash and cash equivalents with institutions of sound financial quality. At times, cash balances may exceed limits federally insured by the Federal Deposit Insurance Corporation.

Receivables are recorded at the owed amount, net of an allowance for doubtful accounts. The Company performs ongoing credit evaluations of its receivables and adjusts credit limits based upon payment history and the customer’s current credit worthiness; and determines the allowance for doubtful accounts based on historical write-off experience, customer specific facts and economic conditions.

SIPUP CORPORATION INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(U.S. dollars)

NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES (continue)

The Company is subject to concentration of credit risk with respect to their cash and cash equivalents, which the Company attempts to minimize by maintaining cash and cash equivalents with institutions of sound financial quality. At times, cash balances may exceed limits federally insured by the Federal Deposit Insurance Corporation. The Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the funds are held. The Company has no financial instruments with off-balance sheet risk of loss.

The Company evaluates the recoverability of tangible and intangible assets periodically by considering events or circumstances that may warrant revised estimates of useful lives or that indicate the asset may be impaired.

The Company has determined that the issuance of Green Tokens in the ECA represented an implied obligation to perform (i) research and development services, (ii) sales and marketing activities, and (iii) general and administration activities, and therefore accounts for the proceeds received in the ECA in accordance with ASC 730-20, “Research and Development Arrangements.” At the time of, and in conjunction with the Green Token issuances, the Company’s undertook to develop and market its Platform. Due to the significant hurdles in developing the Platform, all of the Company’s development costs were expensed. Pursuant to ASC 730-20, all proceeds received from the ECA are recorded as deferred revenues.

Issuances of Green Tokens for services are initially recorded as deferred revenues and are recorded to revenues at zero margin based on the related services which are calculated on an accrual basis based on the service period.

SIPUP CORPORATION INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(U.S. dollars)

NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES (continue)

Company’s liability for employee rights upon retirement with respect to its Israeli employees is calculated, pursuant to Israeli severance pay law, based on the most recent salary of each employee multiplied by the number of years of employment, as of the balance sheet date. Employees are entitled to one month’s salary for each year of employment, or a portion thereof.

The Company accounts for its contingent liabilities in accordance with ASC No. 450, “Contingencies”. A provision is recorded when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. With respect to legal matters, provisions are reviewed and adjusted to reflect the impact of negotiations, estimated settlements, legal rulings, advice of legal counsel and other information and events pertaining to a particular matter. The Company is not a party to any litigation that could have a material adverse effect on the Company’s business, financial position, results of operations or cash flows.

Income taxes are recorded in accordance with ASC 740, Income Taxes (“ASC 740”), which provides for deferred taxes using an asset and liability approach. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are provided, if based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit would more likely than not be realized assuming examination by the taxing authority. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. The Company recognizes any interest and penalties accrued liabilities approximate cost because of their short maturities. related to unrecognized tax benefits as income tax expense.

SIPUP CORPORATION INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(U.S. dollars)

NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES (continue)

The Company measures and reportsdiscloses the fair value of financial assets and liabilities in accordance with ASC Topic 820, “Fair Value Measurements and Disclosure” defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles and expands disclosures about fair value investments.

Measurement.” Fair value as defined in ASC 820, is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of an asset should reflect its highest and best use by market participants, principal (or most advantageous) markets, and an in-use or an in-exchange valuation premise. The fair value of a liability should reflect the risk of non performance, which includes, among other things, the Company’s credit risk.

Valuation techniques are generally classified into three categories: the market approach; the income approach; and the cost approach. The selection and application of one or more of the techniques may require significant judgment and are primarily dependent upon the characteristics of the asset or liability, and the quality and availability of inputs. Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820 also provides

The accounting standard establishes a fair value hierarchy forthat prioritizes observable and unobservable inputs and resulting measurement as follows:used to measure fair value into three broad levels, which are described below:

Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.

Level 2: Quoted prices for similar assets or 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; andObservable inputs that are derived principally from orbased on inputs not quoted on active markets but corroborated by observable market data for substantially the full term of the assets or liabilities; anddata.

Level 3: Unobservable inputs for the asset or liability that are supported byused when little or no market activity,data are available.

The Company has no components of comprehensive loss other than net loss. Thus, comprehensive loss is the same as net loss for the period presented.

In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2020-06, “Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU 2020-06”).  The guidance in ASU 2020-06 simplifies the accounting for convertible debt and convertible preferred stock by removing the requirements to separately present certain conversion features in equity. In addition, the amendments in the ASU 2020-06 also simplify the guidance in ASC Subtopic 815-40, Derivatives and Hedging: Contracts in Entity’s Own Equity, by removing certain criteria that must be satisfied in order to classify a contract as equity, which is expected to decrease the number of freestanding instruments and embedded derivatives accounted for as assets or liabilities. Finally, the amendments revise the guidance on calculating earnings per share, requiring use of the if-converted method for all convertible instruments and rescinding an entity’s ability to rebut the presumption of share settlement for instruments that may be settled in cash or other assets.  The amendments in ASU 2020-06 are significanteffective for the Company for fiscal years beginning after December 15, 2021. Early adoption is permitted.  The guidance must be adopted as of the beginning of the fiscal year of adoption.  The Company is currently evaluating the impact of this new guidance, but does not expect it to the fair values.have a material impact on its financial statements.

6

SIPUP CORPORATION INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(U.S. dollars)

NOTE 3 – CONVERTIBLE LOANSSHAREHOLDERS’ EQUITY

Common stock:

On May 10, 2019 VeganNation entered into a Share Purchase Agreement with an investor pursuant to which VeganNation agreed to issue the investor 349,192 VeganNation ordinary shares, representing 1% of VeganNation’s equity as of such date on a fully diluted basis for total consideration of $60,000 of which the investors provided VeganNation with approximately $56,000. The shares were exchanged as part of the Agreement with the Company as described above.

During December 2020 the company, inOn November 25, 2019 VeganNation agreed to issue 115,233 ordinary shares for total consideration of the advance of $50,000 for purposes of paying outstanding Company obligation to third parties, the Company issued to Adi Zim and Rosario Capital Ltd. its unsecured convertible promissory note in the principal amount of $50,000 (the “Note”).$50,000. The Note is repayable upon the earlier of December 15, 2021 or the closingshares were exchanged as part of the Stock ExchangeAgreement as described above.

On January 15, 2020 VeganNation entered into a Share Purchase Agreement with VeganNation. The Note is convertible intoan investor pursuant to which VeganNation agreed to issue the investor 780,140 ordinary shares of the Company’s common stockCompany, representing 2% of |VeganNation’ss equity as of such date on a fully diluted basis for total consideration of $150,000 of which the investors provided VeganNation with approximately $143,925. The shares were exchanged as part of the Agreement as described above.

On June 30, 2020 VeganNation entered into a letter of understanding with an investor pursuant to which VeganNation agreed to issue to the investor 195,035 ordinary shares of representing 0.5% of VeganNation’s equity as of such date for total consideration of $36,000. The shares were exchanged as part of the Agreement as described above.

On April 20, 2021 VeganNation entered into a Share Purchase Agreement with an investor pursuant to which the Company agreed to issue the investor 390,070 ordinary shares, representing 1% of |VeganNation’s equity as of such date on a fully diluted basis as well as 500,000 Green Tokens for total consideration of $200,000. VeganNation valued the Green Tokens at a rate equalprice of $0.22 per Green Token and allocated $110,000 of the purchase price to $0.10 per share. During the six months ended May 31,value of the Green Tokens and the remaining $90,000 to equity. The shares were exchanged as part of the Agreement as described above.

As detailed in note 1 above, On September 30, 2021, the company received $50,000 representingCompany completed the full amountShare Exchange Agreement. Pursuant to the Agreement, Sipup will issue an aggregate of advance payment.41,062,240 shares of Common Stock to the former VeganNation shareholders in exchange for 100 Ordinary Shares, par value NIS 1.00 per share, of VeganNation, constituting 100% of the issued and outstanding shares of VeganNation, resulting in VeganNation becoming a wholly-owned subsidiary of Sipup.

NOTE 4 – INCOME TAXES

The VeganNation records income tax expense related to profits realized in Israel, and realized by its subsidiary in the United Kingdom.

The Conversion was estimated using the Black-Scholes option pricing model. The followingVeganNation tax accounts are the data and assumptions used as of issuance dates andbased on enacted legislation in effect as of the balance sheet date:year end in accordance with GAAP and do not include any potential effects of proposed legislation that has yet to be enacted. Such proposals may have a significant effect of taxes due in the future.

Income of the Israeli company is taxable from 2018 onwards, at corporate tax rate of 23%.

The Company and subsidiaries has not received final tax assessments since its inception.

SIPUP CORPORATION INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(U.S. dollars, except share and per share data)

NOTE 4 – LOAN FROM STOCKHOLDER

NOTE 5 – RELATED PARTY TRANSACTIONPARTIES

The following transactions were carried out with related parties:

For additional information please refer to Notes 1, 3 & 4.

NOTE 6 – SUBSEQUENT EVENTS

In accordance with ASC 855-10, Company management reviewed all material events through the date of this report and determined that there are no additional material subsequent events to report.

(i) on September 23, 2021, the Company and former equity owner of Enlightened Ltd. the Company’s subsidiary, entered into an agreement whereby the Company agreed to cover the repayment of a loan owed by Enlightened to Israel Discount Bank in the principal amount of 250,000 NIS (approximately $78,000 as of the date of this report). The loan bears interest at an annual rate of 4.9% with a maturity date of 10 years. In addition, the Company agreed to remit to the former owner $125,000 from the proceeds of any capital raise that the Company completes subsequent to the 2021 Private Placement.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

This Management’s Discussion and Analysis of Financial Condition and Results of Operations, or MD&A,

The following discussion should be read in conjunction with the Management’s Discussionaudited financial statements and Analysisnotes thereto of Financial Conditionour wholly-owned subsidiary VeganNation Services Ltd. for the years ended December 31, 2020 and Results of Operations2019 and the Financial Statements andnon-audited interim financial statements for the Notes theretosix months ended June 30, 2021 included in our AnnualCurrent Report on Form 10-K8-K filed on October 6, 2021, with the Securities and Exchange Commission (the “SEC”) (the “Current Report 8-K”). This section of the Quarterly Report includes a number of forward-looking statements within the meaning of the private securities litigation reform act of 1995, as amended that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements which speak only as of the date made, and except as required by law, we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from these forward-looking statements. Factors that could cause differences include, but are not limited to, customer acceptance risks for current and new products and services, reliance on external sources of financing, development risks for new products and brands, dependence on third party service providers, fluctuations in market demand and customer preferences, changes in government regulations, as well as general conditions of the year ended November 30, 2020. industry, and other “Risk Factors” discussed in our Current Report in the Current Report Form 8-K and similar discussions in subsequently filed Quarterly Reports on Form 10-Q, including this Form 10-Q, as applicable, and those contained from time to time in our other filings with the SEC.

Forward-Looking Statements

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaningregarding our business, financial condition, results of Section 27A of theoperations and prospects. The Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. TheseCommission (the “SEC”) encourages companies to disclose forward-looking statements are basedinformation so that investors can better understand a company’s future prospects and make informed investment decisions. This Quarterly Report on current expectations, estimates, forecastsForm 10-Q and projections about us, our future performance, the industries in which we operate our beliefs and our management’s assumptions. In addition, other written orand oral statements that constitutewe make from time to time contain such forward-looking statements may be madethat set out anticipated results based on management’s plans and assumptions regarding future events or performance. We have tried, wherever possible, to identify such statements by us or on our behalf. Wordsusing words such as “may,“anticipate,” “estimate,” “expect,” “anticipate,” “forecast,“project,” “intend,” “plan,” “believe,” “seek,” “estimate,” variations of such words“will” and similar expressions are intendedin connection with any discussion of future operating or financial performance. In particular, these include statements relating to identifyfuture actions, future performance or results of current and anticipated sales efforts, expenses, the outcome of contingencies, such as legal proceedings, and financial results and the effects of the COVID-19 pandemic or any similar pandemic.

We caution that these factors could cause our actual results of operations and financial condition to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. These statements areFurther, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not guaranteespossible for us to predict all of future performance and involve certain risks, uncertainties and assumptions that are difficultsuch factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to assess. Therefore,which any factor, or combination of factors, may cause actual outcomes and results mayto differ materially from what is expressed or forecastedthose contained in suchany forward-looking statements.

The following discussion should be read in conjunction with our unaudited financial statements and the related notes that appear elsewhere in this Quarterly Report on Form 10-Q as well as our other SEC filings.

Overview

Sipup Corporation was incorporated on October 31, 2012 under the laws of the State of Nevada for the purpose of producing, packing and selling flavored yogurts.

The Company plans to enter into emerging technology businesses.

Our loss since inception is $417,951 related primarily to professional fees, officers’ compensation, and the incorporation of the Company, bank charges and office supplies.

On April 25, 2021, the Company entered into a Stock Exchange Agreement with VeganNation Services Ltd., a company formed under the laws of the State of Israel (“VeganNation”) and the shareholders of VeganNation pursuant to which VeganNation would become a wholly owned subsidiary of the Company. The Stock Exchange Agreement closed on September 30, 2021. Pursuant to the Agreement, the Company and the shareholders of VeganNation would receivewill issue an aggregate of 23,562,24041,062,240 shares of common stock of the Company. The transaction is subjectCommon Stock to customary closing conditions.

VeganNation is, a leading global plant-based company building an all-encompassing conscious consumer ecosystem, connecting and empowering plant-based and sustainable businesses and individuals. Management of the Company believes that the growth of sustainable and plant-based consumer goods presents a unique opportunity to participate in the fastest growing lifestyle globally.

In connection with the proposed transaction, the VeganNation stockholders are expected to receive common stockshareholders in exchange for 100 Ordinary Shares, par value NIS 1.00 per share, of Sipup that will be equal to approximately 50%VeganNation, constituting 100% of the issued and outstanding common stockshares of VeganNation, resulting in VeganNation becoming a wholly-owned subsidiary of Sipup. The acquisition (the “Acquisition”) has been structured and accounted for as a reverse-merger and recapitalization.

VeganNation is a global B2B2C (i.e., business-to-business-to-consumer) business that is developing a platform (the “Platform”) which comprises both a directory and marketplace connecting conscious consumers, businesses and organizations. Our proprietary platform empowers individuals, businesses and organizations that all wish to carry out business within the confines of a sustainable online marketplace (the “Marketplace”), thereby establishing strong and long-standing connections between everything plant-based. This begins with our proprietary e-commerce platform, a B2C and B2B marketplace, designed to make the plant-based market more sustainable, affordable, and globally accessible.

In addition to the foregoing, the Company envisions making its Platform a highly sought-after resource for the global plant-based community by continually disseminating content and educational materials, while facilitating meet-up opportunities, either virtually or in person.

Appreciating the criticality of integrity and transparency within the global sustainable plant-based community, the Company seeks to develop a unique decentralized approval system by employing smart contracts where vegans will have the opportunity to validate the authenticity of a vegan-friendly product manufacturer or establishment.

Principally, the VeganNation ecosystem is being designed to offer various kinds of participants, including consumers, merchants and suppliers, an environment facilitating the sale of products and services which comply with plant-based principles such as plant-based groceries, fresh produce, fashion or manufactured goods. In addition, the Platform will also facilitate the distribution of content relevant to the plant-based community and provide opportunities for participants to collaborate and meet up, either virtually or in person.

Technologically, VeganNation has continued to advance where it is iteratively building the next generation of a global, sustainable and social shopping experience via the Marketplace. The Marketplace seeks to deliver a cutting-edge user shopping experience that features products ranging from fresh produce and plant-based burgers, to fashion and home goods.

Private Placement

In connection with the anticipated closing of the Acquisition, in April 2021, the Company commenced a private placement to accredited and offshore investors of the private placement of units of the Company securities (the “2021 Private Placement”) whereby each unit comprised of (i) one share of Common Stock of the Company at a per share purchase price of $0.35, (ii) a common stock purchase warrant for an additional share of Common Stock exercisable over a one (1) year period at a per share exercise price of $1.00 (the “Series A Warrant”) and (iii) a common stock purchase warrant for an additional share of Common Stock exercisable over a two year period at a per share exercise price of $1.50 (the “Series B Warrant”; together with the Series A Warrants, collectively, the “Warrants”). 

Between April 2021 through the closing of the proposed merger, on a fully diluted basis.

In addition, on December 28, 2020,Acquisition, the Company disclosed onraised aggregate gross proceeds of $1,129,975 and 2,112,795 NIS (approximately $677,000 as of the date of this report) from the 2021 Private Placement. In connection therewith, the Company issued to the 2021 Private Placement investors an aggregate of 5,095,640 shares of Common Stock and issued Series A and Series B Warrants, in each case for the purchase of up to an additional 5,095,640 shares of Common Stock.

Accounting Treatment of the Acquisition

The Acquisition has been structured and accounted for as a current report on Form 8-Kreverse-merger and recapitalization. VeganNation is the surviving entity for financial reporting purposes and Sipup is the acquired company. Consequently, the assets and liabilities and the operations that VeganNation previously entered into a non-binding Letter of Intent (the “LOI”) to acquire a vegan industry company locatedwill be reflected in the United States (the “Target”) and that VeganNation had assigned the LOIhistorical financial statements prior to the Company. As disclosed byAcquisition will be those of VeganNation and will be recorded at the Company in its Current Report on Form 8-K filed on April 26, 2021,historical cost basis of VeganNation, and the Company and Target have terminated all discussions relating to the acquisitionconsolidated financial statements after completion of the Target.

Acquisition will include the assets and liabilities and results of operations of VeganNation through the closing date of the Acquisition as well as the assets, liabilities and results of operations of the Combined Company from and after the closing date of the Acquisition.

Results of Operations - Three Months Ended May 31,September 30, 2021, Compared to Three Months Ended May 31,September 30, 2020

General and administrative expensesRevenues- - For the three months ended May 31, 2021, weWe had general and administrative expenses of $33,579 comprised of Professional fees and filings fees. In addition, we recorded interest expenses on loan and bank charges and fees of $7,127 resulting in a net operating loss of $40,706 as compared to $26,400 as general and administrative expenses and interest income of $572no revenues for the three months ended May 31,September 30, 2021 as compared to revenues of $56,604 for the three months ended September 30, 2020.

ResultsResearch and Development- During the three months ended September 30, 2021, we research and development expenses of Operations - Six Months Ended May 31,$205,659, compared to $37 research and development expenses for the three months ended September 30, 2020. The increase in our research and development expenses for the three months ended September 30, 2021, Comparedcompared to Six Months Ended May 31,the three months ended September 30, 2020, is mainly as a result of increase in professional services and salary and related expenses following our 2021 Private Placement and due to 2020 expenses which have been postponed due to COVID-19.

Selling and Marketing- During the three months ended September 30, 2021, we selling and marketing expenses of $255,853, compared to $0 research and development expenses for the three months ended September 30, 2020. The increase in our selling and marketing expenses for the three months ended September 30, 2021, compared to the three months ended September 30, 2020, is mainly as a result of increase in professional services and salary and related expenses following our 2021 Private Placement and due to 2020 expenses which have been postponed due to COVID-19.

General and administrative expenses - For the sixthree months ended May 31,September 30, 2021, we had general and administrative expenses of $118,079$530,877 comprised of Professionalpayroll and related expenses, professional fees, and filings fees. In addition, we recorded interest expenses on loan and bank charges and fees of $12,962 resulting in a net operating loss of $131,041 as compared to $50,800$102,265 as general and administrative expenses and interest expenses on loan of $736 for the three months ended May 31,September 30, 2020. The increase in our general and administrative expenses for the three months ended September 30, 2021, compared to the three months ended September 30, 2020, is mainly as a result of increase in professional services and salary and related expenses and other costs associated with our Private Placement and due to 2020 expenses which have been postponed due to COVID-19.

Results of Operations - Nine Months Ended September 30, 2021, Compared to Nine Months Ended September 30, 2020

Revenues- During the nine months ended September 30, 2021 we had revenues of $65,160 as compared to revenues of $161,582 for the nine months ended September 30, 2020.

Research and Development- During the nine months ended September 30, 2021, we had research and development expenses of $219,764, compared to $29,459 research and development expenses for the nine months ended September 30, 2020. The increase in our research and development expenses for the nine months ended September 30, 2021, compared to the nine months ended September 30, 2020, is mainly as a result of increase in professional services and salary and related expenses following our 2021 Private Placement and due to 2020 expenses which have been postponed due to COVID-19.

Selling and Marketing- During the nine months ended September 30, 2021, we had selling and marketing expenses of $287,317, compared to $22,411 research and development expenses for the nine months ended September 30, 2020. The increase in our selling and marketing expenses for the nine months ended September 30, 2021, compared to the nine months ended September 30, 2020, is mainly as a result of increase in professional services and salary and related expenses following our 2021 Private Placement and due to 2020 expenses which have been postponed due to COVID-19.

General and administrative expenses - For the nine months ended September 30, 2021, we had general and administrative expenses of $826,861 comprised of payroll and related expenses, professional fees, filings fees as compared to $502,091 as general and administrative expenses for the nine months ended September 30, 2020. The increase in our general and administrative expenses for the nine months ended September 30, 2021, compared to the nine months ended September 30, 2020, is mainly as a result of increase in professional services and salary and related expenses towards our Share Exchange Agreement and due to 2020 expenses which have been postponed due to COVID-19.

Liquidity and Capital Resources

From inception and through the date of the Acquisition, we have funded our operations from a combination of loans and sales of equity instruments. Between April and September, 2021, we raised aggregate gross proceeds in the approximate amount of $1.8 million from the 2021 Private Placement.

As of May 31,September 30, 2021, the company had $0$1,461,000 as cash at banks restricted cash in escrow of $1,231,511 and other asset of $47,958.$1,062,000. Our current liabilities were $1,462,318,$3,611,000, consisting primarily of Accounts payable and other current liabilities of $1,951,000, obligations to issue Green Tokens Loans of $946,000 and a short term loans of $494,000. As of December 31, 2020, the company had $0 cash and our liabilities were $2,464,000, consisting primarily of Accounts payable and accrued expenses of $98,618,$1,067,000, obligations to issue Green Tokens Loans of $177,539, convertible note of $34,693 and a warranty to our shareholders of $1,151,522. As of November 30, 2020, the company had $Nil cash and our liabilities were $261,082, consisting primarily of Accounts payable and accrued expenses of $88,200$891,000 and Loans payable of $172,882.$506,000. As we continue to conduct these activities, we expect the cash needed to fund operations to increase significantly over the next several years. The available capital reserves of the Company are not sufficient for the Company to remain operational.

At the closing of the 2021 Private Placement, we entered into a securities purchase agreement with certain accredited investors providing for the issuance and sale to such investors of an aggregate of 5,095,640 shares of our Common Stock and warrants for an additional 5,095,640 shares of our Common Stock, exercisable through April 2022, at a per share exercise price of $1.00 and warrants for an additional 5,095,640 shares of our Common Stock, exercisable through April 2023, at a per share exercise price of $1.50. After deducting for offering related expenses, the aggregate gross proceeds from the initial closing of the 2021 Private Placement were approximately $1.8 million.

Even after giving effect to the proceeds of the 2021 Private Placement, we will need to obtain additional funding in order to pursue our business plans. If we are unable to raise capital when needed or on attractive terms, we would be forced to delay, reduce or eliminate our research and development programs or future commercialization efforts.

We expect that our existing cash and cash equivalents will enable us to fund our operations and capital expenditure requirements for at least the next twelve months. Our requirements for additional capital during this period will depend on many factors, including the following:

We cannot be sure that future funding will be available to us on acceptable terms, or at all. Due to often volatile nature of the financial markets, equity and debt financing may be difficult to obtain.

We may seek to raise any necessary additional capital through a combination of private or public equity offerings, debt financings, collaborations, strategic alliances, licensing arrangements and other marketing and distribution arrangements. To the extent that we raise additional capital through marketing and distribution arrangements or other collaborations, strategic alliances or licensing arrangements with third parties, we may have to relinquish valuable rights, future revenue streams, or product candidates or to grant licenses on terms that may not be favorable to us. If we raise additional capital through private or public equity offerings, the ownership interest of our existing stockholders will be diluted, and the terms of these securities may include liquidation or other preferences that adversely affect our stockholders’ rights. If we raise additional capital through debt financing, we may be subject to covenants limiting or restricting our ability to take specific actions, such as incurring additional debt, making capital expenditures or declaring dividends.

Our auditors have issued a “going concern” opinion, meaning that there is substantial doubt if we can continue as an on-going business for the next twelve months unless we obtain additional capital. No substantial revenues are anticipated until after receiving sufficient financing and implementing our plan of operations. We must raise cash to implement our strategy and stay in business. The Company anticipates over the next 12 months the cost of being a reporting public company will be approximately $25,000.

Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be inadequate to fund our operations over the next twelve months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. We intend to finance expenses we incur with further issuances of securities, and debt issuances, no assurance can be provided that we will be able to raise funds on commercially acceptable terms or at all.

We anticipate that our current cash and cash equivalents will be insufficient to satisfy our liquidity requirements for at least the next 12 months. We will require additional funds prior to such time and the Company will seek to obtain those funds by selling additional capital through private equity placements, debt or other sources of financing. If we are unable to obtain sufficient additional financing, we may be required to reduce the scope of our planned operations, which could harm our business, financial condition and operating results. Additional funding to meet our requirements may not be available on favorable terms, if at all.

If we are unable to raise the cash needed to support our operations, we will either suspend product development and marketing activities until we do raise the cash, or cease operations entirely. Because we have been unable to raise additional cash, Management may consider other business opportunities in order to maintain and increase shareholder value.

We are highly dependent upon the success of the private offerings of equity or debt securities, as described herein. Therefore, the failure thereof would result in the need to seek capital from other resources such as taking loans, which would likely not even be possible for the Company. At such time these funds are required, management would evaluate the terms of such debt financing. If the Company cannot raise additional proceeds via a private placement of its equity or debt securities, or secure a loan, the Company would be required to cease business operations. As a result, investors would lose all of their investment

Off-Balance Sheet Arrangements

None.

Contingencies

None.

None.

Contingencies

None.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

We are a smaller reporting company and therefore are not required to provide the information for this item of Form 10-Q.

Item 4. Controls and Procedures.

(a) Evaluation of Disclosure Controls and Procedures.

Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Securities Exchange Act of 1934 as a process designed by, or under the supervision of, the Company’s principal executive and principal financial officers and effected by the Company’s board of directors, management and other personnel to provide reasonable assurance regarding the reliability of our financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America and includes those policies and procedures that:

Under the supervision and with the participation of our management, including our principal executive officer and our financial officer, an evaluation was performed on the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report. Based on that evaluation, our and principal executive officer and our principal financial officer concluded that our disclosure controls and procedures were not effective as of the end of the period covered by this report for the purpose of gathering, analyzing and disclosing of information that the Company is required to disclose in the reports it files under the Securities Exchange Act of 1934, within the time periods specified in the SEC’s rules and forms for the reasons set forth in our annual report on Form 10-K for the year ended November 30,December 31, 2020.

(b) Changes in Internal Controls.

There were no changes in our internal control over financial reporting during quarter ended May 31,September 30, 2021 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II. OTHER INFORMATION

Item 1. Legal Proceedings.

None.

Item 1A. Risk Factors.

During the quarter ended June 30, 2020, there were no material changes to the risk factors previously reported in our Current Report on Form 8-K filed on October 6, 2021.

ITEM 2. UNREGISTERED SALES OF SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

None.

ITEM 5. OTHER INFORMATION:

i. On November 16, 2021, the Board of Directors of the Company voted to change the Company’s fiscal year end to December 31^st in order to align it with that of VeganNation.

ii. On November 22, 2021, Yochai Ozeri resigned as the Chief Financial Officer of the Company. Mr. Ozeri will continue to serve as a director. Mr. Ozeri’s departure is not due to a dispute or disagreement with the Company.

On November 22, 2021, Shlomo Zakai as Chief Financial Officer.

Mr. Zakai has served as chief financial officer of UAS Drone Corp. (OTC: USDR) since May 2020, as chief financial officer of Savefoods, Inc. from August 2017 to May 2021, as chief financial officer of Sonovia Ltd. from October 2014 to August 2020, and as chief financial officer of Todos Medical Ltd. from February 2017 to December 2017. Mr. Zakai has established Shlomo Zakai CPA in in 2004, an accounting firm providing a range of services to publicly traded and private companies. He also previously worked as an accountant for nine years at Kost, Forer, Gabbay & Kasierer, an independent registered public accounting firm and a member firm of Ernst & Young Global, where he last served as a senior manager and worked with technology companies publicly traded on Nasdaq and in Israel. Mr. Zakai holds a BA in Accounting from the College of Management in Rishon Le’Zion, Israel, and is a certified public accountant in Israel.

Item 6. Exhibits.

See the Exhibit Index immediately following the signature page hereto for a description of the documents that are filed as exhibits to this Quarterly Report on Form 10-Q or incorporated by reference herein.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Quarterly Report on Form 10-Qreport to be signed on its behalf by the undersigned thereunto duly authorized.

EXHIBIT INDEX

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