The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements.consolidated financial statements.

AMERICAN METALS RECOVERY AND RECYCLING, INC.

CONDENSEDCONSOLIDATED STATEMENTS OF OPERATIONSINCOME

FOR THE THREE MONTHS ENDED MARCH 31, 2022, AND 2021

(Unaudited)

The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements.consolidated financial statements.

AMERICAN METALS RECOVERY AND RECYCLING, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICITSTOCKHOLDERS’ EQUITY (DEFICIT)

FOR THREE MONTHS ENDED MARCH 31, 2022, AND 2021

(Unaudited)

For the Three Months Ended September 30, 2021March 31, 2022

For the Nine Months Ended September 30, 2021

For the Three Months Ended September 30, 2020March 31, 2021

For the Nine Months Ended September 30, 2020

The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements.consolidated financial statements.

AMERICAN METALS RECOVERY AND RECYCLING, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE THREE MONTHS ENDED MARCH 31, 2022, AND 2021

(Unaudited)

The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements.consolidated financial statements.

AMERICAN METALS RECOVERY AND RECYCLING, INC.

NOTES TO THE UNAUDITED CONDENSEDCONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2022 AND 2021

NOTE 1 – NATURE OF BUSINESSACTIVITIES AND SUMMARY OFSIGNIFICANT ACCOUNTING POLICIES

Nature of BusinessActivities, History and Organization

American Metals Recovery and Recycling Inc. ("Company”), a Nevada corporation, was formed on June 29, 2009 as Premier Oil Field Services, Inc. and changed its name to American Metals Recovery and Recycling Inc. on April 25, 2014. The Company serviced the oil industry and then proposed to enter the recycling business. Since that time, the company has been dormant when it attempted to enter the recycling industry. The term "we" and "our" refers to the Company and its subsidiaries unless otherwise stated.

American Metals Recovery and Recycling Inc. (“we” or the “Company”) was incorporated in the State of Nevada on June 29, 2009. We were formed in order to acquire 100% of the outstanding stock of Coil Motor Tubing Corporation, a Texas corporation. Coil Tubing Motor Corporation (“CTM”) was a wholly owned subsidiary of Premier Oil Field Services, Inc. and was formed in June 2006 as a Texas Corporation. CTM servesserved the oil and gas industry with down-hole drilling motors. These motors were used in the gas well drilling process to drill out frac plugs and other debris in the wellbore.

On April 7, 2014, the The Company entered into a Share Exchange Agreement (the “Exchange Agreement”) with Perfect Metals Inc., a Nevada corporation (“Perfect Metals”) and the shareholders (the “PM Shareholders”) holding all of the issued and outstanding common stock (“PM Common Stock”) of Perfect Metals. Under the Exchange Agreement, the PM Shareholders sold, transferred, conveyed and assigned all their share of PM Common Stock to the Company and the Company issued to the PM Shareholders an aggregate of 9,000,000 newly issued common stock, par value $.001 per share, of the Company (“Premier Common Stock”). As a result of the Exchange Agreement, Perfect Metals became the Company’s wholly owned subsidiary (the “Acquisition”) and the Companylater changed its name to American Metals Recovery and Recycling Inc.

On October 1, 2014,August 2, 2021, the Circuit CourtCompany filed a Registration Statement on Form 10 to register the Company’s 11,081,336 shares of Adair Countypreviously issued and outstanding common stock and 600,000 shares of previously issued and outstanding preferred stock. The Company received no proceeds as result of the StateAugust 2, 2021 registration of Missouri (the “Court”the common and preferred shares.

On February 1, 2022, American Metals Recovery and Recycling, Inc. (“AMRR”) issued(OTC Pink: AMRR), completed an order (the “Order”acquisition of AMR Resources, LLC (“AMR” or “the Company”) in Case Number 15CK-CC00028, Statewhereby AMR became a wholly owned subsidiary of MissouriAMRR. The Company owns all of the assets exclusively used in the Circuit CourtOnepath Integrated Services (“OIS”) business, which were divested by Onepath Systems, LLC. OIS has operated as a standalone division of Clark County, appointingOnepath Systems and has provided private and public entities large-scale telecommunications, system / network planning and engineering, low voltage cabling, security / access controls, and installation services since 2006. OIS has a receiver to keep, preservenationwide footprint that provides clients with a one stop solution. Key business units include telecom and protect the businessesinternet providers, fire and life safety, large building security and access control, audio/visual, multi-dwelling units, military, and large-scale public and commercial developments.

The acquisition of all outstanding units of AMR Resources was consummated in exchange for consideration of $40.5 million (the “Businesses”“AMR Resources Acquisition”) of Perfect Metals USA, LLC and Whispers, LC, both wholly-owned indirect subsidiaries. In contemplation of the Company). The Order was issued byAMR Resources Acquisition, OnePath Systems, LLC (“OnePath”) formed AMR Resources and contributed those assets necessary for the Court asoperation of its integrated services business. As a result of the AMR Resources Acquisition, the Company acquired 100% of the outstanding units of AMR Resources and the former integrated services business of OnePath. AMR Resources is a dispute arising out of a September 23, 2014 petition for breach of employment agreement, tortious interference with contract, fraud, breach of fiduciary duty, civil conspiracy, declaratory judgment and preliminary and permanent injunctive relief (the “Petition”) filed by David Janes, an affiliatewholly owned subsidiary of the Company as of February 1, 2022. The consideration paid by AMRR was subject to post-closing adjustment as contemplated by the Agreement. The Agreement contained customary provisions reflecting a transaction of such scope and structure, including representations, warranties, indemnification obligations. AMRR funded the purchase price from the AMRR’s readily available funds generated from loan proceeds. AMR Resources designs, deploys and maintains integrated low-voltage systems for the commercial and residential market. This includes Life Safety, Physical Security, Audio-Visual, Networking and Structured Cabling solutions.  With 300 employees and over 5,000 subcontractors, AMR Resources has a former directornational footprint, with a heavy concentration in the Southeastern United States and officeris headquartered in the Atlanta, Georgia metropolitan area.

On April 5, 2022, AMRR announced a rebrand to Multiband Global, positioning itself as a leading IT and network lifecycle company offering solutions for the complete IT and network lifecycle.

Significant Accounting Policies

The Company’s management selects accounting principles generally accepted in the United States of America and adopts methods for their application. The application of accounting principles requires the estimating, matching and timing of revenues and expenses. The accounting policies used conform to generally accepted accounting principles which have been consistently applied in the preparation of these financial statements.

The financial statements and notes are representations of the Company’s subsidiaries,management which Petition named as defendants (i) Gordon Muir,is responsible for their integrity and objectivity. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items that: 1) recorded transactions are valid; 2) valid transactions are recorded; and 3) transactions are recorded in the Company’s President, Chief Executive Officer, Chief Financial Officerproper period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and sole membercash flows of the Company’s BoardCompany for the respective periods presented.

Basis of Directors; (ii) Traci Muir, Gordon Muir’s spouse; (iii)Presentation

The Company prepares its unaudited consolidated financial statements on the Company; (iv) Perfect Metals USA, the Company’s subsidiary; (v) Perfect Metals USA, LLC, the Company’s subsidiary; (vi) Whispers, LLC, the Company’s subsidiary (collectively, the “Defendants”). The Defendants disputed the claims set forthaccrual basis of accounting in conformity with accounting principles generally accepted in the Petition and on October 15, 2014, filed with the Court an answer denying the claims set forth in the Petition and asserting that all actions taken by the Defendants were done with due authority and justification. Furthermore, the Defendants filed a counterclaim against Mr. Janes and various other parties affiliated with or acting under instruction of Mr. Janes for damages and declaratory judgment arising out of the Counterclaim.United States.

On August 20, 2015, the Company executed a settlement agreement in resolution of the litigation. The settlement was confirmed by the Court on September 25, 2015. Pursuant to the Memorandum of Settlement and Joint Motion for Dismissal of All Claims and Counterclaims and Termination of Receivership, the Court thereby adjudged and vacated the Order of October 1, 2014 appointing a receiver for Perfect Metals USA L.L.C. and Whispers L.L.C. and terminates the receivership as to those entities. Plaintiff’s Petition, and all claims and causes of action set forth therein, were thereby dismissed with prejudice. Counterclaimants’ First Amended Counterclaim, and all claims and causes of action set forth therein, were thereby dismissed with prejudice.

AsPrinciples of September 25, 2015 and thereafter, the Company can be defined as a "shell" company, whose sole purpose at this time is to locate and consummate a merger or acquisition with a private entity. The Company currently intends to seek to acquire assets or shares of an entity actively engaged in business which generates revenues in exchange for its securities. The Company has no particular acquisitions in mind and has not currently entered into any negotiations regarding such an acquisition. The Company's officer and director has not engaged in any preliminary contact or discussions with any representative of any other company regarding the possibility of an acquisition or merger between the Company and such other company as of the date hereof. The Company’s common stock is subject to quotation on the OTC Markets Group, Inc. Pink Open Market Platform (“Pink Sheets”) under the symbol AMRR. There is currently only a limited trading market in the Company’s shares, nor do we believe that any active trading market has existed for approximately the last 5 years. There can be no assurance that there will be an active trading market for our securities following the effective date of this Registration Statement under the Securities Exchange Act of 1934, as amended (“Exchange Act”). Exchange Act. In the event that an active trading market commences, there can be no assurance as to the market price of our shares of common stock, whether the trading market will provide liquidity to investors or whether any trading market will be sustained.

Basis of PreparationConsolidation

The accompanyingunaudited consolidated financial statements include the financial informationaccounts of American Metals Recovery and Recycling, Inc. (the "Company"), as well as its wholly owned subsidiary, AMR Resources, LLC. All significant inter-company transactions have been preparedeliminated. All amounts are presented in accordance with the instructions to financial reporting as prescribed by the Securities and Exchange Commission (the "SEC"). The preparation of these financial statements and accompanying notes in conformity with U.S. generally accepted accounting principles ("GAAP"). In the opinion of management, the financial statements contained in this report include all known accruals and adjustments necessary for a fair presentation of the financial position, results of operations, and cash flows for the periods reported herein.Dollars unless otherwise stated.

Reclassifications

Certain prior period amounts have been reclassified to conform to current period presentation.

Adoption of New Accounting Standard

In February 2016, the FASB issued ASU 2016-02 "Leases", which is codified in ASC 842 "Leases" and supersedes current lease guidance in ASC 840. These provisions require lessees to put a right-of-use asset and lease liability on their balance sheet for operating and financing leases that have a term of more than one year. Expense will be recognized in the income statement similar to current accounting guidance. For lessors, the ASU modifies the classification criteria and the accounting for sales-type and direct financing leases. Entities will need to disclose qualitative and quantitative information about their leases, including characteristics and amounts recognized in the financial statements. These provisions are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. We adopted the provisions on January 1, 2019, including interim periods subsequent to the date of adoption. Entities are required to use a modified retrospective approach upon adoption to recognize and measure leases at the beginning of the earliest comparative period presented in the financial statements. Since all the leases were finance leases, there was no effect on the financial statements when ASC 842 was adopted.

In September 2018, the FASB issued ASU No. 2018-07, Compensation—Stock Compensation, to simplify the accounting for share-based payments to nonemployees by aligning it with the accounting for share-based payments for employees, with certain exceptions. Under the new guidance, the cost for nonemployee awards may be lower and less volatile than under current US GAAP because the measurement generally will occur earlier and will be fixed at the grant date. This update is effective for annual financial reporting periods, and interim periods within those annual periods, beginning after December 15, 2018, although early adoption is permitted. The Company adopted the standard effective January 1, 2019, and found the adoption did not have a material effect on our financial statements.

The Company does not expect the adoption of any recently issued accounting pronouncements to have a significant impact on their financial position, results of operations or cash flows.

Accounting Standards not yet Adopted

In September 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which requires measurement and recognition of expected credit losses for financial assets held. ASU 2016-13 is effective for us in our first quarter of fiscal 2023, and earlier adoption is permitted. We are currently evaluating the impact of our pending adoption of ASU 2016-13 on our financial statements.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires the use of estimates and assumptions by management in determining the reported amounts of assets and liabilities, disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates are primarily used in our revenue recognition, long-lived asset impairments and adjustments, deferred tax, stock-based compensation, and reserves for legal matters.

Cash and Cash Equivalents

The Company considers all highly liquid investments purchaseddebt instruments with an original maturity of three months or less to be cash andequivalents. At times, cash equivalents.balances may be in excess of the Federal Deposit Insurance Corporation (“FDIC”) insurance limits. As of March 31, 2022, the Company had $340,654 of deposits in U.S. Banks in excess of the FDIC limit. Management does not believe that the Company is at risk of loss on cash.

Related PartiesAccounts Receivable and Allowances for Doubtful Accounts

The Company follows ASC 850, Related Party Disclosures,allowance for the identificationaccounts receivable is recorded when receivables are considered to be doubtful of related parties and disclosurecollection. As of related party transactions. Related party balances as of September 30, 2021March 31, 2022, and December 31, 2020 were2021, respectively, the Company had $97,108528,851 and $93,7330, respectively (see Note 4. Related Party Transactions). allowance for doubtful accounts.

Stock-Based CompensationUnbilled Accounts Receivable

Unbilled accounts receivable represents amounts deemed receivable but not yet billed – See Note 4.

Costs in Excess of Billings

Cost in excess of billings represents costs incurred on contracts which have not yet been invoiced. The balance at March 31, 2022 and December 31, 2021 was $7,487,848 and $0 respectively.

Inventory

Inventories are carried at the lower of cost or net realizable value and consists of the supplies on-hand for use in future customer arrangements. The inventories are $227,236 and $0 as of March 31, 2022, and December 31, 2021, respectively.

Prepaids and Other Current Assets

These amounts represent prepaid legal, rent and insurance. The balance at March 31, 2022 and December 31, 2021 was $1,204,095 and $0 respectively.

Billings in Excess of Costs

Billings in excess of costs represents advance amounts billed customers for work which the company has not yet completed. The balance at March 31, 2022 and December 31, 2021 was $1,120,753 and $0 respectively.

Income Taxes

The Company accounts for stock-based compensation to employeesincome taxes under ASC 740 “Income Taxes” using the liability method, recognizing certain temporary differences between the financial reporting basis of liabilities and assets and the related income tax basis for such liabilities and assets. This method generates either a net deferred income tax liability or asset for the Company, as measured by the statutory tax rates in accordance with ASC 718 requiring employee equity awards to be accountedeffect. The Company derives the deferred income tax charge or benefit by recording the change in either the net deferred income tax liability or asset balance for under the fair value method. Accordingly, share-based compensation is measured at grant date,year. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the fair valueweight of available evidence, it is more likely than not that some portion or all of the award and is recognized as expense over the requisite employee service period. The Company accounts for stock-based compensation to other than employees in accordance with ASC 505-50. Equity instruments issued to other than employees are valued at the earlier of a commitment date or upon completion of the services, based on the fair value of the equity instruments and is recognized as expense over the service period. The Company estimates the fair value of share-based payments using the Black-Scholes option-pricing model for common stock options and the closing price of the company's common stock for common share issuances.deferred income tax asset will not be realized.

Use of Estimates

In order to prepare unaudited consolidated financial statements in conformity with accounting principles generally accepted in the United States, management must make estimates, judgments and assumptions that affect the amounts reported in the unaudited consolidated financial statements and determines whether contingent assets and liabilities, if any, are disclosed in the unaudited consolidated financial statements. The ultimate resolution of issues requiring these estimates and assumptions could differ significantly from resolution currently anticipated by management and on which the financial statements are based.

Revenue Recognition

The Company recognizes revenue according to ASC 606 “Revenue from contracts with customers.” The Company generates revenue by providing private and public entities large-scale telecommunications, system / network planning and engineering, low voltage cabling, security / access controls, and installation. The core principles of revenue recognition under ASC 606 include the following five criteria:

Sales are recognized when promised services are started in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services. Sales for service contracts generally are recognized as the services are being provided.

Accounts ReceivableFor the three months ended March 31, 2022 and Allowance for Doubtful Accounts2021, there are no deferred contract costs or deferred commissions.

The Company establishes an allowance for bad debts through a review of several factors including historical collection experience, current aging status of the customer accounts, and financial condition of our customers. The Company does not generally require collateral for our accounts receivable. There were 0 accounts receivable and allowance for doubtful accounts as of September 30, 2021 and December 31, 2020.

Risk Concentrations

The Company does not hold cash in excess of federally insured limits.

General and Administrative Expenses

The Company's general and administrative expenses consisted of the following types of expenses during 2021 and 2020: Legal and accounting, consulting, office expenses and other administrative related expenses.

Property and Equipment

Property and equipment are carried at the cost of acquisition or construction and depreciated over the estimated useful lives of the assets. Costs associated with repair and maintenance are expensed as incurred. Costs associated with improvements which extend the life, increase the capacity, or improve the efficiency of our property and equipment are capitalized and depreciated over the remaining life of the related asset. Gains and losses on dispositions of equipment are reflected in operations. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets.

Impairment of Long-Lived Assets

The Company reviews the carrying value of its long-lived assets annually or whenever events or changes in circumstances indicate that the historical cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the asset by comparing the undiscounted future net cash flows expected to result from the asset to its carrying value. If the carrying value exceeds the undiscounted future net cash flows of the asset, an impairment loss is measured and recognized. An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset. Fair value is determined based on either expected future cash flows at a rate we believe incorporates the time value of money. No indications of impairments were identified in 2021 or 2020.

Basic and Diluted Net (Loss) per Share

Schedule of earning per share basic and diluted:

When an entity has a net loss, it is prohibited from including potential common shares in the computation of diluted per share amounts. Accordingly, we have utilized basic shares outstanding to calculate both basic and diluted loss per share for the periods ended September 30, 2021, and 2020. The number of potential anti-dilutive shares excluded from the calculation shares for the period ended September 30, 2021, is 21,401,000.

Income Taxes

In December 2017, the Tax Cuts and Jobs Act (the "Act") was enacted, which, among other changes, reduced the federal statutory corporate tax rate from 35% to 21%, effective January 1, 2018. As a result of this change, the Company's statutory tax rate for fiscal 2019 and 2020 will be 21%. The Company recognizes deferred tax assets and liabilities based on differences between the financial reporting and tax basis of assets and liabilities using the enacted tax rates and laws that are expected to be in effect when the differences are expected to be recovered. As of September 30, 2021, and December 31, 2020, the Company has not reflected any amounts as a deferred tax asset due to the uncertainty of future profits to offset any net operating loss.

The Company's deferred tax assets consisted of the following as of September 30, 2021 and December 31, 2020:

Schedule of deferred tax assets and liabilities:

Uncertain tax position

The Company also follows the guidance related to accounting for income tax uncertainties. In accounting for uncertainty in income taxes, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. No liability for unrecognized tax benefits was recorded as of September 30, 2021 and December 31, 2020.

Fair Value of Financial Instruments

The Company's financial instruments consist of cash and cash equivalents, accounts payable and debt. The carrying amount of these financial instruments approximatesASC guidance for fair value due eithermeasurements and disclosure establishes a fair value hierarchy that prioritizes the inputs to lengthvaluation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.the fair value hierarchy are described below:

ResearchLevel 1 Inputs – Quoted prices for identical instruments in active markets.

Level 2 Inputs – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and Developmentmodel-derived valuations whose inputs are observable or whose significant value drivers are observable.

The Company spent 0 money for research and development cost for the periods ended September 30, 2021 and December 31, 2020.

Advertising Cost

The Company spent $0 for advertisement for the periods ended September 30, 2021 and 2020.

NOTE 2Level 3 Inputs – GOING CONCERN

As shown in the accompanying condensed consolidated financial statements, The Company has an accumulated deficit of $601,677 since its inception and had a working capital deficit of $82,425, negative cash flows from operations and limited business operations as of September 30, 2021. These conditions raise substantial doubt as to The Company's ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if The Company is unable to continue as a going concern.

The Company continues to review its expense structure. Management plans to continue raising funds through debt and equity financing. This financing may be insufficient to fund expenditures or other cash requirements. There can be no assurance that additional financing will be available to the Company on acceptable terms or at all. These financial statements do not give effect to adjustments to assets would be necessary for the Company be unable to continue as going concern.

NOTE 3 – NOTES PAYABLE AND CONVERTIBLE NOTE PAYABLESInstruments with primarily unobservable value drivers.

As of September 30, 2021,March 31, 2022, and December 31, 2020,2021, the Company’s financial assets were measured at fair value using Level 3 inputs, with the exception of cash, which was valued using Level 1 inputs.

Per Share Amounts

Earnings per share are calculated in accordance with ASC 260 “ Earnings per Share”. The weighted average number of common shares outstanding during each period is used to compute basic earnings (loss) per share. Diluted earnings per share are computed using the weighted average number of shares and potentially dilutive common shares outstanding. Potentially dilutive common shares are additional common shares assumed to be exercised. Potentially dilutive common shares consist of stock warrants, convertible preferred shares and convertible notes and are excluded from the diluted earnings per share computation in periods where the Company has incurred a net loss or where the average stock price was below the exercise price of the respective potentially dilutive common share, as their effect would be considered anti-dilutive.

The Company had no options or warrants outstanding at March 31, 2022 and March 31, 2021.

At March 31, 2022 and 2021, the Company had unamortized discountno potentially dilutive common stock related to outstanding stock warrants.

Related Party Transactions

FASB ASC 850, “Related Party Disclosures” requires companies to include in their financial statements, disclosures of material related party transactions. The Company discloses all material related party transactions. A party is considered to be related to the Company if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. A party which can significantly influence the management or operating policies of the transacting parties or if it has an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests is also a related party.

NOTE 2 – INVENTORIES

Inventories are carried at the lower of cost or fair value and consists of the supplies on-hand for use in future customer arrangements. Inventory balances of March 31, 2022, and December 31, 2021, respectively, were as follows:

NOTE 3 – PROPERTY, PLANT AND EQUIPMENT

Property consists of the following at March 31, 2022 and December 31, 2021:

Depreciation and amortization have been provided over each asset’s estimated useful life. Depreciation and amortization expense was $3,882227,236 and $0 for the three months ended March 31, 2022 and 2021 respectively.

The Company analyzed the below convertible notes for derivatives noting none.

On December 16, 2019, the Company issued a Promissory Note to Specialty Capital Lenders LLC (“Specialty”) in the amount of Eighty-Nine Thousand Two Hundred Fifty-Eight dollars ($89,258.00) (see Note 6. Related Party Promissory Note). The unpaid principal accrues interest at the rate of five percent (5.00%) per annum starting on January 1, 2020, and the note matures on January 31, 2021 (the “Maturity Date”). On the Maturity Date, the Company must pay Specialty the outstanding principal balance together with all accrued and unpaid interest.

 Schedule of debtNOTE 4 – UNBILLED ACCOUNTS RECEIVABLE

 ScheduleUnbilled accounts receivable represents amounts for which work has been performed but not yet billed. The following table shows the amounts as of short term debtMarch 31, 2022 and December 31, 2021:

NOTE 45 – RELATED PARTY TRANSACTIONSGOODWILL

Impairment of Goodwill and Other Intangible Assets. As of January 31, 2022, goodwill recorded on our Condensed Consolidated Balance Sheet aggregated $25.5 million which relates to our purchase of AMR Resources, LLC (AMR) on February 1, 2022. We perform an annual impairment review in the first quarter of each fiscal year.

In accordance with ASU 2017-04, “Intangibles – Goodwill and Other - Simplifying the Test for Goodwill Impairment,” The adoption of ASU 2017-04 requires that an entity should perform an annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit.

On March 31, 2022, we performed our annual goodwill impairment test and estimated the fair value of AMR based on the recent purchase of AMR. We concluded that the goodwill assigned to AMR, as of March 31, 2022, was not impaired and that AMR unit was at risk of failing step one of the goodwill impairment test as prescribed under the ASC.

NOTE 6 – INCOME TAXES

The Company is provided office space by onehas adopted ASC 740-10, “ Income Taxes”, which requires the use of the officersliability method in the computation of income tax expense and directors at no charge.the current and deferred income taxes payable (deferred tax liability) or benefit (deferred tax asset). Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.

The Company’s effective tax rate for the period ended March 31, 2022 and for the period ended March 31, 2021 varies from the statutory rate of 21% due to valuation allowance which creates a near zero effective tax rate. The Company believes that this office spaceintends to continue maintaining a full valuation allowance on our deferred tax assets until there is sufficient for its needs forevidence to support the foreseeable future.

On December 16, 2019, the Company’s former President sold the obligation owed to him by the Companyreversal of $89,258.00 to Specialty Capital Lenders, LLC an affiliate and related party to the Company. These Company liabilities were converted to a Note Payable which started accruing interest on January 1, 2020 at a rate of five percent (5%) per annum. The Note matures on October 31, 2021.

As of both September 30, 2021 and December 31, 2020, the Company recorded both the principal and accrued and unpaid interest related to the Promissory Note as a current liability on its balance sheet, as the note’s October 31, 2021 maturity date is within twelve (12) monthsall or some portion of the reporting date.

As of September 30, 2021,valuation allowance. However, given our current earnings and anticipated future earnings, it is reasonably possible that in the Company has a balance of $97,108 and $93,733, respectively, of note payable and accrued interest payable with related parties.near future sufficient positive evidence may become available to support the conclusion that no valuation allowance is necessary.

NOTE 5 –7– STOCK HOLDERS' DEFICITSTOCKHOLDERS’ EQUITY

CommonPreferred Stock

The Company is authorized to issue 50,000,000 shares of common stock, par value $0.001. As of September 30, 2021 and December 31, 2020, there were 11,081,3365,000,000 shares of commonpreferred stock at a par value of $0.001 per share.

As of March 31, 2022 and December 31, 2021, the Company has 600,000 shares of Preferred Stock issued and outstanding.

During the nine months ending September 30, 2021, the Company did not issue any common stock.

During the nine months ending September 30, 2020, the Company issued 300,000Common Stock common shares for $75,000 cash and issued no preferred stock.

Preferred Stock

The Company is authorized to issue 5,000,000 shares of preferred stock, par value $0.001. As of September 30, 2021 and December 31, 2020, there were 600,00050,000,000 shares of preferredcommon stock outstanding.

During the nine months ending September 30, 2021 and 2020, the Company did not issue any preferred stock.

Options and Warrantsat a par value of $0.001 per share.

As of September 30, 2021March 31, 2022 and December 31, 2020,2021, the Company has no options or warrantshad 11,081,336 shares of its common stock issued and outstanding.

NOTE 6 – INCOME TAXES

The Company follows ASC 740, Accounting for Income Taxes. During 2009, there was a change in control of the Company. Under section 382 of the Internal Revenue Code such a change in control negates much of the tax loss carry forward and deferred income tax. Deferred income taxes reflect the net tax effects of (a) temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax reporting purposes, and (b) net operating loss carry forwards. For federal income tax purposes, the Company uses the accrual basis of accounting, the same that is used for financial reporting purposes.

The Company did not have taxable incomeissue any shares of its common stock during the three months ended March 31, 2022 or 2021.

The Company's deferred tax assets consisted

Options

As of both March 31, 2022 and December 31, 2021, the following asCompany had no stock options outstanding.

Warrants

As of September 30,both March 31, 2021 and December 31, 2020:2021, the Company had no warrants outstanding.

NOTE 8 – COMMITMENTS AND CONTINGENCIES

Leases

The Company accounts for leases according to ASC 842 - Leases, which requires recognition of a right-of-use asset and lease liability for all leases at the commencement date based on the present value of lease payments over the lease term. In addition, the Company has elected other available practical expedients to not separate lease and non-lease components for all classes of underlying assets and to exclude leases with an initial term of 12 months or less. The Company determines if a contract is or contains a lease at inception.

As the implicit rate is not readily determinable for most of September 30, 2021,the Company’s lease agreements, the Company uses an estimated incremental borrowing rate to determine the initial present value of lease payments. These discount rates for leases are calculated using the Company’s interest rate of promissory notes.

The Company leases various vehicles under financing leases expiring in various years through 2026. The assets and liabilities under financing leases are recorded at the lower of the present value of the minimum lease payments or the fair value of the asset. The assets are amortized over their estimated useful lives. Amortization of assets under capital leases is included in depreciation expense for the three months ended March 31, 2022. The following is a summary of property held under capital leases as of March 31, 2022 and December 31, 2020,2021.

Schedule of property held under capital leases

Minimum future lease Payments under financing leases at March 31, 2022 and December 31, 2021 are as follows:

Interest rates on financing leases vary from 2.36% to 19.28% and are imputed based upon the Company's accumulated net operating loss carry forward was approximately $601,677 and $570,579, respectively. Of the $601,677, approximately $59,222 is available for carryforward. Before the implementationlower of the Tax CutsCompany’s incremental borrowing rate at the inception of each lease or the lessor’s implicit rate of return.

Operating Lease

The Company leases office space for its corporate headquarters in Kennesaw, Georgia under a sublease. The lease terminates on December 31, 2022 and Jobs Act (TCJA)since it is all current, the Company has elected not to record any Right of Use Assets and Lease Liabilities. The lease provides for base monthly rent of $60,031.

The Company leases office space for the AMR Resources operations in 2018,Austin, Texas. In January 2022, the Internal Revenue Service (IRS) allowed businesses to carry net operating losses forward 20 years to net against future profits and backward two years for an immediate refund of previous taxes paid. Net operating losses may now be carried forward indefinitely until the loss is fully recovered, but they are limited to 80%Company entered into a sixty-four month lease through June 2027. As part of the taxable income inagreement the Company received four months free rent. The Company makes tiered lease payments on the 1st of each month. The Company’s lease does not have any one tax period. residual value guarantees or restrictive covenants.

The CARES Act removedCompany classified the restrictions on tax loss carryback for tax years 2018, 2019,lease as an operating lease and 2020. The deferred taxdetermined that the value of the right of use lease assets have been adjusted to reflect(“ROU”) and liability at the recently enacted corporate taxinception of the lease was $214,389 using a discount rate of 2110%, which is the rate of the note payable. As the implicit rate is not readily determinable for the lease, the Company uses an estimated incremental borrowing rate to determine the initial present value of lease payments. The lease effective date is April 1, 2022. No rent expense or amortization of the ROU was recorded in the period.

The Company’s components of lease cost are as follows:

Other Contingencies

Coronavirus Pandemic

In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic, which continues to spread throughout the United States of America. Efforts implemented by local and national governments, as well as businesses, including temporary closures, are expected to have adverse impacts on local, national and the global economies. Although the disruption is currently expected to be temporary, there is uncertainty around the duration and the related economic impact. Therefore, while we expect this matter to have an impact our business, the impact to our results of operations and financial position cannot be reasonably estimated at this time.

Russia-Ukraine conflict

The Russian-Ukraine conflict is a global concern. The Company does not have any direct exposure to Russia or Ukraine through its operations, employee base, investments or sanctions. We have no basis to evaluate the possible risks of this conflict.

NOTE 9 – NOTES PAYABLE

On January 21, 2022, the Company issued the Note to GNET in an aggregate principal amount of $44 million. The Note bears interest at a rate of 10% per annum and matures on the Maturity Date, January 21, 2025. The principal balance of the Note must be repaid in equal monthly installments commencing September 23, 2022, with the final payment due on the Maturity Date. Interest is calculated on the basis of a 360-day year for the actual number of days elapsed and is payable as a balloon payment on the Maturity Date. Prepayments are permitted subject to certain terms and conditions. The Note is secured by substantially all of the Company’s assets. The proceeds were used for working capital and to fund the acquisition of AMR Resources as described previously and below.

Acquisition of AMR Resources

On February 1, 2022, the Company completed the AMR Resources Acquisition for $40.4 million in cash, pursuant to the AMRR Agreement, subject to post-closing adjustment as contemplated therein. In contemplation of the AMR Resources Acquisition, OnePath formed AMR Resources and contributed those assets necessary for the operation of its integrated services business. As a result of the AMR Resources Acquisition, the Company acquired all of the outstanding limited liability company interests of AMR Resources and the former integrated services business of OnePath and AMR Resources became a wholly owned subsidiary of the Company.

AMR Resources has approximately 125 vehicle leases which are accounted for as finance leases and included in assets under property and equipment and in liabilities under notes payable. The following is a schedule of the Company’s long-term debt:

Schedule of long term debt

The Company purchased the following assets (liabilities) on February 1, 2022 for $40.4 million, with the difference being recorded as goodwill. The following represent the fair value of the assets and liabilities per the best and most current information available at the time of acquisition. The recorded amounts are subject to adjustment from valuation reports post-closing.

Schedule of assets and liabilities

NOTE 710 – SUBSEQUENT EVENTS

As of September 30, 2021, theThe Company was obligated to Specialty Capital Lenders LLC for $89,258 with accrued interest of $7,850 for a total of $97,108 evidenced by a note that matures on Octoberhas evaluated events from March 31, 2021. As of2022, through the date hereof,when the maturity date of the note was extendedfinancial statements were available to January 31, 2022.issue and has determined there were no items requiring disclosure.

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

Management’s Plan of Operation.FORWARD-LOOKING STATEMENTS

The following discussion containsThis quarterly report on Form 10-Q includes forward-looking statements.statements within the meaning of Section 27A of the Securities Act of 1933, as amended, which we refer to in this annual report as the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, which we refer to in this annual report as the Exchange Act. Forward-looking statements giveare not statements of historical fact but rather reflect our current expectations, or forecasts ofestimates and predictions about future results and events. You can identify theseThese statements by the fact that they do not relate strictly to historical or current facts. Theymay use of words such as “anticipate,” “believe,” “estimate,” “expect,” “project,” “intend,” “plan,“predict,” “believe,“project” and similar expressions as they relate to us or our management. When we make forward-looking statements, we are basing them on our management’s beliefs and assumptions, using information currently available to us. These forward-looking statements are subject to risks, uncertainties and assumptions, including but not limited to, risks, uncertainties and assumptions discussed in this annual report. Factors that can cause or contribute to these differences include those described under the heading “Management Discussion and Analysis and Plan of Operation.”

If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may vary materially from what we projected. Any forward-looking statement you read in this annual report reflects our current views with respect to future events and is subject to these and other wordsrisks, uncertainties and termsassumptions relating to our operations, results of similar meaningoperations, growth strategy and liquidity. All subsequent written and oral forward-looking statements attributable to us or individuals acting on our behalf are expressly qualified in connection withtheir entirety by this paragraph. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this annual report. The Company expressly disclaims any discussionobligation to release publicly any updates or revisions to these forward-looking statements to reflect any change in its views or expectations. The Company can give no assurances that such forward-looking statements will prove to be correct.

The Company

The Company was incorporated in the State of future operating or financial performance. From timeNevada on June 29, 2009 as Premier Oil Field Services, Inc. and changed its name to time,American Metals Recovery and Recycling Inc. on April 25, 2014. The Company was dormant from 2015 until February 2021.

On August 2, 2021, the Company also may provide forward-looking statements in other materials that we releasefiled a Registration Statement on Form 10 to register the public.Company’s shares of common stock, $0.001 par value (“Common Stock”) under Section 12(g) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company received no proceeds as result of such registration.

Overview.Prior to December 23, 2021, Repository Services LLC, a Wyoming limited liability company (“Repository Services”), held 8,123,230 shares, or 73.3% of the issued and outstanding shares of, Common Stock and 100% of the issued and outstanding shares of preferred stock, par value $0.001 (“Preferred Stock”), of the Company. On December 23, 2021, Multiband Global Resources, LLC, a Delaware limited liability company (“Multiband”), acquired 7,923,230 shares, or 71.5% of the issued and outstanding shares of, Common Stock and 100% of the issued and outstanding shares of Preferred Stock in exchange for a cash payment of $500,000 paid by Multiband to Repository Services. Also in December 2021, Repository Services transferred the remaining 200,000 shares of Common Stock that were not purchased by Multiband to Katell Survivors Trust (Gerald Katell, Trustee), an unrelated third party.

Since September 25, 2015, the Company has met the definition of a "shell" company, whose sole purpose was to locate and consummate a merger or acquisition with a privately-held operating company private entity.

On January 21, 2022, the Company issued a Secured Promissory Note (“Note”) to GNET ATC, Inc. (“GNET”) in an aggregate principal amount of $44 million. The Note bears interest at a rate of 10% per annum and matures on January 21, 2025 (the “Maturity Date”). The principal balance of the Note must be repaid in equal monthly installments commencing September 23, 2022, with the final payment due on the Maturity Date. Interest is calculated on the basis of a 360-day year for the actual number of days elapsed and is payable as a balloon payment on the Maturity Date. Prepayments are permitted subject to certain terms and conditions. The Note is secured by substantially all of the Company’s assets. The proceeds of the Note were used for working capital and to fund the acquisition of AMR Resources, LLC (“AMR Resources”) as described below.

On February 1, 2022, the Company completed the acquisition of all outstanding limited liability company interests of AMR Resources for $40.5 million in cash (the “AMR Resources Acquisition”), pursuant to a Unit Purchase Agreement (the “AMRR Agreement”), dated February 1, 2022, by and between the Company and OnePath Systems, LLC (“OnePath”), subject to post-closing adjustment as contemplated therein. In contemplation of the AMR Resources Acquisition, OnePath formed AMR Resources and contributed those assets necessary for the operation of its integrated services business. As a result of the AMR Resources Acquisition, the Company acquired 100% of the outstanding limited liability company interests of AMR Resources and the former integrated services business of OnePath and AMR Resources became a wholly owned subsidiary of the Company.

The Company seeks to acquire assets or shares of one or more additional privately-held entities actively engaged in revenue generating commercial activities in exchange for AMRR securities or cash. The Company is considering other acquisition candidates but has not entered into any acquisition agreements for additional acquisitions.

The Company’s current business objectivecommon stock is subject to seekquotation on the OTC Markets Group, Inc. Pink Open Market Platform (“Pink Sheets”) under the symbol AMRR. There is currently only a business combination withlimited trading market in the Company’s shares, nor do we believe that any active trading market has existed for approximately the last five years. There can be no assurance that there will be an operating company. The Company intendactive trading market for our securities following the effective date of this Registration Statement under the Securities Exchange Act of 1934, as amended (“Exchange Act”). In the event that an active trading market commences, there can be no assurance as to use our limited personnel and financial resources in connection with such activities. We will utilize our 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 may significantly reduce the equity interest of our shareholders, will likely cause a change in control if a substantial numbermarket price of our shares of capitalcommon stock, are issued, and most likelywhether the trading market will also resultprovide liquidity to investors, or whether any trading market will be sustained.

Segment Information

Not required for smaller reporting Companies

Employees

As of March 31, 2022, we had approximately 300 employees, all in the resignation or removal of our present officer and director and may adversely affect the prevailing market price for our common stock.United States. Consultants are retained from time to time.

If we issued debt securities, it could result in default and foreclosure on our assets if our operating revenues after a business combination were insufficient to pay our debt obligations, acceleration of our obligations to repay the indebtedness even if we have made all principal and interest payments when due if the debt security contained covenants that required the maintenance of certain financial ratios or reserves and any such covenants were breached without a waiver or renegotiations of such covenants, our immediate payment of all principal and accrued interest, if any, if the debt security was payable on demand, and our inability to obtain additional financing, if necessary, if the debt security contained covenants restricting our ability to obtain additional financing while such security was outstanding.Overview.

Going Concern.At December 31, 2021, the Company had no business operations.

On January 21, 2022, the Company issued a $44 million Note to GNET, which bears interest at a rate of 10% per annum and matures on the Maturity Date, January 21, 2025. The principal balance of the Note must be repaid in equal monthly installments commencing September 23, 2022, with the final payment due on the Maturity Date. Interest is calculated on the basis of a 360-day year for the actual number of days elapsed and is payable as a balloon payment at the maturity date. Prepayments are permitted subject to certain terms and conditions. The Note is secured by substantially all of the Company’s assets. The Company used $40.5 million of the proceeds to acquire AMR Resources on February 1, 2022. The remaining proceeds of the Note have been and will be used to fund the operating activities of the Company and AMR Resources.

On February 1, 2022, the Company acquired 100% of the outstanding limited liability company interests of AMR Resources consisting of the former integrated services business of OnePath for $40.5 million in cash subject to post-closing adjustment as contemplated by the AMRR Agreement, and AMR Resources became a wholly owned subsidiary of the Company. Since purchasing AMR Resources, the Company establishing corporate infrastructure necessary to operate our wholly owned subsidiary, AMR Resources, as an independent business.

AMR Resources designs, deploys and maintains integrated low-voltage systems for the commercial and residential market. This includes Life Safety, Physical Security, Audio-Visual, Networking and Structured Cabling solutions.  With approximately 300 employees and over 5,000 subcontractors, AMR Resources has a national footprint, with a heavy concentration in the Southeastern United States and is headquartered in the Atlanta, Georgia metropolitan area.

As of December 31, 2021, the Company did not have any business operations. As of December 31, 2021, the Company had assets totaling $138, liabilities totaling $99,263, and a working capital deficit of $99,125.

Results of Operations for the three months ended March 31, 2022, as compared to the three months ended March 31, 2021

The Company’s audited financial statements forCompany purchased AMR Resources on February 1, 2022 and all revenue reflects only two months of operations through March 31, 2022. We only generated revenues in February and March of 2022 after the years ended December 31, 2020acquisition of AMR Resources, LLC and 2019, were prepared using the assumption that we will continue our operations as a going concern. Our independent accountants in their audit report have expressed substantial doubt about our ability to continue as a going concern. Our operations are dependent on our ability to raise sufficient capital or complete business combination as a result of which we become profitable. Our financial statements dodid not include any adjustments that may result from the outcome of this uncertainty.

The Company had not generatedgenerate any revenues during the years 2020three months ended March 31, 2021. We had income of $10,771,627 for the three months ended March 31, 2022 and 2019.$0 for the three months ended March 31, 2021. Our cost of revenues was $8,237,627 for the three months ended March 31, 2022 resulting in gross profit of $2,534,000 for the three months ended March 31, 2022 and cost of revenues and gross profit of $0 for the three months ended March 31, 2021. The increase in revenues was due to the purchase of AMR Resources, LLC On February 1, 2022 which had ongoing operations. The Company had total operating expenses of $23,620 during the year ended December 31, 2020$2,397,962 and total operating expenses of $6,600 in the year ended December 31, 2019. The Company incurred $4,475 interest expense during the year ended December 31, 2020 and no interest expense during the year ended December 31, 2019. During the years ended December 31, 2020 and December 31, 2019, the Company had a net loss of $28,125 and $6,600, respectively.

The Company has not generated any revenues during the quarter ended September 30, 2021. The Company had total operating expenses of $8,483$15,600 for the three months ended September 30,March 31, 2022 and 2021 and $27,723 for the nine months ended September 21, 2021 (as compared to $34,689 for the nine months ended September 30, 2020). The Company had total operating expenses of $23,620 during the year ended December 31, 2020. The Company incurred $1,214 interest expense forrespectively.

For the three months ended September 30, 2021, $1,125 forMarch 31, 2022, we incurred other income and expense $951,864 made up of $953,614 of interest expense and $1,750 of other income. For the three months ended September 30, 2020, $3,374 forMarch 31, 2021 we incurred $1,125 in interest expense. The increase was mainly due to the nine months ended September 30, 2031 and $3,351 forinterest of 10% on the nine months ended September 30, 2020.Company’s $44 million note payable.

During the three months ended September 30,March 31, 2022 and 2021, we incurred net losses of $815,826 and the three months ended September 30, 2020, the Company had a net loss of $9,607 and $8,785,$16,725, respectively. During the nine months ended September 30, 2021 and the nine months ended September 30, 2020, the Company had a net loss of $31,097 and $38,040, respectively.

Liquidity and Capital Resources.

As of DecemberMarch 31, 2020 and through the date hereof,2022, the Company has no business operationshad assets totaling $54,850,577, liabilities totaling $39,692,650, and limited cash resources other than that provided by Repository Services LLC. We are dependent upon interim funding to be provided by Repository Services LLC or Specialty Capital Lenders LLC to pay professional fees and expenses. Ifa working capital of $7,177,462.

On January 21, 2022, the Company require additional financing,received $44 million of loan proceeds from issuance of the Note. The Company cannot predict whether equity or debt financingused $40.5 million of the proceeds to acquire AMR Resources on February 1, 2022. The remaining proceeds of the Note will become available at terms acceptablebe used to us, if at all. Repository Services LLC has agreed to provide funding as may be required to pay for accounting fees and other administrative expensesfund the operating activities of the Company until the Company enters into a business combination. The Company would be unable to continue as a going concern without interim financing provided by Repository Services LLC.

As of December 31, 2020,and AMR Resources. At May 26, 2022, the Company had cash of $43,436 and as of December 31, 2019, the Company had no cash. As of September 30, 2021, the Company had $15,164 in total assets and $97,489 in total liabilities.

The Company had a negative cash flow from operations of $36,040 during the year ended December 31, 2020, mainly due to a net loss of $28,125 and a negative cash flow from operations during the quarter ended September 30, 2021, due to a net loss of $9,607. The Company had financed our negative cash flow from operations during the twelve months ended December 31, 2020 through the sale of shares of common stock to three investors. The Company did not sell and issue any securities during the nine months ended September 30, 2021.

The Company does not currently engage in any business activities that provide cash flow. The costs of investigating and analyzing business combinations, maintaining the filing of Exchange Act reports, the investigation, analyzing, and consummation of an acquisition for an unlimited period of time will be paid from additional money lent to the Company by Repository Services LLC.

The Company currently plans to satisfy its cash requirements for the next twelve months through itsapproximately $1,800,000.00 cash on hand and borrowings from Repository Services LLC or Specialty Capital Lenders LLC or entities or individuals affiliated with eithercurrent liabilities of approximately $7,100,000.00.

Following the AMR Resources Acquisition, we will incur significant and believes it can satisfy its cash requirements so long asundetermined costs to establish corporate infrastructure necessary to operate the Company areand AMR Resources, as an independent business. Actions required include preparing and filing required consolidated financial statements of the Company and its subsidiaries. The Company’s ability to obtain debt and equity financing will be very limited until it is able to obtain financing from these parties. The Company expects that money borrowed will be used during the next twelve monthsprovide historical financial statements and other financial information to satisfy the Company’s operating costs, professional fees and for general corporate purposes.potential investors.

During the next twelve12 months we anticipate incurring costs related to filing of Securities Exchange Act of 1934, as amended, reports, franchise fees, transfer agent fees, registered agent fees, legal fees, accounting fees, and investigating, analyzing, and consummating an acquisitionone or more acquisitions or business combination. The amount of such costs cannot be estimated as it will vary based on the number, size and types of business acquisitions we consider and consummate.

The Company estimatescurrently plans to satisfy our cash requirements for the next 12 months through our cash on hand and additional borrowings. The Company may be unable to obtain debt or equity financing to fund continuing operations and planned business acquisitions. Management believes it can satisfy our cash requirements so long as we are able to obtain the necessary financing. The Company expects that these costsany money borrowed will be used during the next 12 months to fund operating activities and business acquisitions.  

Contractual Obligations and Commitments.

The Company maintains approximately 125 vehicle leases which are recorded on the balance sheet.

Critical Accounting Policies.

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. At both March 31, 2022 and December 31, 2021, the Company’s cash balance was $1,774,532 and $138, respectively. The Company maintains cash balances at financial institutions insured up to $250,000 by the Federal Deposit Insurance Corporation.

Fair Value of Financial Instruments

The fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced sale or liquidation. The carrying amount of the Company’s short-term financial instruments approximates fair value due to the relatively short period to maturity for these instruments.

Accounts Receivable and Allowance for Doubtful Accounts

It is the Company’s policy to record accounts receivable at the amount management expects to collect from outstanding balances. The Company generally does not require collateral to support customer receivables. The Company provides an allowance for doubtful accounts based upon a review of the outstanding accounts receivable, historical collection information and existing economic conditions. The Company determines if receivables are past due based on days outstanding, and amounts are written off when determined to be uncollectible by management. The maximum accounting loss from the credit risk associated with accounts receivable is the amount of the receivable recorded, which is the face amount of the receivable net of the allowance for doubtful accounts. As of March 31, 2022, and December 31, 2021, respectively, the Company had accounts receivable of $9,019,768 and $0, respectively, and at March 31, 2022 and December 31, 2021, the Company had $528,851 and $0 allowance for doubtful accounts, respectfully.

Revenue Recognition and Cost of Revenues

We account for revenue in accordance with FASB ASC Topic 606, Revenue from Contracts with Customers. Under that standard, revenue is recognized at a point in time or over time when performance obligations are fulfilled by delivery of goods or services to the customer. The core principals of revenue recognition under ASC 606 include the following five criteria: 1) Identify the contract with the customer; 2) Identify the performance obligations in the rangecontract; 3) Determine the transaction price; 4) Allocate the transaction price to the performance obligations in the contract; and 5) Recognize revenue when (or as) we satisfy a performance obligation.

Equity–based compensation

The Company recognizes compensation expense for all equity–based payments in accordance with ASC 718 “Compensation – Stock Compensation”. Under fair value recognition provisions, the Company recognizes equity–based compensation net of tenan estimated forfeiture rate and recognizes compensation cost only for those shares expected to twelve thousand dollars per year,vest over the requisite service period of the award.

The fair value of an option award is estimated on the date of grant using an option pricing model when quoted market prices are not available. Determining the appropriate option pricing model and calculating the fair value of equity–based payment awards require the use of assumptions that may be subjective. The assumptions used in calculating the fair value of equity–based payment awards represent management’s best estimates, which involve inherent uncertainties and the application of management’s judgment. As a result, if factors change and the Company uses different assumptions, the equity–based compensation could be materially different from amounts recorded in the financial statements.

During the three months ended March 31, 2022 and 2021, the Company had no equity-based payment awards outstanding and did not issue any equity-based payments. The Company did not record any expense or liabilities for equity-based payment awards for the three months ended March 31, 2022 and 2021.

Income Taxes

The Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. There were no unrecognized tax benefits as of March 31, 2022 and December 31, 2021. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties as of March 31, 2022 and December 31, 2021. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception.

The Company may be subject to potential examination by federal, state, and city taxing authorities in the areas of income taxes. These potential examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions, and compliance with federal, state, and city tax laws. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.

Earnings (Loss) Per Share

The Company will be ablecomputes net loss per share in accordance with ASC 260, Earnings Per Share, which requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net loss available to meet these costs as necessary with fundscommon shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing Diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be advancedpurchased from the exercise of stock options or loaned to us by Repository Services LLCwarrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.

For the three-month periods ended March 31, 2022 and 2021, there were no dilutive instruments as the Company did not have any convertible debt and/or Specialty Capital Lenders LLC.equity instruments issued and outstanding as of these dates.

As of September 30, 2021, the Company was obligated to Specialty Capital Lenders LLC for $89,258 with accrued interest of $7,850 for a total of $97,108 evidenced by a note that matures on OctoberMarch 31, 2021. As of the date hereof, the maturity date of the note was extended to January 31, 2022.

Off-Balance Sheet Arrangements.

As of December 31, 2020 and 2019, September 30, 2021 and 2020, the Company2022, we did not have any off-balance sheet arrangements, as defined in Item 303(a)(4)(ii) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended,.

Contractual Obligations and Commitments.

As of December 31, 2020 and 2019, September 30, 2021 and 2020, the Company did notwhich have any contractual obligations.

Critical Accounting Policies.

Our significant accounting policiesor are described in the notesreasonably likely to have a material adverse effect on our financial statements.condition, results of operations or liquidity.

ITEM 3. QUANTITATIVE AND QUALITIVE DISCLOSURESQUALITATIVE DISCLOSURE ABOUT MARKET RISK.RISK

Not Applicable.applicable.

ITEM 4. CONTROLS AND PROCEDURES.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures.Procedures

Internal control over financial reporting refers to the process designed by, or under the supervisionWe carried out an evaluation of our Chief Executive Officer and Chief Financial Officer, and to be effected by the Board of Directors and management (solely Quynh Hoa T. Tran), to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles, and includes those policies and procedures that:

(a)       Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets;

(b)       Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorization of our management and directors; and

(c)       Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisitions, use or disposition of our assets that could have a material effect on the financial statements.

Internal control over financial reporting cannot provide absolute assurance of achieving financial reporting objectives because of its inherent limitations. It is a process that involves human diligence and compliance and is subject to lapses in judgment and breakdowns resulting from human failures. It also can be circumvented by collusion or improper management override.

Because of such limitations, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process certain safeguards to reduce, though not eliminate, this risk.

Management is and will be responsible for establishing and maintaining adequate internal control over our financial reporting. To assist and because of lack of personnel, current management has engaged an outside certified public accountant to assist in the financial reporting. We have been informed that our outside certified public accountant has used various frameworks to evaluate the effectiveness of our internal control over financial reporting. Based upon this assessment, management has concluded that our internal control over financial reporting was effective for the reported then quarter ended.

Ourdesign and operation of our disclosure controls and procedures (as defined in Exchange Act RuleRules 13a-15(e) and 15d-15(e)) haveas of March 31, 2022. This evaluation was accomplished under the supervision and with the participation of our chief financial officer / principal executive officer and our financial consultants who concluded that our disclosure controls and procedures are effective to ensure that all material information required to be filed in the annual report on Form 10-K has been made known to them. The evaluation did not include a 404A assessment. For purposes of this section, the term disclosure controls and procedures mean controls and other procedures of an issuer that are designed to provide reasonable assuranceensure that information required to be disclosed by the issuer in ourthe reports filedthat it files or submittedsubmits under the Securities Exchange Act of 1934, as amended,, such as this quarterly report on Form 10-Q,(15 U.S.C. 78a et seg.) is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission'sCommission’s rules and forms. Our disclosureDisclosure, controls and procedures are alsoinclude, without limitation, controls and procedures designed to ensure that such information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, as amended (the “Act”) is accumulated and communicated to the issuer’s management, including its principal executive and our Chief Executive Officer - Chief Financial Officer,principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

Quynh Hoa T. Tran with the assistance of our outside certified public accountant has conducted an evaluation of the effectiveness of our disclosure controls and procedures. The Company cause to perform this evaluation on a quarterly basis so that the conclusions concerning the effectiveness of our disclosure controls and procedures can be reportedChanges in our quarterly reports on Form 10-Q and annual report on Form 10-K. Based on this evaluation, the Chief Executive Officer and ChiefInternal Controls over Financial Officer are required to conclude on the effectiveness of the disclosure controls and procedures as at the end of the quarter covered by the report.Reporting

The Company's disclosure controls and procedures mayCompany has not have been effective prior to our engaging an auditing firm and our preparation for the filing of our General Form for Registration of Securities of Small Business Issuers under Section 12(g) of the Securities Exchange Act of 1934 on Form 10 on August 2, 2021, as the Company was not required to address management’s assessment of disclosures controls and procedures. As that time, we instituted new reporting and approval procedures that have remediatedmade any potential material weaknesses and the Company further concluded that our internal controls over financial reporting was effective. We are taking additional measures to enhance the ability of our systems of disclosure controls and procedures to timely identify and respond to any federal or state substantive changes that are applicable to us.

Changes in Internal Controls.

There were no changes in ourits internal controls over financial reporting that occurred during the period covered by this report on Form 10-Q that have materially affected, or is reasonably likely to materially affect, ourits internal controlscontrol over financial reporting.

PART II – OTHER INFORMATION

ITEM 1.1 LEGAL PROCEEDINGS

There have been noThe Company is not involved in any legal proceeding pending against the Company as required by Item 103 of Regulation S-K.proceedings.

ITEM 1A.. RISK FACTORS

In addition to the other information set forth in this report, careful consideration should be given to the factors discussed in Part I, "Item 1A. Risk Factors" in the Company’s Form 10 filed on October 2, 2021, which could materially affect the Company’s business, financial condition or future results. The risks described in the Company’s General Form for Registration of Securities of Small Business Issuers under Section 12(g) of the Securities Exchange Act of 1934 on Form 10 may not the only risks facing the Company. Additional uncertainties not currently known to the Company or that it currently deems to be immaterial also may materially adversely affect its business, financial condition and/or its plan of operation.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.Unregistered Sales of Equity Securities and Use of Proceeds

Since March 4, 2020, there has been no unregistered sales of equity securities.None.

On March 4, 2020, the Company sold and issued 300,000 shares of Common Stock to three accredited investors, [Silicon Beach LLC (Adam Sexton - Manager), Katell Survivors Trust (Gerald Katell, Trustee) and Quynh Hoa T. Tran], as that term is defined under the Securities Act, for cash at $ 0.25 per share.. Each restricted certificate contains a legend (i) stating that the shares have not been registered under the Securities Act and (ii) setting forth or referring to the restriction on transferability and sale of the shares under the Securities Act. Use of proceeds was for administrative and general corporate purposes.

ITEM 3. DEFAULTS UON SENIOR SECURITIESDefault Upon Senior Securities

Not ApplicableNone.

ITEM 4. MINE SAFETY DISCLOSURES.Mine Safety Disclosures

Not Applicableapplicable.

ITEM 5. OTHER INFORMATION.Other Information

Although the Company’s plan of operation is to acquire an interest in a business opportunity, the Company is not currently engaged in any negotiations to acquire a business opportunity or effectuate a business combination. However, the majority shareholder has had preliminary negotiations that, if consummated, may result in a change in control. This change of control may subsequently result in the Company identifying a business opportunity and consummating a business combination. We have been informed that if, pursuant to any arrangement or understanding with the person or persons acquiring securities in a transaction subject to the Securities Exchange Act of 1934, as amended, any persons are to be elected or designated as our directors, otherwise than at a meeting of security holders, and the persons so elected or designated will constitute a majority of the directors of the Company, then not less than ten (10) days prior to the date any such person or persons take office as a director, or such shorter period prior to the date the Securities and Exchange Commission may authorize upon a showing of good cause therefore, the Company shall make a filing with the Securities and Exchange Commission and comply with the Securities Exchange Act of 1934, as amended. In the event there is any resulting acquisition of a business opportunity, the Securities Exchange Act of 1934, as amended, requires us to provide certain information about significant acquisitions, including audited financial statements.None.

ITEM 6. EXHIBITS.Exhibits

*XBRL related information in Exhibit 101 to this Annual Report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liability of that section and shall not be incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing or document.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrantRegistrant has duly caused this reportReport to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: July 18, 2022

American Metals Recovery and Recycling, Inc.

Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.