See accompanying notes to the condensed consolidated financial statements.

GLOBAL LEADERS CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE AND NINE MONTHS ENDED JULYJANUARY 31, 20232022 AND 20222021

(Expressed in U.S. Dollars)

(Unaudited)

NOTE 1 -ITEM 1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of businessBusiness

Global Leaders Corporation, a Nevada corporation (the “Company”), was incorporated in the State of Nevada on July 20, 2020.

On July 20, 2020, Mr. Yip Hoi Hing Peter (“Mr. Peter Yip”), founder of the Company, iswas appointed as Chief Executive Officer, President and sole director of the Company. The Company plans to developis primarily engaged in the provision of professional consultancy services to management executives of small and medium enterprises in Hong Kong. The Company has adopted October 31 as its fiscal year end. Mr. Peter Yip currently holds the position of Chief Executive Officer and Chief Financial Officer of the Company, respectively.

Basis of Presentation and Principles of Consolidation

The accompanying unaudited condensed consolidated financial statements as of and for the three and nine months ended JulyJanuary 31, 20232022 and 2022,2021, have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The condensed consolidated balance sheet as of October 31, 2022,2021, included herein was derived from the audited consolidated financial statements as of that date, included in the Company’s Annual Report on Form 10-K filed with the SEC on February 7, 2023.January 28, 2022. These financial statements should be read in conjunction with that report.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods have been included. The results of operations for the interim periods presented are not necessarily indicative of the results of operations to be expected for the full fiscal year ending October 31, 2023.2022.

The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiarysubsidiaries Global Leaders Corporation, a holding company incorporated in Anguilla.Anguilla, and Global Leaders Academy Limited, a company incorporated in Hong Kong. All intercompany balances and transactions have been eliminated in consolidation.

COVID-19

The COVID-19 pandemic has negatively impacted the global economy, workforces, customers, and created significant volatility and disruption of financial markets. The Company monitors guidance from national and local public health authorities and has implemented health and safety precautions and protocols in response to these guidelines. The extent of the impact of the COVID-19 pandemic has had and will continue to have on the Company’s business is highly uncertain and difficult to predict and quantify at this time.

Going Concern

The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying condensed consolidated financial statements, for the ninethree months ended JulyJanuary 31, 2023,2022, the Company has generated limited revenue of $3,828, incurred a net loss of $463,54827,413 and used cash in operating activitiesoperations of $480,24894,293, and at January 31, 2022, had a stockholders’ deficit of $121,077. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that these financial statements are issued. In addition, the Company’s independent registered public accounting firm, in its report on the Company’s October 31, 2022,2021, financial statements, raised substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

At JulyJanuary 31, 2023,2022, our cash balance was $5,5814,101. Management estimates that the current funds on hand will be sufficient to continue operations through the next three to six months. The Company’s ability to continue as a going concern is dependent upon the Company’s ability to implement its business plans and continue receiving financial support from its officers and shareholders. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company can obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing.

COVID-19

The COVID-19 pandemic has negatively impacted the global economy. The Company continues to monitor guidance from national and local public health authorities and has implemented health and safety precautions and protocols in response to such guidance.

Use of estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and 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. Significant estimates include estimates for the accruals of potential liabilities.

Revenue recognition

The Company recognizes revenues when its customer obtains control of promised services, in an amount that reflects the consideration the Company expects to receive in exchange for those services,services. The Company recognizes revenue following the guidance offive-step model prescribed by Accounting Standards Codification (ASC) 606, “Revenue from ContractsContracts”, which includes (1) identifying the contracts or agreements with Customers”.a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients.

The Company’s revenue consists of revenue from providing business consulting and corporate advisory services. Revenues are recognized when control of the promised services is transferred to our customers, which may occur at a point in time or over time depending on the terms and conditions of the agreement, in an amount that reflects the consideration we expect to be entitled to in exchange for those services.

Cash and cash equivalents

Cash consists of funds on hand and held in bank accounts. Cash equivalents includes demand deposits placed with banks or other financial institutions and all highly liquid investments with original maturities of three months or less, including money market funds.

SCHEDULE OF CASH AND CASH EQUIVALENTS

Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash. As of JulyJanuary 31, 2023,2022, substantially all the Company’s cash was held by a major financial institution located in Hong Kong, which management believes is of high credit quality.quality

Fair value measurements

The Company follows the guidance of ASC 820-10, “Fair Value Measurements and Disclosures”, with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:

Level 1 : Observable inputs such as quoted prices in active markets;

Level 2 : Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3 : Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions

The Company believes the carrying amount reported in the balance sheet for cash and cash equivalents, prepaid expensesprepaids and other current assets, accrued liabilities and customer deposit, due to officer/principal shareholder,an officer, and due from or due to a related party, approximate their fair values because of the short-term nature of these financial instruments.

Foreign currency translation

The reporting currency of the Company is the United States Dollars (“US$”) and the accompanying condensed consolidated financial statements have been expressed in US$. In addition, the Company’s operating subsidiary uses Hong Kong Dollars (“HK$”) as its functional currency and maintains its books and records in the reportingits functional currency, US$, respectively.Hong Kong Dollars (“HK$”).

In general, for consolidation purposes, assets and liabilities of the Company’s subsidiaries whose functional currency is not the US$, are translated into US$ using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of a foreign subsidiary are recorded as a separate component of accumulated other comprehensive loss within stockholders’ equity.

Translation of amounts from the local currencies of the Company into US$ has been made at the following exchange rates for the period:

SCHEDULE OF FOREIGN CURRENCY TRANSLATION

Net loss per share

The Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed likesimilar to basic net loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. As of JulyJanuary 31, 2023,2022, the Company has no potentially dilutive securities, such as options or warrants, outstanding.

Concentrations

For the three and nine months ended JulyJanuary 31, 2023, one customer2022, no revenue was recorded. For the three months ended January 31, 2021, two customers accounted for 100% (63% and 37%) of the Company’s revenue, and at June 30, 2023, 100% of its accounts receivable. The customer is also an unrelated vendor to the Company, and accounted for 8% and 4% of the Company’s total operating expenses for the three and nine months ended July 31, 2023, respectively.revenue.

For the three and nine months ended JulyJanuary 31, 2023, one related party vendor2022, two vendors accounted for 7492% (50% and 7242%) of the Company’s total operating expenses, respectively. costs and expenses. For the three and nine months ended JulyJanuary 31, 2022, one related party vendor accounted for 47% and 56% of the Company’s total operating expenses, respectively. No other2021, three vendors accounted for 1077% or more(35%, 25% and 17%) of total operatingthe Company’s costs and expenses.

Recent Accounting Pronouncements

In June 2016, the FASB issued ASU No. 2016-13, Credit Losses –- Measurement of Credit Losses on Financial Instruments (“ASC 326”). The standard significantly changes how entities will measure credit losses for most financial assets, including accounts and notes receivables. The standard will replace today’s “incurred loss” approach with an “expected loss” model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for the Companyinterim and annual reporting periods beginning on November 1, 2023.after December 15, 2022. The adoption of ASU 2016-13 is not expected to have a material impact on the Company’s financial position, results of operations, and cash flows.

Other recent accounting pronouncements issued by the FASB, its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

NOTE 2 - DISCONTINUED OPERATIONSREVENUE FROM CONTRACTS WITH CUSTOMERS

On May 1, 2022, GLC Anguilla sold its entire 100% interest in GLA to an unrelated party for HK$1 (approximately $0.13), due to continuing losses incurred by GLA.The Company’s revenue consists of revenue from providing business consulting and corporate advisory services.

GLA was deconsolidated effective May 1, 2022,Our services when provided is a performance obligation. Revenue and expenses are deferred until the Company does not have any continuing involvement in the operationsperformance obligation is complete and collectability of the disposed subsidiary. The disposalconsideration is accountedprobable. For service contracts where the performance obligation is not completed, deferred costs of revenue are recorded as incurred and deferred revenue is recorded for as discontinued operationsany payments received on such yet to be completed performance obligations. On an ongoing basis, management monitors these contracts for profitability and accordingly, all prior periods presented in the accompanying consolidated balance sheets, statements of operations and statements of cash flows have been adjusted to conform to this presentation; no adjustment has beenwhen needed may record a liability if a determination is made to the prior period consolidated balance sheet as a result of the disposal. As of July 31, 2023, only one subsidiary, GLC Anguilla was owned by the Company.that cost will exceed revenue.

On May 1, 2022, before the disposal, GLA had net assets of $2,094 and net liabilities of $637. Contemporaneous with the sale of GLA, Mr. Peter Yip, sole director and principal shareholder of the Company, forgave liabilities due him by GLA of $137,049. As a result, the Company recorded a capital contribution to the Company of $137,049 and a loss on sale of discontinued operations of $1,457, respectively.

SCHEDULE OF SALE OF DISCONTINUED OPERATIONS

The following table summarizes certain selected components of discontinued operations for the disposed subsidiary for the three and nine months ended July 31, 2023 and 2022:

SUMMARY OF COMPONENTS OF DISCONTINUED OPERATIONS FOR DISPOSED SUBSIDIARY

NOTE 3 - STOCKHOLDERSRevenue

Shares issued for cashThe Company offers no discounts, rebates, rights of return, or other allowances to clients which would result in private placement

During the three months ended July 31, 2023,establishment of reserves against service revenue. Additionally, to date, the Company didhas not issue any shares of Common Stock.

During the nine months ended July 31, 2023, the Company sold 668,750 shares of restricted Common Stock to eighteen (18) individualsincurred incremental costs in obtaining a private placement at a price of $0.80 per share, for total proceeds of $535,000. The proceeds will be used to fund expansion of the Company’s operations.client contract.

For the three and nine months ended JulyJanuary 31, 2022, no revenue was recorded.

Cost of revenue

Cost of service revenue primarily consists of other professional fees directly attributable to the services rendered.

For the three months ended January 31, 2022, no cost of revenue was incurred.

NOTE 3 - STOCKHOLDERS’ EQUITY (DEFICIT)

Shares issued for cash in private placement

For the three months ended January 31, 2022, the Company did not issue any shares of its Common Stock.restricted common stock.

During the year ended October 31, 2021, the Company sold 112,500 shares of restricted common stock to four shareholders at a price of $0.8 per share, for total proceeds of $90,000.

NOTE 4 - Note 4. RELATED PARTY TRANSACTIONS

Mr. Yip Hoi Hing Peter Yip, CEO,(“Mr. Peter Yip”), Chief Executive Officer, Chief Financial Officer and Chairman of Board of Directors of the Company, is a 19.50%19.6% shareholder in the Company. In addition, two companies wholly owned by Mr. Peter Yip, CS Global Consultancy Limited (“CS Global”) and CSG Group Holdings Limited (“CSG Group”), are each a 19.4319.5% shareholdersshareholder in the Company.

In November 2022, the Company entered into two contacts with CS Global that have a term from November 1, 2022 to October 31, 2023. In the first contract, CS Global provides management services, as defined, to the Company for a monthly fee of $10,000 per month. In the second contract, CS Global provides monthly services, including office usage and manpower support as defined, to the Company for a monthly fee of approximately $24,000 (HK$187,200) per month. The Company also agreed to pay CS Global a one-time non-refundable fee of approximately $80,000 (HK$624,000) associated with the execution of the contracts. As the fee is non-refundable, and is not expected to have alternative future use, the $80,000 was expensed during the nine months ended July 31, 2023.

For the three months ended July 31, 2023, fees paid to CS Global totaled $101,435 consisting of management fees of $29,834 and office usage and manpower support of $71,601.

For the nine months ended July 31, 2023, fees paid to CS Global totaled $336,828 consisting of management fees of $89,621, other office usage and manpower support of $167,207, and the one-time fee of $80,000.

For the three and nine months ended JulyAt January 31, 2022, the Company did not incur any fees to CS Global.

As of July 31, 2023 and October 31, 2022, the Company owed Mr. Peter Yip had advanced $6,329108,705 and $56,297, respectively, for advances made to the Company for operations. The advances are due on demand, are unsecured, and are non-interest bearing.

Greenpro Capital Corp., through its wholly owned subsidiaries (collectively “Greenpro”), is a 5.835.9% shareholder in the Company. In addition, three executives of Greenpro are collectively 10.3610.4% shareholders in the Company.

For the three months ended July 31, 2023, the Company incurred total fees to Greenpro of $9,522, consisting of accounting fees of $5,737 and company secretarial fees of $3,785, respectively.

For the nine months ended July 31, 2023, the Company incurred total fees to Greenpro of $28,029, including accounting fees of $22,549, administration fees of $640, advisory fees of $800 and company secretarial fees of $4,040, respectively.

During the three months ended JulyJanuary 31, 2022, the Company incurred total professional fees to Greenpro of $14,91013,577, consisting of accounting fees of $12,469 and company secretarial fees of $2,441, respectively.

During the nine months ended July. At January 31, 2022, the Company incurred totalhad professional fees payable to Greenpro of $39,98210,000, consisting of accounting fees of $37,540 and company secretarial fees of $2,442, respectively..

As of July 31, 2023 and October 31, 2022, the Company prepaid $1,914 and $0 of accounting fee to Greenpro, respectively.

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

The following information should be read in conjunction with (i) the financial statements of Global Leaders Corp., a Nevada corporation, and the notes thereto appearing elsewhere in this Form 10-Q10-Q/A together with (ii) the more detailed business information and the October 31, 20222021 audited financial statements and related notes included in the Company’s most recent Annual Report on Form 10-K for the year ended October 31, 20222021 filed with the SEC on February 7, 2023.January 28, 2022. Statements in this section and elsewhere in this Form 10-Q10-Q/A that are not statements of historical or current fact constitute “forward-looking” statements.

OVERVIEW

Global Leaders Corp. (the “Company” or “we”) was incorporated in the State of Nevada on July 20, 2020 and has a fiscal year end of October 31.

GOING CONCERNGoing Concern

For the ninethree months ended JulyJanuary 31, 2023,2022, the Company incurred a net loss of $463,548$27,413 and used cash in operating activitiesoperations of $480,248.$94,293, and at January 31, 2022, had a stockholders’ deficit of $121,077. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that these financial statements are issued. In addition, the Company’s independent registered public accounting firm, in its report on the Company’s October 31, 2022,2021, financial statements, raised substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

At JulyJanuary 31, 2023,2022, our cash balance was $5,581.$4,101. Management estimates that the current funds on hand will be sufficient to continue operations through the next three to six months. The Company’s ability to continue as a going concern is dependent upon the Company’s ability to implement its business plans and continue receiving financial support from its officers and shareholders. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company can obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

USE OF ESTIMATESUse of estimates

The preparation ofIn preparing these condensed consolidated financial statements, in conformity with generally accepted accounting principles requires management to makemakes estimates and assumptions that affect the reported amounts of assets and liabilities disclosures of contingent assetsin the balance sheets, and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting year.periods reported. Actual results couldmay differ from thosethese estimates. Significant estimates include estimates for the accruals of potential liabilities.

REVENUE RECOGNITIONRevenue recognition

The Company recognizes revenues when its customer obtains control of promised services, in an amount that reflects the consideration the Company expects to receive in exchange for those services. The Company recognizes revenue following the guidance offive-step model prescribed by Accounting Standards Codification (ASC) 606, “Revenue from Contracts”.

The Company’s revenue consists of revenue from providing business consulting and corporate advisory services. Revenues are recognized when control of the promised services is transferred to our customers, which may occur at a point in time or over time depending on the terms and conditions of the agreement, in an amount that reflects the consideration we expect to be entitled to in exchange for those services.

RECENT ACCOUNTING PRONOUNCEMENTS

Refer to Note 1 in the accompanying condensed consolidated financial statements.

PLAN OF OPERATION

We started our business in 2020 and have a limited operating history. WeOur business commenced in 2020 and we intend to continue to expand the scope and geographic reach of our services by extending our coverage to service to more clients in different regions. Such plans are based on current intentions and assumptions. Our expansion plan may be hindered by factors beyond our control, such as general market conditions, our ability to attract qualified employees, government policies relevant to our industry, our ability to maintain our existing competitive advantages and new market entrants. For example, there may be ownership restrictions in new jurisdictions where we intend to expand. For us to operate as a management consultancy services provider in these jurisdictions, we may be required to identify suitable local partners to enter such new markets. If we are unable to successfully implement our growth strategy, our business, financial condition, results of operations and prospects may be materially and adversely affected.

Our anticipated future growth will likely place significant demand on our management and operational efficiency. Our success in managing our growth will depend, to a significant degree, on our ability to attract more new clients and retain existing clients and launch new services, and successfully monetize them, to increase our revenue. In addition, we will have to successfully adapt our existing services to changing industry and user conditions, and expand, train and manage our employees. The market in which we operate is highly dynamic and may not develop as expected. Our clients may not fully understand the value of our services and potential clients and candidates may have difficulty distinguishing our services from those of our competitors. If we are unable to manage our operations properly and prudently as we continue to grow in this dynamic and evolving market, or if the quality of our services deteriorates due to mismanagement, our brand name and reputation could be severely harmed, which would materially and adversely affect our business, financial condition, and results of operations.

Results of Operations

Three Months Ended JulyJanuary 31, 2023 and 2022

We recorded $3,828 of service revenues and $0 of cost-of-service revenuesNo revenue for the three months ended JulyJanuary 31, 2023.

We recorded no revenues and cost of revenues for the three months ended July 31, 2022.2022 was recorded.

For the three months ended JulyJanuary 31, 20232022, no cost of revenue was incurred, and 2022, general and administrative expenses were $136,671 and $32,019 and included $110,957 and $14,910 of general and administrative expensesexpense was $27,413, including $13,577 to a related parties for the three months ended July 31, 2023 and 2022, respectively.

Nine Months Ended July 31, 2023 and 2022

We recorded $3,828 of service revenues and $0 of cost-of-service revenues for the nine months ended July 31, 2023.

We recorded no revenues and cost of revenues for the nine months ended July 31, 2022.

For the nine months ended July 31, 2023 and 2022, general and administrative expenses were $467,376 and $71,905 and included $364,857 and $39,982 of general and administrative expenses to related parties for the nine months ended July 31, 2023 and 2022, respectively.party.

Liquidity and Capital Resources

At JulyJanuary 31, 2023,2022, our cash balance was $5,581.$4,101. Management estimates that the current funds on hand will be sufficient to continue operations through the next three months. No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is can obtain additional financing it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing. We do not have any financing arrangement and we cannot provide investors with any assurance that we will be able to raise sufficient funding to fund our operations and ongoing operational expenses. In the absence of such financing, our business will likely fail. There are no assurances that we will be able to achieve further sales of our Common Stock or any other form of additional financing.

In November 2022, the Company sold 668,750 shares of restricted Common Stock to eighteen (18) individuals in a private placement at a price of $0.80 per share, for total proceeds of $535,000.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

As a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act), we are not required to provide the information called for by this Item 3.

ITEM 4. CONTROLS AND PROCEDURES.

DISCLOSURE CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures:

We conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of JulyJanuary 31, 2023.2022. This evaluation was carried out by Mr. Yip Hoi Hing Peter (“Mr. Peter Yip”), our Chief Executive Officer and Chief Financial Officer, who also serves as our principal executive officer and principal financial and accounting officer, respectively. Based upon that evaluation, Mr. Peter Yip our Chief Executive Officer and Chief Financial Officer, concluded that, as of JulyJanuary 31, 2023,2022, our disclosure controls and procedures were not effective due to the presence of material weaknesses in internal control over financial reporting.

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis.

We continue to haveManagement has identified the following material weaknesses in our internal control over financial reporting disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended Octoberwhich have caused management to conclude that, as of January 31, 2022, in that (i) the Company didour disclosure controls and procedures were not maintain a functioning independent audit committee and did not maintain an independent board; (ii) the Company had inadequateeffective: Inadequate segregation of duties; and (iii) the Company had an insufficient number of personnelduties consistent with an appropriate level of U.S. GAAP knowledge and experience and ongoing training in the application of U.S. GAAP and SEC disclosure requirements commensurate with the Company’s financial reporting requirements.control objectives.

Changes in Internal Control over Financial Reporting:

There were no changes in our internal control over financial reporting during the quarter ended JulyJanuary 31, 2023,2022, 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.

The Company is not currently subject to any legal proceedings. From time to time, the Company may become subject to litigation or proceedings in connection with its business, as either a plaintiff or defendant. There are no such pending legal proceedings to which the Company is a party that, in the opinion of management, is likely to have a material adverse effect on the Company’s business, financial condition or results of operations.

ITEM 1A. RISK FACTORS

As a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act), we are not required to provide the information called for by this Item 1A.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. MINE SAFETY DISCLOSURES.

None.

ITEM 5. OTHER INFORMATION.

None.

ITEM 6. EXHIBITS.

(a) Exhibits required by Item 601 of Regulation SK.

* Filed herewith.

** XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.