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

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

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

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

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

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐oNo ☒x

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: ~~21,235,100~~31,089,757 as of ~~August 11, 2020.~~ April 25, 2021.

Financial Statements

~~ITEM 1. Financial Statements~~of

ELVICTOR GROUP, INC.

~~ELVICTOR GROUP, INC.~~

(formerly Thenablers, Inc)

~~For the Six Months Ended June 30, 2020~~

For the Three Months Ended March 31, 2021

~~-1-~~- 1 -

Table of Contents

ELVICTOR GROUP, INC
(formerly Thenablers, Inc.)

TABLE OF CONTENTS – FINANCIAL STATEMENTS

Financial Statements

Unaudited Balance Sheet as of ~~June 30, 2020~~March 31, 2021 and December 31, ~~2019~~2020		3F-3

Unaudited Statements of Operations for the three ~~and six~~ months ended ~~June 30,~~March 31, 2021, and March 31, 2020 ~~and June 30, 2019~~		4F-4

Unaudited Statements of Cash Flows for the ~~six~~three months ended ~~June 30,~~March 31, 2021 and March 31, 2020 ~~and June 30, 2019~~		5F-5

Unaudited Statements of Changes in Shareholder’s Equity for the three ~~and six~~ months ended ~~June 30,~~March 31, 2021 and March 31, 2020 ~~and June 30, 2019~~		6F-6

Notes to the Unaudited Financial Statements		~~7-17~~F-7 to F-18

~~-2-~~F-2

Table of Contents

ELVICTOR GROUP, INC

Unaudited Consolidated Balance Sheet

ASSETS	June 30, 2020			December 31, 2019			March 31, 2021			December, 31, 2020
Current Assets
Cash	$	39,615			24,359		$	407,445			343,804
Accounts Receivable								443,178			258,990
Other Receivables - Related Party								48,600			—
Value added tax (VAT) Receivable								2,183			2,183
Total Current Assets		39,615			24,359			901,406			604,977

Long-term Assets
ROU Asset - Related Party								54,693			70,214
Total Long-term Assets								54,693			70,214

Total Assets	$	39,615			24,359		$	956,099			675,191

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts Payable	$	10,791			5,500		$	71,215			11,988
Accrued Payroll		19,935			1,935
Trade Accounts Payable								129,343			63,231
Trade Accounts Payable - Related Party								36,606			22,538
Other Payables								174,751			156,308
Convertible Notes - net of discount								—			405,725
Lease Liability - Related Party								54,693			70,214
Income Tax Payable								3,079			1,246
Due to related party		1,448			163			1,798			1,798
Total Liabilities		32,174			7,598
Total Current Liabilities								471,485			733,048

Stockholders’ Equity
Common stock, par value $0.0001; 200,000,000 common shares authorized; 21,235,100 and 20,781,700 common shares issued and outstanding at June 30, 2020 and December 31, 2019 respectively	$	2,124			2,078
Preferred stock, par value $0.0001; 100,000,000 preferred shares authorized; 80,000,000 preferred shares issued and outstanding at June 30, 2020 and December 31, 2019 respectively	$	8,000			8,000
Common stock, par value $0.0001; 200,000,000 common shares authorized; 31,089,757 and 26,384,673 common shares issued and outstanding at March 31, 2021 and December 31, 2020 respectively							$	3,109			2,637
Preferred stock, par value $0.0001; 100,000,000 preferred shares authorized; 80,000,000 preferred shares issued and outstanding at March 31, 2021 and December 31, 2020 respectively							$	8,000			8,000
Additional paid in capital	$	437,635			210,980		$	1,684,734			1,167,646
Accumulated deficit		(440,318	)		(204,297	)		(1,211,229	)		(1,236,140	)
Total Stockholders’ Equity		7,441			16,761			484,614			(57,857	)

Total Liabilities and Stockholders’ Equity	$	39,615			24,359		$	956,099			675,191

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

~~-3-~~F-3

Table of Contents

ELVICTOR GROUP, INC

Unaudited Consolidated Statement of Operations

For the Three Months Ended June 30, For the Six Months Ended June 30,
2020 2019 2020 2019

Revenue - Related party $ —   —   $ —   473
Operating expenses
Professional fees 89,069 8,000 170,305 16,000
Professional fees – Related Party 6,000 —   11,460 —
Salaries - Officers 9,000 —   18,000 —
Other general and administrative costs 21,801 13,592 36,256 27,190

Total operating expenses 125,870 21,592 236,021 43,190

Loss from operations (125,870 ) (21,592 ) (236,021 ) (43,190 )

Net loss $ (125,870 ) (21,592 ) $ (236,021 ) (43,190 )

Net Loss Per Common Stock
- basic and fully diluted $ (0,00 ) (0,00 ) $ (0,00 ) (0,00 )
Weighted-average number of
shares of common stock outstanding
- basic and fully diluted 20,588,282 20,603,788 21,117,512 20,580,374

	For the Three Months Ended March 31, 2021		For the Three Months Ended March 31, 2020
Gross Revenue	$	496,492	$	—
Net Revenue		59,738		—
Total Revenue		556,230		—
Less: Cost of Revenue		118,337		—
Cost of Revenue - Related Party		175,278
Gross Profit		262,615		—
Operating expenses
Professional fees		95,569		81,236
Professional fees - Related Party		8,000		5,460
Salaries - Officers		93,024		9,000
Rent -Related Party		18,283		—
Other general and administrative costs		27,821		14,455

Total operating expenses		242,697		110,151

Gain/(Loss) from operations		19,918		(110,151	)

Other Income		6,826		—

Net profit/(loss) before income tax	$	26,744	$	(110,151	)

Provision for income taxes (benefit)		1,832		—

Net profit/(loss)	$	24,912	$	(110,151	)

Net Profit/(Loss) Per Common Stock - basic and fully diluted	$	0.00	$	0.00
Weighted-average number of shares of common stock outstanding - basic and fully diluted		29,432,209		21,057,342

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

~~-4-~~F-4

Table of Contents

ELVICTOR GROUP, INC

Unaudited Consolidated Statement of Cash Flows

	For the Six Months Ended June 30,
	2020			2019			For the Three Months Ended March 31, 2021			For the Three Months Ended March 31, 2020
Cash Flows from Operating Activities
Net loss for the period	$	(236,021	)		(42,717	)
Net profit (loss) for the period							$	24,911		$	(110,151	)

Changes in assets and liabilities
Accounts Receivable - Related Party		—			3,000
Short-term Loan		—			4,000
Accounts Receivable								(184,187	)		—
Other Receivables - Related Party								(48,600	)		—
Accounts Payable		5,291			(2,670	)		59,227			702
Trade Accounts Payable								66,112			—
Trade Accounts Payable - Related Party								14,068			—
Other Payables								18,445			—
Income Tax Payable								1,832			—
Accrued Payroll		18,000			—			—			9,000
Shares issued for services		12,500			1,250

Net cash used in operating activities		(200,230	)		(37,137	)	$	(48,192	)	$	(100,449	)

Cash Flows from Investing Activities		—			—		$	—		$	—

Cash Flows from Financing Activities
Cash (Used) or provided by:
Due to related party		1,285			2,364			—			2,126
Sale of common stock		214,200			25,000			111,833			207,200
Subscription Receivable		—			4,141			—			(10,000	)
Net cash provided by financing activities	$	215,485			31,505		$	111,833		$	199,326

Increase (Decrease) in Cash		15,255			(5,632	)		63,641			98,877

Increase in Cash
Cash at beginning of period		24,360			24,494			343,804			24,360
Cash at end of period	$	39,615			18,862		$	407,445		$	123,237

Supplemental Cash Flow Information:
Cash paid for:
Income Taxes								1,832		$	—

Supplemental Non-Cash Investing and Financing Transactions
Common Stock issued to reduce convertible notes payable							$	405,725			—
Right-of-use assets obtained in exchange for operating lease obligations								54,693		$	—

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

~~-5-~~F-5

Table of Contents

ELVICTOR GROUP, INC

Unaudited Statement of the Changes in ~~Shareholder's~~Shareholder’s Equity

	Six Month Period Ended June 30, 2020																			Three Month Period Ended March 31, 2021
																				Common Stock				Preferred Stock				Additional Paid-in		Accumulated			Subscription			Total Shareholders’
																				Shares		Amount		Shares		Amount		Capital		Deficit			Receivable			Deficit
Balance, January 1, 2021																				$	26,384,673		2,637		80,000,000		8,000		1,167,646		(1,236,140	)		—			(57,857	)
Shares issued for cash																					1,016,665		102						111,731								111,833
Shares issued for Convertible Bonds																					3,688,419		370						405,357								405,727
Net Profit for the Three Months Ended March 31, 2021																															24,911						24,911
Balance, March 31, 2021																				$	31,089,757		3,109		80,000,000		8,000		1,684,734		(1,211,229	)		—			484,614
	Common Stock				Preferred Stock				Additional Paid-in		Accumulated			Subscription			Total Shareholders’
	Shares		Amount		Shares		Amount		Capital		Deficit			Receivable			Deficit				Three Month Period Ended March 31, 2020
Balance, January 1, 2020		20,781,700		2,078		80,000,000		8,000		210,980		(204,297	)		—			16,761		$	20,781,700		2,078		80,000,000		8,000		210,980		(204,297	)		—			16,761
Shares issued for cash		414,400		41						207,159								207,200			414,400		41						207,159								207,200
Subscription Receivable															(10,000	)		(10,000	)															(10,000	)		(10,000	)
Net Loss for the Three Months Ended March 31, 2020												(110,151	)					(110,151	)												(110,151	)					(110,151	)
Balance, March 31, 2020		21,196,100		2,120		80,000,000		8,000		418,139		(314,448	)		(10,000	)		103,811		$	21,196,100		2,120		80,000,000		8,000		418,139		(314,448	)		(10,000	)		103,811
Shares issued for cash		14,000		1						6,999								7,000
Shares issued for services		25,000		3						12,497								12,500
Subscription Receivable															10,000			10,000
Net Loss for the Six Months Ended June 30, 2020												(125,870	)					(125,870	)
Balance, June 30, 2020		21,235,100		2,124		80,000,000		8,000		437,635		(440,318	)		—			7,441

		Six Month Period Ended June 30, 2019
Balance, January 1, 2019		20,556,700		2,056						111,284		(99,554	)		(6,000	)		7,786
Subscription Receivable															6,000			6,000
Net Loss for the Three Months Ended March 31, 2019												(21,125	)					(21,125	)
Balance, March 31, 2019		20,556,700		2,056		—		—		111,284		(120,679	)		—			(7,339	)
Shares issued for cash		100,000		10						24,990								25,000
Shares issued for services		5,000		0						1,250								1,250
Subscription Receivable															(1,859	)		(1,859	)
Net Loss for the Three Months Ended June 30, 2019												(21,592	)					(21,592	)
Balance, June 30, 2019		20,661,700		2,066		—		—		137,524		(142,271	)		(1,859	)		(4,540	)

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

~~-6-~~F-6

Table of Contents

ELVICTOR GROUP, INC

(formerly Thenablers, Inc)

Notes to the Financial Statements

NOTE 1 – DESCRIPTION OF BUSINESS

Elvictor Group, Inc. formerly known as Thenablers, Inc. (“Elvictor Group, Inc.” or the “Company”) was incorporated in the State of Nevada on November 3, 2017. With the change to the Elvictor name came the addition of the brand and new team in crew management in the shipping industry. ~~"Elvictor (est.1977)~~“Elvictor (est. 1977) has been active across various value-adding activities of the shipping sector, such as ship management, technical management, crewing & crew management. This decades-long spanning experience has been distilled into the listed company Elvictor Group, Inc. a Nevada corporation, the first crew management company historically to be listed on a stock market. Its professional core of activities includes crew management, training and the creation of in-house software related to crew and ship matters, for the amelioration of all its operations, facilitating both its employees and those that depend on them. With the gradual transfer of existing business from the private entity to the public, Elvictor aims to broaden its scope of activities, expanding on to new areas, while refining the existing ones. Placing prime importance on the subject of digitalization, ~~Elvictor's~~Elvictor’s plans run parallel with the extensive use of Artificial Intelligence, through the application of Machine and Deep Learning, in concert with the integration of a wide array of cloud systems. The strategic growth of the Group on a horizontal and vertical manner throughout the shipping industry will be reinforced with technologically adept tools, containing know-how and experience. As Elvictor is set on a technologically oriented path, the Group is ideologically flexible and would be open to other avenues of international business for the successful and profitable diversification of its portfolio."”

On December 13, 2019, pursuant to the approval of a majority of the voting interests for Thenablers, Inc. (hereinafter the “Company”), the Company filed a Certificate of Amendment with the Secretary of State for Nevada to change its name from “Thenablers, Inc.” to “Elvictor Group, Inc.”, to better reflect new business interests and to further take steps to make application of a corporate action with FINRA to have the name change approved and to change the symbol of the Company to “ELVG” or such symbol that is available and approved by the officers of the Company.

Pursuant to the approval of that application to FINRA, and on February 27, 2020, the name of the Company was changed to Elvictor Group, Inc. on OTC Markets, and the symbol for trading was changed to “ELVG”.

As of July 10, 2020, the company founded a subsidiary in Vari, Greece to assist the management in facilitating the operations of the company.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING AND BENEFICIAL CONVERSION FEATURES POLICIES

Basis of Presentation

The financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US ~~dollars.~~dollars, unless indicated otherwise. The company believes that the disclosures in these financial statements are adequate and not misleading. In the opinion of management, the financial statements and notes ~~have been prepared on the same basis as the audited financial statements for the year ended December 31, 2019 and include~~contain all ~~adjustments, consisting of normal recurring~~ adjustments necessary for a fair presentation of the Company’s financial position ~~at June 30, 2020~~as of March 31, 2021 and statements of operations and cash flows for the ~~six~~three months ended ~~June 30, 2020~~March 31, 2021 and ~~2019.~~ 2020.

The accompanying financial statements reflect the application of certain significant accounting policies as described below and elsewhere in these notes to the financial statements. As of June 30, 2020,the Company’s significant accounting policies and estimates, which are detailed in the Company’s audited financial statements for the year ended December 31, 2019, have not changed.

~~-7-~~F-7

Table of Contents

ELVICTOR GROUP, INC

(formerly Thenablers, Inc)

Notes to the Financial Statements

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING AND BENEFICIAL CONVERSION FEATURES POLICIES (CONTINUED)

Principles of Consolidation

The consolidated financial statements incorporate the assets and liabilities of all entities controlled by Elvictor Group, Inc as of March 31, 2021 and the results of the controlled subsidiary for the three months then ended. Elvictor Group, Inc and its subsidiary together are referred to in this financial report as the consolidated entity. The effects of all transactions between entities in the consolidated entity are eliminated in full. The financial statements of subsidiaries are prepared for the same reporting period as the parent entity, using consistent accounting policies.

Accounting Basis

The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP”). The Company has adopted a December 31 fiscal year end.

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, revenue and expenses and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Reclassification

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

Cash and Cash EEquivalentsquiva~~lents~~

Company considers all cash on hand and in banks, certificates of deposit and other ~~highly liquid~~highly-liquid investments with maturities of three months or less, when purchased, to be cash and cash equivalents.

Accounts Receivable and Allowance for Doubtful Accounts

For the three months ended March 31, 2021 the company has operations of crew manning and training and has accounts receivable due from its customers in the shipping industry. Contracts receivable from crew manning in the shipping industry are based on contracted prices. The Company provides an allowance for doubtful collections, which is based upon a review of outstanding receivables, historical collection information, and existing economic conditions. Normal contracts receivable are due 30 days after the issuance of the invoice, normally at the month’s end. Receivables past due more than 120 days are considered delinquent and they are written off based on individual credit evaluation and specific circumstances of the customer and there is no interest charged on past due accounts.

The company has not entered into related party transactions with companies owned or subject to significant influence by management, directors, and principle shareholders. ~~The balance in accounts receivable are payable upon demand and have arisen from the provision of services based on contracts with customers.~~

The company does not have an allowance for doubtful accounts.

F-8

Table of Contents

ELVICTOR GROUP, INC

(formerly Thenablers, Inc)

Notes to the Financial Statements

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING AND BENEFICIAL CONVERSION FEATURES POLICIES (CONTINUED)

Fair Value of Financial ~~Instruments]~~Instruments

The Company’s financial instruments consist of cash and cash equivalents. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.

Beneficial Conversion Features

The company issued convertible bonds that resulted in a beneficial conversion feature. A beneficial conversion feature arises when the conversion price of a convertible instrument is below the per share fair value of the underlying stock into which it is convertible. The holder realizes a benefit to the extent of the price difference and the issuer of the convertible instrument realizes a cost based on the theory that the intrinsic value of the price difference represents an additional financing cost. See Note 8 for further discussion of the convertible notes and the embedded derivative liability.

Income Taxes

Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

~~-8-~~

~~Table of Contents~~

~~ELVICTOR GROUP, INC~~

~~(formerly Thenablers, Inc)~~

~~Notes to the Financial Statements~~

~~NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)~~

Revenue Recognition

The Company recognizes revenue in accordance with FASB ASC 606 upon the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Revenue recognized from contracts with customers is disclosed separately from other sources of revenue. ASC 606 includes guidance on when revenue should be recognized on a Gross (Principal) or Net (Agent) basis. ASC 6060 includes guidance

Most of the Company’s revenues are recognized primarily under long-term contracts, including those for which revenues are based on either a fixed price, or cost-plus-fee basis, and primarily as performance obligations are satisfied. Revenue from crew manning services where Elvictor acts as a principle is recognized as gross revenue and when acting as an agent, revenue is recognized as net revenue in the accounting period in which the services are rendered. For all fixed-price contracts, revenue is recognized based on the actual service provided to the end of the reporting period. The accounting treatment for the reporting of revenues may vary materially between whether the revenue is reported on a Principal (Gross) or an Agent (Net) basis.

Stock-Based Compensation

The measurement and recognition of stock - based compensation expense is based on estimated fair values for all share-based awards made to employees and directors, including stock options and for non-employee equity transactions as per ASC 718 rules.

For transactions in which we obtain certain services of employees, directors, and consultants in exchange for an award of equity instruments, we measure the cost of the services based on the grant date fair value of the award. We recognize the cost over the vesting period.

F-9

Table of Contents

ELVICTOR GROUP, INC

(formerly Thenablers, Inc)

Notes to the Financial Statements

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING AND BENEFICIAL CONVERSION FEATURES POLICIES (CONTINUED)

Basic Income (Loss) Per Share

Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of ~~June 30, 2020~~March 31, 2021.

Recent Accounting Pronouncements

The Company ~~does not expect~~has adopted the ~~adoption of~~ recently issued accounting pronouncements ~~to have a significant impact on the Company’s results of operations, financial position or cash flow.~~

~~The~~for FASB’s new standard on accounting for leases that came into effect as of January 1, 2019 for US public companies that enter into lease arrangements or sign contracts containing leases to support their ~~business had no effect~~business.

Under ASC 842, all leases must be recognized on a company’s balance sheet. For operating leases, ASC 842 requires recognition of a right of use (ROU) asset and a corresponding lease liability upon lease commencement.

This standard has affected the financials in their presentation asthe company recognizes right-of-use (“ROU”) assets and related lease liabilities on the ~~company as they do not have any leases.~~balance sheet for all arrangements with terms longer than 12 months.

In December 2019, the FASB issued ASU 2019-12: Simplifying the Accounting for Income Taxes (Topic 740), which removes certain exceptions to the general principles in Topic 740 and improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This ASU is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years, with early adoption permitted. The Company is adopting this new accounting guidance which has resulted an interim tax payable for the foreign subsidiary.

Foreign Currency Translation

The Company considers the U.S. dollar to be its functional currency as it is the currency of the primary economic environment in which the Company operates. Accordingly, monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect at the balance sheet date and non-monetary assets and liabilities are translated at the exchange rates in effect at the time of acquisition or issue. Revenues and expenses are translated at rates approximating the exchange rates in effect at the time of the transactions. All exchange gains and losses are included in operations.

Subsequent Events

The Company has analyzed the transactions from ~~June 30, 2020~~March 31, 2021 to the date these financial statements were issued for subsequent event disclosure purposes.

On April 8, 2021, the Company issued exactly 395,220,000 shares of common stock to the holders of the Series A Preferred Stock pursuant to the Settlement Agreement, dated July 7, 2020. Specifically, exactly 230,723,789 shares of restricted common stock were issued to Mr. Konstantinos Galanakis and 164,396 shares of restricted common stock were issued to Mr. Stavros Galanakis. As a result, there are no shares of Series A Preferred Stock issued and outstanding.

~~-9-~~F-10

Table of Contents

ELVICTOR GROUP, INC

(formerly Thenablers, Inc)

Notes to the Financial Statements

NOTE 3 – GOING CONCERN

The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplates the continuation of the Company as a going concern. The Company had ~~no revenues~~$0 in revenue for the ~~six~~three months ended ~~June 30,~~March 31, 2020 ~~but had~~and revenues of ~~$473~~$556,230 for the ~~six~~three months ended ~~June 30, 2019.~~March 31, 2021. The Company has begun its crew manning operations and currently has ~~limited~~sufficient working capital ~~and~~but is continuing its efforts to establish a stabilized source of revenues ~~sufficient~~ to cover operating costs over an extended period of time.

Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

NOTE 4 – DUE TO RELATED PARTY

During the period from November 3, 2017 to December 31, 2019, Mr. Panagiotis Lazaretos, the then Company’s Director and Chief International Development Officer, Mr. Panagiotis Tolis, the Company’s Director and Chief Investment Relations Officer, , Mr. Theofylaktos P. Oikonomou, the Company’s CFO and Mr. Eleftherios Kontos, have periodically advanced the Company funds as unsecured obligations. The funds were used to pay travel and operating expenses of the Company. The obligations bear no interest, have no fixed term, and are not evidenced by any written agreement. The amounts due to related parties were forgiven by the respective related parties as of September 30, 2019.

During the ~~quarter~~three months ended ~~June 30, 2020,~~March 31, 2021, Mr. Stavros Galanakis, the company’s president, Mr. Konstantinos Galanakis, the company’s Director and Chief Executive Officer, Mr. Panagiotis Tolis, the Company’s Director and Chief Investment Relations Officer and Mr. Theofylaktos P. Oikonomou, the Company’s CFO had advanced the Company funds as unsecured obligations. The funds were used to pay travel and operating expenses on behalf of the Company. The obligations bear no interest, have no fixed term, and are not evidenced by any written agreement.

Additionally, the company formed a subsidiary in Vari, Greece and the Mrs. Aikaterini Galanakis, wife of Stavros Galanakis, is the owner of the building where the company leases its office and due to her is the rent as of March 31, 2021. Mr. Alexander Galanakis, the son of Stavros Galanakis, has advanced he subsidiary company funds for operations.

As of ~~June 30, 2020,~~March 31, 2021, the balance in due to related party is ~~$1,448.~~$1,798.

NOTE 5 – ACCOUNTS RECEIVABLE

~~During~~Trade receivables are amounts due from customers for goods sold or services performed in the ~~past year~~ordinary course of business.

As of March 31, 2021, the company ~~had~~has trade accounts receivable of ~~$3,000 due~~$443,178.

The company has a Value added tax (VAT) receivable in the amount of $2,183 as of March 31, 2021

The company also had Other Receivables – Related Party of $48,600.

F-11

Table of Contents

ELVICTOR GROUP, INC

(formerly Thenablers, Inc)

Notes to the Financial Statements

NOTE 6 – OTHER RECEIVABLES

As of February 1, 2021 the company has other receivables from ~~related party, Thenablers~~Elvictor Crew Management Ltd Cyprus, ~~derived~~related party. These other receivables originate from the ~~commission agreement signed on May 7, 2018~~new customer Salmar Shipping Ltd that had prepaid amounts to Elvictor Crew Management Ltd Cyprus for ~~sales and marketing assistance. The full amount has been paid and~~their shipping contracts which were terminated as of ~~December~~January 31, ~~2019 and there are no further receivables.~~2021. The customer Salmar shipping Ltd then signed new contracts with the company on February 1, 2021.

NOTE 67 – RELATED PARTY TRANSACTIONS

On December 11, 2019, the Board of Directors voted to pay compensation to the then Chief Financial Officer, Mr. Thodoris Chouliaras, in the form of professional fees, the amount of $2,000 per month, retroactively from November 1, 2019 and paid bi-weekly. Mr. Chouliaras resigned on January 18, 2020. The total amount of $6,010 has been paid to him as of March 31, 2020.

On January 21, 2020, Mr. Theofylaktos P. Oikonomou was elected as Chief Financial Officer and it was agreed to continue the compensation for the CFO in the amount of $2,000 per month beginning on February 1, 2020. The total amount of ~~$9,000~~$22,000 has been accrued or paid to him as of ~~June 30, 2020.~~March 31, 2021.

As of the same board meeting of December 11, 2019 it was decided that the company would pay the Chief Operation Officer, Mr. Christodoulos Tzoutzakis and the Chief Investor Relations Officer, Mr. Panagiotis Tolis, compensation of $2000 per month for each starting on July 1, 2020. A total amount of $24,000 has been accrued in total for both and paid as of March 31, 2021.

The company has entered into an agreement in October 2020 with related party Elvictor Crew Management Services Ltd in Cyprus to provide consultancy services as well as to perform the running and management of the Company’s contracts with third parties and provide key personnel for these services. The A total amount of $169,558 has been accrued for the related party Elvictor Crew Management Services Ltd are as of March 31, 2021 as Cost of Services Sold.

NOTE 8 – LEASES

As of March 31, 2021, the company has entered into one rental lease agreement for its subsidiary in Vari, Greece. The term of the lease is from July 10, 2020 to December 31, 2020 with a fixed monthly rental payment.

Lease Operating Expense is as follows:

For the three months ended March 31, 2021 $18,088.

Because we generally do not have access to the rate implicit in the lease, we utilize our incremental borrowing rate as the discount rate. As of March 31, 2021, the discount rate was 2.95%.

The Operating Lease Liabilities are as follows:

Three Months Ended For the Year Ended Total Undiscounted Total Operating
December 31, 2020 December 31, 2021 Payments Less: Interest Lease Liabilities
$18,033 $31,321 $49,354 $5,339 $54,693
The ROU Asset is as follows:
Three Months Ended For the Year Ended Total Undiscounted Total Operating
December 31, 2020 December 31, 2021 Payments Less: Interest Lease Liabilities
$18,033 $31,321 $49,354 $5,339 $54,693
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Table of Contents
ELVICTOR GROUP, INC
(formerly Thenablers, Inc)
Notes to the Financial Statements
NOTE 79 – CONVERTIBLE NOTES PAYABLE
From October to December 2020, the Company entered into subordinated convertible notes with various investors, whereby the Company borrowed $405,725. The funds were all received in 2020 and had maturity dates three months from their respective issuance dates with no interest accruing throughout the term of the notes. The convertible notes were convertible at a fixed conversion price of $0.11 and the principal amount of the convertible notes was payable at the Company’s option in stock, by requiring the holders to convert their convertible notes into shares of the Company’s common stock, automatically at a) the end of the three months or b) the company issues certain dividends in the form of common stock to existing shareholders.
In February 2021, the carrying value of the convertible notes was converted into shares of common stock and therefore, the balance in convertible bonds is zero as March 31, 2021.
NOTE 10 - OTHER PAYABLES
As part of one of the services in the manning of a crew provided by the company to the shipping companies is that the company makes the bank transfers of the wages to the crew, on the customer ’s behalf. The shipping companies transfer the funds to the company’s bank account and then the company makes each payment to indicated crew. In its capacity, the company will show the balance of the funds received and not yet transferred to the crew as Other Payables on the Balance Sheet. The amount of Other Payables for crew wages is $70,681 as of March 31, 2021.
The balance in Other Payables also consist of $79,628 in Other Creditors and $24,442 in Payroll and Sales Tax Payable as of March 31, 2021.
NOTE 11 – COMMON STOCK

Issuance of Common Stock

The Company has 200,000,000, $0.0001 par value shares of common stock authorized. At ~~June 30,~~December 31, 2020 and December 31, 2019 there were ~~21,235,100~~26,384,673 and 20,781,700 common shares issued and outstanding, respectively.

The Company issued 20,000,000 to its founders valued at $2000 ($0.0001 per share).
~~On January 15,~~For the year ended 2018, the Company issued ~~10,000~~a total of 492,700 shares of common stock ~~to Prodromos Nikolaidis~~ for cash proceeds of ~~$2,000.00~~$98,540.00 at $0.20 per share.

~~On January 15,~~For the year ended 2018, the Company issued ~~10,000~~a total of 64,000 shares of common stock ~~to Stavros Nikolaidis~~for services rendered of $12,800.00 at fair market value of $0.20 per share.
For the year 2019, the Company issued a total of 120,000 shares of common stock for cash proceeds of ~~$2,000.00~~$25,000.00 at ~~$0.20~~$0.25 per share.
For the year 2019, the Company issued a total of 105,000 shares of common stock for services rendered of $26,250.00 at fair market value of $0.25 per share.
For the year ended 2020, the Company issued a total of 428,400 shares of common stock for cash proceeds of $214,200.00 at $0.50 per share.
F-13
Table of Contents
ELVICTOR GROUP, INC
(formerly Thenablers, Inc)
Notes to the Financial Statements
NOTE 11 – COMMON STOCK (CONTINUED)
For the year ended 2020, the Company issued a total of 25,000 shares of common stock services rendered of $12,500 at fair market value of $0.50 per share.
For the year ended 2020, the Company issued a total of 487,273 shares of common stock for services rendered of $53,600.00 at fair market value of $0.11 per share.

On January ~~17, 2018,~~1, 2021, the Company issued ~~25,000~~227,273 shares of common stock to ~~Anargyros Vasilakos~~Jamal Nakhleh for cash proceeds of ~~$5,000.00~~$25,000.03 at ~~$0.20~~$0.11 per share.

On January ~~18, 2018,~~20, 2021, the Company issued ~~10,000 shares of common stock to Alexandros Koukas for cash proceeds of $2,000.00 at $0.20 per share.~~
~~On January 29, 2018, the Company issued 15,000 shares of common stock to Georgios Kapaniris for cash proceeds of $3,000.00 at $0.20 per share.~~
~~On February 9, 2018, the Company issued 10,000 shares of common stock to Marina Brisimi for cash proceeds of $2,000.00 at $0.20 per share.~~
~~On February 9, 2018, the Company issued 10,000 shares of common stock to Evangelos Brisimis for cash proceeds of $2,000.00 at $0.20 per share.~~
~~On February 9, 2018, the Company issued 15,000 shares of common stock to Dessislav Krumov Djarkov for cash proceeds of $3,000.00 at $0.20 per share.~~
~~On February 12, 2018, the Company issued 50,000~~90,909 shares of common stock to Athanasios Tolis for cash proceeds of ~~$10,000.00~~$9,999.99 at ~~$0.20~~$0.11 per share.
On January 25, 2021, the Company issued 163,636 shares of common stock to Alexandros Lampoglou for cash proceeds of $17,999.96 at $0.11 per share.
On January 25, 2021, the Company issued 45,491 shares of common stock to Konstantinos Lampoglou for cash proceeds of $5,004.01 at $0.11 per share.
On January 25, 2021, the Company issued 45,455 shares of common stock to Konstantinos Pournaras for cash proceeds of $5,000.05 at $0.11 per share.
On January 27, 2021, the Company issued 45,455 shares of common stock to Maria Chatzinikolaki for cash proceeds of $5,000.05 at $0.11 per share.
On January 27, 2021, the Company issued 45,455 shares of common stock to Elisavet Chatzinikolaki for cash proceeds of $5,000.05 at $0.11 per share.
On January 29, 2021, the Company issued 54,000 shares of common stock to Nikolaos Togkas-Fifis for cash proceeds of $5,940.00 at $0.11 per share.
On January 29, 2021, the Company issued 56,363 shares of common stock to Andreas Michailidis for cash proceeds of $6,199.93 at $0.11 per share.
On January 29, 2021, the Company issued 197,173 shares of common stock to Charis Mylonas for cash proceeds of $21,689.03 at $0.11 per share.
On January 29, 2021, the Company issued 45,455 shares of common stock to Georgios Kyriazopoulos for cash proceeds of $5,000.05 at $0.11 per share.

On February ~~14, 2018,~~5, 2021, the Company issued ~~10,000~~547,273 shares of common stock to ~~George Mengos~~Seatrix S.A. for ~~cash proceeds~~convertible notes payable of ~~$2,000.00~~$60,200.00 at ~~$0.20~~$0.1103 per share.

On February ~~19, 2018,~~5, 2021, the Company issued ~~15,000~~90,910 shares of common stock to ~~Nektarios Tzortzoglou~~Gia Asambadze for ~~cash proceeds~~convertible notes payable of ~~$3,000.00~~$10,000.00 at ~~$0.20~~$0.1103 per share.

On February ~~19, 2018,~~5, 2021, the Company issued ~~10,000~~90,910 shares of common stock to ~~Vilelmini Fatourou~~Nodar Goguadze for ~~cash proceeds~~convertible notes payable of ~~$2,000.00~~$10,000.00 at ~~$0.20~~$0.1103 per share.

On February 5, 2021, the Company issued shares of 90,910 common stock to Irakli Serjveladze for convertible notes payable of $10,000.00 at $0.1103 per share.
~~-11-~~F-14
Table of Contents
ELVICTOR GROUP, INC
(formerly Thenablers, Inc)
Notes to the Financial Statements
NOTE 711 – COMMON STOCK (CONTINUED)

On February ~~22, 2018,~~5, 2021, the Company issued ~~10,000~~263,637 shares of common stock to ~~Dogan Omer Ozyigit~~Dimitrios Fountoulakis for ~~cash proceeds~~convertible notes payable of ~~$2,000.00~~$29,000.00 at ~~$0.20~~$0.1103 per share.

On February ~~28, 2018,~~5, 2021, the Company issued ~~10,000~~104,546 shares of common stock to ~~Robert Brown~~Grigorios Koutsoliakos for ~~cash proceeds~~convertible notes payable of ~~$2,000.00~~$11,500.00 at ~~$0.20~~$0.1103 per share.

On ~~March 1, 2018,~~February 5, 2021, the Company issued ~~16,000~~90,910 shares of common stock to ~~Dragon Ventures Management, Inc.~~Christos Asimakopoulos for ~~services rendered~~convertible notes payable of ~~$3,200.00~~$10,000.00 at ~~fair market value of $0.20~~$0.1103 per share.

On ~~March 1, 2018,~~February 5, 2021, the Company issued ~~16,000~~570,319 shares of common stock to ~~GMPraxis Inc.~~Vasileios Karalis for ~~services rendered~~convertible notes payable of ~~$3,200.00~~$62,735.00 at ~~fair market value of $0.20~~$0.1103 per share.

On ~~March 1, 2018,~~February 5, 2021, the Company issued ~~16,000~~73,000 shares of common stock to ~~Field Insights CEE, SRL Inc.~~Marinos Vourgos for ~~services rendered~~convertible notes payable of ~~$3,200.00~~$8,030.00 at ~~fair market value of $0.20~~$0.1103 per share.

On ~~March~~February 5, ~~2018,~~2021, the Company issued ~~10,000~~73,000 shares of common stock to ~~First Call Holding Cyprus~~Anna Vourgou for ~~cash proceeds~~convertible notes payable of ~~$2,000.00~~$8,030.00 at ~~$0.20~~$0.1103 per share.

On ~~March~~February 5, ~~2018,~~2021, the Company issued ~~11,700~~45,455 shares of common stock to ~~Efthymia Lioulia~~Maghar Gandhi for ~~cash proceeds~~convertible notes payable of ~~$2,340.00~~$5,000.00 at ~~$0.20~~$0.1103 per share.

On ~~March 8, 2018,~~February 5, 2021, the Company issued ~~10,000~~454,546 shares of common stock to ~~Donald Ruan~~Load Line Marine S.A. for ~~cash proceeds~~convertible notes payable of ~~$2,000.00~~$50,000.00 at ~~$0.20~~$0.1103 per share.

On ~~March 9, 2018,~~February 5, 2021, the Company issued ~~10,000~~373,637 shares of common stock to ~~Peter Brown~~Theofanis Anastasiadis for ~~cash proceeds~~convertible notes payable of ~~$2,000.00~~$41,100.00 at ~~$0.20~~$0.1103 per share.

On ~~March 12, 2018,~~February 5, 2021, the Company issued ~~10,000~~86,637 shares of common stock to ~~Predica Constanta~~Sotirios Moundreas for ~~cash proceeds~~convertible notes payable of ~~$2,000.00~~$9,530.00 at ~~$0.20~~$0.1103 per share.

On ~~March 23, 2018,~~February 5, 2021, the Company issued ~~10,000~~218,182 shares of common stock to ~~Patricia Franco~~Jasper Daan Willem Heikens for ~~cash proceeds~~convertible notes payable of ~~$2,000.00~~$24,000.00 at ~~$0.20~~$0.1103 per share.

On ~~March 23, 2018, the Company issued 25,000 shares of common stock to Filippo Giacomo for cash proceeds of $5,000.00 at $0.20 per share.~~
~~On March 26, 2018, the Company issued 10,000 shares of common stock to Renee Deschaine for cash proceeds of $2,000.00 at $0.20 per share.~~
~~On March 28, 2018, the Company issued 12,500 shares of common stock to Konstantinos Piperas for cash proceeds of $2,500.00 at $0.20 per share.~~
~~On March 28, 2018, the Company issued 16,000 shares of common stock to CEO Medya Pazarlama Ve Ajans Hizmetleri, Ltd. for services rendered of $3,200.00 at fair market value of $0.20 per share.~~
~~On March 30, 2018, the Company issued 10,000 shares of common stock to William Bartels for cash proceeds of $2,000.00 at $0.20 per share.~~
~~-12-~~
~~Table of Contents~~
~~ELVICTOR GROUP, INC~~
~~(formerly Thenablers, Inc)~~
~~Notes to the Financial Statements~~
~~NOTE 7 – COMMON STOCK (CONTINUED)~~
~~On April 2, 2018, the Company issued 25,000 shares of common stock to Mehmet Metin Yilmaz for cash proceeds of $5,000.00 at $0.20 per share.~~
~~On April 3, 2018, the Company issued 10,000 shares of common stock to George Sakoulas for cash proceeds of $2,000.00 at $0.20 per share.~~
~~On April 4, 2018, the Company issued 32,000 shares of common stock to Spar PTY Ltd for cash proceeds of $6,400.00 at $0.20 per share.~~
~~On April 4, 2018, the Company issued 24,000 shares of common stock to Floor Graphics BG Ltd for cash proceeds of $4,800.00 at $0.20 per share.~~
~~On April 10 30, 2018, the Company issued 25,000 shares of common stock to Michael Stefanidis for cash proceeds of $5,000.00 at $0.20 per share.~~
~~On April 11, 2018, the Company issued 12,500 shares of common stock to Ilias Bouzalas for cash proceeds of $2,500.00 at $0.20 per share.~~
~~On April 23, 2018, the Company issued 10,000 shares of common stock to Kimberly Villani for cash proceeds of $2,000.00 at $0.20 per share.~~
~~On April 23, 2018, the Company issued 25,000 shares of common stock to James Daniel Williams for cash proceeds of $5,000.00 at $0.20 per share.~~
~~On May 1, 2019, the Company issued 5,000 shares of common stock to Theodore Giamias for services rendered of $1,250.00 at fair market value of $0.25 per share.~~
~~On May 20, 2019, the Company issued 40,000 shares of common stock to Panagiotis Avramidis for cash proceeds of $10,000.00 at $0.25 per share.~~
~~On May 20, 2019, the Company issued 20,000 shares of common stock to Savvas Dimopoulos for cash proceeds of $5,000.00 at $0.25 per share.~~
~~On May 22, 2019, the Company issued 20,000 shares of common stock to Anargyris Vasilakos for cash proceeds of $5,000.00 at $0.25 per share.~~
~~On May 29, 2019, the Company issued 20,000 shares of common stock to Dimitrios Agapitos for cash proceeds of $5,000.00 at $0.25 per share.~~
~~On July 10, 2019, the Company issued 20,000 shares of common stock to Nikolaos Zavras for cash proceeds of $5,000.00 at $0.25 per share~~
~~On October 7, 2019, the Company issued 100,000 shares of common stock to Eilers Law Group, P.A. for services rendered of $25,000.00 at fair market value of $0.25 per share~~
~~On January 9, 2020,~~February 5, 2021, the Company issued 60,000 shares of common stock to Georgios Tzevachiridis for ~~cash proceeds~~convertible notes payable of ~~$30,000~~$6,600.00 at ~~fair market value of $0.50~~$0.1103 per ~~share~~share.

On February 5, 2021, the Company issued 45,455 shares of common stock to Elisavet Zichna for convertible notes payable of $5,000.00 at $0.1103 per share.
On February 5, 2021, the Company issued 318,182 shares of common stock to Ioannis Aloupis for convertible notes payable of $35,000.00 at $0.1103 per share.
On February 5, 2021, the Company issued 90,910 shares of common stock to SQ Learn for convertible notes payable of $10,000.00 at $0.1103 per share.
~~-13-~~F-15
Table of Contents
ELVICTOR GROUP, INC
(formerly Thenablers, Inc)
Notes to the Financial Statements
NOTE 711 – COMMON STOCK (CONTINUED)

~~On January 13, 2020, the Company issued 16,000 shares of common stock to Georgios Kaloritis for cash proceeds of $8,000 at fair market value of $0.50 per share~~
~~On January 14, 2020, the Company issued 4,000 shares of common stock to Georgios Maschonas for cash proceeds of $2,000 at fair market value of $0.50 per share~~
~~On January 16, 2020, the Company issued 4,200 shares of common stock to Grigorios Koutsoliakos for cash proceeds of $2,100 at fair market value of $0.50 per share~~
~~On January 16, 2020, the Company issued 5,000 shares of common stock to Georgios Galanakis for cash proceeds of $2,500 at fair market value of $0.50 per share~~
~~On January 16, 2020, the Company issued 5,000 shares of common stock to Alexandros Galanakis for cash proceeds of $2,500 at fair market value of $0.50 per share~~
~~On January 17, 2020, the Company issued 4,000 shares of common stock to Dimitrios Kalosakas for cash proceeds of $2,000 at fair market value of $0.50 per share~~
~~On January 17, 2020, the Company issued 6,000 shares of common stock to Alexandros Ntoutsoulis for cash proceeds of $3,000 at fair market value of $0.50 per share~~
~~On January 20, 2020, the Company issued 20,000 shares of common stock to Chkhaidze Soslan for cash proceeds of $10,000 at fair market value of $0.50 per share~~
~~On January 20, 2020, the Company issued 10,000 shares of common stock to Aikaterini Pagoni for cash proceeds of $5,000 at fair market value of $0.50 per share~~
~~On January 21, 2020, the Company issued 10,000 shares of common stock to Christos Soultatis for cash proceeds of $5,000 at fair market value of $0.50 per share~~
~~On January 21, 2020, the Company issued 10,000 shares of common stock to Vasileios Iliopoulos for cash proceeds of $5,000 at fair market value of $0.50 per share~~
~~On January 22, 2020, the Company issued 50,000 shares of common stock to Maria Petraki for cash proceeds of $25,000 at fair market value of $0.50 per share~~
~~On January 27, 2020, the Company issued 50,000 shares of common stock to Loukas Moschos for cash proceeds of $25,000 at fair market value of $0.50 per share~~
~~On January 27, 2020, the Company issued 4,000 shares of common stock to Foteini Chalamandari for cash proceeds of $2,000 at fair market value of $0.50 per share~~
~~On January 31, 2020, the Company issued 4,200 shares of common stock to Areti Magaliou for cash proceeds of $2,100 at fair market value of $0.50 per share~~
~~On February 3, 2020, the Company issued 50,000 shares of common stock to Georgios Siderakis for cash proceeds of $25,000 at fair market value of $ per share~~
~~-14-~~
~~Table of Contents~~
~~ELVICTOR GROUP, INC~~
~~(formerly Thenablers, Inc)~~
~~Notes to the Financial Statements~~
~~NOTE 7 – COMMON STOCK (CONTINUED)~~
~~On February 4, 2020, the Company issued 10,000 shares of common stock to Athanasios Malliaros for cash proceeds of $5,000 at fair market value of $0.50 per share~~
~~On February 5, 2020, the Company issued 10,000 shares of common stock to Branko Krznaric for cash proceeds of $5,000 at fair market value of $0.50 per share~~
~~On February 5, 2020, the Company issued 10,000 shares of common stock to Pantelis Dimitroglou for cash proceeds of $5,000 at fair market value of $0.50 per share~~
~~On February 10, 2020, the Company issued 10,000 shares of common stock to Konstantinos Papagalos for cash proceeds of $5,000 at fair market value of $0.50 per share~~
~~On February 24, 2020, the Company issued 20,000 shares of common stock to Antonios Bitounis for cash proceeds of $10,000 at fair market value of $0.50 per share~~
~~On March 17, 2020, the Company issued 6,000 shares of common stock to Nicoletta Ashiotou for cash proceeds of $3,000 at fair market value of $0.50 per share~~
~~On March 20, 2020, the Company issued 10,000 shares of common stock to Christakis Komodromos for cash proceeds of $5,000 at fair market value of $0.50 per share~~
~~On March 20, 2020, the Company issued 6,000 shares of common stock to Pavlina Kattiki Assiotou for cash proceeds of $3,000 at fair market value of $0.50 per share~~
~~On March 23, 2020, the Company issued 20,000 shares of common stock to Kleon Manakidis for cash proceeds of $10,000 at fair market value of $0.50 per share~~
~~On April 1, 2020, the Company issued 14,000 shares of common stock to Anargyros Vasilakos for cash proceeds of $7,000 at fair market value of $0.50 per share~~
~~On April 28, 2020, the Company issued 25,000 shares of common stock to Eilers Law Group, P.A. for services rendered of $12,500 at fair market value of $0.50 per share~~
~~At June 30, 2020 and December 31, 2019 there were 80,000,000 Preferred shares issued and outstanding.~~
~~-15-~~
~~Table of Contents~~
~~ELVICTOR GROUP, INC~~
~~(formerly Thenablers, Inc)~~
~~Notes to the Financial Statements~~
~~NOTE 7 – COMMON STOCK (CONTINUED)~~
Issuance of Preferred Stock
On October 7, 2019, Elvictor Group, Inc. entered into four separate “Series A Convertible Preferred Stock Purchase Agreements” for exactly 80,000,000 shares of a newly designated Series A Preferred Stock, in exchange for an aggregate purchase price of $30,000.00 pursuant to Regulation S of the Securities Act of 1933, as amended. Per the terms of the Agreements, these shares may not be converted for one year after they are issued and shall automatically convert exactly 18 months after the issuance of each share into a number of shares of Common Stock to be determined based on the Company’s performance. The holders of Series A Preferred Stock shall be entitled to vote with the shares of the Company’s Common Stock on any vote in which holders of the Common Stock are entitled to vote and shall have voting rights equal to exactly one vote per share of Series A Preferred Stock. The stocks were issued to:

On October 7, 2019, the Company issued 24,000,000 shares of preferred stock to Aikaterini ~~Galanaki~~Galanakis for cash proceeds of $6,600.00 at 0.000375 per ~~share~~share.

On October 7, 2019, the Company issued 28,000,000 shares of preferred stock to Konstantinos Galanakis for cash proceeds of $7,700.00 at 0.000375 per ~~share~~share.

On October 7, 2019, the Company issued 27,800,000 shares of preferred stock to Stavros Galanakis for cash proceeds of $7,645.00 at 0.000375 per ~~share~~share.

On October 7, 2019, the Company issued 200,000 shares of preferred stock to Theodoros Chouliaras for cash proceeds of $55.00 at 0.000375 per share.
Issuance of Dividends
On December 14, 2020, the Company issued 4,662,300 shares of common stock as dividends to the shareholders on record excluding the founders of the Company who have agreed to waive their rights to this dividend. The authorized dividend was 3 shares of common capital stock for each one share of common stock held of the effective on record date of August 5, 2020 at the fair market value of $0.1250 per share.

NOTE 812 – CHANGES IN EQUITY
For the year beginning January 1, 2021 the company had a shareholders’ deficit balance of $57,857. With the sale of 1,016,665 shares of common stock for a value of $111,833, and the issuance of 3,688,419 shares of common stock to reduce convertible notes of $405,727, and the net profit of $24,911 for the three months ended March 31, 2021 the ending balance in equity is $484,614 as of March 31, 2021.

For the year beginning January 1, 2020 the company had a shareholders’ deficit balance of $16,761. With the sale of ~~428,400~~414,400 shares of common stock for a value of ~~$214,200, with the issue of 25,000 shares of common stock for services for a value of $12,500,~~$207,200, the receipt of $10,000 in subscription receivables, and the net loss of ~~$236,021~~$110,151 for the ~~six~~three months ended ~~June 30,~~March 31, 2020 the ending balance in equity is ~~$7,441 as of June 30, 2020.~~
For the year beginning January 1, 2019 the company had a shareholders’ deficit balance of $7,786. With the sale of 100,000 shares of common stock for a value of $25,000, with the issue of 5,000 shares of common stock for services for a value of $1,250, the receipt of $6,000 in subscription receivables and the net loss of $42,717 for the six months ended June 30, 2019 the ending balance is a deficit of ~~$4,540~~$103,811 as of ~~June 30, 2019.~~March 31, 2020.
F-16
Table of Contents
ELVICTOR GROUP, INC
(formerly Thenablers, Inc)
Notes to the Financial Statements

NOTE 913 – COMMITMENTS AND CONTINGENCIES

The Company ~~neither owns nor leases any real or personal property. Such costs are immaterial to~~entered in a long-term rental lease agreement for offices of its subsidiary branch in Vari, Greece for the ~~financial statements and accordingly are not reflected herein. The officers and directors are involved in other business activities and most likely will become involved in other business activities~~period commencing from July 10, 2020 through December 31, 2021 in the ~~future.~~amount of $5,180 per month, the first month July was adjusted for the shortened period. The lessor is the wife of the company’s president, Mr. Stavros Galanakis.

The lease liability is included in Current liabilities on the accompanying Balance Sheet as of March 31, 2021.
~~-16-~~
~~Table of Contents~~
~~ELVICTOR GROUP, INC~~
~~(formerly Thenablers, Inc)~~
~~Notes to the Financial Statements~~
NOTE 1014 – INCOME TAXES

~~Due to the~~The Company’s has an overall net loss ~~position, there was no provision for income taxes recorded. As~~and as a result ~~of the Company’s losses to date,~~ there exists doubt as to the ultimate realization of the deferred tax assets. Accordingly, a valuation allowance equal to the total deferred tax assets has been recorded.

The components of net deferred tax assets are as follows:

June 30, June 30,
2020 2019

Net operating loss carry-forward $ 440,318 $ 142,271
Less: valuation allowance (440,318 ) (142,271 )
Net deferred tax asset $ —   $ —
March 31, March 31,
Deferred Tax Assets 2021 2020
Deferred tax assets by jurisdiction
Federal $ 1,211,229 $ 314,448
State
Foreign
Valuation Allowance (1,211,229 ) (314,448 )
Net deferred tax assets — —

Deferred tax assets by components
Net operating loss 1,211,229 314,448
Valuation Allowance (1,211,229 ) (314,448 )
Net deferred tax assets $ — $ —
F-17
Table of Contents
ELVICTOR GROUP, INC
(formerly Thenablers, Inc)
Notes to the Financial Statements
NOTE 14 – INCOME TAXES (CONTINUED)

The Company had federal net operating loss carry forwards for tax purposes of approximately ~~$142,271~~$314,448 at ~~June 30, 2019~~March 31, 2020, and approximately ~~$440,318~~$1,211,229 at ~~June 30, 2020,~~March 31, 2021, which may be available to offset future taxable income. Utilization of the net operating loss carry forwards may be subject to substantial annual limitations due to the ownership change limitations provided by Section 381 of the Internal Revenue Code of 1986, as amended. The annual limitation may result in the expiration of net operating loss carry forwards before utilization.
The provision for income taxes consists of the following:
March
31, December
31,
2021 2020
Current:
Federal $ — $ —
State — —
Foreign 1,832 1,020
Total current tax provision $ 1,832 $ 1,020
Deferred:
Federal — —
State — —
Foreign — —
Total deferred benefit — —
Total provision (benefit) for income tax $ 1,832 $ 1,020

NOTE 1115 – SUBSEQUENT EVENT

In accordance with SFAS 165 (ASC 855-10) the Company has analyzed its operations subsequent to ~~June 30, 2020~~March 31, 2021 through ~~August 13, 2020,~~May 12, 2021, the date these financial statements were issued, and has determined that the following are material subsequent events to these financial ~~statements~~.statements.

On April 8, 2021, the Company issued exactly 395,220,000 shares of common stock to the holders of the Series A Preferred Stock pursuant to the Settlement Agreement, dated July 7, 2020. Specifically, exactly 230,723,789 shares of restricted common stock were issued to Mr. Konstantinos Galanakis and 164,396, 211 shares of restricted common were issued to Mr. Stavros Galanakis. As a result, there are no shares of Series A Preferred Stock issued and outstanding.
~~-17-~~F-18
Table of Contents
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Cautionary Note Regarding Forward-Looking Information and Factors That May Affect Future Results

This quarterly report on Form 10-Q contains forward-looking statements regarding our business, financial condition, results of operations and prospects. The Securities and Exchange Commission (the “SEC”) encourages companies to disclose forward-looking information so that investors can better understand a company’s future prospects and make informed investment decisions. This quarterly report on Form 10-Q and other written and oral statements that we make from time to time contain such forward-looking statements that set out anticipated results based on management’s plans and assumptions regarding future events or performance. We have tried, wherever possible, to identify such statements by using words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “will” and similar expressions in connection with any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance or results of current and anticipated sales efforts, expenses, the outcome of contingencies, such as legal proceedings, and financial results. Factors that could cause our actual results of operations and financial condition to differ materially are set forth in the “Risk Factors” section of our Form S-1 filed with the Commission on May 5, 2018, amended and deemed effective on April 7, 2020.

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

The following discussion should be read in conjunction with our unaudited financial statements and the related notes that appear elsewhere in this quarterly report on Form 10-Q.

Business Overview
The discussion and analysis of our financial condition and results of operations are based on our financial statements, which we have prepared in accordance with accounting principles generally accepted in the United States of America. This discussion should be read in conjunction with the other sections of this Form 10-K, including “Risk Factors,” and the Financial Statements. The various sections of this discussion contain a number of forward-looking statements, all of which are based on our current expectations and could be affected by the uncertainties and risk factors described throughout this Annual Report on Form 10-K. See “Forward-Looking Statements.” Our actual results may differ materially. The preparation of these financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported revenues and expenses during the reporting periods. On an ongoing basis, we evaluate estimates and judgments, including those described in greater detail below. We base our estimates on historical experience and on various other factors that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
As used in this “Management’s Discussion and Analysis of Financial Condition and Results of Operation,” except where the context otherwise requires, the term “we,” “us,” “our,” or “the Company,” refers to the business of Elvictor Group, Inc.
- 2 -
Table of Contents
Organizational Overview

Elvictor Group, Inc. formerly known as Thenablers, Inc. (“Elvictor Group, Inc.” or the “Company”) was incorporated in the State of Nevada on November 3, 2017. On December 13, 2019, pursuant to the approval of a majority of the voting interests, the Company filed a Certificate of Amendment with the Secretary of State for Nevada to change its name from “Thenablers, Inc.” to “Elvictor Group, Inc.”, and such name change was approved by FINRA on February 27, 2020. With the change to the Elvictor name came the addition of the brand and new team in crew management in the shipping industry, including ship management, technical management, crewing, and crew management.

~~-18-~~
~~Table of Contents~~
We are currently a development stage company ~~and to date~~with minimal revenues, though we ~~have recorded no revenue.~~had a significant increase in revenues in the third quarter. Accordingly, ~~our independent registered public accountants have issued a comment regarding~~management has concluded that there is substantial doubt in our ability to continue as a going concern (please refer to the footnotes to the financial statements). As of ~~June 30,~~December 31, 2020, the Company is still unable to establish a consistent flow of revenues from our operations which is sufficient to sustain our operating needs, management intends to rely primarily upon debt financing to supplement cash flows, if any, generated by our services. We will seek out such financing as necessary to allow the Company to continue to grow our business operations, and to cover such cost, excluding professional fees, associated with being a reporting Company with the Securities and Exchange Commission ~~("SEC"~~(“SEC”)~~; we estimate such costs to be approximately $90,000.00 for 12 months following this Offering.~~.. The Company has included such costs to become a publicly reporting company in its targeted expenses for working capital expenses and intends to seek out reasonable loans from friends, family and business acquaintances if it becomes necessary. At this point we have been funded by our founders and initial shareholders and have not received any firm commitments or indications from any family, friends or business acquaintances regarding any potential investment in the Company except those shareholders listed herein.

~~Plan of Operations~~
All statements contained in this Prospectus, other than statements of historical facts, that address future activities, events or developments, are forward-looking statements, including, but not limited to, statements containing the word "believe," "anticipate," "expect" and word of similar import. These statements are based on certain assumptions and analyses made by us in light of our experience and our assessment of historical trends, current conditions and expected future developments as well as other factors we believe are appropriate under the circumstances. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected. The Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance, and that actual results may differ materially from those in the forward-looking statements. Such risks and uncertainties include, without limitation: established competitors who have substantially greater financial resources and operating histories, regulatory delays or denials, ability to compete as a start-up company in a highly competitive market, and access to sources of capital.Going Concern

The ~~following discussion and analysis should be read in conjunction with our unaudited~~accompanying financial statements ~~and notes thereto included elsewhere~~have been prepared in ~~this Prospectus. Except for~~conformity with generally accepted accounting principles, which contemplates the ~~historical information contained herein,~~continuation of the ~~discussion in this Prospectus contains certain forward-looking statements that involve risks and uncertainties, such~~Company as statements of our plans, objectives, expectations and intentions. The cautionary statements made in this Prospectus should be read as being applicable to all related forward-looking statements wherever they appear in this Prospectus. The Company's actual results could differ materially from those discussed here.
~~As of June 30, 2020, our auditors have issued a going concern opinion. We believe that we continue to be~~ a going concern. ~~This means that there is substantial doubt that we can continue as an on-going business~~The Company had revenues for the ~~next twelve~~3 months ~~unless we obtain~~ended March 31, 2021 $496,492 and $0 for the 3 months ended March 31, 2020. The Company currently has limited working capital and is continuing its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time.
Management anticipates that the Company will be dependent, for the near future, on additional investment capital to pay for our expenses. This is because we have not generated any revenues and no sales are yet possible. There is no assurance we will ever reach this point. Accordingly, we must raise sufficient capital from other sources. Our only other source for cash at this time is investments by others. We must raise cashfund operating expenses The Company intends to ~~stay in business. In response to these problems, management intends~~position itself so that it may be able to raise additional funds through ~~public or private placement offerings. At this time, however,~~the capital markets. In light of management’s efforts, there are no assurances that the Company ~~does not have plans~~will be successful in this or ~~intentions to raise additional funds by way~~any of ~~the sale of additional securities, other than pursuant to this Offering.~~its endeavors or become financially viable and continue as a going concern.

~~In order to meet business goals, we must a) execute our business line~~Results of ~~crew management; and d) continue to focus on new business development in order to acquire new agreements.~~Operations

At present, we only have enough cash on hand to maintain filing requirements with the SEC. If we do not build revenue or raise sufficient funds to proceed with the implementation of our business plan, we may have to find alternative sources of funds, like a second public offering, a private placement of securities, or loans from our officers or third parties (such as banks or other institutional lenders). Equity financing could result in additional dilution to then existing shareholders. If we are unable to meet our needs for cash from either the money that we raise from our Offering, or possible alternative sources, then we may be unable to continue to maintain, develop or expand our operations.We have no plans to undertake any product research and development during the next 12 months.
~~-19-~~
~~Table of Contents~~
~~Results of Operations~~
Revenues

For the three months ended ~~June 30,~~March 31, 2021 and March 31, 2020, ~~and June 30, 2019,~~ we generated $0$496,492 and $0 in ~~related party~~ revenues, respectively. For the six months ended June 30, 2020 and June 30, 2019, we generated $0 and $473 in related party revenues, respectively. Our decrease in revenue is due to our inability to execute the SILBERPFEIL business plan that was operated through Thenablers, Ltd.

Operating Expenses

For the three months ended ~~June 30,~~March 31, 2021 and March 31, 2020, ~~and June 30, 2019,~~ we incurred ~~$125,870~~$242,697 and ~~$21,592 in operating expenses, respectively. For the six months ended June 30, 2020 and June 30, 2019, we incurred $236,021 and $43,190~~$110,151 in operating expenses, respectively. The increase in operating expenses ~~both~~ for the three-month ~~periods and the six-month periods~~period is due primarily to professional fees, salaries, rent, and other general and administrative costs.

Net Loss

For the three months ended ~~June 30,~~March 31, 2021 and March 31, 2020, ~~and June 30, 2019,~~ we incurred a net ~~loss~~profit/(loss) of ~~$(125,870)~~$24,912 and ~~$(21,592), respectively, or $(0.00) per common share. For the six months ended June 30, 2020 and June 30, 2019, we incurred a net loss of $(236,021) and $(43,190)~~$(110,151), respectively, or $(0.00) per common share. The increase in net ~~loss~~profit is due primarily to an increase in ~~total loss from operations.~~revenues.
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Liquidity, Capital Resources, and Off-Balance Sheet Arrangements

Liquidity is the ability of an enterprise to generate adequate amounts of cash to meet its needs for cash requirements. We had available working capital ~~deficit~~ during the three months ended ~~June 30, 2020~~March 31, 2021 of ~~$7,441~~$429,921 compared to ~~$16,761~~$(128,071) for the year ended December 31, ~~2019.~~2020.

Cash flows for the ~~six~~three months ended ~~June 30, 2020.~~March 31, 2021.

Net cash flow used in operating activities was ~~$(200,230)~~$(48,192) for the ~~six~~three months ended ~~June 30, 2020,~~March 31, 2021, compared to ~~$(37,137)~~$(100,449) used in operating activities during the ~~six~~three months ended ~~June 30, 2019.~~March 31, 2020. Our net loss in cash flow was due to a net ~~loss~~profit of ~~$(236,021)~~$24,911, being offset by accounts receivable of $(184,187), other receivables – related party of $(48,600), accounts payable of ~~$5,291, accrued payroll~~$59,227, trade accounts payable of ~~$18,000,~~$66,112, trade accounts payable – related party of $14,068, other payables of $18,445, and ~~shares issued for services~~income tax payable of ~~$12,500.~~$1,832.

Net cash flow used in investing activities was $0 for the ~~six~~three months ended ~~June 30, 2020,~~March 31, 2021 and ~~the six months ended June 30, 2019.~~March 31, 2020.

Net cash provided by financing activities was ~~$215,485~~$11,833 for the ~~six~~three months ended ~~June 30, 2020~~March 31, 2021 and consisted solely of ~~$1,285 due to related party and $214,200 from sale~~sales of common stock. Net cash provided by financing activities was $31,505 for the six months ended June 30, 2019 and consisted of $2,364 due to a related party, $25,000 from the sale of common stock, and $4,141 from subscription(s) receivable.

Cash Requirements

Our management does not believe that our current capital resources will be adequate to continue operating our company and maintaining our business strategy for much more than 12 months. At the date hereof, we have minimal cash at hand. We require additional capital to implement our business and fund our operations.

~~-20-~~
~~Table of Contents~~
Since inception we have funded our operations primarily through equity financings and we expect that we will continue to fund our operations through the equity and debt financing, either alone or through strategic alliances. Additional funding may not be available on favorable terms, if at all. We intend to continue to fund our business by way of equity or debt financing until natural revenues can support the Company. If we raise additional capital through the issuance of equity or convertible debt securities, the percentage ownership of our company held by existing shareholders will be reduced and those shareholders may experience significant dilution. In addition, new securities may contain certain rights, preferences or privileges that are senior to those of our common stock. We cannot assure you that we will be able to raise the working capital as needed in the future on terms acceptable to us, if at all.

If we are unable to raise capital as needed, we are required to reduce the scope of our business development activities, which could harm our business plans, financial condition and operating results, or cease our operations entirely, in which case, you will lose all of your investment.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to our stockholders.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.
- 4 -
Table of Contents
ITEM 4. CONTROLS AND PROCEDURES

Disclosure controls and procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports, filed under the Securities Exchange Act of 1934, is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate, to allow timely decisions regarding required disclosure. In designing and evaluating the disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable and not absolute assurance of achieving the desired control objectives. In reaching a reasonable level of assurance, management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures. In addition, the design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, a control may become inadequate because of changes in conditions or the degree of compliance with policies or procedures may deteriorate. Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.

As required by the SEC Rules 13a-15(b) and 15d-15(b), we carried out an evaluation under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report. Based on the foregoing, our principal executive officer and principal financial officer concluded that our disclosure controls and procedures were not effective at the reasonable assurance level due to material weaknesses in internal controls over financial reporting.

~~-21-~~
~~Table of Contents~~
To address these material weaknesses, management engaged financial consultants, performed additional analyses and other procedures to ensure that the financial statements included herein fairly present, in all material respects, our financial position, results of operations and cash flows for the periods presented.

A material weakness is a deficiency, or a combination of deficiencies, within the meaning of Public Company Accounting Oversight Board (“PCAOB”) Audit Standard No. 5, 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. Management has identified the following material weaknesses which have caused management to conclude that as of ~~June 30, 2020~~March 31, 2021 our internal controls over financial reporting were not effective at the reasonable assurance level:

1.       We do not have written documentation of our internal control policies and procedures. Written documentation of key internal controls over financial reporting is a requirement of Section 404 of the Sarbanes-Oxley Act which is applicable to us for the three months ended ~~June 30, 2020.~~March 31, 2021. Management evaluated the impact of our failure to have written documentation of our internal controls and procedures on our assessment of our disclosure controls and procedures and has concluded that the control deficiency that resulted represented a material weakness.

2.       We do not have sufficient resources in our accounting function, which restricts the Company’s ability to gather, analyze and properly review information related to financial reporting in a timely manner. In addition, due to our size and nature, segregation of all conflicting duties may not always be possible and may not be economically feasible. However, to the extent possible, the initiation of transactions, the custody of assets and the recording of transactions should be performed by separate individuals. Management evaluated the impact of our failure to have segregation of duties on our assessment of our disclosure controls and procedures and has concluded that the control deficiency that resulted represented a material weakness.
- 5 -
Table of Contents
3.       We do not have personnel with sufficient experience with United States generally accepted accounting principles to address complex transactions.

4.       We have inadequate controls to ensure that information necessary to properly record transactions is adequately communicated on a timely basis from non-financial personnel to those responsible for financial reporting. Management evaluated the impact of the lack of timely communication between non–financial personnel and financial personnel on our assessment of our reporting controls and procedures and has concluded that the control deficiency represented a material weakness.

5.       We have determined that oversight over our external financial reporting and internal control over our financial reporting is ineffective. The Chief Financial Officer has not provided adequate review of the Company’s SEC’s filings and financial statements and has not provided adequate supervision and review of the Company’s accounting personnel or oversight of the independent registered accounting firm’s audit of the Company’s financial statement.

We have taken steps to remediate some of the weaknesses described above, including by engaging a financial reporting advisor with expertise in accounting for complex transactions. We intend to continue to address these weaknesses as resources permit.

Changes in internal control over financial reporting

There were no changes in our internal control over financial reporting during the quarter ended ~~June 30, 2020~~March 31, 2021 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

~~-22-~~
~~Table of Contents~~
PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

We know of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

ITEM 1A. RISK FACTORS

Not applicable to smaller reporting companies.

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

Please refer to Note 8 of the financial statements. All funds raised were used for working capital.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

None.
~~-23-~~- 6 -
Table of Contents
ITEM 6. EXHIBITS

Exhibit No. Description of Exhibit

31.1* Certification of Principal Executive Officer ~~Pursuant to Section 302 of the Sarbanes-Oxley Act Of 2002.~~
31.2* ~~Certification of~~and Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act Of 2002.

32.1* Certification of Principal Executive Officer ~~Pursuant to Section 906 of the Sarbanes-Oxley Act Of 2002.~~
32.2* ~~Certification of~~and Principal Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act ofOf 2002.

101.INS* XBRL INSTANCE DOCUMENT

101.SCH* XBRL TAXONOMY EXTENSION SCHEMA

101.CAL* XBRL TAXONOMY EXTENSION CALCULATION LINKBASE

101.DEF* XBRL TAXONOMY EXTENSION DEFINITION LINKBASE

101.LAB* XBRL TAXONOMY EXTENSION LABEL LINKBASE

101.PRE* XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE

* Filed herewith.
* Filed herewith.
~~-24-~~- 7 -
Table of Contents
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.

ELVICTOR GROUP, INC.

Dated: ~~August 13, 2020~~May 17, 2021 By: /s/ Konstantinos Galanakis
Konstantinos Galanakis
Chief Executive Officer (principal executive officer)

Dated: ~~August 13, 2020~~May 17, 2021 By: /s/ ~~Theofylaktos Petros Oikonomou~~Konstantinos Galanakis
~~Theofylaktos Petros Oikonomou~~Konstantinos Galanakis
Chief Financial Officer (principal financial officer and principal accounting officer)
~~-25-~~- 8 -

ELVICTOR GROUP, INC.
(Exact name of registrant as specified in its charter)

Nevada		82-3296328
(State or other jurisdiction of		(I.R.S. Employer
incorporation or organization)		Identification No.)

~~30 Wall Street (8~~^th ~~Floor)~~Vasileos Konstantinou 7916672 Voulas Varis
~~New York, NY~~Vouliagmenis, Athens, Greece		~~10005~~N/A
(Address of principal executive offices)		(Zip Code)

(646) 491-6601
(~~Registrant's~~Registrant’s telephone number, including area code)

		Page
	PART I - FINANCIAL INFORMATION

Item 1.	Financial Statements		1
	Unaudited Balance Sheet as of ~~June 30, 2020~~March 31, 2021 and December 31, ~~2019~~2020		2F-3
	Unaudited Statements of Operations for the three ~~and six~~ months ended ~~June 30,~~March 31, 2021, and March 31, 2020 ~~and June 30, 2019~~		3F-4
	Unaudited Statements of Cash Flows for the ~~six~~three months ended ~~June 30,~~March 31, 2021 and March 31, 2020 ~~and June 30, 2019~~		4F-5
	Unaudited Statements of Changes in Shareholder’s Equity for the three ~~and six~~ months ended ~~June 30,~~March 31, 2021 and March 31, 2020 ~~and June 30, 2019~~		5F-6
	Notes to the Unaudited Financial Statements		6F-7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		182
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		214
Item 4.	Controls and Procedures	5
	21

	PART II - OTHER INFORMATION

Item 1.	Legal Proceedings		236
Item 1A.	Risk Factors		236
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		236
Item 3.	Defaults Upon Senior Securities		236
Item 4.	Mine Safety Disclosures		236
Item 5.	Other Information		236
Item 6.	Exhibits		247

Signatures		258

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

Large accelerated filer	☐o	Accelerated filer	☐o
Non-accelerated filer	☒x	Smaller reporting company	☒x
		Emerging growth company	☒x

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2020			2019			2020			2019

Revenue - Related party	$	—			—		$	—			473
Operating expenses
Professional fees		89,069			8,000			170,305			16,000
Professional fees – Related Party		6,000			—			11,460			—
Salaries - Officers		9,000			—			18,000			—
Other general and administrative costs		21,801			13,592			36,256			27,190

Total operating expenses		125,870			21,592			236,021			43,190

Loss from operations		(125,870	)		(21,592	)		(236,021	)		(43,190	)

Net loss	$	(125,870	)		(21,592	)	$	(236,021	)		(43,190	)

Net Loss Per Common Stock
- basic and fully diluted	$	(0,00	)		(0,00	)	$	(0,00	)		(0,00	)
Weighted-average number of
shares of common stock outstanding
- basic and fully diluted		20,588,282			20,603,788			21,117,512			20,580,374

Three Months Ended	For the Year Ended	Total Undiscounted		Total Operating
December 31, 2020	December 31, 2021	Payments	Less: Interest	Lease Liabilities
$18,033	$31,321	$49,354	$5,339	$54,693

	June 30,			June 30,
	2020			2019

Net operating loss carry-forward	$	440,318		$	142,271
Less: valuation allowance		(440,318	)		(142,271	)
Net deferred tax asset	$	—		$	—

	March 31,			March 31,
Deferred Tax Assets	2021			2020
Deferred tax assets by jurisdiction
Federal	$	1,211,229		$	314,448
State
Foreign
Valuation Allowance		(1,211,229	)		(314,448	)
Net deferred tax assets		—			—

Deferred tax assets by components
Net operating loss		1,211,229			314,448
Valuation Allowance		(1,211,229	)		(314,448	)
Net deferred tax assets	$	—		$	—

	March 31,		December 31,
	2021		2020
Current:
Federal	$	—	$	—
State		—		—
Foreign		1,832		1,020
Total current tax provision	$	1,832	$	1,020
Deferred:
Federal		—		—
State		—		—
Foreign		—		—
Total deferred benefit		—		—
Total provision (benefit) for income tax	$	1,832	$	1,020

Exhibit No.		Description of Exhibit

31.1*		Certification of Principal Executive Officer ~~Pursuant to Section 302 of the Sarbanes-Oxley Act Of 2002.~~

31.2*		~~Certification of~~and Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act Of 2002.

32.1*		Certification of Principal Executive Officer ~~Pursuant to Section 906 of the Sarbanes-Oxley Act Of 2002.~~
32.2*		~~Certification of~~and Principal Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act ofOf 2002.

101.INS*		XBRL INSTANCE DOCUMENT

101.SCH*		XBRL TAXONOMY EXTENSION SCHEMA

101.CAL*		XBRL TAXONOMY EXTENSION CALCULATION LINKBASE

101.DEF*		XBRL TAXONOMY EXTENSION DEFINITION LINKBASE

101.LAB*		XBRL TAXONOMY EXTENSION LABEL LINKBASE

101.PRE*		XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE

	ELVICTOR GROUP, INC.

Dated: ~~August 13, 2020~~May 17, 2021	By:	/s/ Konstantinos Galanakis
		Konstantinos Galanakis
		Chief Executive Officer (principal executive officer)

Dated: ~~August 13, 2020~~May 17, 2021	By:	/s/ ~~Theofylaktos Petros Oikonomou~~Konstantinos Galanakis
		~~Theofylaktos Petros Oikonomou~~Konstantinos Galanakis
		Chief Financial Officer (principal financial officer and principal accounting officer)