(3) | Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made. |
| During the nine months ended October 31, 2020 the Company earned gross income of $53,082 as compared to $13,391 in the nine months ended October 31, 2019. Operating expenses were substantially reduced in the current nine months ended October 31, 2020 from $1,078,046 (2019) to $658,481 (2020) predominantly as a result of the reduction of management and consulting fees from $643,541 in the nine months ended October 31, 2019 to $372,123 during the current nine months ended October 31, 2020. Further the Company reported other expenses of $506,502 and $305,141 in the nine months ended October 31, 2020 and 2019, respectively. Net loss reported for the nine months ended October 31, 2020 and 2019 is expected to be $1,303,827 and $1,369,796, respectively. |