| Summary of Significant Accounting Policies | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES Basis of Presentation The accompanying unaudited condensed
consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United
States (“U.S. GAAP”) for interim financial information and Article 10 of Regulation S-X. Accordingly, they do not include
all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all
adjustments (consisting of normal accruals) considered necessary for a fair presentation have been included. Operating results
for the three and nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the
year ending December 31, 2017. These condensed consolidated financial statements should be read in conjunction with the consolidated
financial statements for the year ended December 31, 2016 and related notes thereto included in the Company’s Form 10-K filed
with the United States Securities and Exchange Commission (“SEC”) on March 31, 2017. Reclassification Certain amounts in prior periods have
been reclassified to conform to the current period presentation. These reclassifications had no effect on the previously reported
net loss. Principles of Consolidation The condensed consolidated financial
statements include the accounts of the Company and its wholly-owned subsidiaries. All inter-company balances and transactions have
been eliminated in the accompanying condensed consolidated financial statements. Use of Estimates The preparation of financial statements
in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and also affect
the amounts of revenues and expenses reported for each period. Actual results could differ from those which result from using such
estimates. Management utilizes various other estimates, including but not limited to, assessing the collectability of accounts
receivable, accrual of rebates to customers, the valuation of securities, the valuation of inventory, determining the estimated
lives of long-lived assets, determining the potential impairment of intangibles, the fair value of warrants issued, the fair value
of stock options, the recognition of revenue, and other legal claims and contingencies. The results of any changes in accounting
estimates are reflected in the financial statements in the period in which the changes become evident. Estimates and assumptions
are reviewed periodically and the effects of revisions are reflected in the period that they are determined to be necessary. Revenue Recognition Revenue is stated net of sales discounts
and rebates paid to customers (See Customer Marketing Programs including Sign On and Sales Incentives, below). Net sales are recognized
when all of the following conditions are met: (1) the price is fixed and determinable; (2) evidence of a binding arrangement exists
(generally, purchase orders); (3) products have been delivered and there is no future performance required; and (4) amounts are
collectible under normal payment terms. These conditions typically occur when
the products are delivered to or picked up by the Company’s customers. For sales where certain revenue recognition criteria
have not been met at the date of delivery, the Company defers recognition of such revenue and accounts receivable until such recognition
criteria are met. Customer Marketing Programs, including
Sign On and Sales Incentives The Company participates in various
programs and arrangements with customers designed to incent new distribution, incent the introduction of a new product line, or
to increase the sale of its products. Among these programs are arrangements under which allowances can be earned by customers for
introducing a product (sign on incentives, for example), for various discounts to the end retailers or for participating in specific
marketing programs. The Company believes that its participation in these programs is essential to ensuring volume and revenue growth
in a competitive marketplace. Depending upon the program, those incentives are paid in either cash or the issuance of equity instruments.
During the three months ended September 30, 2017 and 2016, these allowances resulted in reductions in net sales of $195,153 and
$0, respectively. During the nine months ended September 30, 2017 and 2016, these allowances resulted in reductions in net sales
of $596,335 and $45,165, respectively. Included in these amounts for the three and nine months ended September 30, 2017 are (income)
costs of ($1,388) and $255,634, respectively, representing the non-cash costs of a sign-on incentive, presented net of mark-to-market
adjustments for unvested awards related to warrants issued in connection with the signing of a distribution agreement and the first
order with Big Geyser Inc. (“Big Geyser”) (See Notes 7 and 8). Shipping and Handling Costs Shipping and handling costs incurred
to move finished goods from the Company’s sales distribution centers to customer locations are included in selling and marketing
expenses within the condensed consolidated statements of operations and totaled $184,423 and $117,998, for the three months ended
September 30, 2017 and 2016, respectively and $381,151 and $319,668 for the nine months ended September 30, 2017 and 2016, respectively. Advertising The Company expenses advertising costs
as incurred. Advertising costs are included in selling and marketing expenses within the condensed consolidated statements of operations
and totaled $196,758 and $84,433 for the three months ended September 30, 2017 and 2016, respectively, and $513,522 and $114,980,
for the nine months ended September 30, 2017 and 2016, respectively. Research and Development Costs related to new product initiatives
incurred were included in selling and marketing expenses within the condensed consolidated statements of operations and totaled
$30,375 and $24,464 for the three months ended September 30, 2017 and 2016, respectively, and $335,101 and $143,651 for the nine
months ended September 30, 2017 and 2016, respectively. Other research and development costs were included in general and administrative
expenses within the condensed consolidated statements of operations and totaled $0 and $0 for the three months ended September
30, 2017 and 2016, respectively and $829 and $46,667 for the nine months ended September 30, 2017 and 2016, respectively. The other
research and development expenses incurred during the three and nine months ended September 30, 2016 were incurred pursuant to
an alcohol beverage development agreement which will require the Company to pay $40,000 in cash and $40,000 in common stock upon
the completion of the arrangement. As of September 30, 2017, $50,000 was included in accrued expenses in the condensed consolidated
balance sheet related to the 2016 arrangement. Short-term Investments The Company accounts for securities
in accordance with accounting standards for investments in debt and equity securities. Accounting standards require investments
in debt and equity securities to be classified as either “held to maturity”, “trading”, or “available-for-sale.” The Company holds investments in marketable
securities, consisting of U.S. government securities and mutual funds. The Company’s available-for-sale securities are carried
at estimated fair value with any unrealized gains and losses, net of taxes, included in accumulated other comprehensive (loss)
income in stockholders’ equity, when applicable. During the three months ended September 30, 2017 and 2016, the unrealized
gain was $0 and $0, respectively, and during the nine months ended September 30, 2017 and 2016, the unrealized gain was $30,246
and $0, respectively. Unrealized losses are charged against interest and other income/(expense), net, when a decline in fair value
is determined to be other-than-temporary. The Company has not recorded any such impairment charge in the periods presented. The
Company determines realized gains or losses on sale of marketable securities on a specific identification method, and records such
gains or losses as interest and other income/(expense), net. The following table sets forth the available-for-sale
securities, which were fully liquidated during the nine months ended September 30, 2017:
As of
September 30, 2017 December 31, 2016
U.S. government securities $ - $ 195,374
Fixed income mutual funds - 2,194,147
$ - $ 2,389,521
As of December 31, 2016
Amortized Unrealized
Cost Losses Fair Value
U. S. government securities $ 195,570 $ (196 ) $ 195,374
Fixed income mutual funds 2,224,197 (30,050 ) 2,194,147
Total $ 2,419,767 $ (30,246 ) $ 2,389,521 The following table classifies the US
government securities by maturity:
As of
September 30, 2017 December 31, 2016
Within one year $ - $ 94,967
Within one to five years - 100,407
$ - $ 195,374 Accounts Receivable The Company sells products to distributors
and in certain cases directly to retailers, and extends credit, generally without requiring collateral, based on its evaluation
of the customer’s financial condition. While the Company has a concentration of credit risk in the retail sector, it believes
this risk is mitigated due to the diverse nature of the customers it serves, including, but not limited to, its type, geographic
location, size, and beverage channel. Potential losses on the Company’s receivables are dependent on each individual customer’s
financial condition and sales adjustments granted after the balance sheet date. The Company carries its trade accounts receivable
at net realizable value. Accounts receivable have terms of ranging from 30 to 75 days and do not bear interest. The Company monitors
its exposure to losses on receivables and maintains allowances for potential losses or adjustments. The Company determines these
allowances by (1) evaluating the aging of its receivables; (2) analyzing its history of sales adjustments; and (3) reviewing its
high-risk customers. Past due receivable balances are written off when the Company’s efforts have been unsuccessful in collecting
the amount due. Accounts receivable are stated at the amounts management expects to collect. Accounts receivable, net, is as follows:
As of
September 30, 2017 December 31, 2016
Accounts receivable, gross $ 2,232,968 $ 1,859,474
Allowance for doubtful accounts (676,167 ) (232,416 )
Accounts receivable, net $ 1,556,801 $ 1,627,058 Concentrations of Credit Risk Financial instruments which potentially
subject the Company to concentrations of credit risk consist principally of cash on deposit with financial institutions and accounts
receivable. At times, the Company’s cash in banks is in excess of the FDIC insurance limit. The Company has not experienced
any loss as a result of these cash deposits. These cash balances are maintained with one bank. The Company is exposed to credit
risk with regard to two customers who accounted for 19% and 17%, or 36% in the aggregate, and 46% of the Company’s trade
receivables as of September 30, 2017 and December 31, 2016, respectively. The account representing the 19% is further collateralized
by notes receivable from Seba and personal guarantees (See Note 1). Otherwise, the Company does not generally require collateral
or other security to support customer receivables. The Company monitors its exposure for
credit losses and maintains allowances for anticipated losses, as required. Inventories The Company’s inventory includes
raw materials such as bottles, sweeteners, labels, flavors and packaging. Finished goods inventory consists of bottled iced tea,
lemonade and ALO Juice. As of September 30, 2017 and December 31, 2016, included in inventory was finished goods inventory with
a cost of approximately $95,000 and $320,000, respectively, which was delivered to a distributor, and is held in inventory until
certain revenue recognition criteria are met. The Company values its inventories at
the lower of cost or net realizable value. Cost is determined using the first-in, first-out (FIFO) method. As of September 30,
2017 and December 31, 2016, the Company recorded reserves of $115,125 and $45,078, respectively, to reduce the cost of certain
products to estimated net realizable value. The following table summarizes inventories as of the dates presented:
As of
September 30, 2017 December 31, 2016
Finished goods $ 853,157 $ 905,642
Raw materials and supplies 844,094 282,299
Total inventories $ 1,697,251 $ 1,187,941 Property and Equipment Property and equipment is recorded at
cost. Major property additions, replacements, and betterments are capitalized, while maintenance and repairs that do not extend
the useful lives of an asset or add new functionality are expensed as incurred. Depreciation is recorded using the straight-line
method over the respective estimated useful lives of the Company’s assets. The estimated useful lives typically
are 3 years for cold-drink containers, such as reusable fridges, wood racks, vending machines, barrels, and coolers, and are depreciated
using the straight-line method over the estimated useful life of each group of equipment, as determined using the group-life method.
Under this method, the Company does not recognize gains or losses on the disposal of individual units of equipment when the disposal
occurs in the normal course of business. The Company capitalizes the costs of refurbishing its cold-drink containers and depreciates
those costs over the estimated period until the next scheduled refurbishment or until the equipment is retired. The estimated useful
lives are typically 3 to 5 years for office furniture and equipment and are depreciated on a straight-line basis. The estimated
useful lives for trucks and automobiles are typically 3 to 5 years and are depreciated on a straight line basis. For the three
months ended September 30, 2017 and 2016, depreciation expense was $32,322 and $39,420, respectively. For the nine months ended
September 30, 2017 and 2016, depreciation expense was $109,028 and $117,118, respectively. Intangible Assets Intangible assets with finite useful
lives are amortized over their expected useful life. Intangible assets with useful lives are tested for impairment when circumstances
indicate that there could be an impairment. Intangible assets with finite useful lives include website development costs with a
net book value of $0 and $2,500 as of September 30, 2017 and December 31, 2016, respectively. The estimated useful life of the
capitalized costs of the Company’s website was 3 years and was depreciated on a straight line basis. As of September 30,
2017, the cost of the website development was $15,000 and the accumulated amortization was $15,000. As of December 31, 2016, the
cost of the website development was $15,000 and the accumulated amortization was $12,500. For the three months ended September
30, 2017 and 2016, amortization expense was $0 and $1,251, respectively, and $2,500 and $3,753 for the nine months ended September
30, 2017 and 2016, respectively. Intangible assets with indefinite useful
lives are tested for impairment when circumstances indicate that there could be an impairment. As of September 30, 2017, the cost
of the ALO Juice IP, which has an indefinite useful life, was $150,000 (See Note 1). Income Taxes The Company recognizes deferred tax
liabilities and assets for the expected future tax consequences of events that have been included in the financial statements or
tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement, and tax
basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.
The Company estimates the degree to which tax assets and credit carry forwards will result in a benefit based on expected profitability
by tax jurisdiction. In its interim financial statements,
the Company follows the guidance in ASC 270, “Interim Reporting” and ASC 740 “Income Taxes”, whereby the
Company utilizes the expected annual effective tax rate in determining its income tax provisions for the interim periods. That
rate differs from U.S. statutory rates primarily as a result of valuation allowance related to the Company’s net operating
loss carryforward as a result of the historical losses of the Company. Management makes judgments as to the
interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liabilities.
In management’s opinion, adequate provisions for income taxes have been made for all years. If actual taxable income by tax
jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary. The Company accounts for uncertain
tax positions in accordance with ASC 740 —”Income Taxes”. No uncertain tax provisions have been identified. The
Company accrues interest and penalties, if incurred, on unrecognized tax benefits as components of the income tax provision in
the accompanying condensed consolidated statements of operations. Our primary tax jurisdictions are our federal, various state,
and local taxes. Generally, Federal, State and Local
authorities may examine the Company’s tax returns for three years from the date of filing. In accordance with ASC 740, the Company
evaluates whether a valuation allowance should be established against the net deferred tax assets based upon the consideration
of all available evidence and using a “more likely than not” standard. Significant weight is given to evidence that
can be objectively verified. The determination to record a valuation allowance is based on the recent history of cumulative losses
and current operating performance. In conducting the analysis, the Company utilizes an approach, which considers the current year
loss, including an assessment of the degree to which any losses are driven by items that are unusual in nature and incurred to
improve future profitability. In addition, the Company reviews changes in near-term market conditions and any other factors arising
during the period, which may impact its future operating results. Internal Revenue Code Section 382 imposes
limitations on the use of net operating loss carryovers (“NOLs”) when the stock ownership of one or more 5% shareholders
(shareholders owning 5% or more of the Company’s outstanding capital stock) has increased on a cumulative basis by more than
50 percentage points. The Company’s preliminary analysis indicated that such shares have increased by more than 50% since
the last Section 382 limitation on May 27, 2015. The Company is currently evaluating the impact of the new Section 382 limitation. Loss per share Basic net loss per common share is computed
by dividing net loss by the weighted-average number of common shares outstanding. Diluted earnings per share reflect, in periods
in which they have a dilutive effect, the impact of common shares issuable upon the exercise of stock options, warrants and the
conversion. The computation of diluted earnings per share excludes those with an exercise price in excess of the average market
price of the Company’s common shares during the periods presented. The computation of diluted earnings per share excludes
outstanding options, warrants and other dilutive instruments in periods where the inclusion of such instruments would be antidilutive,
as provided below:
As of September 30,
2017 2016
Options to purchase common stock 1,074,155 465,411
Warrants to purchase common stock 1,130,570 470,570
Total potentially dilutive securities 2,204,725 935,981 Fair Value of Financial Instruments The carrying amounts of cash, short
term investments, accounts receivable, automobile and equipment loans and the UBS Credit Line (See Note 4 below) approximate fair
value due to the short-term nature of these instruments. In addition, for notes payable, the Company believes that interest rates
approximate prevailing rates. ASC 820 “Fair Value Measurements
and Disclosures” provides the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes
the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices
in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level
3 measurements). Fair value is defined as an exit price,
representing the amount that would be received upon the sale of an asset or payment to transfer a liability in an orderly transaction
between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants
would use in pricing an asset or liability. A three-tier fair value hierarchy is used to prioritize the inputs in measuring fair
value as follows: Level 1 Quoted prices in active markets
for identical assets or liabilities. Level 2 Quoted prices for similar assets
or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active,
or other inputs that are observable, either directly or indirectly. Level 3 Significant unobservable inputs
that cannot be corroborated by market data. Fair values for short-term money market
investments are determined from quoted prices in active markets for these money market funds, and are considered to be Level 1. The carrying value of financial instruments
in the Company’s condensed consolidated financial statements are as follows:
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Quoted Prices for Similar Assets or Liabilities in Active Markets (Level 2) Significant Unobservable Inputs (Level 3)
Short-term investments at September 30, 2017 $ — $ — $ —
Short-term investments at December 31, 2016 $ 2,389,521 $ — $ — Stock-based Compensation The Company accounts for stock options
granted to consultants pursuant to the accounting guidance included in ASC 505-50 “Equity-Based Payments to Non-Employees”
(“ASC 505-50”). Stock-based compensation cost is measured at the grant date and at the end of each reporting period
for unvested awards, based on the fair value of the award, and is recognized as expense over the consultant’s requisite service
period (generally the vesting period of the equity grant). The fair value of the Company’s stock options granted to consultants
are estimated using the Black Scholes option-pricing model with the following assumptions: expected volatility, dividend rate,
risk free interest rate and the expected life. In accordance with ASC 505-50, the Company
recorded adjustments at the end of each reporting period to reflect the mark-to-market adjustment of the fair value of unvested
awards granted to consultants. In connection with the mark-to-market adjustments at September 30, 2017, the Company utilized the
closing price of the Company’s common stock, as quoted on the NASDAQ Stock Market LLC (“Nasdaq”), as an input
to the Black Scholes option-pricing model for the fair value of its common stock. Recent Accounting Pronouncements In January 2016, the Financial Accounting
Standards Board (“FASB”), issued Accounting Standards Update (“ASU”) 2016-01, “Financial Instruments-Overall
(Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities,” which amends the guidance
in U.S. generally accepted accounting principles on the classification and measurement of financial instruments. Changes to the
current guidance primarily affect the accounting for equity investments, financial liabilities under the fair value option, and
the presentation and disclosure requirements for financial instruments. In addition, the ASU clarifies guidance related to the
valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt
securities. The new standard is effective for fiscal years and interim periods beginning after December 15, 2017, and is to be
adopted by means of a cumulative-effect adjustment to the balance sheet at the beginning of the first reporting period in which
the guidance is effective. Early adoption is not permitted except for the provision to record fair value changes for financial
liabilities under the fair value option resulting from instrument-specific credit risk in other comprehensive income. The Company
is currently evaluating the impact the adoption of this standard will have on its condensed consolidated financial statements. In February 2016, the FASB issued new
lease accounting guidance (ASU No. 2016-02, Leases). Under the new guidance, at the commencement date, lessees will be required
to recognize a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a
discounted basis; and a right-of use asset, which is an asset that represents the lessee’s right to use, or control the use
of, a specified asset for the lease term. The new guidance is not applicable for leases with a term of 12 months or less. Lessor
accounting is largely unchanged. Public business entities should apply the amendments in ASU 2016-02 for fiscal years beginning
after December 15, 2018, including interim periods within those fiscal years. Early application is permitted upon issuance. Lessees
(for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective
transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in
the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired
before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. The
Company is currently evaluating the impact the adoption of this standard will have on its condensed consolidated financial statements. On March 30, 2016, the FASB issued ASU
No. 2016-09, “Compensation – Stock Compensation (Topic 718)”. This update requires that all excess tax benefits
and tax deficiencies arising from share-based payment awards should be recognized as income tax expense or benefit on the income
statement. The amendment also states that excess tax benefits should be classified along with other income tax cash flows as an
operating activity. In addition, an entity can make an entity-wide accounting policy election to either estimate the number of
awards expected to vest or account for forfeitures as they occur. The provisions of this update are effective for annual and interim
periods beginning after December 15, 2016. The Company adopted this standard effective December 31, 2016. The adoption did not
have a material effect on the Company’s condensed consolidated financial statements. In April 2016, the FASB issued ASU No.
2016-10 “Revenue from Contracts with Customers (Topic 606)”, “Identifying Performance Obligations and Licensing”
(“ASU 2016-10”). ASU 2016-10 clarifies the following two aspects of Topic 606: identifying performance obligations
and the licensing implementation guidance, while retaining the related principles for those areas. The provisions of this update
are effective for annual and interim periods beginning after December 15, 2017, with early application permitted. The Company is
continuing to evaluate the expected impact of this new revenue guidance. The Company is currently preparing its assessment of the
full financial impact of the new revenue recognition guidance, including the method of adoption, and intends to adopt the guidance
when it becomes effective for the Company on January 1, 2018. In May 2016, the FASB issued ASU No.
2016-12 “Revenue from Contracts with Customers (Topic 606)”, “Narrow-Scope Improvements and Practical Expedients”
(“ASU 2016-12”). The core principal of ASU 2016-12 is the recognition of revenue to depict the transfer of promised
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. The provisions of this update are effective for annual and interim periods beginning after December
15, 2017, with early application permitted. The Company is continuing to evaluate the expected impact of this new revenue guidance.
The Company is currently preparing its assessment of the full financial impact of the new revenue recognition guidance, including
the method of adoption, and intends to adopt the guidance when it becomes effective for the Company on January 1, 2018. In August 2016, the FASB issued ASU
No. 2016-15 “Statement of Cash Flows (Topic 230)”, “Classification of Certain Cash Receipts and Cash Payments”
(“ASU 2016-15”). The amendments for this update provide guidance on the eight specific cash flows: debt prepayment
or debt extinguishment costs, settlement of zero-coupon debt instruments, contingent consideration payments made after a business
combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies,
distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable
cash flows and application of the predominance principle. The provisions of this update are effective for annual and interim periods
beginning after December 15, 2016, with early application permitted. The Company adopted this standard effective December 31, 2016.
The adoption did not have a material effect on the Company’s condensed consolidated financial statements. In January 2017, the FASB issued ASU
2017-01, “Clarifying the Definition of a Business” (“ASU 2017-01”), which provides guidance to assist entities
with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01
requires entities to use a screen test to determine when an integrated set of assets and activities is not a business or if the
integrated set of assets and activities needs to be further evaluated against the framework. ASU 2017-01 is effective for fiscal
years beginning after December 15, 2017, including interim periods within those years. The Company is currently evaluating the
impact the adoption of this standard will have on its condensed consolidated financial statements. In May 2017, the FASB issued ASU No.
2017-09 “Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting” (“ASU 2017-09”).
The amendments in this update provide guidance about which changes to the terms or conditions of a share-based payment award require
an entity to apply modification accounting in Topic 718. An entity should account for the effects of a modification unless all
of the following are met: The fair value of the modified award is the same as the fair value of the original award immediately
before the original award is modified, the vesting conditions of the modified award are the same as the vesting conditions of the
original award immediately before the original award is modified and the classification of the modified award an equity instrument
or a liability instrument is the same as the classification of the original award immediately before the original award is modified.
The provisions of this update are effective for annual and interim periods beginning after December 15, 2017, with early adoption
permitted. The Company is currently evaluating the impact the adoption of this standard will have on its condensed consolidated
financial statements. Management’s Evaluation of
Subsequent Events The Company evaluates events that have
occurred after the balance sheet date but before the financial statements are issued. Based upon the review, other than described
in Note 1 –Business Organization, Liquidity, and Going Concern, Note 8 – Commitments and Contingencies and Note 11
– Subsequent Events, the Company did not identify any recognized or non-recognized subsequent events that would have required
adjustment or disclosure in the financial statements. |
