Our Management's Discussion and Analysis should be read in conjunction with our
unaudited condensed consolidated financial statements and related notes thereto
included elsewhere in this quarterly report.



Forward-Looking Statements



This Quarterly Report contains forward-looking statements and information
relating to us that are based on the beliefs of our management as well as
assumptions made by, and information currently available to, our management.
When used in this report, the words "believe," "anticipate," "expect," "will,"
"estimate," "intend", "plan" and similar expressions, as they relate to us or
our management, are intended to identify forward-looking statements. Although we
believe that the plans, objectives, expectations and prospects reflected in or
suggested by our forward-looking statements are reasonable, those statements
involve risks, uncertainties and other factors that may cause our actual
results, performance or achievements to be materially different from any future
results, performance or achievements expressed or implied by these
forward-looking statements, and we can give no assurance that our plans,
objectives, expectations and prospects will be achieved. Important factors that
might cause our actual results to differ materially from the results
contemplated by the forward-looking statements are contained in the "Risk
Factors" section of and elsewhere in our Annual Report on Form 10-K for the
fiscal year ended June 30, 2020, and in our subsequent filings with the SEC, and
include, among others, the following: marijuana is illegal under federal law,
the marijuana industry is subject to strong competition, our business is
dependent on laws pertaining to the marijuana industry, the marijuana industry
is subject to government regulation, our business model depends on the
availability of private funding, we will be subject to general real estate
risks, if debt payments to note holder are not made we could lose our investment
in our real estate properties, terms and deployment of capital. The terms
"Global Technologies, Ltd "Global Technologies," "Global," "we," "us," "our,"
and the "Company" refer to Global Technologies, Ltd., individually, or as the
context requires, collectively with its subsidiaries on a consolidated basis.



Company Overview



Global Technologies, Ltd. (hereinafter the "Company", "Our", "We", or "Us") is a
publicly quoted company that was incorporated under the laws of the State of
Delaware on January 20, 1999 under the name of NEW IFT Corporation. On August
13, 1999, the Company filed an Amended and Restated Certificate of Incorporation
with the State of Delaware to change the name of the corporation to Global
Technologies, Ltd. Our principal executive offices are located at 501 1st Ave
N., Suite 901, St. Petersburg, FL 33701 and our telephone number is (727)
482-1505. Our website address is www.globaltechnologiesltd.info. The information
contained on, or that can be accessed through, our website is not a part of this
Registration Statement. We have included our website address in this
Registration Statement solely as an inactive textual reference.



Prior Operational History



From inception until March 2011, Global Technologies was a technology portfolio
company that acquired nascent technology and related innovations, inventions and
IP assets to enhance their growth and development. The Company built revenues
and asset value through a model of continuous growth, income from or sale of its
portfolio holdings, and technology licensing or distribution agreements.

The Company invested primarily in innovative and promising clean/renewable energy or bio-tech technologies that had reached the stage in the critical Technology Development & Demonstration phase of the Innovative Cycle, which includes Prototype, Demonstration and Market Analysis.

In March 2011, the Company abandoned its operations. Mr. Jimmy Wayne Anderson, our sole officer and director, was appointed a director of the Company in December 2017 and an officer in January 2018.





Current Operations



Global Technologies, Ltd ("Global") is a holding corporation, which through its
subsidiaries, has operations engaged in the online sales of CBD and hemp related
products, the acquisition of intellectual property in the safety and security
space and as a portal for entrepreneurs to provide immediate access to live
shopping, e-commerce, product placement in brick and mortar retail outlets

and
logistics.



On November 30, 2019, the Company entered into a Purchase and Sale Agreement
(the "Agreement") for the purchase of TCBM Holdings, LLC ("TCBM") and its two
wholly owned subsidiaries, HMNRTH, LLC and 911 Help Now, LLC. Under the terms of
the Agreement, the Company issued a Convertible Promissory Note (the "Note") in
the amount of $2,000,000 to Jetco Holdings, LLC for the purchase of all issued
and outstanding membership units of TCBM and its subsidiaries. Please see NOTE G
- NOTES PAYABLE, THIRD PARTIES for further information.



On March 11, 2020, the Company, through its two wholly owned subsidiaries,
HMNRTH, LLC (the "Seller") and TCBM Holdings, LLC (the "Owner") (together Seller
and Owner the "Selling Parties") entered into an Asset Purchase Agreement (the
"Agreement") with Edison Nation, Inc. and its wholly owned subsidiary,
Scalematix, LLC (together the "Buyer"), for the sale of certain assets in the
health and wellness industry and related consumer products industry. Under the
terms of the Agreement, Buyer was to remit $70,850 via wire transfer at Closing
and issue to a representative of the Selling Parties Two Hundred Thirty-Eight
Thousand Seven Hundred and Fifty (238,750) shares of restricted common stock. In
addition, the Selling Parties shall have the right to additional earn out
compensation based upon the following metrics: (i) at such time as the purchased
assets achieve cumulative revenue of $2,500,000, the Selling Parties shall earn
One Hundred Twenty-Five Thousand (125,000) shares of common stock; and (ii) at
such time as the purchased assets achieve cumulative revenue of $5,000,000, the
Selling Parties shall earn One Hundred Twenty-Five Thousand (125,000) shares of
common stock. The Closing of the transaction occurred on March 11, 2020. As of
the date of this filing, the Company has received the 238,750 shares of
restricted common stock valued at $477,500 and cash compensation of $70,850 due
under the terms of the Agreement. The shares were subsequently transferred to
the principal of Jetco Holdings, LLC as payment against the November 30, 2019
Convertible Promissory Note issued by the Company. Please see NOTE G - NOTES
PAYABLE, THIRD PARTIES for further information.



On September 3, 2020, the Company entered into a Commitment to be Bound by the
Amended Operating Agreement to Effect Transfer of Membership Interest in order
to facilitate the transfer of 25 Membership Units (the "Units") issued by Global
Clean Solutions, LLC ("Global") and held in the name of Graphene Holdings, LLC
("Graphene") to the Company. In exchange for the transfer of the Units to the
Company, the Company issued to Graphene a Convertible Promissory Note (the
"Note") in the amount of $250,000. Please see NOTE G - NOTES PAYABLE, THIRD
PARTIES for further information.



30

Our wholly owned subsidiaries:





About TCBM Holdings, LLC



TCBM Holdings, LLC ("TCBM") was formed as a Delaware limited liability company
on August 10, 2017. TCBM is a holding corporation, which operated through its
two wholly owned subsidiaries, HMNRTH, LLC and 911 Help Now, LLC.



On December 28, 2020, the Company, through its wholly owned subsidiary TCBM
Holdings, LLC, entered into an Amendment to Management Agreement (the
"Amendment") by and between Vinco Ventures, Inc. (f/k/a Edison Nation, Inc.) and
Scalematix, LLC (together, the "Company"), TCBM Holdings, LLC and Graphene
Holdings, LLC. Under the terms of the Amendment, TCBM Holdings, LLC agreed to
transfer all benefits and obligations under the Management Agreement dated
August 12, 2019 to Graphene Holdings, LLC and its owner Timothy Cabrera in
consideration for the reduction of outstanding principal in the amount of
$400,000 against the Convertible Promissory Note issued to Jetco Holdings, LLC
on November 3, 2019 by Global Technologies, Ltd, the parent of TCBM Holdings,
LLC.



About HMNRTH, LLC



HMNRTH, LLC ("HMN") was formed as a Delaware limited liability company on July
30, 2019. HMNRTH operates as an online store selling a variety of hemp and CBD
related products. The Company's business model is to bridge the gap between the
lifestyle and knowledge components within the cannabis industry. The Company's
goal is to educate every consumer while cultivating an experience by providing
quality products, branded cutting-edge content, and diversified product lines
for any purpose. Most importantly, we want our clients to discover their inner
HMN, redefine their inner HMN and Empower their inner HMN.



In September 2019, the Company entered into a Quality Agreement with Nutralife
Biosciences for the development and production of its CBD line of products. The
Company's product line includes hemp derived, full spectrum cannabidiol
tinctures and creams in varying sizes.



In order for the Company to generate revenue through HMNRTH, we will need to:
(i) produce additional inventory for retail sales through the Company's
ecommerce site or sales, or (ii) sales to third party distributors, or (iii)
direct sales to brick and mortar CBD retail outlets, or (iv) generate additional
CBD formulas to be utilized in new products At present, the Company does not
have the required capital to initiate any of the options and there is no
guarantee that we will be able to raise the required funds.

Regulation of HMNRTH products:


The manufacture, labeling and distribution of our products is regulated by
various federal, state and local agencies. These governmental authorities may
commence regulatory or legal proceedings, which could restrict the permissible
scope of our product claims or the ability to sell our products in the future.
The FDA regulates our nutraceutical and wellness products to ensure that the
products are not adulterated or misbranded.



We are subject to additional regulation as a result of our CBD products. The
shifting compliance environment and the need to build and maintain robust
systems to comply with different compliance in multiple jurisdictions increase
the possibility that we may violate one or more of the requirements. If our
operations are found to be in violation of any of such laws or any other
governmental regulations that apply to us, we may be subject to penalties,
including, without limitation, civil and criminal penalties, damages, fines, the
curtailment or restructuring of our operations, any of which could adversely
affect our ability to operate our business and our financial results.



Failure to comply with FDA requirements may result in, among other things,
injunctions, product withdrawals, recalls, product seizures, fines and criminal
prosecutions. Our advertising is subject to regulation by the FTC under the
FTCA. Additionally, some states also permit advertising and labeling laws to be
enforced by private attorney generals, who may seek relief for consumers, seek
class action certifications, seek class wide damages and product recalls of
products sold by us. Any actions against us by governmental authorities or
private litigants could have a material adverse effect on our business,
financial condition and results of operations.



31







About 911 Help Now, LLC



911 Help Now, LLC ("911") was formed as a Delaware limited liability company on
February 2, 2018. 911 was a holding company of intellectual property in the
safety and security space. At present, we own no intellectual property within
our 911 subsidiary. In order to generate future revenue within 911, we will need
to identify and either acquire or license intellectual property. In the event of
an acquisition, we will then need to either develop products utilizing our
intellectual property or license out our intellectual property to a third party.
There is no guarantee that we will be successful with an acquisition or
licensing of any intellectual property.



About Markets on Main, LLC



Markets on Main, LLC ("MOM") was formed as a Florida limited liability company
on April 2, 2020. MOM is A full service, sales and distribution, third-party
logistics provider and portal to multi-channel sales opportunities. MOM's focus
is on bringing small businesses and entrepreneurs to large opportunities and
distribution. MOM will provide the following services to its clients: inventory
management, brand management, fulfillment and drop-ship capabilities, retail
distribution and customer service. MOM's website can be found at
www.marketsonmain.com.



On January 3, 2022, the Company filed Articles of Conversion with the State of
Florida to convert MOM from a limited liability company to a Florida profit
corporation. Simultaneous with the filing of the Articles of Conversion, the
Company filed Articles of Incorporation for MOM.



On January 19, 2022, MOM entered into an Exclusive Distribution Agreement (the
"Distribution Agreement") with Amfluent, LLC ("Amfluent"). Under the terms of
the Distribution Agreement, MOM will become an exclusive distributor for the
promotion and sale of products carried by Amfluent. As the exclusive
distributor, MOM shall be awarded the exclusive territory of e-commerce, live
shopping and digital sales. The Distribution Agreement has a term of one year
from the Effective Date unless both parties agree to renew the Distribution
Agreement for an additional term.

About Tersus Power, Inc. (Delaware)

Tersus Power, Inc. (Delaware) was formed as a wholly owned subsidiary as per the
terms of the Share Exchange Agreement entered into with Tersus Power, Inc. and
the Tersus Shareholders with the sole purpose of entering into an Agreement and
Plan of Merger to effect a name change. The Articles of Incorporation were filed
with the Secretary of State of the State of Delaware on March 15, 2022.



Investment:

Global Clean Solutions, LLC Acquisition





Global Clean Solutions was founded as a special purpose entity in the Personal
Protective Equipment Industry during the initial stages of the pandemic in 2020.
Its management set out with a simple mission; deliver customers PPE while
removing the panic from the pandemic. Global Clean Solutions has created a solid
and repeatable foundation and is able to satisfy the needs of both government
municipalities and corporations that many companies have tried, and few have
succeeded.



  ? Direct to factory relationships
  ? Proprietary hand sanitizer ready to ship
  ? Funding programs available
  ? Government contract expertise
  ? Overseas production capabilities
  ? Distribution centers in CA and FL




The Company elected to impair its investment in Global Clean during the year
ended June 30, 2021 as it does not anticipate generating any further revenue
from this investment.



32







Consulting Services:



On May 10, 2021, the Company entered into a Consulting Agreement (the
"Agreement") with CoroWare, Inc. ("CoroWare"). Under the terms of the Agreement,
the Company is to prepare the following financial reports for CoroWare: (i)
Registration Statement and all subsequent amendments, (ii) Quarterly Reports for
the periods ended March 31, 2021, June 30, 2021 and September 30, 2021, and
(iii) Annual Report for the period ended December 31, 2021. The Agreement shall
have a term of one (1) year or until CoroWare's Annual Report is filed with OTC
Markets or the SEC. The Company shall be compensated a total of $45,000 in three
equal payments of $15,000. As of March 31, 2022, the Company has received
$45,000 compensation.



On June 29, 2021, the Company entered into a Fee Agreement for the preparation
of a registration statement on Form S-1 and all follow up correspondence with
the appropriate regulatory agencies. As of March 31, 2022, the Company has
received $5,000 compensation.



On December 16, 2021, the Company entered into a Consulting Agreement (the
"Agreement") with Palisades Holding Corp, Inc. ("Palisades"). Under the terms of
the Agreement, the Company is to prepare a Registration Statement on Form S-1
(the "Registration Statement") and all subsequent amendments to the Registration
Statement. The Agreement shall remain in effect for the earlier of six (6)
months or until Palisade's Registration Statement is filed with the SEC. The
Company shall be compensated a total of $25,000 upon the first funding
transaction in an amount of $49,000 or more by Palisade. As of March 31, 2022,
the Company has received $- compensation.

Share Exchange Agreement with Tersus Power, Inc. (Nevada)





On November 17, 2021, the Company entered into a Letter of Intent to acquire
Tersus Power, Inc. ("Tersus Power"). On March 9, 2022, the Company entered into
a Share Exchange Agreement (the "Exchange Agreement") with Tersus Power and the
Tersus Shareholders. Under the terms of the Exchange Agreement, at Closing the
Company shall deliver to the Tersus Shareholders a to-be-determined pro-rata
number of shares of the Company's Class A Common Stock for each one (1) share of
Tersus common stock held by the Tersus Shareholder (the "Exchange Ratio"). Such
shares of the Company's Class A Common Stock shall collectively (i) be referred
to as the "Exchange Shares", and (ii) constitute 75% of the issued and
outstanding shares of stock, of all classes, of the Company immediately
following the Closing. Conditions precedent to the Closing shall require the
Company to complete the following corporate actions: (i) the Company will have
completed a merger with and into its wholly owned subsidiary sufficient to
change its name to "Tersus Power, Inc.", a Delaware corporation, with an
authorized capital of 500 million shares of common stock (of one class), and 10
million shares of preferred stock (none of which will be authorized as a
particular series), (ii) the Company will have completed, and FINRA will have
recognized and effectuated, a reverse split of its common stock in a range
between 1-for-1,000 and 1-for-4,000, at a level that is acceptable to the
Parties, (iii) all of the holders of the Company's Series K Preferred Stock and
Series L Preferred Stock will have converted their preferred shares into Class A
Common Stock of the Company, and (iv) certain nominees by the Tersus
Shareholders shall be appointed to the Company's Board of Directors.

The Exchange Agreement provides for mutual indemnification for breaches of representations and covenants.





Unless the Exchange Agreement shall have been terminated and the transactions
therein contemplated shall have been abandoned, the closing of the Exchange
(the "Closing") will take place at 5:00 p.m. Pacific Time on the second business
day following the satisfaction or waiver of the conditions (the "Closing Date").
Either party may terminate the Exchange Agreement if a Closing has not occurred
on or before June 30, 2022.



About Tersus Power, Inc.
Tersus Power Inc. was founded in 2020 as a contract manufacturer that will build
and deliver Modular Hydrogen Fueling stations across the U.S and Canada. Tersus
Power is located in Nevada and is in the process of commissioning a facility to
manufacture the initial prototypes, and then ramp up to manufacture 10 modular
fueling stations per month. The Company's manufacturing facility will be located
in the Pittsburgh, PA metroplex.



Tersus Power bases its Gen3 Modular Hydrogen Fueling Station on the PowerTap
PT50, which was originally developed and manufactured by Nuvera in cooperation
with the Department of Energy. Tersus Power's next generation modular Hydrogen
fueling station will utilize the patented solutions developed by Nuvera and the
Department of Energy and will generate up to 1250 Kg of pure Hydrogen daily.



Tersus Power's sole objective is to design a safe, adaptable and affordable
hydrogen fueling station that allows for rapid development and deployment of
hydrogen fueling infrastructure while minimizing the risk to investors. The
Company's modular prefabricated fueling stations could be produced on a very
large scale and available immediately for delivery to participating sites in
order to meet the growing demand for hydrogen fuel. The success of these
stations will build increased confidence in the hydrogen vehicle market for

both
consumers and investors.

Critical Accounting Policies, Judgments and Estimates

There were no material changes to our critical accounting policies and estimates during the interim period ended March 31, 2022.


Please see our Annual Report on Form 10-K for the year ended June 30, 2021 filed
on October 13, 2021, for a discussion of our critical accounting policies and
estimates and their effect, if any, on the Company's financial results.



33

Components of our Results of Operations





Revenues




We generate revenue through three sources: (i) through the sale of consumer
products either wholesale or direct to consumer through the Company's ecommerce
sites, (ii) through the logistics services we offer through our wholly owned
subsidiary, Market on Main, and (iii) through consulting services we may provide
for publicly traded companies.



Cost of Revenues



Our cost of revenues includes inventory costs, materials and supplies costs,
internal labor costs and related benefits, subcontractor costs, depreciation,
overhead and shipping and handling costs.

Selling, General and Administrative Expenses

Selling, general and administrative expenses consist of selling, marketing, advertising, payroll, administrative, finance and professional expenses.





Interest Expense, Net

Interest expense includes the cost of our borrowings under our debt arrangements.





Results of Operations

Three Months Ended March 31, 2022 Compared to Three Months Ended March 31, 2021

The following table sets forth information comparing the components of net (loss) income for the three months ended March 31, 2022 and 2021:





                                     For the Three Months Ended                Period over
                                              March 31,                       Period Change
                                      2022               2021                $               %
Revenue earned
Revenue                            $    11,927       $      15,000     $      (3,073 )   $   -20.49 %
Cost of goods sold                         598                   -               598         100.00 %
Gross profit                            11,329              15,000            (3,671 )       -24.47 %

Operating Expenses:
Officer and director
compensation, including
stock-based compensation of $0,
$10,000, respectively                   20,000              20,000                 -           0.00 %
Depreciation expense                     1,297                 758               539          71.11 %
Consulting services                     37,800               1,700            36,100       2,123.53 %
Professional services                   28,189              81,662           (53,473 )       -65.48 %
Selling, general and
administrative                          36,584              17,056            19,528         114.49 %

Total operating expenses               123,870             121,176             2,694           2.22 %

Loss from operations                  (112,541 )          (106,176 )          (6,365 )        -5.99 %

Other income (expenses):
Interest income                          6,000                   -             6,000         100.00 %
Forgiveness of debt and accrued
interest                                     -             336,786          (336,786 )      -100.00 %
(Loss) gain on derivative
liability                              (84,948 )        18,937,780       (19,022,728 )      -100.45 %
(Loss) on issuance on notes
payable                                (63,038 )        (2,600,575 )       2,537,537          97.56 %
Interest expense                        (9,428 )           (59,561 )          50,133          84.17 %

Amortization of debt discounts        (119,331 )          (141,704 )

22,373 15.79 %

Total other (expenses) income (270,745 ) 16,472,726 (16,743,471 ) -101.64 %



(Loss) gain before provision for
income taxes                          (383,286 )        16,366,550       (16,749,836 )      -102.34 %

Provision for income taxes                   -                   -                 -              - %

Net (loss) gain                    $  (383,286 )     $  16,366,550     $ (16,749,836 )   $  -102.34 %




Revenue




Revenues generated for the three months ended March 31, 2022 and 2021 were
$11,927 and $15,000, respectively. For the three months ended March 31, 2022,
revenue was derived from consulting services as well as sales generated under
the Company's Exclusive Distribution Agreement with Amfluent, LLC.



Cost of Revenues



For the three months ended March 31, 2022 and 2021, cost of revenues was $598
and $-, respectively. The cost of revenues for the three months ended March 31,
2022 increased over the prior year period due to the initiation of sales of the
"Sculpt Baby" product sold under its Exclusive Distribution Agreement with
Amfluent, LLC.



Gross Profit

For the three months ended March 31, 2022 and 2021, gross profit was $11,329 and $15,000, respectively.





Operating Expenses



Operating expenses were $123,870 and $121,176 for the three months ended March
31, 2022 and 2021, respectively, representing an increase of $2,694, or 2.22%.
The Company's selling, general and administrative expenses increased due to the
operations of the Company's subsidiary, Market on Main, LLC.



Operating loss

Operating loss was ($112,541) and ($106,716) for the three months ended March 31, 2022 and 2021, respectively, representing an increase of $6,365, or 5.99%.





Other (Expenses) Income



Other income was ($270,745) and $16,472,726 for the three months ended March 31,
2022 and 2021, respectively, representing a decrease of $16,743,471, or 101.64%.
The other (expenses) income for the three months ended March 31, 2022 included
amortization of debt discounts of ($119,331), interest expense of ($9,428), loss
on derivative liability of ($84,948), loss on issuance of notes payable of
($63,038) offset by interest income of $6,000.



Income tax expense

There was no income tax expense for the three months ended March 31, 2022 and 2021.





Net income

Net (loss) income was ($383,286) and 16,366,550 for the three months ended March 31, 2022 and 2021, respectively, representing a decrease of $16,749,836, or 102.34%.





34

Nine Months Ended March 31, 2022 Compared to Nine Months Ended March 31, 2021

The following table sets forth information comparing the components of net (loss) income for the nine months ended March 31, 2022 and 2021:





                                                                                   Period over
                                   For the Nine Months Ended March 31,            Period Change
                                         2022                 2021               $              %
Revenue earned
Revenue                            $        106,927       $      15,000     $    91,927     $   612.85 %
Cost of goods sold                              598                   -             598         100.00 %
Gross profit                                106,329              15,000          91,329         608.86 %

Operating Expenses
Officer and director
compensation, including
stock-based compensation of $0,
$10,000, $0 and $40,000,
respectively                                110,087              60,000          50,087          83.48 %
Depreciation expense                          3,895               2,274           1,621          71.28 %
Consulting services                          37,800               1,700          36,100       2,123.53 %
Professional services                        74,169             101,412         (27,243 )       -26.86 %
Selling, general and
administrative                               95,836             161,766         (65,930 )       -40.76 %

Total operating expenses                    321,787             327,152          (5,365 )        -1.64 %

Income (Loss) from operations              (215,458 )          (312,152 )        96,694          30.98 %

Other income (expenses)
Investment income from Global
Clean Solutions, LLC                              -              12,197         (12,197 )      -100.00 %
Interest income                               6,277                   -           6,277         100.00 %
Forgiveness of debt and accrued
interest                                    449,294             336,786         112,508          33.41 %
Gain (loss) on derivative
liability                                   478,047             433,147          44,900          10.37 %
Gain (loss) on issuance on notes
payable                                    (217,393 )        (2,715,865 )     2,498,472          92.00 %
Interest expense                            (51,084 )          (150,965 )        99,881          66.16 %
Amortization of debt discounts             (381,013 )          (763,883 )

382,870 50.12 %


Total other income (expenses)               284,128          (2,848,583 )

3,132,711 109.97 %



Gain (loss) before provision for
income taxes                                 68,670          (3,160,735 )     3,229,405         102.17 %

Provision for income taxes                                            -               -              - %

Net gain (loss)                    $         68,670       $  (3,160,735 )   $ 3,229,405     $   102.17 %




Revenue



Revenues generated for the nine months ended March 31, 2022 and 2021 were
$106,927 and $15,000, respectively. The Company's revenue increased for the nine
months ended March 31, 2021 as the Company's consulting revenue increased and
the Company initiated the sales under its Exclusive Distribution Agreement

with
Amfluent, LLC.



Cost of Revenues

For the nine months ended March 31, 2022 and 2021, cost of revenues was $598 and $-, respectively.





Gross Profit

For the nine months ended March 31, 2022 and 2021, gross profit was $106,329 and $15,000, respectively.





Operating Expenses

Operating expenses were $321,787 and $327,152 for the nine months ended March 31, 2022 and 2021, respectively, representing a decrease of $5,365, or 1.64%.





Operating loss

Operating loss was ($215,458) and ($312,152) for the nine months ended March 31, 2022 and 2021, respectively, representing a decrease of $96,694, or 30.98%.





35







Other (Expenses) Income




Other (expenses) income were $284,128 and ($2,848,583) for the nine months ended
March 31, 2022 and 2021, respectively, representing an increase of $3,132,711,
or 109.97%. The other (expenses) income for the nine months ended March 31, 2021
included amortization of debt discounts of ($381,013), interest expense of
($51,084), loss on issuance of notes payable of ($217,393) offset by gain on
derivative liability of $478,047, interest income of $6,277 and forgiveness of
debt and accrued interest of $449,294.



Income tax expense

There was no income tax expense for the nine months ended March 31, 2022 and 2021.





Net loss

Net income (loss) was $68,670 and ($3,160,735) for the nine months ended March 31, 2022 and 2021, respectively, representing an increase of $3,229,405, or 102.17%.

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