Charge Enterprises Inc. Financial Statements - June 30, 2021 - Restated November 12, 2021

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Charge Enterprises, Inc.

(Formerly TransWorld Holdings, Inc.

And GoIP Global, Inc.)

and Subsidiaries

CONSOLIDATED FINANCIAL STATEMENTS

For the Six Months Ended

June 30, 2021

CHARGE ENTERPRISES, INC.

(FORMERLY TRANSWORLD HOLDINGS, INC. AND GOIP GLOBAL, INC.)

AND SUBSIDIARIES

FOR THE SIX MONTHS ENDED JUNE 30, 2021

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
Consolidated Financial Statements
Consolidated Balance Sheets at June 30, 2021 (Unaudited) and December 31, 2020 (As Restated)	F-1
Consolidated Statements of Operations (Unaudited) for the three and six months ended June 30, 2021 and 2020	F-2
(As Restated)
Consolidated Statements of Comprehensive Loss (unaudited) for the six months ended June 30, 2021 and 2020 (As	F-3
Restated)

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) for the six months ended June 30, 2021	F-4-F-5
and 2020 (As Restated)
Consolidated Statements of Cash Flows (Unaudited) for the six months ended June 30, 2021 and 2020 (As Restated)	F-6
Notes to Unaudited Consolidated Financial Statements	F-7

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and

Stockholders of Charge Enterprises, Inc.

Results of Review of Interim Financial Information

We have reviewed the consolidated balance sheets of Charge Enterprises, Inc. and subsidiaries (the Company) as of June 30, 2021, and the related consolidated statements of operations, comprehensive income (loss), and stockholders equity and cash flows for the six-months ended June 30, 2021 and 2020, and the related notes (collectively referred to as the interim consolidated financial statements). Based on our reviews, we are not aware of any material modifications that should be made to the accompanying interim consolidated financial statements for them to be in conformity with accounting principles generally accepted in the United States of America.

We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States)(PCAOB), the balance sheet of the Company at December 31, 2020, and the related statements of operations, comprehensive income (loss), changes in stockholders' equity and cash flows for the year the ended (not presented herein); and in our report dated July 13, 2021 (except for note 5 as to which the date is August 17, 2021), we expressed an unqualified opinion on those financial statements. In our opinion, the information set forth in the accompanying consolidated balance sheet as of December 31, 2020, is fairly stated, in all material respects, in relation to the balance sheet from which it has been derived.

Basis for Review Results

These interim consolidated financial statements are the responsibility of the Company's management. We conducted our review in accordance with the standards of the PCAOB. A review of interim financial information consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with standards of the PCAOB, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

s Seligson & Giannattasio, LLP

Seligson & Giannattasio, LLP White Plains, New York

October 22, 2021 (except for Note 3 as to which the date is November 9, 2021)

CHARGE ENTERPRISES, INC.

(FORMERLY TRANSWORLD HOLDINGS, INC. AND GOIP GLOBAL, INC.)

AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

		(As Restated)
		June 30, 2021
		(Unaudited)		December 31, 2020
ASSETS
Current assets
Cash and cash equivalents	$	10,046,036		$	11,629,303
Accounts receivable, net		64,799,923			64,129,327
Inventory		196,544			-
Deposits and prepaids		677,755			370,081
Other current assets net		359,945			227,307
Investment in marketable securities		10,170,036			3,249,710
Investment in non-marketable securities		248,485			149,262
Accrued revenue		2,274,442			-
Total current assets		88,773,166			79,754,990
Property, plant and equipment, net		3,120,024			1,774,176
Capital lease asset		216,876			-
Right-of-use asset		586,603			-
Non-current assets		-			259,157
Goodwill		30,812,563			17,175,990
Deferred tax asset		3,638,389			443,006
Total assets	$	127,147,621		$	99,407,319
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	73,076,997		$	69,914,181
Accrued liabilities		1,867,661			785,172
Deferred revenue		-			3,455,886
Convertible notes payable, net of discount		2,727,912			1,436,144
Convertible notes payable, related party, net of discount		-			275,984
Line of credit		1,081,553			-
Related party payable		-			189,312
Derivative liabilities		-			749,600
Capital lease liability		168,468			-
Lease liability		175,980			-
Total current liabilities		79,098,571			76,806,279
Non-current liabilities:
Lease liability, non-current		406,081			-
Notes payable, net of discount		10,078,997			-
Convertible notes payable, net of discount		3,319,598			1,947,945
Total liabilities		92,903,247			78,754,224
Mezzanine Equity
Series B Preferred Stock, 2,395,105 authorized; 2,395,105 and 0 shares
issued and outstanding as of June 30, 2021 and December 31, 2020		6,850,000			-

Commitments and contingencies

Stockholder's Equity

Preferred stock, $0.001 par value, 10,000,000 shares authorized;

	Series A: 100,000 authorized; 1,000,000 and 0 shares issued and
	outstanding at June 30, 2021 and December 31, 2020			1,000			1,000
	Common stock, $0.001 par value; 6,800,000,000 shares authorized
	152,279,063 and 140,018,383 issued and outstanding at June 30, 2021
	and December 31, 2020			152,278			140,018
Common stock to be issued, 5,421,302 and 13,425,750 shares at June 30, 2021 and December
31, 2020				5,422			13,426
Additional paid in capital			91,066,415			72,583,222
Accumulated other comprehensive income (loss)			(21,711)			60,375
Accumulated deficit			(63,809,030)			(52,144,946)
	Total stockholders' equity			27,394,374			20,653,095
Total liabilities and stockholders' equity		$	127,147,621		$	99,407,319

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

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