Pool Safe : Q2 2023 Financials - June 30, 2023

CONSOLIDATED INTERIM CONDENSED

FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED

JUNE 30, 2023 AND 2022

(EXPRESSED IN CANADIAN DOLLARS)

Notice to Reader

The accompanying unaudited condensed interim financial statements of Pool Safe Inc. (the "Company") have been prepared by and are the responsibility of management. The unaudited condensed interim financial statements have not been reviewed by the Company's auditors.

POOL SAFE INC.

CONSOLIDATED INTERIM FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2023 AND 2022

(EXPRESSED IN CANADIAN DOLLARS - UNAUDITED)

INDEX	PAGE
Consolidated Interim Condensed Statements of Financial Position	1
Consolidated Interim Condensed Statements of Operations and Comprehensive Loss	2
Consolidated Interim Condensed Statements of Changes in Equity	3
Consolidated Interim Condensed Statements of Cash Flows	4
Notes to the Consolidated Interim Condensed Financial Statements	5

Pool Safe Inc.

Consolidated Condensed Interim Statements of Financial Position

(Expressed in Canadian Dollars - Unaudited)

		June 30,		December 31,
AS AT	Note	2023		2022
ASSETS
Current
Cash and cash equivalents	$	801,248	$	221,096
Receivables	5	243,825		33,343
Prepaids		69,349		-
Inventory	6	244,555		210,532
Total current assets		1,358,977		464,971
Equipment	7	129,823		156,140
Revenue share assets	8	683,493		599,793
TOTAL ASSETS	$	2,172,293	$	1,220,904
LIABILITIES AND EQUITY
Current
Trade payables and other liabilities	9 &14 $	171,210	$	258,006
Current portion of lease liability	10	32,020		33,464
Promissory notes	12	-		-
Current portion of loans	11	1,010,000		993,399
Total current liabilities		1,213,266		1,284,869
Lease liability	10	27,430		45,337
Long term portion of loans payable	11	2,066,049		902,990
Total liabilities		3,306,745		2,233,196
Going concern	2(a)
Subsequent event	20
Shareholders' Equity
Share capital	13	4,055,837		4,033,337
Warrants		417,741		221,899
Reserves		444,132		393,365
Accumulated deficit		(6,052,126)		(5,660,893)
Total equity		(1,134,416)		(1,012,292)
TOTAL LIABILITIES AND EQUITY	$	2,172,293	$	1,220,904

These consolidated financial statements are approved on behalf of the Board of Directors:

(Signed) "David Berger"

Director

(Signed) "Steven Glaser"

Director

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

1

Pool Safe Inc.

Consolidated Condensed Interim Statements of Operations and Comprehensive Loss (Expressed in Canadian Dollars - Unaudited)

	Three Months Ended June 30,	Six Months Ended June 30,
	2023	2022	2023	2022
	$	$	$	$
Revenue	322,484	260,044	414,597	330,420
Cost of Sales	127,698	58,347	249,031	137,633
Gross Profit	194,786	201,697	165,566	192,787
Expenses
Selling, general and administrative	143,262	125,278	256,303	203,218
Stock-based compensation	2,193	-	50,767	-
Professional fees	5,850	17,721	40,775	23,621
Regulatory	4,662	6,566	19,443	8,082
Advertising and promotion	20,823	-	26,041	3,654
Depreciation and amortization	1,624	7,721	6,496	17,717
Foreign exchange loss (gain)	(2,827)	337	(3,061)	329
Interest and accretion expense	80,389	31,715	160,035	80,714
	255,976	189,338	556,799	337,335
Net gain (loss) and comprehensive	(61,190)	12,359	(391,233)	(144,548)
gain (loss)
Weighted average shares outstanding,	89,979,750	89,229,750	89,433,794	89,229,750
basic and diluted
Basic and diluted loss per share	(0.00)	0.00	(0.00)	(0.00)

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

2

Pool Safe Inc.

Consolidated Condensed Interim Statements of Changes in Shareholders' Equity

(Expressed in Canadian Dollars - Unaudited)

				Share-
				based
	Number	Share		payments	Accumulated
	of shares	Capital	Warrants	reserve	deficit	Total
Balance at December 31, 2021	89,229,750	$ 4,033,337	$ 136,269	$ 337,782	$ (5,005,266)	$ (497,878)
Warrants expired	-	-	(58,059)	-	58,059	-
Net loss	-	-	-	-	(144,548)	(144,548)
Balance at June 30, 2022	89,229,750	4,033,337	78,210	337,782	(5,091,755)	(642,426)
Warrants issued for debt financing	-	-	143,689	-	-	143,689
Stock-based compensation	-	-	-	55,583	-	55,583
Net loss	-	-	-	-	(569,138)	(569,138)
Balance at December 31, 2022	89,229,750	4,033,337	221,899	393,365	(5,660,893)	(1,012,292)
Shares issued	750,000	22,500	-	-	-	-
Warrants issued for debt financing	-	-	195,842	-	-	195,842
Stock-based compensation	-	-	-	50,767	-	50,767
Net loss	-	-	-	-	(391,233)	(391,233)
Balance at June 30, 2023	89,979,750	$ 4,055,837	$ 417,741	$ 444,132	$ (6,052,126)	$ (1,134,416)

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

3