Banneker : 2021 Financial Statements with Notes and Disclosure Statement

Balance Sheet (Unaudited and Unreviewed)

December 31, 2021 ____________________________________________________

ASSETS

Current Assets Checking'Savings

Bank - Operating Account

$

8,952

Total Checking/Savings 8,952

Other Current Assets

Inventory

$

110,300

Total Other Current Assets 110,300

Total Current Assets 119,252

Fixed Assets

Furniture and Equipment 5,971

Intangible Assets 750,000

Total Fixed Assets 755,971

Total Assets

LIABILITIES AND CAPITAL

Current liabilities

$

875,223

Short-term notes payable 24,326

Capital

Stockholders Equity

Common Stk $ 485,431

Preferred Stock $ 39,346

Retained earnings 327,055

Net Income

(935)Total Capital 850,897

Total Liabilities & Capital

875,223

Income Statement (Unaudited and Unreviewed)

For the Year ended December 31, 2021 __________________________

Ordinary Income
Sales	288,753
Total Income	288,753
Cost of goods Sold
Purchases	87,871
Total Cost of Sales	87,871
Gross Profit	200,882
Expenses
Advertising And Promotions	11,918
Consulting	32,130
Legal Expense	9,425
Insurance Expense	6,519
Internet and Related	22,830
Meals and Entertainment	35,394
Payroll Expenses	41,400
Postage and Delivery	18,678
Telephone Expense	10,131
Transportation	10,950
Travel Expense	2,442
Total Expenses	201,817
Net Income	(935)

Banneker, Inc.

Statements of Changes in Retained Earnings and Stockholders' Equity

December 31, 2021

Shareholders' Equity

Retained Earnings - Beginning

Plus: Net Income (Loss) Retained Earnings

One Time Adjustment

$

363,635

(935) 362,700 (35,645)Retained Earnings - Ending 327,055

Comon Stock:

49,830,000,000, Shares authorized,

42,350,569,379 shares outstanding 485,431

Preferred Stock:

Series A preferred 10,000,000 shares

authorized, 1 share outstanding 3,279

Series B preferred 90,000,000 shares

authorized, 443,000 shares outstanding 29,510

Series C preferred 20,000,000 shares

authorized, 397,000 outstanding. 6,558

Series D preferred 2,000,000 shares authorized, 0 shares outstanding.

Shareholders Equity - December 31, 2021

$

851,833

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

- 4 -

Banneker, Inc.

Statement of Cash Flows - (Unaudited and Unreviewed)

For the Year ended December 31, 2021 ____________________________________________________

OPERATING ACTIVITIES

Net Income	$	(935)
Adjustments to reconcile net Income
to net cash provided by operations:
(Increase)Decrease in inventory	46,450
(Decrease)Increase in notes payable	(41,114)
Net cash provided by Operating Activities	4,401
INVESTING ACTIVITIES
Furniture and Equipment	-
Intangible Assets	-
Net cash provided by investing Activities	-
FINANCING ACTIVITIES
Preferred Stock	-
Change in Retained earnings
Net cash provided by Financing Activities	-
Net cash increase(Decreaase) for the period	4,401
Cash - beginning of period	4,551
Cash at end of the period	$	8,952

The accompanying notes are an integral part of these financial statements - 5 -

BANNEKER, INC.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2021

Note 1-Nature of Organization

Banneker Inc., (BANI) is a watch making and wholesale jewelry company founded on the principal that fashion, elegance, and watch design can all converge together to create a work of art. The company is an Internal Revenue Code "C" corporation incorporated in the state of California April 2, 1996.

Note 2- Summary of Significant Accounting Policies: Basis of Accounting

These financial statements are presented on the accrual method of accounting in accordance with accounting principles generally accepted in the United States.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash held in checking accounts, and cash in money market accounts with maturities of ninety days or less. At year-end and throughout the year, the organization's cash balances were deposited in several banks. Management believes the Organization is not exposed to significant credit risk on cash and cash equivalents.

Cash Flows

For purposes of the statements of cash flows, BANI considers all highly liquid instruments purchased with maturity of three months or less to be cash equivalents.

Property

Property is stated at cost at date of acquisition. Property is depreciated or amortized using the straight-line method over its estimated useful lives as follows: equipment 5 years, and leasehold improvements over the life of the lease. BANI capitalizes substantially all property acquisitions in excess of $500 in value.