House of Jane : Unaudited Quarterly Financial Statements - May 31, 2022

HOUSE OF JANE INC. AND SUBSIDIARIES

QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS

MAY 31, 2022

- UNAUDITED -

HOUSE OF JANE INC. AND SUBSIDIARIES

OFFICER CERTIFICATIONS

May 31, 2022

- UNAUDITED -

I, Frederic J. Buonincontri, certify that:

I have reviewed House of Jane Inc. and Subsidiaries' unaudited interim consolidated financial statements as of May 31, 2022 and for the six months ended May 31, 2022 and 2021. Based on my knowledge, the unaudited interim consolidated financial statements, and other financial information included herein, fairly present in all material respects the financial condition, results of operations and cash flows of House of Jane Inc. and Subsidiary as of and for the periods presented.

/s/ Frederic J. Buonincontri		July 19, 2022
Frederic J. Buonincontri		Date
President

I, Lanny R. Lang, certify that:

I have reviewed House of Jane Inc. and Subsidiaries' unaudited interim consolidated financial statements as of May 31, 2022 and for the six months ended May 31, 2022 and 2021. Based on my knowledge, the unaudited interim consolidated financial statements, and other financial information included herein, fairly present in all material respects the financial condition, results of operations and cash flows of House of Jane Inc. and Subsidiary as of and for the periods presented.

/s/ Lanny R. Lang		July 19, 2022
Lanny R. Lang		Date
Chief Financial Officer

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HOUSE OF JANE INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

- UNAUDITED -

		May 31,		November 30,
		2022		2021
ASSETS
Current assets:
Cash and cash equivalents	$	27,864	$	15,871
Accounts receivable		13,469		10,530
Prepaid expenses and other current assets		1,973		2,278
Vendor deposits		17,932		15,265
Inventories		79,468		49,766
Total current assets		140,706		93,710
Property and equipment, net		1,115		2,420
Intellectual property intangible assets, net		29,919		40,479
Total assets	$	171,740	$	136,609
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable and accrued liabilities	$	59,199	$	47,474
Accounts payable to related parties		65,649		45,452
Accrued management fees		22,000		25,000
Accrued payroll and payroll taxes		13,959		14,984
Customer deposits		40,326		20,529
Accrued interest payable		60,729		49,748
Accrued interest payable to related parties		78,648		57,854
Notes payable to related party		208,000		210,500
Total current liabilities		548,510		471,541
Long-term liabilities:
Notes payable, long-term		340,623		340,623
Convertible notes payable to related parties		44,000		44,000
Convertible notes payable		125,000		125,000
Total long-term liabilities		509,623		509,623
Total liabilities		1,058,133		981,164
Stockholders' deficit:
Preferred stock - undesignated; 10,000,000 shares authorized		-		-
Common stock, $.001 par value; 190,000,000 shares
authorized, 11,031,895 shares issued and outstanding for
both periods		11,032		11,032
Additional paid-in-capital		2,501,239		2,465,114
Accumulated deficit		(3,398,664)		(3,320,701)
Total stockholders' deficit		(886,393)		(844,555)
Total liabilities and stockholders' deficit	$	171,740	$	136,609

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

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HOUSE OF JANE INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

- UNAUDITED -

		For the three months		For the six months
		ended May 31,		ended May 31,
		2022		2021		2022		2021
REVENUES
Product sales	$	77,535	$	14,870	$	157,588	$	26,245
Total revenues		77,535		14,870		157,588		26,245
COSTS OF REVENUES
Cost of Product sold		35,657		6,283		71,623		8,514
Total costs of revenues		35,657		6,283		71,623		8,514
GROSS MARGIN		41,878		8,587		85,965		17,731
OPERATING EXPENSES
General and administrative		45,752		63,521		97,604		138,330
Sales and marketing		4,685		6,913		10,334		9,576
Professional fees		6,000		13,642		12,350		24,333
Depreciation and amortization		5,923		5,981		11,865		11,976
Total operating expenses		62,360		90,057		132,153		184,215
LOSS FROM OPERATIONS		(20,482)		(81,470)		(46,188)		(166,484)
OTHER INCOME (EXPENSE):
Interest expense		(15,986)		(14,995)		(31,775)		(28,795)
Total other income (expense)		(15,986)		(14,995)		(31,775)		(28,795)
NET LOSS	$	(36,468)	$	(96,465)	$	(77,963)	$	(195,279)
BASIC AND DILUTED NET
LOSS PER SHARE	$	-	$	(0.01)	$	(0.01)	$	(0.02)
BASIC AND DILUTED
WEIGHTED AVE. NUMBER
OF SHARES OUTSTANDING		11,031,985		10,381,895		11,031,985		10,418,507

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

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HOUSE OF JANE INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT

For the six months ended May 31, 2022

- UNAUDITED -

		Common Stock				Accumulated
	Shares		Par Value	Paid-in Capital		Deficit		Total
Balance at November 30, 2021	11,031,895	$	11,032	$	2,465,114	$	(3,320,701)	$	(844,555)
Stock-based compensation on restricted
stock awards vested	-		-		22,750		-		22,750
Net loss	-		-		-		(41,495)		(41,495)
Balance at February 28, 2022	11,031,895		11,032		2,487,864		(3,362,196)		(863,300)
Stock-based compensation on restricted
stock awards vested	-		-		13,375		-		13,375
Net loss	-		-		-		(36,468)		(36,468)
Balance at May 31, 2022	11,031,895	$	11,032	$	2,501,239	$	(3,398,664)	$	(886,393)

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

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