IDP Holdings (USA) Corp.

CIK:0001697587|SEC Filings

CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		9 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Feb. 28, 2022	Feb. 28, 2021
CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)
General And Administrative Expenses	$ 666,714	$ 12,852,422	$ 36,395,938	$ 19,266,106
Loss From Operations	(666,714)	(12,852,422)	(36,395,938)	(19,266,106)
Other Income (expense)
Amortization Of Intangible Asset	(458,259)	(458,259)	(1,374,768)	(1,374,772)
Foreign Currency Transaction Gain (loss)	27,069	(15,634)	39,968	(60,004)
Total Other Expense - Net	(485,328)	(442,625)	(1,414,736)	(1,314,768)
Net Loss	$ (1,152,042)	$ (13,295,047)	$ (37,810,674)	$ (20,580,874)
Loss Per Share - Basic And Diluted	$ (0.00)	$ (0.03)	$ (0.07)	$ (0.04)
Weighted Average Number Of Shares - Basic And Diluted	531,933,749	501,420,070	522,495,929	499,168,752

CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	3 Months Ended		9 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Feb. 28, 2022	Feb. 28, 2021
Operating Activities
Net Loss	$ (1,152,042)	$ (13,295,047)	$ (37,810,674)	$ (20,580,874)
Adjustments To Reconcile Net Loss To Net Cash Used In Operations
Amortization Of Operating Lease - Right-of-use Asset	24,258	24,258	72,774	72,775
Amortization Of Intangible Rights	458,259	458,259	1,374,768	1,374,772
Common Stock Issued For Services	0	5,660,644	29,924,818	9,692,559
Common Stock Issued For Services - Related Parties	0	6,545,712	3,800,000	8,000,000
Recognition Of Stock Based Compensation			402,500	0
(increase) Decrease In
Prepaid And Other Current Assets	739	(1,371)	14,906	99,040
Increase (decrease) In
Accounts Payable And Accrued Expenses	526,368	(229,662)	2,707,644	(83,241)
Accrued Compensation - Related Parties	337,500	325,000	1,102,083	1,058,333
Operating Lease Liability	(34,639)	(23,692)	(84,448)	(68,012)
Net Cash Used In Operating Activities	160,443	(535,899)	1,504,371	(434,652)
Investing Activities
Advances - Related Party	4,371	0	(803,189)	(296,867)
Advances - Joint Ventures	470	(237,966)	(63,490)	0
Purchase Of Equipment	0	0	(472,812)	0
Net Cash Used In Investing Activities	4,841	(237,966)	(1,339,491)	(296,867)
Financing Activities
Advances - Loan Payable - Related Party	28,780	797,403	51,831	797,403
Repayments - Loan Payable - Related Party	0	0	(137,331)	0
Additional Paid In Capital	(206,084)		30,549,639
Debt Conversion	0	0	(39,693,970)
Stock Issued For Debt Conversion			9,035,671
Stock Issued For Cash - Net Of Offering Costs Of $0 And $22,500, Respectively	0	0		0
Expensed Paid On Behalf Of Former Subsidiary - Related Party	0	0	0	(26,817)
Net Cash Provided By Financing Activities	(177,304)	797,403	(194,160)	770,586
Net Increase (decrease) In Cash	(12,020)	23,538	(29,280)	39,067
Cash - Beginning Of Year	17,348	17,348	34,608	1,819
Cash - End Of Year	5,328	40,886	5,328	40,886
Cash Paid For Interest	0	0	0	0
Cash Paid For Income Tax	$ 0	$ 0	$ 0	$ 0

CONDENSED BALANCE SHEETS - USD ($)	Feb. 28, 2022	May 31, 2021
Current Assets
Cash And Cash Equivalents	$ 5,328	$ 34,608
Prepaid And Other Current Assets	83,847	98,753
Total Current Assets	89,175	133,361
Due From Related Party	1,732,652	929,463
Joint Ventures	93,371	29,881
Property, Plant And Equipment - Net	3,833,741	3,223,598
Operating Lease - Right-of-use Asset	169,805	242,579
Intangible Rights	40,021,182	41,395,950
Total Assets	45,939,926	45,954,832
Current Liabilities
Accounts Payable And Accrued Expenses	5,005,022	2,297,378
Accrued Compensation - Related Parties	4,239,433	3,137,350
Common Stock Payable (400,000 Shares)	800,000	800,000
Loan Payable - Related Party	51,831	39,693,970
Operating Lease Liability	103,688	101,642
Total Current Liabilities	10,199,974	46,030,340
Operating Lease Liability	82,005	168,499
Total Liabilities	10,281,979	46,198,839
Retained Earnings/stockholders' Deficit
Common Stock, No Par Value, Unlimited Shares Authorized 531,933,749 And 510,553,509 Shares Issued And Outstanding, Respectively	178,645,296	135,884,807
Additional Paid-in Capital	29,736,666	(1,215,473)
Accumulated Deficit	(172,724,015)	(134,913,341)
Total Retained Earnings/stockholders' Deficit	35,657,947	(244,007)
Total Liabilities And Stockholders' Deficit	$ 45,939,926	$ 45,954,832