NOTES TO THE UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED MARCH 31, 2022
| 1. | Nature of Operations and Continuance of Business |
Cannonau Corp. (the “Company”)
was incorporated under the laws of the State of Nevada on April 3, 2007 as Pacific Blue Energy
Corp. On April 5, 2010, the Company acquired a 100% interest of Ship Ahoy LLC, a limited liability company in Arizona, in
exchange for $300,000 and 1,000,000 common shares of the Company. This investment was subsequently abandoned by the Company and
therefore no longer reflecting in these financial statements. The Company is currently developing
CBD based products. On August 22, 2019, the Company changed its' name to Cannonau Corp. to reflect its' focus on its new CBD based products.
Going Concern
These financial statements have been prepared
on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal
course of business. The Company has not generated sufficient revenues to date to cover its operating cost and has never paid any dividends
and is unlikely to pay dividends or generate significant earnings in the immediate or foreseeable future. As of March 31, 2022, the Company
had minimal revenues and an accumulated deficit of $3,721,096. The continuation of the Company as a going concern is dependent upon the
continued financial support from its shareholders, the ability to raise equity or debt financing, and the attainment of profitable operations
from the Company's future business. These factors raise substantial doubt regarding the Company’s ability to continue as a going
concern for a period of one year from the issuance of these financial statements. These financial statements do not include any adjustments
to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the
Company be unable to continue as a going concern.
| 2. | Summary of Significant Accounting Policies |
| a) | Basis of Presentation and Principles of Consolidation |
These financial statements and related notes
are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and are
expressed in US dollars. The Company’s fiscal year-end is December 31.
The preparation of financial statements
in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and
assumptions related to the recoverability of its long-lived assets, stock-based compensation, and deferred income tax asset valuation
allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it
believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values
of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced
by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between
the estimates and the actual results, future results of operations will be affected.
| c) | Cash and Cash Equivalents |
The Company considers all highly liquid
instruments with maturity of three months or less at the time of issuance to be cash equivalents.
9
CANNONAU CORP.
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED MARCH 31, 2022
Management uses the 5 steps framework of
ASC 606 to recognize revenue, as follows:
| 1. | Identify contract with customer |
| a. | Approval (in writing, orally, or in accordance with other customary business
practices) and commitment of the parties; |
| b. | Identification of the rights of the parties; |
| c. | Identification of the payment terms; |
| d. | Contract has commercial substance; and |
| e. | Probable that the entity will collect the consideration to which it will
be entitled in exchange for the product that will be transferred to the customer. |
| 2. | Identify performance obligations |
| a. | At contract inception, management assesses the product promised in a contract
with a customer and identifies each promise as a performance obligation to transfer to the customer either: a) A product (or a bundle
of products) that is distinct b) A series of distinct products that are substantially the same and that have the same pattern of transfer
to the customer |
| 3. | Determined expected transaction price |
| a. | The transaction price is the amount of consideration to which an entity
expects to be entitled in exchange for transferring promised goods to a customer |
| 4. | Allocate to performance obligations |
| a. | Once the separate performance obligations are identified and the transaction
price has been determined, management allocates the transaction price to the performance obligations in proportion to their standalone
selling prices |
| 5. | Recognize revenue upon transfer of control over goods |
| a. | management recognizes revenue only when it satisfies a performance obligation
by transferring a promised good to a customer. A good or service is considered to be transferred when the customer obtains control. |
| b. | The standard defines control as an entity’s ability to direct the
use of, and obtain substantially all of the remaining benefits from, an asset. |
| c. | Control is assessed primarily from the customer’s perspective. |
Amounts that will be recorded as cost of
sales relate to direct expenses incurred in order to fulfill orders of our customers. Such costs are recorded and allocated as incurred.
Our cost of sales will consist primarily of the cost of material consumed to make that product.
| f) | Basic and Diluted Net Loss Per Share |
The Company computes net loss per share
in accordance with ASC 260, Earnings Per Share, which requires presentation of both basic and diluted earnings per share
(EPS) on the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by
the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential
common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method.
In computing Diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from
the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.
10
CANNONAU CORP.
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED MARCH 31, 2022
ASC 820, “Fair Value Measurements”, requires
an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. It establishes
a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial
instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair
value measurement. It prioritizes the inputs into three levels that may be used to measure fair value:
Level 1
Level 1 applies to assets or liabilities
for which there are quoted prices in active markets for identical assets or liabilities.
Level 2
Level 2 applies to assets or liabilities
for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets
or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent
transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally
from, or corroborated by, observable market data.
Level 3
Level 3 applies to assets or liabilities
for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the
assets or liabilities.
The Company’s
financial instruments consist principally of cash, accounts payable, and amounts due to related parties. Pursuant to ASC 820, the fair
value of our cash is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical
assets. We believe that the recorded values of all of our other financial instruments approximate their current fair values because of
their nature and respective maturity dates or durations.
Inventories
are stated at the lower of cost and net realizable value. Cost is determined using the first in first out method and net realizable value
is the estimated selling price less costs of disposal in the ordinary course of business. The cost of inventories includes direct costs
plus shipping and packaging materials.
| i) | Stock-based compensation |
In
accordance with ASC No. 718, Compensation – Stock Compensation (“ASC 718”), the Company measures the compensation costs
of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the
period during which employees are required to provide services.
During
the period ended March 31, 2022 there were no stock based awards issued or outstanding.
11
CANNONAU CORP.
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED MARCH 31, 2022
Income taxes are determined in accordance
with the provisions of ASC 740, “Income Taxes” (“ASC 740”). Under this method, deferred tax assets and
liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts
of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income
tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.
Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment
date.
ASC 740 prescribes a comprehensive model
for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected
to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely
than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be
measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the
tax authority assuming full knowledge of the position and relevant facts.
For the period ended March 31, 2022, the
Company did not have any interest and penalties associated with tax positions. As of March 31, 2022, the Company did not have any significant
unrecognized uncertain tax positions.
| k) | Commitments and contingencies |
The Company follows ASC 440 & ASC 450,
subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies and commitments respectively. Certain
conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company, but which will only
be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment
inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the
Company or un-asserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings
or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein.
If the assessment of a contingency indicates
that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability
would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency
is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an
estimate of the range of possible losses, if determinable and material, would be disclosed.
Loss contingencies considered remote are
generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe,
based upon information available at this time, that these matters will have a material adverse effect on the Company’s financial
position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect
the Company’s business, financial position, and results of operations or cash flows.
Certain prior period amounts have
been reclassified to conform to current presentation.
| m) | Recently Issued Accounting Guidance |
The Company has evaluated all the recent
accounting pronouncements through the date the financial statements were issued and filed with the Securities and Exchange Commission
and believe that none of them will have a material effect on the company’s financial statements.
12
CANNONAU CORP.
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED MARCH 31, 2022
Preferred stock
The Company is authorized to issue 10,000,000
shares of Preferred Stock, par value $.001 per share. As of March 31, 2022 and December 31, 2021, no shares of Preferred Stock were issued
and outstanding.
Common stock
The
company is authorized to issue 290,000,000 shares at par value of $.001 per share.
On
May 21, 2019, the Company issued 100,000,000 shares of common stock to settle $5,000 in debt with a related party.
On
November 5, 2019, the Company purchased and retired into treasury 15,000,000 Common Shares from Luniel De Beer for $2,000.
On
January 23, 2020, the Company executed a 2,000 to 1 reverse stock split. All share and per share information has been retroactively
adjusted to reflect this reverse stock split.
On
February 25, 2020, convertible notes to related parties of $3,260 were converted into 9,055,556 shares of common stock.
On
March 20, 2020, convertible notes of $4,370 were converted into 12,138,888 shares of common stock.
On
May 29, 2020, convertible notes to related parties of $1,142 were converted into 30,000,000 shares of common stock.
On
July 6, 2020, convertible notes to related parties of $6,858 were converted into 180,473,684 shares of common stock.
On
July 21, 2020, convertible notes to related parties of $362 were converted into 9,526,316 shares of common stock.
On October 2020, the
Company issued 10,597,222 to the legal custodian in a private placement for $5,299.
During the year 2021, the Company issued
438,454 shares of common stock to its consultants against the consulting services rendered during the year.
As of March 31, 2022 and December 31,
2021, the Company had 241,815,632 shares of common stock issued and outstanding.
13
CANNONAU CORP.
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED MARCH 31, 2022
The Company has a net operating loss carried
forward of approximately $3,721,096 available to offset taxable income in future years which commence expiring in fiscal 2027. The
Company is subject to United States federal and state income taxes at an approximate rate of 21%.
There was no income tax expense for the
period ended March 31, 2022 and December 31, 2021. The reconciliation and the tax effects of temporary differences that give rise to significant
portions of the net deferred tax assets at the U.S. statutory rate of 21% at March 31, 2022 and December 31, 2021 are as follows:
| |
March 31, | |
December 31, |
| |
2022 | |
2021 |
Deferred tax assets | |
| | | |
| | |
Net operating losses | |
| (3,721,096 | ) | |
$ | (3,702,218 | ) |
Deferred tax liability | |
| | | |
| | |
Net deferred tax assets | |
| 781,430 | | |
| 777,466 | |
Less valuation allowance | |
| (781,430 | ) | |
| (777,466 | ) |
Deferred tax asset - net valuation allowance | |
| — | | |
$ | — | |
| |
| | | |
| | |
| 5. | Related Party Transaction |
In support of the Company’s efforts
and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains
adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support
by officers, directors, or shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities and related parties
consist of officers, shareholders and associated entities.
During the period ended March 31, 2022 and
December 31, 2021, related parties loaned the company $21,815 and $91,529 respectively to pay for operating expenses. As at March 31,
2022 and December 31, 2021, the company owed its related parties $264,177 and $242,362 respectively. The loan is non-interest bearing,
due upon demand and unsecured.
| 6. | Commitments and Contingencies |
In response to the COVID-19 pandemic, the
Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) was signed into law in March 2020. The CARES Act lifts certain
deduction limitations originally imposed by the Tax Cuts and Jobs Act of 2017 (“2017 Tax Act”). Corporate taxpayers may carryback
net operating losses (NOLs) originating between 2018 and 2020 for up to five years, which was not previously allowed under the 2017 Tax
Act. The CARES Act also eliminates the 80% of taxable income limitations by allowing corporate entities to fully utilize NOL carryforwards
to offset taxable income in 2018, 2019 or 2020. Taxpayers may generally deduct interest up to the sum of 50% of adjusted taxable income
plus business interest income (30% limit under the 2017 Tax Act) for 2019 and 2020. The CARES Act allows taxpayers with alternative minimum
tax credits to claim a refund in 2020 for the entire amount of the credits instead of recovering the credits through refunds over a period
of years, as originally enacted by the 2017 Tax Act.
In addition, the CARES Act raises the corporate
charitable deduction limit to 25% of taxable income and makes qualified improvement property generally eligible for 15-year cost-recovery
and 100% bonus depreciation. The enactment of the CARES Act did not result in any material adjustments to our income tax provision.
The company has evaluated subsequent events
for recognition and disclosure through June 24, 2022 which is the date the financial statements were available to be issued and has determined
that there are no items to disclose.
14
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATION
FORWARD LOOKING STATEMENTS
This section and other parts of this Form 10-Q quarterly
report includes "forward-looking statements", that involves risks and uncertainties. All statements other than statements of
historical facts, included in this Form 10-Q that address activities, events, or developments that we expect or anticipate will or may
occur in the future, including such things as future capital expenditures (including the amount and nature thereof), business strategy
and measures to implement strategy, competitive strength, goals, expansion and growth of our business and operations, plans, references
to future success, reference to intentions as to future matters, and other such matters are forward-looking statements. In some cases,
you can identify forward-looking statements by terminology such as "may," "will," "should," "expects,"
"plans," "anticipates," "believes," "estimates," "predicts," "potential,"
or "continue," or the negative of such terms or other comparable terminology. These statements are only predictions. Actual
events or results may differ materially. These statements are based upon certain assumptions and analyses made by us in light of our experience
and our perception of historical trends, current conditions and expected future developments as well as other factors that we believe
are appropriate in the circumstances. However, whether actual results and developments will conform to our expectations and predictions
is subject to a number of risks, uncertainties, and other factors, many of which are beyond our control.
Although we believe that the expectations reflected
in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements.
Moreover, we do not assume responsibility for the accuracy and completeness of such forward-looking statements. We are under no duty to
update any of the forward-looking statements after the date of this report to conform such statements to actual results.
OVERVIEW
Cannonau Corp. (the "Company", "we",
or "us") was incorporated under the laws of the State of Nevada on April 3, 2007.
Certain statements contained below are forward-looking
statements (rather than historical facts) that are subject to risks and uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements.
Our auditors have issued a going concern opinion in
the audited financial statements for the year ended December 31, 2021.
RESULTS OF OPERATIONS
WORKING CAPITAL
| |
March 31, | |
December 31, |
| |
2022 | |
2021 |
| |
| |
|
Current Assets | |
| 8,918 | | |
| 8,757 | |
Current Liabilities | |
| 280,081 | | |
| 261,043 | |
Working Capital (Deficit) | |
$ | (271,163 | ) | |
$ | (252,286 | ) |
CASH FLOWS
| |
March 31, | |
December 31, |
| |
2022 | |
2021 |
| |
| |
|
Cash Flows from (used in) Operating Activities | |
$ | (21,601 | ) | |
$ | (136,724 | ) |
Cash Flows from (used in) Financing Activities | |
| 21,815 | | |
| 136,702 | |
Net Increase (decrease) in Cash During Period | |
$ | 214 | | |
$ | (21 | ) |
OPERATING REVENUES
We have generated revenues of $105 and $6,180 for the period ended March
31, 2022 & December 31, 2021 respectively.
15
OPERATING EXPENSES AND NET LOSS
Operating expenses for the three months ended March
31, 2022 were $18,929 compared with $33,812 for the three months ended March 31, 2021. Operating expenses for the three months ended
March 31, 2022 consisted of general and administrative expenses of $2,540 compared to $15,064 for the three months ended March 31, 2021,
compensation expense of $12,606 compared to $15,466 for the three months ended March 31, 2021, and professional fees of $3,783 compared
to $3,282 for the three months ended March 31, 2021.
During the three months ended March 31, 2022, the
Company recorded a net loss of ($18,878) compared with net loss of $(33,847) for the three months ended March 31, 2021.
LIQUIDITY AND CAPITAL RESOURCES
As of March 31, 2022, the Company's cash balance was
$347 compared to cash balance of $143 at December 31, 2021. As of March 31, 2022, the Company's total assets were $8,918 compared to total
assets of $8,757 as at December 31, 2021.
As of March 31, 2022, the Company had total liabilities
of $280,081 compared with total liabilities of $261,043 as of December 31, 2021. Liabilities as of March 31, 2022 consisted of accounts
payable and accrued liabilities of $15,904 compared to $18,681 as of December 31, 2021; and due to related party of $264,177 compared
to $242,362 as of December 31, 2021.
CASHFLOW FROM OPERATING ACTIVITIES
During the three months ended March 31, 2022 the Company
used ($21,601) of cash for operating activities compared to the use of ($32,245) of cash for operating activities during the three months
ended March 31, 2021.
CASHFLOW FROM FINANCING ACTIVITIES
During the three months ended March 31, 2022 the Company
received cash from financing activities of $21,815 as compared to $33,029 during the three months ended March 31, 2021.
SUBSEQUENT DEVELOPMENTS
None.
GOING CONCERN
We have not attained profitable operations and are
dependent upon the continued financial support from our shareholders, the ability to raise equity or debt financing, and the attainment
of profitable operations from our future business. These factors raise substantial doubt regarding our ability to continue as a going
concern.
OFF-BALANCE SHEET ARRANGEMENTS
We have no significant off-balance sheet arrangements
that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues
or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to stockholders.
FUTURE FINANCING
The Company will consider selling securities in the
future to fund operations. There is no assurance that we will achieve any additional sales of the equity securities or arrange for
debt or other financing to fund our operations and other activities.
CRITICAL ACCOUNTING POLICIES
Our consolidated financial statements and accompanying
notes have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis. The
preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the
date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods.
We regularly evaluate the accounting policies and
estimates that we use to prepare our consolidated financial statements. A complete summary of these policies is included in the notes
to our consolidated financial statements. In general, management's estimates are based on historical experience, on information from third
party professionals, and on various other assumptions that are believed to be reasonable under the facts and circumstances. Actual results
could differ from those estimates made by management.
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
The Company has implemented all new accounting pronouncements
that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and
the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material
impact on its financial position or results of operations.
16
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET RISK.
Market risk is the risk of loss from adverse changes
in market prices and rates. The Company's market risk arises primarily from the fact that the area in which we do business is highly competitive
and constantly evolving. The market in which we do business is highly competitive and constantly evolving. We face competition from the
larger and more established companies, from companies that have greater resources, including but not limited to, more money, and greater
ability to expand their markets also cut into our potential customers. Many of our competitors have longer operating histories, significantly
greater financial strength, nationwide advertising coverage and other resources that we do not have.
ITEM 4. CONTROLS AND PROCEDURES
Based on their evaluation of our disclosure controls
and procedures(as defined in Rule 13a-15e under the Securities Exchange Act of 1934 the "Exchange Act"), our principal executive
officer and principal financial officer have concluded that as of the end of the period covered by this quarterly report on Form 10-Q
such disclosure controls and procedures were not effective due to the lack of segregation of duties and lack of a formal review process
that includes multiple levels of review to ensure that information required to be disclosed by us in reports that we file or submit under
the Exchange Act is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission
rules and forms because of the identification of a material weakness in our internal control over financial reporting which we view as
an integral part of our disclosure controls and procedures. The material weakness relates to the lack of segregation of duties in financial
reporting, as our financial reporting and all accounting functions are performed by an external consultant with no oversight by a professional
with accounting expertise. Our CEO/CFO does not possess accounting expertise and our company does not have an audit committee. This weakness
is due to the company's lack of working capital to hire additional staff. To remedy this material weakness, we intend to engage another
accountant to assist with financial reporting as soon as our finances will allow.
Changes in Internal Control over Financial Reporting
There have been no changes in our internal control
over financial reporting identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13a-15 or 15d-15
that occurred during our first quarter and may have materially affected, or are reasonably likely to materially affect, our internal control
over financial reporting.
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
Management is not aware of any legal proceedings contemplated
by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report, no director,
officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings.
Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES
AND USE OF PROCEEDS
No report required.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
No report required.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
17
ITEM 5. OTHER INFORMATION
No report required.
ITEM 6. EXHIBITS
SIGNATURES
In accordance with the requirements of the Exchange
Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Dated: July 8, 2022 |
|
Cannonau Corp. |
|
|
|
|
|
By: /s/Carmen J. Carbona |
|
|
Carmen J. Carbona, Chief Executive Officer and President |
|
|
|
|
|
|
Dated: July 8, 2022 |
|
Cannonau Corp. |
|
|
By: /s/Carmen J. Carbona |
|
|
Carmen J. Carbona, Chief Financial Officer and President |