Company: FTSP
Filing Date: 2025-02-14
Form Type: 8-K
Source: 0001199835-25-000044
Chunk: 24

Company: FinTrade Sherpa, Inc.
Filing Date: 2025-02-14
Form: 8-K
Item: Item 2.01
Chunk 24
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 our needs
is entirely dependent on the issuance of shares or loans, which have been our principal sources of working capital so far. For the foreseeable
future, we will have to continue to rely on those sources for funding. We have no assurance that we can successfully engage in any further
private sales of our securities or that we can obtain any additional loans.

Critical
Accounting Policies

Our
critical accounting policies are mainly those subject to significant judgments and uncertainties which could potentially result in materially
different results under different conditions and assumptions. We believe the following critical accounting policies reflect our most
significant estimates, judgments and assumptions used in the preparation of our financial statements:

Use
of Estimates and Assumptions

The
preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the amounts
reported in the financial statements and accompanying disclosures. By their nature, these estimates are subject to measurement uncertainty
and the effect on the financial statements of changes in such estimates in future periods could be significant. Management bases its
estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results
of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other
sources. Significant areas requiring management’s estimates and assumptions are determining the fair value of transactions involving
related parties and Common Stock. Actual results may differ from the estimates.

Acquired
In-Process Research and Development

Acquired
IPR& D income (expense) includes the initial costs of IPR& D projects, acquired directly in a transaction other than a business
combination, that do not have an alternative future use and is expensed on acquisition. Following the rescission of the Sapir Agreements,
the expensed IPR& D was reversed through the income statement.

Security
Ownership of Certain Beneficial Owners and Management

The
following table sets forth information known to us regarding the beneficial ownership of our Common Stock immediately following the consummation
of the Transactions by:

  each                                                                                            

  each                                                  

  all                                                          

Beneficial
ownership is determined according to the rules of the SEC, which generally provide that a person has beneficial ownership of a security
if he, she or it possesses sole or shared voting or investment power over that security, including options and warrants that are currently
exercisable or exercisable within 60 days. The beneficial ownership of Company Common Stock is based on 349,294,600 shares of