Company: DREM
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004861
Chunk: 343

Company: Dream Homes & Development Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 343
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 and
(2) involved our especially challenging, subjective, or complex judgments. Communication of critical audit matters does not alter in
any way our opinion on the financial statements taken as a whole and we are not, by communicating the critical audit matters, providing
separate opinions on the critical audit matter or on the accounts or disclosures to which they relate.

/S/
Olayinka Oyebola

OLAYINKA
OYEBOLA & CO.

(Chartered
Accountants)

Lagos,
Nigeria

We
have served as the Company’s auditor since 2024.

April
14, 2025

F-2

DREAM
HOMES AND DEVELOPMENT CORPORATION

CONSOLIDATED
BALANCE SHEETS

    2024
     
    2023

    December
    31,

    2024
     
    2023
  
    ASSETS 

    CURRENT
    ASSETS 

    Cash 
    $1,054,046 
     
    $2,712,503 
  
    Accounts
    receivable, net of allowance for doubtful accounts 
     142,595 
     
     202,507 
  
    Prepaid
    contract interest 
     - 
     
     332,362 
  
    Inventories 
     7,365,976 
     
     53,005 
  
    Total
    current assets 
     8,562,617 
     
     3,300,377 

    PROPERTY
    AND EQUIPMENT, net 
     115,786 
     
     - 

    OTHER
    ASSETS 

    Security
    deposit 
     2,200 
     
     2,200 
  
    Deposits
    and costs coincident to acquisition of land for development 
     2,830,018 
     
     6,805,932 
  
    Other
    assets 
     10,700 
     
     - 

    Total
    assets 
    $11,521,321 
     
    $10,108,509 

    CURRENT
    LIABILITIES 

    Accounts
    payable and accrued expenses 
    $1,112,291 
     
    $537,972 
  
    Accrued
    interest 
     354,722 
     
     354,722 
  
    Accrued
    taxes