Company: LAAI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001683168-25-003680
Chunk: 4

Company: Loan Artificial Intelligence Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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in the State of Wyoming on October 1, 2022, so there is no impact to the historical financial information. The 500,000 shares of common
stock were issued by the transfer agent on January 12, 2023.

On August 25, 2023, a change in control of the
Company occurred by virtue of the Company’s largest shareholder, Small Cap Compliance, LLC, selling 300,000 shares of the Convertible
Series D Preferred Stock and the Company issuing 305,000,000 shares of Restricted Common Stock to Well Profit Holdings Limited. Such shares
represent 100% of the Company’s total issued and outstanding shares of Convertible Series D Preferred Stock and 84.5% of the Company’s
total issued and outstanding shares of Common Stock. As part of the sale of the shares, Ms. Keaveney, owner of Small Cap Compliance, LLC,
arranged with Raymond Fu, control person for Well Profit Holdings Limited, prior to resigning as the sole Officer and member of the Company’s
Board of Directors and to appoint new officers and directors of the Company.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

These audited financial statements have been prepared
in accordance with accounting principles generally accepted in the United States of America (“US GAAP”).

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Interim Financial Statements

The accompanying unaudited financial statements
have been prepared in accordance with generally accepted accounting principles (GAAP) applicable to interim financial information and
the requirements of Form 10-Q and Rule 8-03 of Regulation S-X of the Securities and Exchange Commission. Accordingly, they do not include
all of the information and disclosure required by accounting principles generally accepted in the United States of America for complete
financial statements. Interim results are not necessarily indicative of results for a full year. In the opinion of management, all adjustments
considered necessary for a fair presentation of the financial position and the results of operations and cash flows for the interim periods
have been included. These interim financial statements should be read in conjunction with the audited financial statements for the year
ended December 31, 2024. Not all disclosures required by generally accepted accounting principles for annual financial statements are
presented. The interim financial statements follow the same accounting policies and methods of computations as the audited financial statements
for the year ended December 31, 2024.

Use of Estimates

The preparation of financial statements in conformity