Company: DREM
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004861
Chunk: 271

Company: Dream Homes & Development Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 3
Chunk 271
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 that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits,
we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion
on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our
audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error
or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding
the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant
estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits
provide a reasonable basis for our opinion.

Critical
Audit Matters

Critical
audit matters are matters arising from the current period audit of the financial statements that were communicated or required to be
communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements 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