Company: CBLO
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001882781-25-000034
Chunk: 268

Company: C2 Blockchain, Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 5
Chunk 268
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ued Accounting Pronouncements 

The
Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not
believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position
or results of operations.

Note
3 - Going Concern

The
Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern
that contemplates the realization of assets and liquidation of liabilities in the normal course of business.

The
Company demonstrates adverse conditions that raise substantial doubt about the Company's ability to continue as a going concern for one
year following the issuance of these financial statements. These adverse conditions are negative financial trends, specifically operating
loss, working capital deficiency, and other adverse key financial ratios.

The
Company has not established any substantive source of revenue to cover its operating expenses. Revenue generated to date, including staking
rewards, is negligible compared to operating costs. Management intends to fund operations through related-party contributions and the
sale of the Company’s stock. There can be no assurance that these measures will be successful. The accompanying financial statements
do not include any adjustments that might be required if the Company is unable to continue as a going concern, including adjustments
to the recoverability or classification of assets or the amounts and classification of liabilities.

Note
4 - Income Taxes 

Potential
benefits of income tax losses are not recognized in the accounts until realization is more likely than not.  In
assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of
the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future
taxable income during the periods in which those temporary differences become deductible. The Company has incurred a net
operating loss carryforward of $297,784 which begins expiring in 2041. The Company has adopted ASC 740, “Accounting for Income
Taxes”, as of its inception. Pursuant to ASC 740 the Company is required to compute tax asset benefits for non-capital losses carried
forward. The potential benefit of the net operating loss has not been recognized in these financial statements because the Company cannot
be assured it is more likely than not it will utilize the loss carried forward in future years.

Significant
components of the Company’s deferred tax assets are as follows:

    June 30, 2025