Company: FTSP
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001199835-25-000387
Chunk: 6

Company: FinTrade Sherpa, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 SIGNIFICANT ACCOUNTING POLICIES

The
financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States
(“GAAP”) with accounting policies as disclosed in the Company’s annual audited financial statements. Because a precise
determination of many assets and liabilities is dependent upon future events, the preparation of financial statements for a period necessarily
involves the use of estimates which have been made using careful judgment. All dollar amounts are in U.S. dollars unless otherwise noted.
The financial statements have, in management’s opinion, been properly prepared within reasonable limits of materiality.

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

8

    FINTRADE
    SHERPA, INC.
  
    (FORMERLY
    LODE-STAR MINING INC.)

    FINANCIAL
    STATEMENTS

    FOR
    THE SIX MONTHS ENDED SEPTEMBER 30, 2025 AND 2024
  
    (Unaudited)

3.ASSET
PURCHASE AGREEMENT

Asset
Purchase Agreement

On
February 14, 2025, the Company entered into an Asset Purchase Agreement whereby the Company agreed to purchase from a third-party (the
“Seller”) rights, title, and interest in and to certain intellectual property, rights and derivative works, including improvements,
modifications, creations and enhancements created by the Seller using artificial intelligence (“AI”) models. As consideration,
the Company agreed to issue 227,000,000 common shares of the Company. At September 30, 2025, no shares have been issued in connection
with the asset purchase agreement. The Company is continuing to refine its personnel and management and will distribute shares once this
has been finalized.

License
Agreement

In
connection with the Asset Purchase Agreement, the Company entered into a License Agreement that grants the Company an exclusive worldwide
license to use certain AI technology. Under the License Agreement, the Company agreed to pay a total license fee of $440,000. Payable
in monthly installments of $5,000. Upon payment in full, the license automatically converts into a perpetual, fully paid-up and irrevocable
worldwide license. The