Company: DREM
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004861
Chunk: 1

Company: Dream Homes & Development Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 1
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.

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
    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