| ☒ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |   |
|---------|--------------------------------------------------------------------------------------|--------|
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |   |
|---------|-----------------------------------------------------------------------------------------------|--------|
| Nevada                                                                   | 30-0796392                           |
|--------------------------------------------------------------------------|--------------------------------------|
| (State or other jurisdiction ofincorporation or organization)            | (I.R.S. Employer Identification No.) |
|                                                                     |                                 |
| 107 Atlantic Ave. , Suite 201Toronto, Ontario M6K1Y2                     |
| (Address of principal executive offices, including Zip Code)        |
| (416) 767-8920(Registrant's telephone number, including area code)  |
| Large accelerated filer [  ]     | Accelerated filer [   ] |
|---------------------------------------|-----------------------------------|
| Non-accelerated filer [   ] | Smaller reporting company [X]     |
| Class                           | Outstanding as of April 21, 2017 |
|---------------------------------|----------------------------------|
| Common stock, $0.0001 par value | 39,680,731                  |

----

|         |                                                                                                         |   |   |
|--------------|--------------------------------------------------------------------------------------------------------------|--------|--------|
| PAR T I |                                                                                                         |   |   |
|         |                                                                                                         |   |   |
| Item 1.      | Business                                                                                                     |   | 1      |   |
| Item 1A.     | Risk Factors                                                                                                 |   | 1      |   |
| Item 1B.     | Unresolved Staff Comments                                                                                    |   | 6      |   |
| Item 2.      | Properties                                                                                                   |   | 6      |   |
| Item 3.      | Legal Proceedings                                                                                            |   | 6      |   |
| Item 4.      | Mine Safety Disclosures                                                                                      |   | 6      |   |
|         |                                                                                                         |   |   |   |
| PART II      |                                                                                                         |   |   |   |
|         |                                                                                                         |   |   |   |
| Item 5.      | Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities |   | 7      |   |
| Item 6.      | Selected Financial Data                                                                                      |   | 8      |   |
| Item 7.      | Management's Discussion and Analysis of Financial Condition and Results of Operations                        |   | 9      |   |
| Item 7A.     | Quantitative and Qualitative Disclosures About Market Risk`                                                  |   | 19     |   |
| Item 8.      | Financial Statements and Supplementary Data                                                                  |   | 20     |   |
| Item 9.      | Changes in and Disagreements With Accountants on Accounting and Financial Disclosure                         |   | 20     |   |
| Item 9A.     | Controls and Procedures                                                                                      |   | 20     |   |
| Item 9B.     | Other Information                                                                                            |   | 21     |   |
|         |                                                                                                         |   |   |   |
| PART III     |                                                                                                         |   |   |   |
|         |                                                                                                         |   |   |   |
| Item 10.     | Directors, Executive Officers and Corporate Governance                                                       |   | 22     |   |
| Item 11.     | Executive Compensation                                                                                       |   | 24     |   |
| Item 12.     | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters               |   | 26     |   |
| Item 13.     | Certain Relationships and Related Transactions, and Director Independence                                    |   | 27     |   |
| Item 14.     | Principal Accounting Fees and Services                                                                       |   | 28     |   |
|         |                                                                                                         |   |   |   |
| PART IV      |                                                                                                         |   |   |   |
|         |                                                                                                         |   |   |   |
| Item 15.     | Exhibits, Financial Statement Schedules                                                                      |   | 29     |   |
|         |                                                                                                         |   |   |   |
| SIGNATURES   |                                                                                                         | 30     |   |

----

|   | · | concentration of our customer base and fulfillment of existing customer contracts;             |
|--------|--------|------------------------------------------------------------------------------------------------|
|   | · | our ability to maintain pricing;                                                               |
|   | · | deterioration of the credit markets;                                                           |
|   |   |                                                                                           |
|   | · | competition within our industry;                                                               |
|   | · | asset impairment and other charges;                                                            |
|   | · | our identifying, making and integrating acquisitions;                                          |
|   |   |                                                                                           |
|   | · | loss of key executives;                                                                        |
|   | · | the ability to employ skilled and qualified workers;                                           |
|   |   |                                                                                           |
|   | · | inadequacy of insurance coverage for certain losses or liabilities;                            |
|   | · | federal legislation and state legislative and regulatory initiatives relating to our industry; |
|   |   |                                                                                           |
|   | · | future legislative and regulatory developments;                                                |
|   | · | our beliefs regarding the future of our competitors;                                           |
|   | · | our expectation that the demand for our products services will eventually increase; and        |
|   | · | our expectation that we will be able to raise capital when we need it.                         |

----

----

----

|   | ● | our ability to arrange potential financing or generate operating cash flows;                                                                                                                                          |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | ● | our ability to acquire products to resell to our customers;                                                                                                                                                           |
|   | ● | changes in federal, state and local government;                                                                                                                                                                       |
|   | ● | availability and costs of labor and equipment;                                                                                                                                                                        |
|   | ● | the addition of new customers or the loss of existing customers;                                                                                                                                                      |
|   | ● | our ability to control costs, including operating expenses;                                                                                                                                                           |
|   | ● | changes in the mix of our products and services;                                                                                                                                                                      |
|   | ● | the length of our sales cycle;                                                                                                                                                                                        |
|   | ● | the productivity and growth of our sales force;                                                                                                                                                                       |
|   | ● | the timing of opening of new offices or making other significant investments in the growth of our business, as the revenue we hope to generate from those expenses often lags several quarters behind those expenses; |
|   | ● | changes in pricing by us or our competitors;                                                                                                                                                                          |
|   | ● | costs related to the acquisition and integration of companies or assets;                                                                                                                                              |
|   | ● | general economic trends, including changes in geopolitical events such as war or incidents of terrorism; and                                                                                                          |
|   | ● | future accounting pronouncements and changes in accounting policies.                                                                                                                                                  |
|   | · | establishing and managing highly experienced foreign suppliers, distributors and relationships and overseeing and ensuring the performance of foreign subcontractors; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | · | increased travel, infrastructure and legal and compliance costs associated with multiple international locations;                                                     |
|   | · | additional withholding taxes or other taxes on our foreign income, and tariffs or other restrictions on foreign trade or investment;                                  |
|   | · | imposition of, or unexpected adverse changes in, foreign laws or regulatory requirements, many of which differ from those which the Company currently operates in;    |
|   | · | increased exposure to foreign currency exchange rate risk;                                                                                                            |
|   | · | longer payment cycles for sales in some foreign countries and potential difficulties in enforcing contracts and collecting accounts receivable;                       |
|   | · | difficulties in repatriating overseas earnings;                                                                                                                       |
|   | · | general economic conditions in the countries in which we operate; and                                                                                                 |
|   | · | political unrest, war, incidents of terrorism or responses to such events.                                                                                            |

----

----

----

----

|                                 |   | Closing Prices(1) |   |
|--------------------------------------|--------|-------------------|--------|
|                                 |   | High              |   |   | Low |   |
| FISCAL YEAR ENDED DECEMBER 31, 2016: |   |              |   |   |   |   |
|   Fourth Quarter                |   | $                 | 2.27   |   |   | $ | 2.25 |   |
|   Third Quarter                 |   |              | n/a    |   |   |   | n/a |   |
|   Second Quarter                |   |              | n/a    |   |   |   | n/a |   |
|   First Quarter                 |   |              | n/a    |   |   |   | n/a |   |
|                                 |   |              |   |   |   |   |   |   |
| FISCAL YEAR ENDED DECEMBER 31, 2015: |   |              |   |   |   |   |   |   |
|   Fourth Quarter                |   |              | n/a    |   |   |   | n/a |   |
|   Third Quarter                 |   |              | n/a    |   |   |   | n/a |   |
|   Second Quarter                |   |              | n/a    |   |   |   | n/a |   |
|   First Quarter                 |   |              | n/a    |   |   |   | n/a |   |

----

----

----

----

----

| 2017   |   | $      | 134,746 |   |
|--------|--------|--------|---------|--------|
| 2018   |   |   | 134,746 |   |
| 2019   |   |   | 134,746 |   |
| 2020   |   |   | 112,289 |   |
|   |   | $      | 516,527 |   |

----

|                                     | 2017   |   | 2018 and later |   |
|------------------------------------------|--------|--------|----------------|--------|
|                                     |   |   |           |   |
| Accounts payable and accrued liabilities |   | $      | 449,434        |   |   | $ | - |   |
|                                     |   | $      | 449,434        |   |   | $ | - |   |

----

----

| a) | The Company's revenues are primarily generated from financial service fees charged to cardholders and merchants accepting the cards for payment. Revenue for prepaid financial services is generated from multiple sources including transaction fees, cardholder fees, load fees and interchange fees. These fees are recognized on the transaction date.  Funds received from customers are held in trust and the corresponding amount of funds available for use are recorded as a liability. |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b) | Fees charged for card program, website and card design are recognized when services are performed or when the product is transferred to the customer. |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------|

| c) | Other income represents gains realized on de-recognition of clients' funds payable. |
|----|-------------------------------------------------------------------------------------|

----

| ● | Computer equipment and furniture  – 30% declining balance per year |
|---------|-------------------------------------------------------------------------------|

----

----

----

|             |   | 2017 |    |   | 2018 and later |   |
|------------------|--------|------|---------|--------|----------------|--------|
| Accounts payable |   | $    | 474,508 |   |           | $      | - |   |
|             |   | $    | 474,508 |   |           | $      | - |   |

----

----

----

| Name             | Age    | Position                             | Director Since  |
|------------------|--------|--------------------------------------|----------------------|
| Rob Lee          |   | Chief Executive Officer and Director | August 2016          |
| Steve Roberts    |   | President and Director               | August 2016          |
| Edward (Ted) Yew |   | Secretary and Director               | August 2016          |
| Jon Tondeur      |   | Director                             | August 2016          |
| Brian Morales    |   | Chief Financial Officer              | August 2016          |

----

| 1. | had any bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time; |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2. | been convicted in a criminal proceeding or is a named subject to a pending criminal (excluding traffic violations and other minor offenses); |
|----|----------------------------------------------------------------------------------------------------------------------------------------------|
| 3. | been subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities, futures, commodities or banking activities; or |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4. | been found by a court of competent jurisdiction (in a civil action), the Securities and Exchange Commission or the Commodity  Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated. |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   Name      | Position                              |
|------------------|---------------------------------------|
| Robert Doherty   | Chief Executive Officer, and Director |
| Steve Roberts    | President and Director                |
| Edward (Ted) Yew | Secretary and Director                |
| Brian Morales    | Chief Financial Officer               |

----

| Name                |   | Principal position      |   | Year |   | Salary or fees |    | Bonus  |   |   | Deferred Stock Units |   |   | Option Awards |   |    | Total   |   |
|---------------------|--------|-------------------------|--------|------|--------|----------------|---------|--------|--------|--------|----------------------|--------|--------|---------------|--------|---------|---------|--------|
| Rob Lee(1)          |   | Chief Executive Officer |   | 2016 |   | $              | 101,312 |   | Nil    |   |                 | $      | 74,131 |          |   | $       | 174,480 |   |   | $ | 349,923 |   |
| Steve Roberts(2)    |   | President               |   | 2016 |   | $              | 35,421  |   | Nil    |   |                 | $      | 74,131 |          |   | $       | 174,480 |   |   | $ | 284,032 |   |
| Edward (Ted) Yew(3) |   | Secretary               |   | 2016 |   | $              | 53,165  |   | Nil    |   |                 | Nil    |   |          | Nil    |    |    | $      | 53,165 |   |
| Brian Morales(4)    |   | Chief Financial Officer |   | 2016 |   | $              | 39,802  |   | Nil    |   |                 | $      | 1,751  |          |   | $       | 4,093   |   |   | $ | 45,646 |   |
| Jon Tondeur(5)      |   | Director                |   | 2016 |   | Nil            |    | Nil    |   |   | $                    | 71,108 |   |          | $      | 165,991 |    |   | $ | 237,009 |   |
| (1) | Effective August 22, 2016, the assumed an agreement that covers fees paid to a company owned and controlled by Rob Lee.  The agreement calls for payment of Cdn$22,000 per month plus the reimbursement of expenses incurred on the Company's behalf.  As at December 31, 2016, the fees noted above remain unpaid.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Steve Roberts joined the Company as President in September 2016.  Under his employment agreement Mr. Roberts was compensated Cdn$10,000 per month plus certain travel related expenses as required by his duties as President.  Effective January 2017, this was increased to Cdn$15,000 per month.  As at December 31, 2016, $28,597, remains unpaid.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| (3) | Effective August 22, 2016, the assumed an agreement that covers fees paid to a company owned and controlled by Edward Yew.  The agreement calls for payment of $14,000 per month plus the reimbursement of expenses incurred on the Company's behalf.  Fees to this Company were ceased on October 1, 2016.  As at December 31, 2016, the fees above remain unpaid.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| (4) | Brian Morales joined as Chief Financial Officer in August 2016.  For 2016, fees were paid to a Company owned and controlled by Brian Morales for the time incurred.  As at December 31, 2016, $32,221 remains unpaid.  Effective January 2017, Mr. Morales earns a salary of Cdn$12,000.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| (5) | On November 30, 2016, Mr. Tondeur was issued 400,000 common share purchase warrants with an exercise price of Cdn$0.50 and are exercisable into one common share of the Company until October 31, 2017.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| (6) | As required by SEC rules, amounts in the column "Stock Awards" present the aggregate grant date fair value of awards made each year computed in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards CodificationTM 718 Compensation—Stock Compensation ("FASB ASC 718"). The grant date fair value of each of the executives' award is measured based on the closing price of our common stock on the date of grant.These amounts do not reflect whether the recipient has actually realized or will realize a financial benefit from the awards. Under generally accepted accounting principles, compensation expense with respect to stock awards granted to our employees, executives and directors is generally recognized over the requisite services period. The SEC's disclosure rules previously required that we present stock award information based on the amount recognized during the corresponding year for financial statement reporting purposes with respect to these awards. However, the recent changes in the SEC's disclosure rules require that we now present stock award amounts using the grant date fair value of the awards granted during the corresponding year |
| (7) | There was no executive Compensation paid during 2015.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

----

| Name                                                                                                                                                                                                                                        |   | Type of instrument  |   | No. of securities underlying unexercised instrument available |    |   | No. of securities underlying unexercised instrument exercisable |   |    | Exercise price(1) |   | Expiration date |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------|--------|---------------------------------------------------------------|---------|--------|-----------------------------------------------------------------|--------|---------|-------------------|--------|-----------------|
| Rob Lee                                                                                                                                                                                                                                     |   | Stock options       |   |                                                          | 537,500 |   |                                                            |   | 197,222 |              |   | $               | 1.50 |   | December 1, 2021 |
| Rob Lee                                                                                                                                                                                                                                     |   | Deferred stock unit |   |                                                          | 162,500 |   |                                                            |   | 65,278  |              |   |            | N/A |   | December 1, 2021 |
| Steve Roberts                                                                                                                                                                                                                               |   | Stock options       |   |                                                          | 537,500 |   |                                                            |   | 197,222 |              |   | $               | 1.50 |   | December 1, 2021 |
| Steve Roberts                                                                                                                                                                                                                               |   | Deferred stock unit |   |                                                          | 162,500 |   |                                                            |   | 65,278  |              |   |            | N/A |   | December 1, 2021 |
| Jon Tondeur                                                                                                                                                                                                                                 |   | Stock options       |   |                                                          | 187,500 |   |                                                            |   | 187,500 |              |   | $               | 1.50 |   | December 1, 2021 |
| Jon Tondeur                                                                                                                                                                                                                                 |   | Deferred stock unit |   |                                                          | 62,500  |   |                                                            |   | 62,500  |              |   |            | N/A |   | December 1, 2021 |
| Brian Morales                                                                                                                                                                                                                               |   | Stock options       |   |                                                          | 168,750 |   |                                                            |   | 4,688   |              |   | $               | 1.50 |   | December 1, 2021 |
| Brian Morales                                                                                                                                                                                                                               |   | Deferred stock unit |   |                                                          | 56,250  |   |                                                            |   | 1563    |              |   |            | N/A |   | December 1, 2021 |
|                                                                                                                                                                                                                                        |   |                |   |                                                          |    |   |                                                            |   |    |              |   |            |   |   |   |
|                                          |   |                |   |                                                          |    |   |                                                            |   |    |              |   |            |   |   |   |

|  | (1) | In Canadian dollars |
|--|-----|---------------------|

|  | (2) | No fees were paid to directors during the year. |
|--|-----|-------------------------------------------------|

----

| Title of Class | Name of Beneficial Owner              | Office, if any                       | Amount of shares    controlled | Percent of     classs |
|----------------|---------------------------------------|--------------------------------------|-----------------------------------------------|-------------------------------------------|
| Common Stock   | Rob Lee                               | Chief Executive Officer and Director | 15,210,668                                    | 38.1%                                     |
| Common Stock   | Ted Yew                               | Secretary and Director               | 4,875,997                                     | 12.2%                                     |
| Common Stock   | Steve Roberts                         | President and Director               | 574,497                                       | 1.4%                                      |
| Common Stock   | Jon Tondeur                           | Director                             | 1,279,999                                     | 3.2%                                      |
| Common         | All officers and directors as a group |                                 |                                          | 62.7%                                     |
|           |                                  |                                 |                                          |                                      |
| Common Stock   | Mississaugas of the New Credit        |                                 | 3,000,000                                     | 7.5%                                      |
|           |                                  |                                 |                                          |                                      |

----

| Fee Category                    |   | December 31, 2016 |    |   | March 31, 2016 |   |
|---------------------------------|--------|-------------------|---------|--------|----------------|--------|
| Audit Fees and quarterly review |   | $                 | $46,505 |   |           | $      |   |   |
| Audit-Related Fees              |   | $                 | --      |   |           | $      | -- |   |
| Tax Fees                        |   | $                 | --      |   |           | $      | -- |   |
| All Other Fees                  |   | $                 | --      |   |           | $      | -- |   |

----

| Exhibit No. |   | Description                                                                                                                                                                                                                                   |
|-------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1         |   | Articles of Incorporation of UVIC Inc. filed with the registration statement on Form S-1 filed with the Exchange on May 8, 2015 and incorporated herein by reference.                                                                         |
|        |   |                                                                                                                                                                                                                                          |
| 3.2         |   | Articles of Amendment of Amended Articles of Incorporation filed with Current Report on Form 8-K filed with the Exchange on February 24, 2017 and incorporated herein by reference.                                                           |
|        |   |                                                                                                                                                                                                                                          |
| 3.3         |   | Bylaws of UVIC Inc. filed with the registration statement on Form S-1 filed with the Exchange on May 8, 2015 and incorporated herein by reference.                                                                                            |
|        |   |                                                                                                                                                                                                                                          |
| 10.1        |   | Form of Share Exchange Agreement, effective as of August 22, 2016, by and among UVCC, Inc., Zoompass, Inc. and shareholders of Zoompass, Inc.                                                                                                 |
|        |   |                                                                                                                                                                                                                                          |
| 10.2        |   | Service Agreement dated February 24, 2015 between UVIC Inc. and Angara Corp. filed with the registration statement on Form S-1 with the Exchange on May 8, 2015 and incorporated herein by reference.                                    |
|        |   |                                                                                                                                                                                                                                          |
| 10.3        |   | Lease Agreement dated November 10, 2014 between UVIC Inc. and Flamingo Business Park filed with the registration statement on Form S-1 with the Exchange on June 15, 2015 and incorporated herein by reference.                          |
| 10.4        |   | Agreement dated February 26, 2015 between UVIC Inc. and  Jose Akdar Lubis, freelance web designer, filed with the registration statement on Form S-1 with the Exchange on June 15, 2015 and incorporated herein by reference.       |
| 10.5        |   | Service Agreement Between UVIC Inc. and dated June 21, 2015 between UVIC Inc. and Rivex Technologies Corp. filed with the registration statement on Form S-1 with the Exchange on August 15, 2015 and incorporated herein by reference.  |
| 31.1        |   | Certifications of Principal Executive Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                |
| 31.2        |   | Certifications of Principal Financial Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                |
| 32.1        |   | Certifications of Principal Executive Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                                             |
| 32.2        |   | Certifications of Principal Financial Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                                             |
| 101.INS     |   |  XBRL Instance Document                                                                                                                                                                                                                  |
| 101.SCH     |   |  XBRL Taxonomy Extension Schema Document                                                                                                                                                                                                 |
| 101.CAL     |   |  XBRL Taxonomy Extension Calculation Linkbase Document                                                                                                                                                                                   |
| 101.DEF     |   |  XBRL Taxonomy Extension Definition Linkbase Document                                                                                                                                                                                    |
| 101.LAB     |   |  XBRL Taxonomy Extension Label Linkbase Document                                                                                                                                                                                         |
| 101.PRE     |   |  XBRL Taxonomy Extension Presentation Linkbase Document                                                                                                                                                                                  |

----

|                 |   |  ZOOMPASS HOLDINGS, INC.    |
|----------------------|--------|---------------------------------------|
|  April 21, 2017 |   |  By: /s/ Brian Morales           |
|                 |   | Brian Morales Chief Financial Officer |
|                 |   |                                  |

----

| Reports of Independent Registered Public Accounting Firms  |   |   | F-1    |   |
|------------------------------------------------------------|--------|--------|--------|--------|
|                                                       |   |   |   |   |
| Consolidated Balance Sheet                                 |   |   | F-2    |   |
|                                                       |   |   |   |   |
| Consolidated Statement of Operations                       |   |   | F-3    |   |
|                                                       |   |   |   |   |
| Consolidated  Statement of Stockholders' Deficit |   |   | F-4    |   |
|                                                       |   |   |   |   |
| Consolidated Statement of Cash Flows                       |   |   | F-5    |   |
|                                                       |   |   |   |   |
| Notes to the Consolidated Financial Statements             |   |   | F-6    |   |

----

|   |   |                               |
|--------|--------|------------------------------------|
|   |   |                                    |
|   |   | Chartered Professional Accountants |
|   |   | Licensed Public Accountants        |

----

|                                                                                                    |   |   |   |   | December 31, |        |
|---------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------------|-------------|
| ASSETS                                                                                                  |   | Note   |   |   | 2016         |        |
| Current assets                                                                                          |   |   |   |   |         |        |
| Cash and cash equivalents                                                                               |   | 6      |   |   | $            | 422,385     |   |
| Cash held in trust and customer deposits                                                                |   |   |   |   |         | 2,016,369   |   |
| Accounts receivable (net of allowance for doubtful accounts of $16,396)                                 |   |   |   |   |         | 63,274      |   |
| Inventories                                                                                             |   |   |   |   |         | 27,850      |   |
| Prepaid expenses and other current assets                                                               |   | 9      |   |   |         | 144,440     |   |
| Total current assets                                                                                    |   |   |   |   |         | 2,674,318   |   |
| Equipment                                                                                               |   | 4      |   |   |         | 54,519      |   |
| Intangible assets                                                                                       |   | 3,5    |   |   |         | 8,627,349   |   |
| Total Assets                                                                                            |   |   |   |   |         | 11,356,186  |   |
|                                                                                                    |   |   |   |   |         |        |   |
| LIABILITIES AND SHAREHOLDERS' EQUITY                                                                    |   |   |   |   |         |        |   |
| Current Liabilities                                                                                     |   |   |   |   |         |        |   |
| Accounts payable and accrued liabilities                                                                |   | 5,8,9  |   |   | $            | 474,508     |   |
| Client funds                                                                                            |   |   |   |   |         | 1,840,210   |   |
| Total liabilities                                                                                       |   |   |   |   |         | 2,314,718   |   |
|                                                                                                    |   |   |   |   |         |        |   |
| Shareholders' equity                                                                                    |   |   |   |   |         |        |   |
| Common stock, $0.0001 par value 500,000,000 shares authorized, 39,300,400 shares issued and outstanding |   | 1,7    |   |   | $            | 3,929       |   |
| Additional paid in capital                                                                              |   | 1,7,8  |   |   |         | 23,251,123  |   |
| Accumulated deficit                                                                                     |   |   |   |   |         | (13,984,951 | ) |
| Accumulated other comprehensive loss                                                                    |   |   |   |   |         | (228,633    | ) |
| Total Liabilities and Shareholders' Equity                                                              |   |   |   |   |         | 9,041,468   |   |
|                                                                                                    |   |   |   |   | $            | 11,356,186  |   |
|                                                                                                    |   |   |   |   |         |        |   |
| Going concern                                                                                           |   | 1      |   |   |         |        |   |
| Commitments and contingencies                                                                           |   | 11     |   |   |         |        |   |
| Subsequent events                                                                                       |   | 12     |   |   |         |        |   |

**

*Signed on behalf of the Board*

**
|             "Jon Tondeur"            |             "Rob Lee"            |
|----------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                     |   |   |   |       | From date of incorporation to |        |
|--------------------------------------------------------------------------|--------|--------|--------|------------|-------------------------------|-------------|
|                                                                     |   | Note   |   |       | December 31, 2016             |        |
| Revenue                                                                  |   |   |   |       |                          |        |
|     Gross revenue                                    |   |   |   |       | $                             | 284,345     |   |
|     Commissions and agent fees                       |   |   |   |       |                          | (63,324     | ) |
| Net revenue                                                              |   |   |   |       |                          | 221,021     |   |
|     Processing and card fees                         |   |   |   |       |                          | (272,034    | ) |
| Gross Margin                                                             |   |   |   |       |                          | (51,013     | ) |
| Expenses                                                                 |   |   |   |       |                          |        |   |
|     Salaries and consultants                         |   |   |   |       |                          | (691,981    | ) |
|     Rent                                             |   |   |   |       |                          | (90,036     | ) |
|     Share-based payment expense                      |   | 7,8,9  |   |       |                          | (12,915,010 | ) |
|     Depreciation                                     |   | 4      |   |       |                          | (9,655      | ) |
|     Professional fees                                |   |   |   |       |                          | (62,113     | ) |
|     Telecommunications                               |   |   |   |       |                          | (42,558     | ) |
|     Office and sundry expenses                       |   |   |   |       |                          | (103,594    | ) |
|     Filing fees and regulatory costs                 |   |   |   |       |                          | (14,818     | ) |
|     Foreign exchange                                 |   |   |   |       |                          | 7,117       |   |
|     Bank fees                                        |   |   |   |       |                          | (11,290     | ) |
|                                                                     |   |   |   |       |                          | (13,933,938 | ) |
| Net loss                                                                 |   |   |   |       | $                             | (13,984,951 | ) |
|                                                                     |   |   |   |       |                          |        |   |
| Other comprehensive loss                                                 |   |   |   |       |                          |        |   |
|     Foreign exchange translation loss                |   |   |   |       | $                             | (228,633    | ) |
| Comprehensive loss                                                       |   |   |   |       | $                             | (14,213,584 | ) |
|                                                                     |   |   |   |       |                          |        |   |
| Net loss per share - basic and diluted                                   |   |   |   |       | $                             | (0.42       | ) |
|                                                                     |   |   |   |       |                          |        |   |
| Weighted average number of common shares outstanding - basic and diluted |   |   |   | 33,302,282 |                          |

----

|                                                       |   |    |   |   | Common stock   |       |   |   |    |       |                     |   |   | Accumulated |   |   |                     |        |
|------------------------------------------------------------|--------|---------|--------|--------|----------------|------------|--------|--------|---------|------------|--------------------------|--------|--------|-------------|--------|--------|--------------------------|-------------|
|                                                       |   | Note    |   |   | NumberofShares |       |   | Amount |    |       | Additionalpaid-incapital |   |   | Deficit     |   |   | other comprehensive loss |        |   | Total |   |
| Reverse merger with Zoompass Inc.                          |   |  3 |   |   |           | 9,345,000  |   |   | $       | (9,236,536 | )                   |   | $      | 9,236,536   |   |   | $                        | -           |   |   | $ | - |   |   | $ | - |   |
| Issuance of additional shares to founders of Zoompass Inc. |   | 7       |   |   |           | 12,025,752 |   |   | $  | 1,182      |                     |   |   | -           |   |   |                     | -           |   |   |   | - |   |   |   | 1,182 |   |
| Issued in respect of share-based payments                  |   | 7       |   |   |           | 8,125,772  |   |   |    | -          |                     |   |   | 9,489,767   |   |   |                     | -           |   |   |   | - |   |   |   | 9,489,767 |   |
| Issued in respect of acquisition of net assets             |   | 3       |   |   |           | 8,060,913  |   |   |    | 9,239,110  |                     |   |   | -           |   |   |                     | -           |   |   |   | - |   |   |   | 9,239,110 |   |
| Issued in respect of private placements                    |   | 7       |   |   |           | 613,252    |   |   |    | 61         |                     |   |   | 671,703     |   |   |                     | -           |   |   |   | - |   |   |   | 671,764 |   |
| Exercise of warrants                                       |   | 7       |   |   |           | 1,129,711  |   |   |    | 112        |                     |   |   | 427,873     |   |   |                     |        |   |   |   |   |   |   |   | 427,985 |   |
| Warrants issued as share-based payments                    |   | 7,8     |   |   |           | -          |   |   |    | -          |                     |   |   | 2,690,764   |   |   |                     | -           |   |   |   | - |   |   |   | 2,690,764 |   |
| Share-based payment expense                                |   |    |   |   |           | -          |   |   |    | -          |                     |   |   | 734,480     |   |   |                     | -           |   |   |   | - |   |   |   | 734,480 |   |
| Net loss                                                   |   |    |   |   |           | -          |   |   |    | -          |                     |   |   | -           |   |   |                     | (13,984,951 | ) |   |   | - |   |   |   | (13,984,951 | ) |
| Foreign currency translation                               |   |    |   |   |           | -          |   |   |    | -          |                     |   |   | -           |   |   |                     | -           |   |   |   | (228,633 | ) |   |   | (228,633 | ) |
| December 31, 2016                                          |   |    |   |   |           | 39,300,400 |   |   | $       | 3,929      |                     |   | $      | 23,251,123  |   |   | $                        | (13,984,951 | ) |   | $ | (228,633 | ) |   | $ | 9,041,468 |   |

----

|                                                             |   |   |   |   | From the date of incorporation to |        |
|------------------------------------------------------------------|--------|--------|--------|--------|-----------------------------------|-------------|
|                                                             |   | Note   |   |   | December 31, 2016                 |        |
| Cash flow from operating activities                              |   |   |   |   |                              |        |
| Net loss                                                         |   |   |   |   | $                                 | (13,984,951 | ) |
| Non-cash items:                                                  |   |   |   |   |                              |        |   |
| Depreciation                                                     |   |   |   |   |                              | 9,655       |   |
| Share-based payment expense                                      |   | 7,8    |   |   |                              | 12,915,010  |   |
| Foreign exchange gain                                            |   |   |   |   |                              | (7,117      | ) |
| Changes in non-cash operating assets and liabilities             |   |   |   |   |                              |        |   |
|     Accounts receivable                      |   |   |   |   |                              | (18,124     | ) |
|     Deposits                                 |   |   |   |   |                              | (222,941    | ) |
|     Prepaids and other current assets        |   |   |   |   |                              | 18,552      |   |
|     Accounts payable                         |   |   |   |   |                              | 410,991     |   |
|     Advances to related parties              |   | 9      |   |   |                              | (130,000    | ) |
|     Client funds                             |   |   |   |   |                              | 208,907     |   |
| Net cash used in operating activities                            |   |   |   |   |                              | (800,018    | ) |
| Cash flow from investing activities                              |   |   |   |   |                              |        |   |
|     Asset acquisitions, net of cash acquired |   | 3      |   |   |                              | 208,298     |   |
|     Additions to intangibles                 |   | 5      |   |   |                              | (80,000     | ) |
| Net cash provided from (used in) investing activities            |   |   |   |   |                              | 128,298     |   |
| Cash flow from financing activities                              |   |   |   |   |                              |        |   |
|     Issuance of common stock                 |   |   |   |   |                              | 1,100,931   |   |
| Net cash provided by financing activities                        |   |   |   |   |                              | 1,100,931   |   |
| Effect of exchange rate changes on cash not held in U.S. dollars |   |   |   |   |                              | (6,826      | ) |
| Decrease in Cash and Cash Equivalents                            |   |   |   |   |                              | 422,385     |   |
| Cash and Cash Equivalents, beginning of period                   |   |   |   |   |                              | -           |   |
| Cash and Cash Equivalents, end of period                         |   |   |   |   | $                                 | 422,385     |   |

----

----

| a)     | The Company's revenues are primarily generated from financial service fees charged to cardholders and merchants accepting the cards for payment. Revenue for prepaid financial services is generated from multiple sources including transaction fees, cardholder fees, load fees and interchange fees. These fees are recognized on the transaction date.  Funds received from customers are held in trust and the corresponding amount of funds available for use are recorded as a liability. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| b)     | Fees charged for card program, website and card design are recognized when services are performed or when the product is transferred to the customer.                                                                                                                                                                                                                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| c)     | Other income represents gains realized on de-recognition of clients' funds payable.                                                                                                                                                                                                                                                                                                                                                                                                                   |

----

| ● | Computer equipment and furniture  – 30% declining balance per year |
|---------|-------------------------------------------------------------------------------|

----

----

----

| Consideration                       |   |   |       |
|-------------------------------------|--------|--------|------------|
| Common shares issued                |   | $      | 9,239,110  |   |
|                                |   |   |       |   |
| Net assets acquired                 |   |   |       |   |
| Cash and cash equivalents           |   | $      | 208,723    |   |
| Customer deposits and cash in trust |   |   | 1,843,296  |   |
| Accounts receivable                 |   |   | 46,641     |   |
| Prepaids                            |   |   | 29,573     |   |
| Furniture and computer equipment    |   |   | 65,651     |   |
| Intangibles                         |   |   | 8,753,337  |   |
| Accounts payable                    |   |   | (31,019    | ) |
| Customer liabilities                |   |   | (1,677,092 | ) |
| Total net assets acquired           |   | $      | 9,239,110  |   |

----

| Cost                                 | Computer equipment |   | Furniture |   | Total  |   |
|--------------------------------------|--------------------|--------|-----------|--------|--------|--------|
| June 8, 2016                         |               | $      | -         |   |   | $      | - |   |   | $ | - |   |
| Acquisitions                         |               |   | 63,258    |   |   |   | 2,393 |   |   |   | 65,651 |   |
| Foreign exchange                     |               |   | (1,588    | )      |   |   | (60 | ) |   |   | (1,648 | ) |
| Balance at December 31, 2016         |               | $      | 61,670    |   |   | $      | 2,333 |   |   | $ | 64,003 |   |
|                                 |               |   |      |   |   |   |   |   |   |   |   |   |
| Accumulated depreciation             | Computer equipment |   | Furniture |   | Total  |   |
| June 8, 2016                         |               | $      | -         |   |   | $      | - |   |   | $ | - |   |
| Depreciation                         |               |   | (9,417    | )      |   |   | (238 | ) |   |   | (9,655 | ) |
| Foreign exchange                     |               |   | 167       |   |   |   | 4 |   |   |   | 171 |   |
| Balance at December 31, 2016         |               | $      | (9,250    | )      |   | $      | (234 | ) |   | $ | (9,484 | ) |
|                                 |               |   |      |   |   |   |   |   |   |   |   |   |
| Net computer equipment and furniture |               |   |      |   |   |   |   |   |   |   |   |   |
| June 8, 2016                         |               | $      | -         |   |   | $      | - |   |   | $ | - |   |
| Balance at December 31, 2016         |               | $      | 52,420    |   |   | $      | 2,099 |   |   | $ | 54,519 |   |

| Cost                         |   | Acquired intangible assets |      |   | Payment platform |   |    | Total  |   |
|------------------------------|--------|----------------------------|-----------|--------|------------------|--------|---------|--------|--------|
| June 8, 2016                 |   | $                          | -         |   |             | $      | -       |   |   | $ | - |   |
| Additions                    |   |                       | -         |   |             |   | 100,000 |   |   |   | 100,000 |   |
| Acquisitions (note 3)        |   |                       | 8,753,337 |   |             |   | -       |   |   |   | 8,753,337 |   |
| Foreign exchange             |   |                       | (225,988  | )      |             |   | -       |   |   |   | (225,988 | ) |
| Balance at December 31, 2016 |   | $                          | 8,527,349 |   |             | $      | 100,000 |   |   | $ | 8,627,349 |   |

----

|             |   | 2017 |    |   | 2018 and later |   |
|------------------|--------|------|---------|--------|----------------|--------|
| Accounts payable |   | $    | 474,508 |   |           | $      | - |   |
|             |   | $    | 474,508 |   |           | $      | - |   |

----

|         Grant date | Warrants  | Weighted Average Exercise Price (C$) |        Expiry |
|-------------------------------------------------------|-----------|--------------------------------------|---------------------------------------------|
| November 23, 2016                                     | 600,000   | 0.50                                 | October 31, 2017                            |
| November 23, 2016(1)                                  | 871,659   | 0.50                                 | March 31, 2017                              |
|                                                  | 1,471,659 |                                 |                                        |

----

----

| Date of grant                    |              | Contractual life |             |   | Number |   |      | Exercise price (C$) |   |   | Share-based payment expense |   |   | Share price (C$) |      |       | Risk-free rate |   |   | Volatility |   |   | Dividend yield |   |   | Expected life (years) |   |
|----------------------------------|-------------------|------------------|------------------|--------|--------|--------|-----------|---------------------|--------|--------|-----------------------------|--------|--------|------------------|-----------|------------|----------------|--------|--------|------------|--------|--------|----------------|--------|--------|-----------------------|--------|
| Share award                      | June 28, 2016     |             |             | -      |   |   |      | 8,125,772           |   |   |                        |   |   | $                | 9,489,767 |       |           | $      | 1.50   |       |   |   | -              |   |   |                  | -      |   |   |   | - |   |   |   | - |   |
| Issuance of warrants             | July 29, 2016     |             | October 31, 2016 |   |   |   | 2,039,710 |                |   | $      | 0.50                        |   |   |             | 1,566,362 |       |           | $      | 1.50   |       |   |   | 1              | %      |   |                  | 100    | % |   | Nil |   |   |   | 0.26 |   |
| Issuance of warrants             | November 23, 2016 |             | October 31, 2017 |   |   |   | 600,000   |                |   | $      | 0.50                        |   |   |             | 471,408   |       |           | $      | 1.50   |       |   |   | 1              | %      |   |                  | 104    | % |   | Nil |   |   |   | 0.94 |   |
| Issuance of warrants             | November 23, 2016 |             | October 31, 2017 |   |   |   | 871,659   |                |   | $      | 0.50                        |   |   |             | 647,168   |       |           | $      | 1.50   |       |   |   | 1              | %      |   |                  | 140    | % |   | Nil |   |   |   | 0.02 |   |
| Amendment of warrants            | November 30, 2016 |             | March 31, 2017   |   |   |   | 871,659   |                |   | $      | 0.50                        |   |   |             | 5,825     |       |           | $      | 1.50   |       |   |   | 1              | %      |   |                  | 107    | % |   | Nil |   |   |   | 0.33 |   |
| Fully vested option grant        | December 1, 2016  |             | December 1, 2021 |   |   |   | 562,500   |                |   | $      | 1.50                        |   |   |             | 493,080   |       |           | $      | 1.50   |       |   |   | 1              | %      |   |                  | 108    | % |   | Nil |   |   |   | 5.00 |   |
| Fully vested deferred stock unit | December 1, 2016  |             | December 1, 2021 |   |   |   | 187,500   |                |   |   | -                           |   |   |             | 210,961   |       |           | $      | 1.50   |       |   |   | 1              | %      |   |                  | 108    | % |   | Nil |   |   |   | 5.00 |   |
| Option grant                     | December 1, 2016  |             | December 1, 2021 |   |   |   | 917,500   |                |   | $      | 1.50                        |   |   |             | 22,038    |       |           | $      | 1.50   |       |   |   | 1              | %      |   |                  | 108    | % |   | Nil |   |   |   | 5.00 |   |
| Deferred stock unit grant        | December 1, 2016  |             | December 1, 2021 |   |   |   | 272,500   |                |   | $      | -                           |   |   |             | 8,401     |       |           | $      | 1.50   |       |   |   | 1              | %      |   |                  | 108    | % |   | Nil |   |   |   | 5.00 |   |
|                             |              |             |             |   |   |   |      |                |   |   |                        |   |   |             | $         | 12,915,010 |           |   |   |       |   |   |           |   |   |                  |   |   |   |   |   |   |   |   |   |   |   |
| Award                |   | Fair Value |      |   | Contractual Life (years) |   |   | Units   |   |   | Number of units vested   |   |   | Weighted Average Exercise Price (C$) |    | Remaining   Expiry     Date |
|----------------------|--------|------------|-----------|--------|--------------------------|--------|--------|-------------------|--------|--------|------------------------------------|--------|--------|--------------------------------------|---------|------------------------------------------------------|
| Options              |   | $          | 493,080   |   |                     |   | 4.92   |              |   |   | 562,500                            |   |   |                                 | 562,500 |                                                 |   |   | 0.50 |   | December 1, 2021 |
| Deferred stock units |   |       | 210,961   |   |                     |   | 4.92   |              |   |   | 187,500                            |   |   |                                 | 187,500 |                                                 |   |   | - |   | December 1, 2021 |
| Options              |   |       | 798,517   |   |                     |   | 4.92   |              |   |   | 917,500                            |   |   |                                 | 15,082  |                                                 |   |   | 0.50 |   | December 1, 2021 |
| Deferred stock units |   |       | 304,405   |   |                     |   | 4.92   |              |   |   | 272,500                            |   |   |                                 | 4,479   |                                                 |   |   | - |   | December 1, 2021 |
|                 |   | $          | 1,806,963 |   |                     |   | 4.92   |              |   |   | 1,940,000                          |   |   |                                 | 769,561 |                                                 |   |   |   |   |    |

----

----

|                                                    |   | For the period ended December 31, |        |
|---------------------------------------------------------|--------|-----------------------------------|-------------|
|                                                    |   | 2016                              |        |
| Net loss for the year before income taxes               |   | $                                 | (13,984,951 | ) |
|                                                    |   |                              |        |   |
| Expected income tax recovery                            |   |                              | (4,894,733  | ) |
| Impact of tax rate differences in foreign jurisdictions |   |                              | 879,845     |   |
| Tax rate changes and other adjustments                  |   |                              | 45          |   |
| Permanent differences                                   |   |                              | 3,721,637   |   |
| Change in valuation allowance                           |   |                              | 293,206     |   |
| Total current year permanent items                      |   | $                                 | -           |   |
|                                    |   | As at December 31, |     |
|-----------------------------------------|--------|--------------------|----------|
|                                    |   | 2016               |     |
| Deferred tax assets:                    |   |               |     |
| Net operating loss carryforwards        |   | $                  | 48,300   |   |
| Non-capital loss carryforwards - Canada |   |               | 234,423  |   |
| Equipment                               |   |               | 2,513    |   |
| Other                                   |   |               | 7,970    |   |
|                                    |   |               | 293,206  |   |
| Valuation allowance                     |   |               | (293,206 | ) |
| Net deferred tax assets                 |   | $                  | -        |   |

----

|   |   | $      |    |   |
|--------|--------|--------|---------|--------|
| 2017   |   |   | 134,746 |   |
| 2018   |   |   | 134,746 |   |
| 2019   |   |   | 134,746 |   |
| 2020   |   |   | 112,289 |   |
|   |   |   | 516,527 |   |

----