UNITED STATES


SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549





FORM 10-K


[ X]
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the Fiscal Year Ended January 31, 2017[  ]
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE EXCHANGE ACT
 
 For the transition period from ________ to ______


PACIFICORP HOLDINGS, LTD.


(Exact name of registrant as specified in its charter)





Nevada
000-55467
47-2055848(State or other jurisdiction
(Commission File Number)
(IRS Employerof Incorporation)

Identification Number)1375 Lake City Way NE

Seattle WA 98125(Address of principal executive offices)800-929-3293(Registrant’s Telephone Number)





Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [  ] No [X]





Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes [  ] No [X]





Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.


Yes [  ] No [X]





Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes  [  ]   No [  ]





Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.





Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.




Large Accelerated Filer       [  ]

Accelerated Filer                                        [  ]Non-Accelerated Filer          [  ]

Smaller Reporting Company                    [X]








Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes [  ] No [X]





The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant as of May 12, 2017was $23,900 based upon the price ($0.01), our common stock is not presently traded, but is quoted on the OTC Bulletin Board. The selling shareholders may sell their shares at $0.01per share or at prevailing market prices or privately negotiated prices. This number of shares of common stock are held by persons other than executive officers, directors and five percent stockholders of the registrant without conceding that any such person is an “affiliate” of the registrant for purposes of the federal securities laws.





As of May 12 ,2017, there were 8,390,000 shares of the registrant’s $0.001par value common stock issued and outstanding.





Documents incorporated by reference: None










Table of Contents
 
 PagePART IItem 1
Business
4Item 1A
Risk Factors
7Item 1B
Unresolved Staff Comments
7Item 2
Properties
7Item 3
Legal Proceedings
7Item 4
[REMOVED AND RESERVED]
7PART IIItem 5
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
8Item 6
Selected Financial Data
8Item 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
9Item 7A
Quantitative and Qualitative Disclosures about Market Risk
11Item 8
Financial Statements and Supplementary Data
11Item 9
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
12Item 9A
Controls and Procedures
12Item 9B
Other Information
13PART IIIItem 10
Directors and Executive Officers and Corporate Governance
13Item 11
Executive Compensation
16Item 12
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
17Item 13
Certain Relationships and Related Transactions
18Item 14
Principal Accountant Fees and Services
19PART IVItem 15
Exhibits
20
 2


FORWARD-LOOKING STATEMENTS





This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements are not historical facts but rather are based on current expectations, estimates and projections. We may use words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “foresee,” “estimate” and variations of these words and similar expressions to identify forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted. These risks and uncertainties include the following:





·
The availability and adequacy of our cash flow to meet our requirements;·
Economic, competitive, demographic, business and other conditions in our local and regional markets;
 ·
Changes or developments in laws, regulations or taxes in our industry;·
Actions taken or omitted to be taken by third parties including our suppliers and competitors, as well as legislative, regulatory, judicial and other governmental authorities;
 ·
Competition in our industry;·
The loss of or failure to obtain any license or permit necessary or desirable in the operation of our business;
 ·
Changes in our business strategy, capital improvements or development plans;·
The availability of additional capital to support capital improvements and development; and
 ·
Other risks identified in this report and in our other filings with the Securities and Exchange Commission or the SEC.





This report should be read completely and with the understanding that actual future results may be materially different from what we expect. The forward-looking statements included in this report are made as of the date of this report and should be evaluated with consideration of any changes occurring after the date of this Report. We will not update forward-looking statements even though our situation may change in the future and we assume no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.





Use of Term





Except as otherwise indicated by the context, references in this report to “Company”, “PCFP”, “we”, “us” and “our” are references to Pacificorp Holdings, Ltd. All references to “USD” or United States Dollars refer to the legal currency of the United States of America.











3







PART I





ITEM 1.    BUSINESS





Corporate History





We were incorporated on October 6, 2014 and are a startup exploration company without mining operations and we are in the business of mineral exploration. We have no revenues, have achieved losses since inception, have been issued a going concern opinion by our auditors and rely upon the sale of our securities to fund operations. We have not implemented our business plan to date. In order complete Phase 1, with an estimated cost of $7,800 and Phase II, with an estimated cost of $22,374 of our anticipated exploration program. We will need to raise additional funds, with Phase 1 expected to commence between May 1, 2016 and July 31, 2016. To date we have not commenced our exploration program. Our mining claims the Delcer Buttes 1-12 are currently in good standing with Elko County and Bureau of Land Management (BLM) There is no assurance that a commercially viable copper, lead, zinc, and tungsten mineral deposit exists on our mining claims. Further exploration will be required before a final evaluation as to the economic and legal feasibility of our mining claims can be determined. Even if we complete our current exploration program and it is successful in identifying a copper, lead, zinc, and tungsten deposit, we will have to spend substantial funds on further drilling and engineering studies before we will know if we have a commercially viable mineral deposit or reserve.





We entered into a verbal agreement with our consulting Geologist DA Bending to act as an agent to prospect, locate, stake claims, register claims and provide a preliminary geological report for us, and is comprised of one claim block of 12 claims or 240 acres, respectively. The claims are located in the Ruby Valley Approximately 83km southeast of Elko Nevada.  The nearest commercial airport is at Reno, approximately 360 road miles from the property. The Delcer Buttes Property is in good standing with the State of Nevada and The Bureau of Land Management (BLM) and is due for renewal on or before August 31, 2017 at a cost of approximately $2,000. The claims are not accessible all year round, there are periods where our claims may be un-accessible each year due to snow in the area. This means that our exploration activities may be limited to a period of about eight to nine months per year. Further exploration is required before a final evaluation as to the economic and legal feasibility is required to determine whether our mineral claims possess commercially exploitable mineral deposits. We have not, nor has any predecessor, identified any commercially exploitable reserves of these minerals on our mineral claims.





Events Subsequent to January 31, 2017





On March 15, 2017, Mr. Laurie Stephenson was appointed as a member of the board of directors. Additionally, Mr. Stephenson was appointed President, CEO, Secretary and Treasurer of the Corporation, immediately following the resignation of Wan Soo Lee as an officer of the Corporation.





On March 15, 2017 Mr. Kook Chong Yoo tendered his resignation as an officer and director of the Corporation. Additionally, On March 15, 2017 Mr. Wan Soo Lee tendered his resignation as an officer of the Corporation. Mr. Lee will remain as a director of the Corporation.


Additionally, there have been no conflicts with the Corporation or other board members during Mr. Yoo’s tenure as an officer and director and Mr. Lee’s tenure as an officer.





On March 29, 2017 the Registrant entered into a Letter of Intent with Affordable Green Washington LLC of Tacoma WA to obtain an exclusive license to market and distribute Affordable Green’s Products in the State of Washington.





The terms of the Letter of Intent are $50,000 on or before April 30, 2017, $50,000 on or before May 31, 2017 and a balance of $2,000,000 within six months for an aggregate total of $2,100,000.





On May 2, 2017 Mr. Jason Sakowski was appointed to the board of directors and as an officer of the Corporation. Immediately following Mr. Sakowski’s appointment Laurence Stephenson resigned his positions as an officer and director of the Corporation.





There have been no conflicts with the Corporation or other board members during Mr. Stephenson’s tenure as an officer and director and his resignation was a result of conflicting schedules and personal reasons.





On May 4, 2017, the Company entered into an exclusive License Agreement with Affordable Green Washington LLC.





The License Fees shall be due and payable as follows:





$25,000 Due upon execution of the agreement receipt of which has been acknowledged by all parties; $25,000 Due on or before May 15, 2017; and $50,000 Due on or before May 31, 2017; and $2,000,000 on or before September 30, 2017, with closing to occur on or before May 31, 2017.





4


The fee of $25,000 due upon signing of the agreement was paid by a third party on behalf of the Company.





There can be no assurance that the Company will be able to raise the requisite funding associated with the terms and conditions of the License Agreement.  If the funds are not raised





The Licensor may terminate the Agreement upon delivery of written notice to the Licensee if the Licensee has not fulfilled its obligations, and such obligations are not fulfilled within sixty (60) days following delivery to the Licensee by the Licensor of written notice identifying the non-fulfilment and stating its intention to terminate this Agreement if the obligations are not fulfilled within the thirty (60) days.


The License also provides the Company with the right of first refusal to other states that has approved the medical and non-medical application of Marijuana and related products, and first right of refusal for the country of Canada which has scheduled the legalization of Marijuana for medical and non-medical use in 2018. Additionally, the agreement provides the Company with the opportunity to white paper license (use their own Brand) with permission from Affordable Green Washington LLC.





The License Agreement contains customary representations and warranties, any breaches of the representations and warranties will be subject to customary indemnification provisions, subject to specified aggregate limits of liability. The foregoing summary description of the terms of the License Agreement may not contain all information that is of interest to the reader.  The license agreement may be read in its entirety as Exhibit 10.1 to form 8-K filed with the SEC on May 9, 2017.





Additionally Director Wan Soo Lee resigned his position as a director on May 4, 2017





We anticipate that we will incur over the next twelve months the following expenses:





Category

Planned Expenditures Over

The Next 12 Months (US$)Legal and Accounting Fees

$
25,000Licensing Fees


2,100,000Mineral Property Exploration Expenses


30,174TOTAL

$
2,155,174





Our total expenditures over the next twelve months are anticipated to be approximately $2,155,174. Our cash on hand as of January 31, 2016 is $489. We do not have sufficient cash on hand to fund our operations for the next twelve months. We also require additional financing in order to commence exploration on our mining concession.





Insurance





We do not maintain any insurance and do not intend to maintain insurance in the future. Because we do not have any insurance, if we are made a party to a liability action, we may not have sufficient funds to defend the litigation. If that occurs a judgment could be rendered against us that could cause us to cease operations.





Competition





We compete with other mineral resource exploration and development companies for financing and for the acquisition of new mineral properties. Many of the mineral resource exploration and development companies with whom we compete have greater financial and technical resources than us. Accordingly, these competitors may be able to spend greater amounts on acquisitions of mineral properties of merit, on exploration of their mineral properties and on development of their mineral properties. In addition, they may be able to afford greater geological expertise in the targeting and exploration of mineral properties. This competition could result in competitors having mineral properties of greater quality and interest to prospective investors who may finance additional exploration and development. This competition could adversely impact our ability to finance further exploration and to achieve the financing necessary for us to develop our mineral properties.





Research and Development Expenditures





We have not incurred any research expenditures since our incorporation.





Patents and Trademarks





We do not own, either legally or beneficially, any patent or trademark.





Employees; Identification of Certain Significant Employees





Currently, our board of directors devotes approximately 10-15 hours a week of their time to our operations. We currently have no other employees, other than our board members. We will also frequently use third party consultants to assist in the completion of various projects. Third parties are instrumental to keep the development of projects on time and on budget.





5


Government Regulation





If we decide to continue with the acquisition and exploration of mineral properties, we will be required to comply with all regulations, rules and directives of governmental authorities and agencies applicable to the exploration of minerals. All mineral exploration activities carried out on a mineral claim or mining lease must be done in compliance within the jurisdiction’s Bureau of Mines.


This applies to all mines during exploration, development, construction, production, closure, reclamation and abandonment. It outlines the powers of the Chief Inspector of Mines to inspect mines, the procedures for obtaining permits to commence work in, on or about a mine and other procedures to be observed at a mine.





Additionally, the provisions of the Health, Safety and Reclamation Code for mines contain standards for employment, occupational health and safety, accident investigation, work place conditions, protective equipment, training programs, and site supervision. Also, the Mineral Exploration Code contains standards for exploration activities including construction and maintenance, site preparation, drilling, trenching and work in and about a water body.





Additional approvals and authorizations may be required from other government agencies, depending upon the nature and scope of the proposed exploration program. If the exploration activities require the falling of timber, then either a free use permit or a license to cut must be issued by the state. Items such as waste approvals may be required from the State if the proposed exploration activities are significantly large enough to warrant them. Waste approvals refer to the disposal of rock materials removed from the earth which must be reclaimed. An environmental impact statement may be required.





We will also have to sustain the cost of reclamation and environmental remediation for all exploration work undertaken. Both reclamation and environmental remediation refer to putting disturbed ground back as close to its original state as possible. Other potential pollution or damage must be cleaned-up and renewed along standard guidelines outlined in the usual permits. Reclamation is the process of bringing the land back to its natural state after completion of exploration activities. Environmental remediation refers to the physical activity of taking steps to remediate, or remedy, any environmental damage caused. The amount of these costs is not known at this time as we do not know the extent of the exploration program that will be undertaken beyond completion of the recommended work program. Because there is presently no information on the size, tenor, or quality of any resource or reserve at this time, it is impossible to assess the impact of any capital expenditures on earnings, our competitive position or on us in the event a potentially economic deposit is discovered.





If we anticipate disturbing ground during our mineral exploration activities, we may be required to make an application to the State for a permit. We do not anticipate any difficulties in obtaining a permit, if needed. Initial exploration activities (grid establishment, geological mapping, soil sampling, geophysical surveys) do not involve ground disturbance and as a result do not, at this time, require a work permit. Any follow-up trenching and/or drilling will require permits, applications for which will be submitted well in advance of the planned work.





If we enter the production phase, of which there is no assurance, the cost of complying with permit and regulatory environment laws will be greater because the impact on the project area is greater. Permits and regulations will control all aspects of the production program if the project continues to that stage. The regulatory requirements that we will have to meet will likely include:





i.
Ensuring that any water discharge meets drinking water standards;ii.
Dust generation will have to be minimal or otherwise remediated;


iii.
Dumping of material on the surface will have to be re-contoured and re-vegetated with natural vegetation;iv.
All material to be left on the surface will need to be environmentally benign;


v.
Ground water will have to be monitored for any potential contaminants;vi.
The socio-economic impact of the project will have to be evaluated and if deemed negative, will have to be re-mediated; and


vii.
There will have to be an impact report of the work on the local fauna and flora including a study of potentially endangered species.





WHERE YOU CAN GET ADDITIONAL INFORMATION





We file annual, quarterly and current reports, proxy statements and other information with the SEC. You may read and copy our reports or other filings made with the SEC at the SEC’s Public Reference Room, located at 100 F Street, N.E., Washington, DC 20549. You can obtain information on the operations of the Public Reference Room by calling the SEC at 1-800-SEC-0330. You can also access these reports and other filings electronically on the SEC’s web site, www.sec.gov.











6





ITEM 1A.             RISK FACTORS





We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.





ITEM 1B.             UNRESOLVED STAFF COMMENTS





None.





ITEM 2.                PROPERTIES










ITEM 3.                LEGAL PROCEEDINGS





We know of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which our director, officer or any affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.





ITEM 4.               [MINE SAFETY DISCLOSURES]








7


PART II





ITEM 5.                MARKET FOR THE COMPANY’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES




Common Stock





Our common stock had been quoted on the OTC Bulletin Board since October 2, 2015 and is currently on the OTC Markets Pink Sheets under the symbol PCFP.OB”.





The following table sets forth the high and low bid prices for our Common Stock per quarter as reported by the OTC Markets Pink Sheets for the quarterly periods indicated below based on our fiscal year end of January 31, 2017. These prices represent quotations between dealers without adjustment for retail mark-up, markdown or commission and may not represent actual transactions.





Fiscal Quarter
High
LowFirst Quarter (February 1, 2016– April 31,2016)
$0
$0Second Quarter (May1, 2016– July 31, 2016)
$0
$0Third Quarter (August 1, 2016– October 31, 2016)
$0
$0Fourth Quarter (November 1, 2016–January 31, 2016)
$0
$0





Record Holders





As of January 31, 2017, an aggregate of 8,390,000 shares of our Common Stock were issued and outstanding and were owned by approximately 37 holders of record, based on information provided by our transfer agent.





Recent Sales of Unregistered Securities





None.





Re-Purchase of Equity Securities





None.





Dividends





We have never declared or paid any cash dividends on our common stock. We currently intend to retain future earnings, if any, to finance the expansion of our business. As a result, we do not anticipate paying any cash dividends in the foreseeable future.





Securities Authorized for Issuance Under Equity Compensation Plans





None.





ITEM 6.               SELECTED FINANCIAL DATA





We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.





8


ITEM 7.               MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION





This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements are not historical facts but rather are based on current expectations, estimates and projections. We may use words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “foresee,” “estimate” and variations of these words and similar expressions to identify forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted. You should read this report completely and with the understanding that actual future results may be materially different from what we expect. The forward-looking statements included in this report are made as of the date of this report and should be evaluated with consideration of any changes occurring after the date of this Report. We will not update forward-looking statements even though our situation may change in the future and we assume no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.





RESULTS OF OPERATIONS





Working Capital





January 31, 2017


January 31, 2016Current Assets

$
489


$
3,358Current Liabilities

$
33,135


$
29,283Working Capital

$
(32,646
)


(25,925)





Cash Flows


Year Ended


Year EndedJanuary 31, 2017


January 31, 2016Cash Flows used in Operating Activities

$
(11,391
)

$
(25,529
)Cash Flows used in Investing Activities


-



-Cash Flows provided by Financing Activities


8,522



1,341Net Change During Period

$
(2,869
)

$
(24,188)





Operating Revenues





We have not generated any revenues since inception.





Operating Expenses and Net Loss





Operating expenses for the year ended January 31, 2017 were $14,771 compared with $34,250 for the year ended January 31, 2016. The decrease in operating expenditures was a result of lower costs associated with filing the Company's ongoing reporting requirements and lack of operating capital.





Net loss for the year ended January 31, 2017 was $17,786 compared with $39,388 for the year ended January 31, 2016. The overall decrease in net loss of $21,602 was attributed to the lower costs associated with filing the Company's ongoing reporting requirements and lack of additional operating capital.





Liquidity and Capital Resources





As at January 31, 2017, the Company’s cash balance was $489 compared to $3,358 as at January 31, 2016 and its total assets were $489 compared with $3,358 as at January 31, 2016. The decrease in cash is attributed to costs associated with filing the Company's Registration Statement and ongoing reporting requirements.





As at January 31, 2017, the Company had total liabilities of $33,135 compared with total liabilities of $29,283 as at January 31, 2016. The change in total liabilities was attributed to increases in accounts payable and loan from related party.





As at January 31, 2017, the Company had a working capital of $(32,646) compared with $(25,925) as at January 2016. The increase in working capital deficit was attributed to the costs associated with filing the Company's ongoing reporting requirements and to increases in accounts payable and loan from related party.


.


9


Cashflow from Operating Activities





During the year ended January 31, 2017, the Company used $11,391 of cash for operating activities compared to the use of $25,529 of cash for operating activities during the year ended January 31, 2016.





Cashflow from Financing Activities





During the year ended January 31, 2017, the Company received $8,522 of cash from financing activities compared to $1,341for the year ended January 31, 2016.





Off-Balance Sheet Arrangements





We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.





Going Concern





We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive activities. For these reasons, our auditors stated in their report on our audited financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing.





Future Financings





We will continue to rely on equity sales of our common shares in order to continue to fund our business operations. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that we will achieve any additional sales of the equity securities or arrange for debt or other financing to fund planned acquisitions and exploration activities.








Critical Accounting Policies





We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in the notes to the audited financial statements included in this Annual Report.





Use of Estimates





The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes for the reporting period. Significant areas requiring the use of management estimates relate to the valuation of its mineral leases and claims and our ability to obtain final government permission to complete the project.





Cost of Maintaining Mineral Properties





We do not accrue the estimated future costs of maintaining our mineral properties in good standing.





Mineral claim acquisition and exploration costs





The cost of acquiring mineral properties or claims is initially capitalized and then tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. Mineral exploration costs are expensed as incurred.





Our exploration activities and proposed mine development are subject to various laws and regulations governing the protection of the environment. These laws are continually changing, generally becoming more restrictive. We have made, and expect to make in the future, expenditures to comply with such laws and regulations.





The accumulated costs of properties that are developed in the stage of commercial production will be amortized to operations through unit-of-production depletion.





10


Recently Issued Accounting Pronouncements




The Company does not expect the adoption of any recent accounting pronouncements to have a material impact on its financial statements.





Contractual Obligations





We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.





ITEM 7A.             QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK





We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.





ITEM 8.               FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA








Financial Statements





Pacificorp Holdings, Ltd.








IndexReport of Independent Registered Public Accounting Firm
F-1Balance Sheet
F-2Statements of Operations
F-3Statement of Stockholders' Equity (Deficit)
F-4Statement of Cash Flows
F-5Notes to the Financial Statements
F-6 to F-11











11








Report of Independent Registered Public Accounting Firm








To the Board of Directors and Stockholders





Pacificorp Holdings, LTD





We have audited the accompanying balance sheets of Pacificorp Holdings, LTD as of January 31, 2017 and 2016, and the related statements of operations, changes in stockholders’ equity and cash flows for the years then ended. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits.





We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits include consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, 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 include examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our audits also include assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.





In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Pacificorp Holdings, Ltd. as of January 31, 2017 and 2016 and the related statement of operations, changes in stockholders’ equity and cash flows for the years then ended in conformity with U.S. generally accepted accounting principles.





The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the financial statements, the Company has had no revenues and earnings since inception. These conditions, among others, raise substantial doubt about the Company’s ability to continue as a going concern. Management's plans concerning these matters are also described in Note 3, which includes achieving profitable operations and raising additional funds through financing. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.








/s/ TAAD, LLP





Walnut, CA


May 12, 2017








F-1


Pacificorp Holdings, Ltd.
 BALANCE SHEETS




January

31, 2017


January

31, 2016ASSETSCurrent assets:Cash

$
489


$
3,358Total assets


489



3,358LIABILITIES AND STOCKHOLDERS' DEFICITCurrent liabilities:Accounts Payable and Accrued Liabilities


4,601



1,221Related Party Loan


28,534



28,062Total liabilities


33,135



29,283Stockholders' deficit:Common stock; authorized 100,000,000; 8,390,000 shares at $0.001 par value


8,390



8,390Additional Paid in Capital


37,713



26,648Deficit accumulated


(78,749
)


(60,963
)Total stockholders' deficit


(32,646
)


(25,925
)Total liabilities and stockholders' equity

$
489


$
3,358The accompanying notes are an integral part of these financial statements





F-2





Pacificorp Holdings, Ltd.


STATEMENTS OF OPERATIONS





For the Year Ended

January 31, 2017


For the Year Ended

January 31, 2016Operating Expenses:General and administrative

$
14,771


$
34,250Total Operating Expenses


14,771



34,250Other ExpensesInterest Expense, net


3,015



5,138Net loss for the period

$
(17,786
)

$
(39,388
)Net loss per share:Basic and diluted

$
-


$
-Weighted average number of shares outstanding:Basic and diluted


8,390,000



8,390,000The accompanying notes are an integral part of these financial statements








F-3




Pacificorp Holdings, Ltd. STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY




Number of Shares


Common Stock

Par Value


Additional Paid

in Capital


Accumulated

Deficit


Total Shareholders`

EquityBALANCE OCTOBER 6, 2014 (INCEPTION)


-


$
-


$
-


$
-


$
-Shares subscribed at $0.001


6,000,000



6,000











8,390Shares subscribed at $0.01


2,390,000



2,390



21,510







21,510Net loss






-







(21,575
)


(21,575
)BALANCE JANUARY 31, 2015


8,390,000


$
8,390


$
21,510


$
(21,575
)

$
8,325Interest Expense


-



-



5,138



-



5,138Net Loss


-



-



-



(39,388
)


(39,388
)BALANCE JANUARY 31, 2016


8,390,000


$
8,390


$
26,648


$
(60,963
)

$
(25,925
)Imputed Interest Expense


-



-



3,047



-



3,015Shareholder Contributions


-



-



9,595



-



8050Net Loss


-



-



-



(17,786
)


(17,786
)BALANCE JANUARY 31, 2017


-



-



39,259



(78,749
)


(32,646
)


The accompanying notes are an integral part of these financial statements








F-4





Pacificorp Holdings, Ltd
 STATEMENTS OF CASH FLOWS





For the Year Ended

January 31, 2017


For the Year Ended

January 31, 2016Cash flow from operating activities:Net loss

$
(17,786
)

$
(39,388
)Imputed Interest Expense


3,015



5,138Changes in operating assets and liabilities:Prepaid Expenses





$
7,500Accounts Payable


3,380



1,221Net Cash Used in Operating activities

$
(11,391
)

$
(25,529
)Cash flows from financing activities:Proceeds from Related Party Loan


472



1,341Contributions from Shareholder


8,050



-Net cash provided by financing activities


8,522



1,341Decrease in cash during the period


(2,869
)


(24,188
)Cash, beginning of period


3,358



27,546Cash, end of period

$
489


$
3,358Supplemental disclosure of cash flow information:Cash paid during the periodTaxes

$
-


$
-Interest

$
-


$
-The accompanying notes are an integral part of these financial statements








F-5




PACIFICORP HOLDINGS, LTD.


NOTES TO FINANCIAL STATEMENTS





NOTE 1 -ORGANIZATION AND BASIS OF PRESENTATION





Pacificorp Holdings, Ltd. (the "Company") was incorporated in the State of Nevada on October 6, 2014. The Company was organized to develop and explore mineral properties in the State of Nevada.





These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States and are expressed in United States (US) dollars. The Company has not produced any revenue from its principal business.





NOTE 2 -SIGNIFICANT ACCOUNTING POLICIES





Basis of Presentation





The audited financial statements of the Company and the accompanying notes included in this Annual Report on Form 10-K are audited. In the opinion of management, all adjustments necessary for a fair presentation of the Condensed Financial Statements have been included. Such adjustments are of a normal, recurring nature. The Financial Statements, and the accompanying notes, are prepared in accordance with generally accepted accounting principles in the United States ("GAAP").





Cash and Cash Equivalents


The Company considers all liquid investments with a maturity of three months or less from the date of purchase that are readily convertible into cash to be cash equivalents. As of January 31, 2017and January 31, 2016, there were no cash equivalents.





Use of Estimates





The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.





Impairment of Long Lived Assets





The Company tests its assets for recoverability whenever events or changes in circumstances indicate that the related carrying amount may not be recoverable, which includes comparing the carrying amount of a long-lived asset to the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. An impairment loss would be measured as the amount by which the carrying amount of a long-lived asset exceeds its fair value. For the Company's mining claims, this test includes examining the discounted and undiscounted cash flows associated with value beyond proven and probable reserves, in determining whether the mining claim is impaired. The mining claim is fully impaired as of January 31, 2017 and 2016.





Start-up Expenses





The Company expenses costs associated with start-up activities as incurred. Accordingly, start-up costs associated with the Company's formation have been included in the Company's general and administrative expenses.





F-6





PACIFICORP HOLDINGS, LTD.


NOTES TO FINANCIAL STATEMENTS








Mining Interests and Exploration Expenditures





Exploration costs are expensed in the period in which they occur. The Company capitalizes costs for acquiring and leasing mineral properties and expenses costs to maintain mineral rights as incurred. Should a property reach the production stage, these capitalized costs would be amortized using the units-of-production method on the basis of periodic estimates of ore reserves. Mineral interests are periodically assessed for impairment of value, and any subsequent losses are charged to operations at the time of impairment. If a property is abandoned or sold, its capitalized costs are charged to operations.





Income Taxes


The Company utilizes FASB ACS 740, “Income Taxes,” which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns.  Under this method, deferred tax assets and liabilities are determined based on the difference between the tax basis of assets and liabilities and their financial reporting amounts based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income.  Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.





The accounting guidance for uncertainties in income tax prescribes a comprehensive model for the financial statement recognition, measurement, presentation, and disclosure of uncertain tax positions taken or expected to be taken in income tax returns. The Company recognizes a tax benefit from an uncertain tax position in the financial statements only when it is more likely than not that the position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits and a consideration of the relevant taxing authority’s widely understood administrative practices and precedents.


Interest and penalties on tax deficiencies recognized in accordance with ACS accounting standards are classified as income taxes in accordance with ASC Topic 740-10-50-19.





We have implemented certain provisions of ASC 740, Income Taxes (“ASC 740”), which clarifies the accounting and disclosure for uncertain tax positions, as defined. ASC 740 seeks to reduce the diversity in practice associated with certain aspects of the recognition and measurement related to accounting for income taxes.  We adopted the provisions of ASC 740 and have analyzed filing positions in United States jurisdictions where we are required to file income tax returns, as well as all open tax years in these jurisdictions.  We have identified the United States as our "major" tax jurisdiction.  Generally, we remain subject to United States examination of our income tax returns.





Fair Value of Financial Instruments





The Financial Accounting Standards Board issued ASC (Accounting Standards Codification) 820-10 (SFAS No. 157), “Fair Value Measurements and Disclosures" for financial assets and liabilities. ASC 820-10 provides a framework for measuring fair value and requires expanded disclosures regarding fair value measurements.





FASB ASC 820-10 defines fair value as the price that would be received for an asset or the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date.  FASB ASC 820-10 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs, where available. The following summarizes the three levels of inputs required by the standard that the Company uses to measure fair value:





-
Level 1: Quoted prices in active markets for identical assets or liabilities-
Level 2: Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities.-
Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.





F-7




PACIFICORP HOLDINGS, LTD.


NOTES TO FINANCIAL STATEMENTS








Basic and Diluted Earnings Per Share





Net loss per share is calculated in accordance with FASB ASC 260, Earnings Per Share, for the period presented.  ASC 260 requires presentation of basic earnings per share and diluted earnings per share.  Basic income (loss) per share (“Basic EPS”) is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share (“Diluted EPS”) is similarly calculated. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. For the years ended January 31, 2017and 2016, there were no potentially dilutive securities.





Recent Accounting Pronouncements








In January 2015, FASB issued Accounting Standards Update (ASU) No. 201501 Income Statement – Extraordinary and Unusual Items, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. Eliminating the concept of extraordinary items will save time and reduce costs for preparers because they will not have to assess whether a particular event or transaction event is extraordinary (even if they ultimately would conclude it is not). This also alleviates uncertainty for preparers, auditors, and regulators because auditors and regulators no longer will need to evaluate whether a preparer treated an unusual and/or infrequent item appropriately. This update is effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2015. Early application is permitted.





In April 2015, the FASB issued ASU 2015-03, Interest—Imputation of Interest (Subtopic 835-30)(“ASU 2015-03”), as part of the initiative to reduce complexity in accounting standards. The update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for annual periods beginning after December 15, 2015 and for interim periods within those fiscal years.





The amendments in ASU 2013-04 provide guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this update is fixed at the reporting date, except for obligations addressed within existing guidance in U.S. GAAP.





The guidance requires an entity to measure those obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The guidance in this Update also requires an entity to disclose the nature and amount of the obligation as well as other information about those obligations. The amendment in this standard is effective retrospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. We are evaluating the effect, if any, adoption of ASU No. 2013-04 will have on our financial statements.








F-8











PACIFICORP HOLDINGS, LTD.


NOTES TO FINANCIAL STATEMENTS








In April 2013, the FASB issued ASU No. 2013-07, Presentation of Financial Statements (Top 205): Liquidation Basis of Accounting. The objective of ASU No. 2013-07 is to clarify when an entity should apply the liquidation basis of accounting and to provide principles for the measurement of assets and liabilities under the liquidation basis of accounting, as well as any required disclosures. The amendments in this standard is effective prospectively for entities that determine liquidation is imminent during annual reporting periods beginning after December 15, 2013, and interim reporting periods therein. We are evaluating the effect, if any, adoption of ASU No. 2013-07 will have on our financial statements.





Recent Accounting Pronouncements – Not Adopted





In August 2014, the FASB issued the FASB Accounting Standards Update No. 2014-15 “Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”).





In connection with preparing financial statements for each annual and interim reporting period, an entity’s management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued(or within one year after the date that the financial statements are available to be issuedwhen applicable). Management’s evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued(or at the date that the financial statements are available to be issuedwhen applicable). Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued (or available to be issued). The term probableis used consistently with its use in Topic 450, Contingencies.





When management identifies conditions or events that raise substantial doubt about an entity’s ability to continue as a going concern, management should consider whether its plans that are intended to mitigate those relevant conditions or events will alleviate the substantial doubt. The mitigating effect of management’s plans should be considered only to the extent that (1) it is probable that the plans will be effectively implemented and, if so, (2) it is probable that the plans will mitigate the conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern.





If conditions or events raise substantial doubt about an entity’s ability to continue as a going concern, but the substantial doubt is alleviated as a result of consideration of management’s plans, the entity should disclose information that enables users of the financial statements to understand all of the following (or refer to similar information disclosed elsewhere in the footnotes):





a.
Principal conditions or events that raised substantial doubt about the entity’s ability to continue as a going concern (before consideration of management’s plans)b.
Management’s evaluation of the significance of those conditions or events in relation to the entity’s ability to meet its obligations


c.
Management’s plans that alleviated substantial doubt about the entity’s ability to continue as a going concern.





If conditions or events raise substantial doubt about an entity’s ability to continue as a going concern, and substantial doubt is not alleviated after consideration of management’s plans, an entity should include a statement in the footnotes indicating that there is substantial doubt about the entity’s ability to continue as a going concernwithin one year after the date that the financial statements are issued (or available to be issued). Additionally, the entity should disclose information that enables users of the financial statements to understand all of the following:


a.
Principal conditions or events that raise substantial doubt about the entity’s ability to continue as a going concernb.
Management’s evaluation of the significance of those conditions or events in relation to the entity’s ability to meet its obligationsc.
Management’s plans that are intended to mitigate the conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern.
 
 The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted.
 
 In February 2013, the FASB issued ASU No. 2013-04, Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date.





F-9








PACIFICORP HOLDINGS, LTD.


NOTES TO FINANCIAL STATEMENTS








The amendments in ASU 2013-04 provide guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this update is fixed at the reporting date, except for obligations addressed within existing guidance in U.S. GAAP. The guidance requires an entity to measure those obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The guidance in this Update also requires an entity to disclose the nature and amount of the obligation as well as other information about those obligations. The amendment in this standard is effective retrospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. The adoption of ASU No. 2013-04 did not have a material impact on our financial statements.





In April 2013, the FASB issued ASU No. 2013-07, Presentation of Financial Statements (Top 205): Liquidation Basis of Accounting. The objective of ASU No. 2013-07 is to clarify when an entity should apply the liquidation basis of accounting and to provide principles for the measurement of assets and liabilities under the liquidation basis of accounting, as well as any required disclosures. The amendments in this standard is effective prospectively for entities that determine liquidation is imminent during annual reporting periods beginning after December 15, 2013,and interim reporting periods therein. The adoption of ASU No. 2013-07 did not have a material impact on our financial statements.





NOTE 3 – GOING CONCERN





The Company has sustained operating losses since inception. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its shareholders or other sources, as may be required.





The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company’s ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.





Management is endeavoring to begin exploration activities however, may not be able to do so within the next fiscal year.  Management is also seeking to raise additional working capital through various financing sources, including the sale of the Company’s equity securities, which may not be available on commercially reasonable terms, if at all.





If such financing is not available on satisfactory terms, we may be unable to continue our business as desired and operating results will be adversely affected. In addition, any financing arrangement may have potentially adverse effects on us or our stockholders. Debt financing (if available and undertaken) will increase expenses, must be repaid regardless of operating results and may involve restrictions limiting our operating flexibility. If we issue equity securities to raise additional funds, the percentage ownership of our existing stockholders will be reduced and the new equity securities may have rights, preferences or privileges senior to those of the holders of our common stock.


NOTE 4– STOCK SUBSCRIPTIONS RECEIVED





Between July 25 and September 12, 2014 the Company received $29,390 for common stock subscriptions. 6,000,000 of these shares were subscribed for by the officers and directors of the Company at $.001 per share. The remaining 2,390,000 shares were subscribed for by third parties at $.01 per share. At January 31, 2016, the Company has issued all shares related to these common stock subscriptions.





NOTE 5 – LOAN FROM RELATED PARTY





During the period from inception to January 31, 2017  the Company received advances totaling $28,534 from the CEO of the Company, the advance is unsecured, non-interest bearing and is due upon demand giving 30 days written notice to the borrower.  The company has calculated imputed interest of $3,015 and recorded under additional paid in capital.


F-10
 PACIFICORP HOLDINGS, LTD.
 NOTES TO FINANCIAL STATEMENTS


NOTE 6 – SUBSEQUENT EVENTS





On March 15, 2017, Mr. Laurie Stephenson was appointed as a member of the board of directors. Additionally, Mr. Stephenson was appointed President, CEO, Secretary and Treasurer of the Corporation, immediately following the resignation of Wan Soo Lee as an officer of the Corporation.





On March 15, 2017 Mr. Kook Chong Yoo tendered his resignation as an officer and director of the Corporation. Additionally, On March 15, 2017 Mr. Wan Soo Lee tendered his resignation as an officer of the Corporation. Mr. Lee will remain as a director of the Corporation.


Additionally, there have been no conflicts with the Corporation or other board members during Mr. Yoo’s tenure as an officer and director and Mr. Lee’s tenure as an officer.





On March 29, 2017 the Registrant entered into a Letter of Intent with Affordable Green Washington LLC of Tacoma WA to obtain an exclusive license to market and distribute Affordable Green’s Products in the State of Washington.





The terms of the Letter of Intent are $50,000 on or before April 30, 2017, $50,000 on or before May 31, 2017 and a balance of $2,000,000 within six months for an aggregate total of $2,100,000.





On May 2, 2017 Mr. Jason Sakowski was appointed to the board of directors and as an officer of the Corporation. Immediately following Mr. Sakowski’s appointment Laurence Stephenson resigned his positions as an officer and director of the Corporation.





There have been no conflicts with the Corporation or other board members during Mr. Stephenson’s tenure as an officer and director and his resignation was a result of conflicting schedules and personal reasons.





On May 4, 2017, the Company entered into an exclusive License Agreement with Affordable Green Washington LLC.





The License Fees shall be due and payable as follows:





$25,000 Due upon execution of the agreement receipt of which has been acknowledged by all parties; $25,000 Due on or before May 15, 2017; and $50,000 Due on or before May 31, 2017; and $2,000,000 on or before September 30, 2017, with closing to occur on or before May 31, 2017.





The fee of $25,000 due upon signing of the agreement was paid by a third party on behalf of the Company.





There can be no assurance that the Company will be able to raise the requisite funding associated with the terms and conditions of the License Agreement.





The Licensor may terminate the Agreement upon delivery of written notice to the Licensee if the Licensee has not fulfilled its obligations, and such obligations are not fulfilled within sixty (60) days following delivery to the Licensee by the Licensor of written notice identifying the non-fulfilment and stating its intention to terminate this Agreement if the obligations are not fulfilled within the thirty (60) days.




The License also provides the Company with the right of first refusal to other states that has approved the medical and non-medical application of Marijuana and related products, and first right of refusal for the country of Canada which has scheduled the legalization of Marijuana for medical and non-medical use in 2018. Additionally, the agreement provides the Company with the opportunity to white paper license (use their own Brand) with permission from Affordable Green Washington LLC.





The License Agreement contains customary representations and warranties, any breaches of the representations and warranties will be subject to customary indemnification provisions, subject to specified aggregate limits of liability. The foregoing summary description of the terms of the License Agreement may not contain all information that is of interest to the reader.  The license agreement may be read in its entirety as Exhibit 10.1 to form 8-K filed with the SEC on May 9, 2017.





On May 4, 2017, Director Wan Soo Lee resigned his position as a director.





F-11








ITEM 9.                CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.





There were no disagreements with our accountants related to accounting principles or practices, financial statement disclosure, internal controls or auditing scope or procedure during the last two fiscal years and subsequent interim periods.





ITEM 9A.             CONTROLS AND PROCEDURES.





Disclosure Controls and Procedures





We maintain disclosure controls and procedures, as defined in Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934 (the "Exchange Act"), that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.





We carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of January 31, 2016. Based on the evaluation of these disclosure controls and procedures, and in light of the material weaknesses found in our internal controls over financial reporting, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective.





Management’s Report on Internal Control Over Financial Reporting





Management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Exchange Act Rule 13a-15(f). The Company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America.





Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.





Under the supervision and with the participation of management, including the Chief Executive Officer and Chief Financial Officer, the Company conducted an evaluation of the effectiveness of the Company’s internal control over financial reporting as of January 31, 2017 using the criteria established in “Internal Control - Integrated Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO").





A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis. In its assessment of the effectiveness of internal control over financial reporting as of January 31, 2016, the Company determined that there were control deficiencies that constituted material weaknesses, as described below.





1.
We do not have an Audit Committee– While not being legally obligated to have an audit committee, it is the management’s view that such a committee, including a financial expert member, is an utmost important entity level control over the Company’s financial statements. Currently the Board of Directors acts in the capacity of the Audit Committee, and does not include a member that is considered to be independent of management to provide the necessary oversight over management’s activities.2.
We did not maintain appropriate cash controls– As of January 31, 2017, the Company has not maintained sufficient internal controls over financial reporting for the cash process, including failure to segregate cash handling and accounting functions, and did not require dual signature on the Company’s bank accounts.  Alternatively, the effects of poor cash controls were mitigated by the fact that the Company had limited transactions in their bank accounts.3.
We did not implement appropriate information technology controls – As at January 31, 2017 the Company retains copies of all financial data and material agreements; however there is no formal procedure or evidence of normal backup of the Company’s data or off-site storage of the data in the event of theft, misplacement, or loss due to unmitigated factors.





Accordingly, the Company concluded that these control deficiencies resulted in a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis by the Company’s internal controls.





As a result of the material weaknesses described above, management has concluded that the Company did not maintain effective internal control over financial reporting as of January 31, 2017 based on criteria established in Internal Control—Integrated Framework issued by COSO.





12





Changes in Internal Control over Financial Reporting





There has been no change in our internal control over financial reporting identified in connection with our evaluation we conducted of the effectiveness of our internal control over financial reporting as of January 31, 2017, that occurred during our fourth fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.





This annual report does not include an attestation report of the Company’s registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by the Company’s registered public accounting firm pursuant to temporary rules of the SEC that permit the Company to provide only management’s report in this annual report.





Continuing Remediation Efforts to address deficiencies in Company’s Internal Control over Financial Reporting





Once the Company is engaged in a business of merit and has sufficient personnel available, then our Board of Directors, in particular and in connection with the aforementioned deficiencies, will establish the following remediation measures:


1.
Our Board of Directors will nominate an audit committee or a financial expert on our Board of Directors in the next fiscal year, 2017- 2018.2.
We will appoint additional personnel to assist with the preparation of the Company’s monthly financial reporting, including preparation of the monthly bank reconciliations.





ITEM 9B.            OTHER INFORMATION.





None.





PART III





ITEM 10.             DIRECTORS AND EXECUTIVE OFFICERS.





Identification of Directors and Executive Officers





The following table sets forth the names and ages of our current director(s) and executive officer(s):





Name
Age
Position with the Company
Director SinceWan Soo Lee
62
CEO, CFO, President, & Director
October 6, 2014Kook Chong Yoo
51
Treasurer, Secretary, & Director
October 6, 2014Laurence Stephenson
64
CEO, CFO, President, & Director
March 15, 2017Jason Sakowski
50
Treasurer, Secretary, & Director
May 2, 2017





The board of directors has no nominating, audit or compensation committee at this time.











13





Term of Office





Each of our directors is appointed to hold office until the next annual meeting of our stockholders or until his respective successor is elected and qualified, or until he resigns or is removed in accordance with the provisions of the Nevada General Corporate Law. Our officers are appointed by our Board of Directors and hold office until removed by the Board or until their resignation


­­


Background and Business Experience





The business experience during the past five years of the person presently listed above as an Officer or Director of the Company is as follows:





Wan Soo Lee:Wan Soo Lee has acted as our President, Chief Executive Officer, Chief Financial officer and Director since our inception on October 6, 2014.Wan Soo Lee has specific experience and a background in Mechanical Engineering, and supervising large commercial developments and overseeing numerous employees. From 1990 to present Wan Soo Lee, has been employed by Sam Kook Ltd. in various positions from ranging from supervisor to project manager and has been responsible for overseeing and supervising large commercial developments and overseeing numerous employees.   Wan Soo Lee currently sits on the board of directors of Sam Kook Ltd. as an executive director.  Sam Kook Ltd. is a company that specializes in large commercial applications (Office Towers, Complexes, etc.) for heating, cooling, fire extinguishing, plumbing and drainage systems. Wan Soo Lee also holds a degree in engineering from Hong LK University. Mr. Lee resigned his positions as an officer of the Company on March15, 2017 and still remains a director of the Company.





Kook Chong Yoo:Kook Chong Yoo has acted as our as our Treasurer, and Chief Accounting Officer and Director since our inception on October 6, 2014. Kook Chong Yoo has specific experience and a background in finance, planning and budgeting, and supervision.  From 1990 to 2011 Kook Chong Yoo worked for the City of Seoul Korea, as a supervisor of three departments during his tenure with the City of Seoul, (population 9.82 m "Google"). These included, city planning and budgeting, social services and maintenance and security, and was responsible for overseeing numerous city employees with these departments. Upon Mr. Yoo's leaving the employ of the City of Seoul in 2011, to the start up of his own real estate company in 2013, Mr. Yoo took time off to explore and evaluate other business opportunities, which included obtaining his Real estate license.  From 2013 to present Kook Chong Yoo own and operates his own real estate firm.  Kook Chong Yoo also holds a degree in English language and literature from Gyeong Gi University. Mr. Yoo resigned his positions as a director and officer on March 15, 2017.





Laurence Stephenson: Was appointed to the Board of directors on March 15, 2017. Mr. Stephenson graduated in 1975, from Carleton University in Ottawa, Ontario, Canada, with a Bachelor of Science Degree in geology and in 1985, from York University in Toronto Ontario, Canada, with a Masters of Business Administration is responsible for  negotiations with numerous exploration companies, prospectors and governmental departments to secure prospects and permits to enable various junior companies to conduct their exploration programs.  In addition, to hiring and evaluating geological staff, preparing engineering and assessment reports, investor reports and business plans, he was responsible for ensuring the company conformed to Securities and Mining regulations.





From 1975 to 1985, Mr. Stephenson was District Geologist for Duval International Corporation of Toronto, Ontario where his duties the planning, organizing and budgeting for exploration programs throughout Eastern Canada and the United States. During that time, he assisted in the formation of local governmental lobby groups in the Province of Newfoundland and Labrador.





In October 1987, Mr. Stephenson became a director of Glencairn Explorations Ltd., a company listed on the TSX Venture Exchange where he was instrumental in organizing the company’s venture into a South American diamond placer project and participating in financing and geological advise with respect to ongoing ventures for the company including the start up of gold producer Wheaton River Explorations Inc., an independent subsidiary of Glencairn Explorations Ltd.  He remained a director of this company until 2002.





In 1989, he initiated a junior exploration company, Kokanee Explorations Ltd. which raised over $8 million for exploration ventures in Canada and the United States and was the director of exploration for Golden Chief Resources when it concluded and operated it’s 1998/99 joint venture with Kinross Gold Company on the Atlanta Property of eastern Nevada.





Since 1999, Mr. Stephenson was involved in the re-organization of Sutcliffe Resources Inc., a company listed on the Toronto Venture Stock Exchange in Canada, which subsequently raised $55 million for projects in Russia.





In addition, to working with Sutcliffe Resources Inc. (2001-2008) he worked with   several associated Junior mineral exploration and development companies in the Senior Geologist Manager role including Consolidated Goldwin Ventures (Now WestKam Gold Inc) , Sidon International Resources (now Cameo Resources Ltd.) and Douglas Lake Minerals Inc(now Handeni Gold Inc) directing exploration for the companies throughout Canada the United States and throughout the world (South America; Africa and Australia including Diamond Projects in NWT, copper platinum in Ungava Project, Northern Canada copper in Dolly Varden Property of eastern Nevada, USA, gold in Kamloops British Columbia, Canada gold in Tanzania and gold and Diamonds in Brazil).





In 2006-2010 he was the lead geologist promoter to successfully bring Kokanee Minerals to full trading status on the TSX – Venture Exchange (2010) and subsequently developed the project in Tanzania that the company raise $7.5 million on for exploration.


He has directed the exploration and development expenditures of over $20 million during the last 10 years as the main Consultant to True Zone Resources and Cameo Resources as well as directing Preston Corp on the OTC BB to a successful start-up.





Mr. Stephenson as a professional engineer is responsible for directing and ensuring that all operations are conducted in a workman like way and comply with regulatory rules. Mr. Stephenson resigned his position as an officer and director on May 2, 2017 as aresult of conflicting schedules and for personal reasons. There were no conflicts with Mr. Stephenson and other board members.





Jason Sakowski:Mr Sakowski was appointed to the board of directors on May 2, 2017. He is currently President, Chief Executive Officer, Chief Financial Officer, Principal Accounting Officer, Treasurer, Secretary, Director of Global Karaoke Network, Inc. Mr. Sakowski has executive management experience in the music industry. He began his career working with up and coming rock bands such as Nickelback, Jar and Noise Therapy. He became well known in the North American and international touring circuit over the next decade, hitting the road with such platinum and multi-platinum selling artists as Nickelback, Theory Of A Deadman, Three Days Grace, All American Rejects, and Hoobastank. In the process, he gained considerable experience and knowledge about breaking and developing bands from the beginning stages to global success. Mr. Sakowski served as the Production Manager for Hoobastank from January 2005 through October of 2010. In November of 2007, he founded his own management company called 38 Entertainment, Inc. and he currently serves as its President. In December of 2010 Mr. Sakowski became President of Arsenic Records, a full service record/management company based in Nashville, Tennessee. Currently, he is working on various projects with Chris Henderson of 3 Doors Down and world-renowned producer/engineer, Kevin Churko, along with record producer Toby Wright.





14


.Identification of Significant Employees





We have no significant employees other than our Board of Directors





Family Relationships





We currently do not have any officers or directors of our Company who are related to each other.





Involvement in Certain Legal Proceedings





During the past ten years no director, executive officer, promoter or control person of the Company has been involved in the following:





(1)
A petition under the Federal bankruptcy laws or any state insolvency law which was filed by or against, or a receiver, fiscal agent or similar officer was appointed by a court for the business or property of such person, or any partnership in which he was a general partner at or within two years before the time of such filing, or any corporation or business association of which he was an executive officer at or within two years before the time of such filing;





(2)
Such person was convicted in a criminal proceeding or is a named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses);





(3)
Such person was the subject of any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him from, or otherwise limiting, the following activities:





i.
Acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures Trading Commission, or an associated person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment company, bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection with such activity;





ii.
Engaging in any type of business practice; or





iii.
Engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of Federal or State securities laws or Federal commodities laws;





(4)
Such person was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any Federal or State authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described in paragraph (f)(3)(i) of this section, or to be associated with persons engaged in any such activity;





(5)
Such person was found by a court of competent jurisdiction in a civil action or by the Commission to have violated any Federal or State securities law, and the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended, or vacated;





(6)
Such person was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated;





(7)
Such person was the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of:





i.
Any Federal or State securities or commodities law or regulation; or





ii.
Any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order; or





iii.
Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or





(8)
Such person was the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.





15


Audit Committee and Audit Committee Financial Expert





The Company does not have an audit committee or an audit committee financial expert (as defined in Item 407 of Regulation S-K) serving on its Board of Directors. All current members of the Board of Directors lack sufficient financial expertise for overseeing financial reporting responsibilities.  The Company has not yet employed an audit committee financial expert on its Board due to the inability to attract such a person.





The Company intends to establish an audit committee of the board of directors, which will consist of independent directors. The audit committee’s duties will be to recommend to the Company’s board of directors the engagement of an independent registered public accounting firm to audit the Company’s financial statements and to review the Company’s accounting and auditing principles.





The audit committee will review the scope, timing and fees for the annual audit and the results of audit examinations performed by the internal auditors and Independent Registered Public Accounting Firm, including their recommendations to improve the system of accounting and internal controls. The audit committee will at all times be composed exclusively of directors who are, in the opinion of the Company’s board of directors, free from any relationship which would interfere with the exercise of independent judgment as a committee member and who possess an understanding of financial statements and generally accepted accounting principles.





Code of Ethics





We have adopted a Code of Ethics (the “Code”) that applies to our directors, officers and employees, including our Chief Executive Officer and Chief Financial Officer.  A written copy of the Code is available on written request to the Company and is filed with the SEC on as part of the Company’s S-1 that is incorporated by reference hereto as Exhibit 14.01.





Section 16(a) Beneficial Ownership Reporting Compliance





Section 16(a) of the Securities Exchange Act of 1934 requires our directors, executive officers, and persons who beneficially own more than ten percent of a registered class of our equity securities to file with the SEC initial reports of ownership and reports of change in ownership of common stock and other equity securities of the Company. Officers, directors and greater than ten percent stockholders are required by SEC regulations to furnish us with copies of all Section 16(a) forms they file. Based solely upon a review of Forms 3 and 4 and amendments thereto furnished to us under Rule 16a-3(e) during the year ended January 31, 2016, Forms 5 and any amendments thereto furnished to us with respect to the year ended January 31, 2016, and the representations made by the reporting persons to us, we believe that during the year ended January 31, 2016, our executive officers and directors and all persons who own more than ten percent of a registered class of our equity securities complied with all Section 16(a) filing requirements.





ITEM 11.            EXECUTIVE COMPENSATION





The following table sets forth the compensation paid to our executive officers during the twelve month periods ended January 31, 2017 and 2016:


Name and Position
Fiscal year ended

3/31
Salary

($)
Bonus

($)
Stock

Awards

($)
Option

Awards

($)
Non-Equity

Incentive

Plan

Compensation

($)
Change in

Pension

Value and

Nonqualified

Deferred

Compensation

Earnings

($)
All Other Compensation

($)
Total

($)Wan Soo Lee(1)

President, Secretary, CEO, CFO, , and Director
2017
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-2016
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-Kook Chong Yoo) (2), Treasurer ,and Director
2017
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-2016
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-Laurence Stephenson(3)President, CEO,

Secretary, Treasurer and Director
2017
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-





1. Wan Soo Lee has been a director of our company since October 6, 2014 and was appointed President, Chief Executive officer, Chief Financial Officer, of our company on October 6, 2014, On March 15, 2017 Mr. Lee Resigned his positions as an officer of the Company and is still currently a director of the Company. Mr. Lee resigned his position as a director on May 4, 2017.





2. Kook Chong Yoo has been a director of our company since October 6, 2014, and was appointed as, Treasurer, of our company on October 6, 2014.Kook Chong Yoo resigned his position as an officer and director on March 15, 2017. Mr. Yoo resigned his position as an officer and director on March 15, 2017.





3. Laurence Stevenson was appointed to the board of directors on March 15, 2017 and subsequently resigned his positions as an officer and director on May 2, 2017.





Narrative Disclosure to Summary Compensation Table


16





There are no compensatory plans or arrangements, including payments to be received from the Company with respect to any executive officer, that would result in payments to such person because of his or her resignation, retirement or other termination of employment with the Company, or its subsidiaries, any change in control, or a change in the person’s responsibilities following a change in control of the Company.





Outstanding Equity Awards at Fiscal Year-End





No executive officer received any equity awards, or holds exercisable or exercisable options, as of the year ended January 31, 2017.





Long-Term Incentive Plans





There are no arrangements or plans in which we provide pension, retirement or similar benefits for directors or executive officers.





Compensation Committee





We currently do not have a compensation committee of the Board of Directors. The Board of Directors as a whole determines executive compensation.





Compensation of Directors





Our directors receive no compensation for their service on our Board of Directors.





ITEM 12.              SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.





Security Ownership





The following table sets forth certain information concerning the number of shares of our Common Stock owned beneficially as of January 31, 2016, by: (i) our directors; (ii) our named executive officer; and (iii) each person or group known by us to beneficially own more than 5% of our outstanding shares of common stock.  Unless otherwise indicated, the shareholders listed below possess sole voting and investment power with respect to the shares they own.





Name and Address of Beneficial Owner
Title of Class
Amount and Nature of Beneficial

Ownership(1)

(#)
Percent of Class(2)

(%)Wan Soo Lee
Common
3,000,000
35,755%Kook Chong Yoo
Common
3,000,000
35.755%All Persons as a Group (2 Persons)
Common
6,000,000
71.51%





1.
The number and percentage of shares beneficially owned is determined under rules of the SEC and the information is not necessarily indicative of beneficial ownership for any other purpose. Under such rules, beneficial ownership includes any shares as to which the individual has sole or shared voting power or investment power and also any shares which the individual has the right to acquire within 60 days through the exercise of any stock option or other right. The persons named in the table have sole voting and investment power with respect to all shares of common stock shown as beneficially owned by them, subject to community property laws where applicable and the information contained in the footnotes to this table.2.
Based on 8,390,000issued and outstanding shares of Common Stock as of January 31, 2017.





17





Changes in Control





There are no present arrangements or pledges of the Company’s securities which may result in a change in control of the Company.





ITEM 13.              CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.




Related Party Transactions





None of the directors or executive officers of the Company, nor any person who owned of record or was known to own beneficially more than 5% of the Company’s outstanding shares of its Common Stock, nor any associate or affiliate of such persons or companies, has any material interest, direct or indirect, in any transaction that has occurred during the past fiscal year, or in any proposed transaction, which has materially affected or will affect the Company.





With regard to any future related party transaction, we plan to fully disclose any and all related party transactions in the following manner:





·         Disclosing such transactions in reports where required;





·         Disclosing in any and all filings with the SEC, where required;





·         Obtaining disinterested directors consent; and





·         Obtaining shareholder consent where required.





Director Independence





For purposes of determining director independence, we have applied the definitions set out in NASDAQ Rule 5605(a)(2). The OTCBB on which shares of common stock are quoted does not have any director independence requirements. The NASDAQ definition of “Independent Officer” means a person other than an Executive Officer or employee of the Company or any other individual having a relationship which, in the opinion of the Company's Board of Directors, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director.





According to the NASDAQ definition, Jason Sakowski is not an independent director because he is also an executive officer of the Company.





Review, Approval or Ratification of Transactions with Related Persons





We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.








18


ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.




Year Ended

January 31, 2017


Year Ended

January 31, 2016Audit fees

$
9,700


$
9,500Audit-related fees

$
0


$
0Tax fees

$
0


$
0All other fees

$
0


$
0Total

$
9,700


$
9,500





Audit Fees





During the fiscal years ended January 31, 2017 and 2016, we incurred approximately $9,700 and 9,500 respectively in fees to our principal independent accountants for professional services rendered in connection with the audit and reviews of our financial statements for fiscal year ended January 31, 2017.





Audit-Related Fees





The aggregate fees billed during the fiscal years ended January 31, 2017 and 2016 for assurance and related services by our principal independent accountants that are reasonably related to the performance of the audit or review of our financial statements (and are not reported under Item 9(e)(1) of Schedule 14A) was $9,700and $9,500, respectively.





Tax Fees





The aggregate fees billed during the fiscal years ended January 31, 2017 and 2016 for professional services rendered by our principal accountant tax compliance, tax advice and tax planning were $0 and $0, respectively.





All Other Fees





The aggregate fees billed during the fiscal year ended January 31, 2017, and 2016 for products and services provided by our principal independent accountants (other than the services reported in Items 9(e)(1) through 9(e)(3) of Schedule 14A was $0.





19


PART IV


ITEM 15.             EXHIBITS.





(a)
Exhibits








Exhibit Number
Description of Exhibit
Filing3.01
Articles of Incorporation
Filed with the SEC on April 21, 2015, as part of our Registration Statement on Form S-1.3.02
Bylaws
Filed with the SEC on April 21, 2015as part of our Registration Statement on Form S-1.14.01
Code of Ethics
Filed with the SEC on April 21, 2015as part of our Registration Statement on Form S-1.31.1
Certification of Principal Executive Officer Pursuant to Rule 13a-14
Filed herewith.31.2
Certification of Principal Financial Officer Pursuant to Rule 13a-14
Filed herewith.32.1
CEO and CFO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act
Filed herewith.








[Signature Page to Follow]








20





SIGNATURES





Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Company caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.





PACIFICORP HOLDINGS, LTD.








Dated: May 12 , 2017





/s/ Jason Sakowski


By:  Jason Sakowski


Its: President, Principal Executive Officer













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