United States
SECURITIES AND EXCHANGE COMMISSION

Washington,
D.C. 20549



FORM 10-K



ANNUAL REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934



For the fiscal
year ended December 31, 2019



Commission
file number 0-49701



PACIFIC VEGAS
GLOBAL STRATEGIES, INC.

(Exact name of
registrant as specified in its charter)



|COLORADO                                           |  | 84-1159783                           
|-------------------------------------------------- |  | -------------------------------------
|(State
    or Other Jurisdiction of Incorporation) |  | (IRS
    Employer Identification No.)



Room 2, LG/F.,
Kai Wong Commercial Building
222 Queen’s Road, Central, Hong Kong

(Address of principal
executive offices)



(852) 3154-9370

(Registrant’s
telephone number, including area code)





Securities
registered pursuant to Section 12(b) of the Act:





|Title of each class:                   |  | Trading Symbol(s) |  | Name of each exchange on    which registered:
|-------------------------------------- |  | ----------------- |  | ---------------------------------------------
|Common stock, no par   value per share |  | PVEG              |  | OTC Pink                                     





Securities registered
pursuant to Section 12(g) of the Act:
None



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 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.

YESx        NO   ̈



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 x



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.

YESx      NO  ̈



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. (Check one):



|Large
accelerated filer |  ̈ |  | Accelerated
                                         filer         |  ̈
|----------------------- | - |  | ------------------------------------------------------------------ | -
|Non-accelerated
filer   |  ̈ |  | Smaller
                                         reporting company | x



If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ̈



Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

YESx       NO   ̈



State
the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price
at which the common equity was last sold, or the average of the bid and asked price of such common equity, as of the last business
day of the registrant’s most recently completed second fiscal quarter: US$103,970.



NOTE:
The aggregate market value was computed by multiplying the number of outstanding shares of the registrant’s common stock,
excluding those shares of record held by officers, directors and greater than five percent stockholders, by US$0.0031 per
share.



Indicate
the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date:
99,963,615 shares of Common Stock with No Par Value, outstanding as at March 30, 2020.



Documents incorporated
by reference:   NONE.




















TABLE OF CONTENTS



|Item
    1.  | Business                                                                                                         | 3 
|------------ | ---------------------------------------------------------------------------------------------------------------- | --
|Item
    1A. | Risk
    Factors                                                                                                 | 5 
|Item
    1B. | Unresolved
    Staff Comments                                                                                    | 5 
|Item
    2.  | Properties                                                                                                       | 5 
|Item
    3.  | Legal
    Proceedings                                                                                            | 6 
|Item
    4.  | Mine
    Safety Disclosures                                                                                      | 6 
|Item
    5.  | Market
    for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 6 
|Item
    6.  | Selected
    Financial Data                                                                                      | 7 
|Item
    7.  | Management’s
    Discussion and Analysis of Financial Condition and Results of Operations                        | 7 
|Item
    7A. | Quantitative
    and Qualitative Disclosures About Market Risk                                                   | 9 
|Item
    8.  | Financial
    Statements and Supplementary Data                                                                  | 9 
|Item
    9.  | Changes
    in and Disagreements With Accountants on Accounting and Financial Disclosure                         | 19
|Item
    9A. | Controls
    and Procedures                                                                                      | 19
|Item
    9B. | Other
    Information                                                                                            | 19
|Item
    10. | Directors,
    Executive Officers and Corporate Governance                                                       | 20
|Item
    11. | Executive
    Compensation                                                                                       | 21
|Item
    12. | Security
    Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters               | 22
|Item
    13. | Certain
    Relationships and Related Party Transactions and Director Independence                               | 22
|Item
    14. | Principal
    Accountant Fees and Services                                                                       | 22
|Item
    15. | Exhibits                                                                                                         | 23





2







PART   I



|ITEM 1. | BUSINESS
|------- | --------



|1.1 | INTRODUCTION
|--- | ------------



All statements
other than statements of historical fact presented in this annual report regarding our financial position and operating and strategic
initiatives and addressing industry developments are forward-looking statements, where we or our management express(es) an expectation
or belief as to future results. Such expectation or belief is expressed in good faith and believed to have a reasonable basis,
but there can be no assurance that the statements of such expectation or belief will result or be achieved or accomplished. Actual
results of operations may differ materially.



Our principal
executive office is located at Room 2, LG/F., Kai Wong Commercial Building, 222 Queen’s Road, Central, Hong Kong, telephone
(852) 3154-9370.



|1.2 | THE CORPORATION AND ACQUISITION OF CTGH
|--- | ---------------------------------------



Pacific
Vegas Global Strategies, Inc. (the “Company” or “PVGS”), formerly known as Goaltimer International, Inc.,
was incorporated in Colorado on December 19, 1990. Prior to the acquisition of Cyber Technology Group Holdings Ltd. (“CTGH”),
the Company entered into and operated a business of development and sales of time and personal management products. The Company
had discontinued such business and became a non-operating public shell since 1994, and remained as a shell company with its only
activities of accruing loan interest on notes payable and looking for a merger candidate.



On
November 20, 2002, the Company entered into an agreement for share exchange with CTGH under the laws of Colorado. Pursuant
to the share exchange agreement, and subject to its stockholders’ approval, the Company was to acquire 100% of the issued
and outstanding equity shares of CTGH, in exchange for 60,000,000 new shares of common stock of the Company. This transaction was
approved by the stockholders of the Company at the special meeting of stockholders held on December 12, 2002.



The
closing of the transaction was scheduled to take place on December 22, 2002. However, the transaction was delayed and eventually
closed on January 8, 2003, upon which control of the Company passed to the stockholders of CTGH, and CTGH became a wholly
owned subsidiary of the Company.



CTGH
was incorporated in the British Virgin Islands in June 2000, operated as an investment holding company, holding 100% of the
capital stock of Pacific Vegas Development Ltd. (“PVD”).



PVD
was incorporated in Samoa in April 2000, operated as an IT company, engaged in a business of system development and technical
supporting services for e-business, especially e-gaming related business, whilst holding 100% of the equity shares of Pacific Vegas
International Ltd. (“PVI”).



PVI
was incorporated in the Commonwealth of Dominica in April 2000, established and operated as an international gaming company,
conducting an offshore business of international sportsbook by way of telecommunications and the Internet, under an International
Gaming License granted by the government of the Commonwealth of Dominica.



As
the Company was a non-operating public shell before its acquisition of CTGH, the nature of this acquisition was defined and treated
as a capital transaction or recapitalization in substance, rather than a business combination. The acquisition did not result in
any purchase accounting adjustments or creation of goodwill.





3







|1.3 | BUSINESS OPERATIONS
|--- | -------------------



Upon
completion of the reorganization with CTGH in January 2003, CTGH became the operating entity of the Company to conduct business
operations. The Company adopted CTGH’s business of international sportsbook as its principal business and operated such business,
through CTGH and its subsidiaries, from the Commonwealth of Dominica by way of telecommunications and the Internet, under an International
Gaming License granted by the government of the Commonwealth of Dominica, until December 6, 2004, when the Board of Directors
of the Company resolved to cease the operations of such business due to the significant financial losses that resulted from such
business.



Revenue
from operations of sportsbook business was the only revenue source for the Company during the last twelve years. The Company recorded
a total revenue of US$1.70 million for the fiscal year 2003, and a total revenue of US$0.03 million for the fiscal year 2004. No
revenue was recorded for the fiscal years 2005 through 2016 since the operations of sportsbook business were ceased and then discontinued.



The
operations of sportsbook business resulted in significant financial losses for the Company, particularly for the fiscal year 2004.
The Company incurred a net loss of US$0.39 million for the fiscal year 2003, and a net loss of US$2.35 million for the fiscal year
2004.



Our
annual report on Form 10-KSB for the fiscal year ended December 31, 2004 presented a detailed analysis of the factors
that caused the adverse results of our operations of the sportsbook business.



There
was no business other than the aforementioned sportsbook business operated by the Company since 2003.



|1.4 | DISPOSITION OF CTGH
|--- | -------------------



In light
of the significant financial losses that resulted from the sportsbook business and the factors that caused such adverse results
of operations, effective as of December 6, 2004, the Board of Directors of the Company resolved to cease the operations of
sportsbook business, as an immediate remedial action to prevent further losses.



Having
reviewed the financial position and re-evaluated the business structure of the Company, the Board of Directors further decided
to terminate the sportsbook business and dispose of CTGH. On July 8, 2005, the Company entered into a Stock Purchase Agreement
(the “Agreement”) with an independent third party (the “Buyer”), pursuant to which, and subject to its
stockholders’ approval, the Company was to sell its entire 100% equity interest in CTGH through disposition of all equity
shares of CTGH for a consideration of US$125,000 in cash together with a non-cash settlement that the Buyer was to assume and pay
all liabilities of CTGH as shown in the consolidated balance sheet of CTGH as at June 30, 2005 and to cancel and release the
Company from its liabilities due to CTGH in the amount of US$549,288 or such other amount not exceeding US$549,288 as may be
amended at the closing of the transaction. This Agreement was approved by our stockholders at the special meeting of stockholders
held on October 14, 2005, and the transaction was subsequently executed and closed on November 18, 2005.



Details
of this transaction were disclosed in the Company’s earlier reports on Form 8-K, Form 10-QSB and definitive proxy
statement on Schedule 14A filed with the SEC dated July 11, August 15, August 26, and November 18, 2005,
respectively.



In
accordance with ASC Topic 360-10-40 “Accounting for the Impairment or Disposal of Long-Lived Assets”, the Company reported
CTGH as a discontinued operation in 2005, and the audited financial results for the fiscal year 2004 had been restated and presented
in the consolidated financial statements on the same basis accordingly.



|1.5 | CURRENT STATUS
|--- | --------------



The
Company has been in an inactive or non-operating status since December 6, 2004, and currently remains as a shell company with
its only activities of incurring non-operating expenses.





4







|1.6 | EMPLOYEES
|--- | ---------



Effective
from March 2007 and until December 31, 2019, the Company had one (1) full time employee, with no compensation, in the capacities
as chief executive officer and chief financial officer.



|1.7 | ADDITIONAL INFORMATION
|--- | ----------------------



|1.7.1 | Compliance with Environmental Laws
|----- | ----------------------------------



Compliance
with federal, state and local provisions which have been enacted regarding the discharge of materials into the environment or otherwise
relating to the protection of the environment has not had, and is not expected to have, any adverse effect upon operations, capital
expenditures, earnings or competitive position of the Company. The Company is not presently a party to any litigation or administrative
proceedings, whether federal, state or local, with respect to its compliance with such environmental standards. The Company does
not anticipate being required to expend any significant capital funds in the near future for environmental protection in connection
with its operations.



|1.7.2 | Other Information
|----- | -----------------



There
was no expense incurred by the Company on any research and development activities in the last three fiscal years.



As
at December 31, 2019, there were no patents, trademarks, licenses, franchises, concessions, and/or royalty agreements owned
or possessed by the Company.



|1.7.3 | Reports and Availability of Information
|----- | ---------------------------------------



The
Company files its annual reports, quarterly reports, current reports, proxy statements, and other reports required to be filed
with the SEC under the Exchange Act.



The
Company has been reporting as a Development Stage Entity under FASB Accounting Standard Codification Topic 915 – Development
Stage Entities since January 1, 2006.



The Company is
not required to deliver an annual report to our stockholders. Our stockholders and the public may obtain any reports and other
information materials that the Company filed with the SEC by visiting the SEC’s website at http://www.sec.gov or SEC’s
Public Reference Room at 100 F Street, N.E, Washington, D.C. 20549, or by calling the SEC at 1-800-SEC-0330.



|ITEM 1A. | RISK FACTORS
|-------- | ------------



Not applicable.



|ITEM 1B. | UNRESOLVED STAFF COMMENTS
|-------- | -------------------------



Not applicable.



|ITEM 2. | PROPERTIES
|------- | ----------



|2.1 | OPERATING LEASE
|--- | ---------------



Currently
the Company maintains its principal office in Hong Kong, which has been provided by our principal stockholder, with no rental charges
to the Company. However, the principal stockholder retains her right to discontinue this arrangement at her own discretion, and
there can be no assurance that this arrangement by the principal stockholder will not be discontinued at any time.



|2.2 | INVESTMENT POLICIES
|--- | -------------------



The
Company does not invest in, and has not adopted any policy with respect to investments in, real estate or interests in real estate,
real estate mortgages or securities of or interests in persons primarily engaged in real estate activities. It is not the Company’s
policy to acquire assets primarily for possible capital gain or primarily for income.





5









|ITEM 3. | LEGAL PROCEEDINGS
|------- | -----------------



No material
legal proceedings to which the Company is a party or to which any of its property is the subject are pending and, to our knowledge,
no such proceedings are contemplated.



The
Company is not presently a party to any litigation or administrative proceedings with respect to our compliance with federal, state
and local provisions which have been enacted regarding the discharge of materials into the environment or otherwise relating to
the protection of the environment and, to our knowledge, no such proceedings are contemplated.



There
has been no material legal proceeding to which any of our officers, directors or stockholders of greater than five percent of our
outstanding common shares is a party adverse to the Company or has a material interest adverse to the Company.



No material
proceedings or legal actions are pending or contemplated nor judgments entered against any of our officers, directors or stockholders
of greater than five percent of our outstanding common shares concerning any matter involving our business.



|ITEM 4. | MINE SAFETY DISCLOSURES
|------- | -----------------------



Not
applicable.



PART  
II



|ITEM
5. | MARKET
FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
|------- | ------------------------------------------------------------------------------------------------------------



|5.1 | OUTSTANDING SHARES AND STOCKHOLDERS
|--- | -----------------------------------



As at
December 31, 2019, there were 99,963,615 shares of PVGS common stock with no par value issued and outstanding, and there were approximately
1,150 beneficial holders of PVGS common stock.



|5.2 | MARKET FOR PVGS COMMON STOCK
|--- | ----------------------------



Our
common stock was traded publicly on the OTC Bulletin Board under the symbol “PVEG.OB” from January 8, 2003 until
September 26, 2003, at which time it was moved from the OTC Bulletin Board to the OTC Non-Bulletin Board for failure to comply
with certain reporting requirements (NASD Rule 6530). Our common stock has been since then traded on the Pink Sheets under
the symbol “PVEG.PK”.



The
nature of the market for common stocks trading on the Pink Sheets is generally limited, sporadic and highly volatile, and the absence
of an active market may have an effect upon the high and low prices as reported. The following information sets forth the
high and low last sale prices per share of our common stock for the periods indicated as reported by the Pink Sheets:



|QUARTER ENDED      |  | HIGH |        | LOW |    
|------------------ |  | ---- | ------ | --- | ---
|March 29, 2019     |  | US$  | 0.0100 |     | US$
|June 28, 2019      |  | US$  | 0.0031 |     | US$
|September 30, 2019 |  | US$  | 0.0045 |     | US$
|December 31, 2019  |  | US$  | 0.004  |     | US$
|                   |  |      |        |     |    
|March 29, 2018     |  | US$  | 0.007  |     | US$
|June 29, 2018      |  | US$  | 0.0063 |     | US$
|September 28, 2018 |  | US$  | 0.005  |     | US$
|December 31, 2018  |  | US$  | 0.004  |     | US$



The
quotations listed in this table reflect inter-dealer prices, without retail mark-ups, mark-downs, or commissions, and may not
necessarily represent actual transactions.





6







|5.3 | RELATED MATTERS
|--- | ---------------



The
Company has not declared or paid any dividends since its reorganization with CTGH in January 2003.



The
Company did not sell any equity securities that were not registered under the Securities Act of 1933, as amended, and did not repurchase
any of our equity securities, in the last three fiscal years.



There
were no previously authorized equity compensation plans carried forward upon the Company’s reorganization in January 2003,
and there have been no equity compensation plans adopted and no equity securities issued for any equity compensation plans since
the Company’s reorganization in January 2003. As at December 31, 2019, there were no outstanding equity compensation
plans, options or warrants to be exercised and no equity securities to be issued for such purposes.



|ITEM 6. | SELECTED FINANCIAL DATA
|------- | -----------------------



Not
applicable.



|ITEM
                            7. | MANAGEMENT’SDISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|----------------------------------- | ------------------------------------------------------------------------------------



Our
presentation in this Management’s Discussion and Analysis of Financial Condition and Results of Operations contains a number
of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on management’s current projections
or expectations with regard to the future operations of business. Such projections or expectations are expressed in good faith
and believed to have a reasonable basis, but there can be no assurance that such projections or expectations will prove to be correct
or accurate, and as a result of certain risks and uncertainties, actual results of operations may differ materially.



|7.1 | CRITICAL ACCOUNTING POLICIES AND ESTIMATES
|--- | ------------------------------------------



The
preparation of our financial statements in conformity with accounting principles generally accepted in the United States requires
our management to make estimates and assumptions that affect the amounts reported in our financial statements and accompanying
notes. Actual results could differ materially from those estimates.



Our audited financial
statements and the notes thereto contain more details of critical accounting policies and other disclosures required by generally
accepted accounting principles.



|7.2 | RESULTS OF OPERATIONS
|--- | ---------------------



|7.2.1 | Revenue and Expenses
|----- | --------------------



As
described in Item 1 hereof, the Company has remained in an inactive or non-operating status since December 6, 2004. There
was no active business operated and no revenue earned by the Company for the fiscal years ended December 31, 2019 and 2018.



Total
expenses for the fiscal year ended December 31, 2019 were US$65,502 against US$61,124 a year before. Expenses were for professional
fees and miscellaneous administrative expenses in the two fiscal years.



|7.2.2 | Net Loss
|----- | --------



Net
loss for the fiscal year ended December 31, 2019 was US$65,502 against a net loss of US$61,124 a year before.





7







|7.2.3 | Liquidity and Capital Resources
|----- | -------------------------------



As at
December 31, 2019, the balance of cash for the Company was nil. The Company has currently retained no sources of liquidity
other than the private financing by cash in-flow from the principal stockholder, which is unsecured and could be discontinued at
any time.



|7.3 | OFF-BALANCE SHEET ARRANGEMENTS
|--- | ------------------------------



There
were no off-balance sheet arrangements as defined in Item 303(c) of Regulation S-K, as at the end of the fiscal year 2019
and any interim periods in the current fiscal year.



|7.4 | PLAN OF OPERATION
|--- | -----------------



All
statements presented in this section regarding our financial position and operating and strategic initiatives are forward-looking
statements, where we or our management express(es) an expectation or belief as to future results. Such expectation or belief is
expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the statement of expectation
or belief will result or be achieved or accomplished. Factors which could cause actual results to differ materially from those
anticipated include, but not limited to, general economic and business conditions, competition and development in the industries,
the business abilities and judgment of personnel, the impacts of unusual events resulting from ongoing evaluations of business
strategies, and changes in business strategies.



The
Company has been in an inactive or non-operating status since December 6, 2004, and currently remains as a shell company with
its only activities of accruing minimal non-operating expenses. It is expected that the Company will remain in such status until
a re-organization with a selected entity takes place.



As a part of
our plan, we expect our next move to be a re-organization with a selected entity, for the Company to acquire sufficient capital
funds and engage into a selected business. However, there can be no assurance as to when or whether the Company will be able to
accomplish this plan.



|7.5 | ADDITIONAL CAUTIONARY STATEMENTS AND RISK FACTORS
|--- | -------------------------------------------------



|7.5.1 | Going Concern
|----- | -------------



The financial
statements presented in this annual report have been prepared in conformity with generally accepted accounting principles in the
United States of America, which contemplate continuation of the Company as a going concern. However, substantial doubt has been
raised with regard to the ability of the Company to continue as a going concern, in light of that as at December 31, 2019,
the Company had minimal assets of US$12,500, none of which were cash or cash equivalents to support its needs of cash payments
for any current expenses which may be required for its continuation as a going concern.



The Company has
maintained no revenue-generating or cash in-flow operations since December 6, 2004 and has relied on the private financing
by cash in-flow from the principal stockholder of the Company. The principal stockholder has undertaken to finance the Company
in cash for a “reasonable” period of time for the Company to continue as a going concern, assuming that in such a period
of time the Company would be able to restructure its business and restart on a revenue-generating operation and/or raise additional
capital funds to support its continuation. However, it is uncertain as for how long or to what extent such a period of time would
be “reasonable”, and there can be no assurance that the financing from the principal stockholder will not be discontinued.



Other than the
private financing by cash in-flow from the principal stockholder, which is unsecured and could be discontinued at any time, the
Company has currently preserved no sources of liquidity to support its continuation as a going concern.



These
uncertainties may result in adverse effects on continuation of the Company as a going concern. The accompanying financial
statements do not include or reflect any adjustments that might result from the outcome of these uncertainties.





8







|7.5.2 | Limited Market
|----- | --------------



The
market for our stock is limited. Our common stock is currently traded on the Pink Sheets under the symbol “PVEG.PK”.
On January 30, 2020, the last reported sale price of our common stock on the Pink Sheets was US$0.006 per share. However,
we consider our common stock to be “thinly traded” and any last reported sale prices may not be a true market-based
valuation of the common stock.



Our common stock
is considered to be a “penny stock” and, as such, the market for our common stock may be further limited by certain
SEC rules applicable to penny stocks.



As
long as the price of our common stock remains below US$5.00 per share or we have net tangible assets of US$2,000,000 or less, our
common shares are likely to be subject to certain “penny stock” rules promulgated by the SEC. Those rules impose
certain sales practice requirements on brokers who sell penny stocks to persons other than established customers and accredited
investors (generally, institutions with assets in excess of US$5,000,000 or individuals with a net worth in excess of US$1,000,000).
For transactions covered by the penny stock rules, the broker must make a special suitability determination for the purchaser and
receive the purchaser’s written consent to the transaction prior to the sale. Furthermore, the penny stock rules generally
require, among other things, that brokers engaged in secondary trading of penny stocks provide customers with written disclosure
documents, monthly statements of the market value of penny stocks, disclosure of the bid and asked prices and disclosure of the
compensation to the brokerage firm and disclosure of the sales person working for the brokerage firm. These rules and regulations
adversely affect the ability of brokers to sell our common shares and limit the liquidity of our securities.



|7.5.3 | Tax matters
|----- | -----------



NoU.S. Federal tax returns and information forms had been filed for numerous years. The Company, however, has completed its
delinquent filings current through the Delinquent International Information Return Submission Procedures (“DIIRSP”)
in 2019. Since the Company incurred losses for most of the years, we do not foresee significant tax liabilities arising from the
DIIRSP.



|7.5.4 | Due to stockholder
|----- | ------------------



There were no
related party transactions other than the private financing by loans to us from our principal stockholder, who is also the sole
director of the Company, during the last two fiscal years ended December 31, 2019 and 2018. All private loans from the principal
stockholder to the Company were unsecured, interest free and not subject to fixed term of repayment.



|ITEM 7A. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK.
|-------- | -----------------------------------------------------------



Not applicable.



|ITEM 8. | FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
|------- | -------------------------------------------



Table of Contents



|Report of Independent Registered Public Accounting Firm | 
|------------------------------------------------------- | 
|                                                        | 
|Financial Statements:                                   | 
|                                                        | 
|Statements of Operations and Comprehensive Loss         | 
|                                                        | 
|Balance Sheets                                          | 
|                                                        | 
|Statement of Changes in Stockholders’
Deficit           | 
|                                                        | 
|Statements ofCash Flows                                 | 

|                              | 
|----------------------------- | 
|Notes to Financial Statements | 





9









Report of Independent Registered
Public Accounting Firm



To
theShareholders and the Sole Director of

Pacific Vegas Global Strategies,
Inc.

(incorporated in Colorado
with limited liability)



Opinion on the Financial Statements



We
have audited the accompanying balance sheets of Pacific Vegas Global Strategies, Inc. (the “Company”) as of
December 31, 2019 and 2018, and the related statements of operations and comprehensive loss, changes in stockholders’ deficit
and cash flows for each of the two years in the period ended December 31, 2019, and the related notes (collectively referred to
as the “financial statements”). In our opinion, the financial statements referred to above present fairly, in all material
respects, the financial positions of Pacific Vegas Global Strategies, Inc. as of December 31, 2019 and 2018, and the results of
its operations and its cash flows for each of the two years in the period ended December 31, 2019, in conformity with accounting
principles generally accepted in the United States of America.



Material Uncertainty related to Going
Concern



The
accompanying financial statements have been prepared assuming the Company will continue as a going concern. As discussed in note
2(b) to the financial statements, the Company has suffered recurring losses from operations of US$65,502 and has a net capital
deficit US$768,951, that raise substantial doubt about its ability to continue as a going concern. Management’s plans
in regards to these matters are also described in note 2(b) including, but not limited to, continued financial support by the principal
stockholder, which can be discontinued at her own discretion. The financial statements do not include any adjustments that might
result from the outcome of this uncertainty.



Basis for Opinion



These
financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the
Company’s financial statements based on our audits. We are a public accounting firm registered with thePublic Company
Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company
in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission
and the PCAOB.



We conducted our audits in accordance with
the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether
the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have,
nor were we engaged to perform, an audits of its internal control over financial reporting. As part of our audits, we are required
to obtain an understanding of internal control over financial reporting 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 included performing procedures
to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made
by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a
reasonable basis for our opinion.



|/s/ MOORE STEPHENS CPA LIMITED | 
|------------------------------ | 



Moore Stephens CPA Limited



Certified Public Accountants



We have served as the Company’s auditor
since 2017.



Hong Kong



March 30, 2020





10







Pacific
Vegas Global Strategies, Inc.



Statements
of Operations and Comprehensive Loss



|                                                        |  |      |   |  | Year
    ended December 31, | 
|------------------------------------------------------- |  | ---- | - |  | --------------------------- | 
|                                                        |  | Note |   |  | 2019                        | 
|                                                        |  |      |   |  | US$                         | 
|Revenue                                                 |  |      |   |  |                             | 
|                                                        |  |      |   |  |                             | 
|Expenses                                                |  |      |   |  |                             | 
|General
    and administrative expenses                 |  |      |   |  |                             | 
|                                                        |  |      |   |  |                             | 
|Loss before income
    tax                              |  |      |   |  |                             | 
|                                                        |  |      |   |  |                             | 
|Income
    tax expense                                  |  |      | 4 |  |                             | 
|                                                        |  |      |   |  |                             | 
|Net
    loss and total comprehensive loss               |  |      |   |  |                             | 
|                                                        |  |      |   |  |                             | 
|Loss per share of common stock:                         |  |      |   |  |                             | 
|Basic
    and diluted                                   |  |      | 5 |  |                             | 
|                                                        |  |      |   |  |                             | 
|Weighted average
    number of common stock outstanding |  |      |   |  |                             | 



The accompanying notes are an integral part of these financial
statements.





11









Pacific Vegas Global Strategies, Inc.



Balance Sheets



|                                                                                  |  |      |  | As of December 31, |           
|--------------------------------------------------------------------------------- |  | ---- |  | ------------------ | ----------
|                                                                                  |  | Note |  | 2019               |           
|                                                                                  |  |      |  | US$                |           
|Assets                                                                            |  |      |  |                    |           
|Current assets                                                                    |  |      |  |                    |           
|Deposits and prepayments                                                          |  | 3    |  |                    | 12,500    
|                                                                                  |  |      |  |                    |           
|Total current assets                                                              |  |      |  |                    | 12,500    
|                                                                                  |  |      |  |                    |           
|Total assets                                                                      |  |      |  |                    | 12,500    
|                                                                                  |  |      |  |                    |           
|Liabilities and stockholders’ deficit                                             |  |      |  |                    |           
|Current liabilities                                                               |  |      |  |                    |           
|Due to a stockholder                                                              |  | 6    |  |                    | 763,611   
|Accrued expenses                                                                  |  |      |  |                    | 17,840    
|                                                                                  |  |      |  |                    |           
|Total current liabilities                                                         |  |      |  |                    | 781,451   
|                                                                                  |  |      |  |                    |           
|Total liabilities                                                                 |  |      |  |                    | 781,451   
|                                                                                  |  |      |  |                    |           
|Commitments and contingencies                                                     |  | 7    |  |                    | -         
|                                                                                  |  |      |  |                    |           
|Stockholders’ deficit                                                             |  |      |  |                    |           
|Common stock,                                                                     |  |      |  |                    |           
|Authorized:                                                                       |  |      |  |                    |           
|No par value, 500,000,000 shares of common stock as of December 31, 2019 and 2018 |  |      |  |                    |           
|Issued and outstanding:                                                           |  |      |  |                    |           
|No par value, 99,963,615 shares of common stock as of December 31, 2019 and 2018  |  |      |  |                    | -         
|Additional paid-in capital                                                        |  |      |  |                    | 2,500,000 
|Accumulated deficit                                                               |  |      |  |                    | (3,268,951
|                                                                                  |  |      |  |                    |           
|Total stockholders’ deficit                                                       |  |      |  |                    | (768,951  
|                                                                                  |  |      |  |                    |           
|Total liabilities and stockholders’ deficit                                       |  |      |  |                    | 12,500    



The accompanying notes are an integral part of these financial
statements.





12







Pacific Vegas Global Strategies,
Inc.



Statements
of Changes in Stockholders’ Deficit



|                        |  | Common stock      |            |  | Additional |  |   |                 |  |  |                     | 
|----------------------- |  | ----------------- | ---------- |  | ---------- |  | - | --------------- |  |  | ------------------- | 
|                        |  | Number of  shares |            |  | Amount     |  |   | paid-in capital |  |  | Accumulated deficit | 
|                        |  |                   |            |  | US$        |  |   | US$             |  |  | US$                 | 
|As of January 1, 2018   |  |                   | 99,963,615 |  |            |  | - |                 |  |  | 2,500,000           | 
|                        |  |                   |            |  |            |  |   |                 |  |  |                     | 
|Net loss                |  |                   | -          |  |            |  | - |                 |  |  | -                   | 
|                        |  |                   |            |  |            |  |   |                 |  |  |                     | 
|As of December 31, 2018 |  |                   | 99,963,615 |  |            |  | - |                 |  |  | 2,500,000           | 
|                        |  |                   |            |  |            |  |   |                 |  |  |                     | 
|Net loss                |  |                   | -          |  |            |  | - |                 |  |  | -                   | 
|                        |  |                   |            |  |            |  |   |                 |  |  |                     | 
|As of December 31, 2019 |  |                   | 99,963,615 |  |            |  | - |                 |  |  | 2,500,000           | 



The accompanying notes are an integral part of these financial
statements.





13









Pacific Vegas Global Strategies,
Inc.



Statements
of Cash Flows



|                                                                           |  | Year ended December 31, |        
|-------------------------------------------------------------------------- |  | ----------------------- | -------
|                                                                           |  | 2019                    |        
|                                                                           |  | US$                     |        
|Cash flows used in operating activities                                    |  |                         |        
|Net loss                                                                   |  |                         | (65,502
|Adjustment to reconcile net loss to net cash used in operating activities: |  |                         |        
|Changes in working capital:                                                |  |                         |        
|Deposits and prepayments                                                   |  |                         | (2,500 
|Accrued expenses                                                           |  |                         | 1,240  
|                                                                           |  |                         |        
|Net cash used in operating activities                                      |  |                         | (66,762
|                                                                           |  |                         |        
|Cash flows from financing activities                                       |  |                         |        
|Advances from a stockholder                                                |  |                         | 66,762 
|                                                                           |  |                         |        
|Net cash from financing activities                                         |  |                         | 66,762 
|                                                                           |  |                         |        
|Net change in cash and cash equivalents                                    |  |                         | -      
|Cash and cash equivalents at beginning of year                             |  |                         | -      
|                                                                           |  |                         |        
|Cash and cash equivalents at end of year                                   |  |                         | -      
|                                                                           |  |                         |        
|Supplemental Disclosure                                                    |  |                         |        
|Interest paid                                                              |  |                         | -      
|Taxes paid                                                                 |  |                         | -      



The accompanying notes are an integral part of these financial
statements.





14









Pacific Vegas Global Strategies,
Inc.



Notes
to the Financial Statements



| | 1. | ORGANIZATION AND PRINCIPAL ACTIVITIES
| | -- | -------------------------------------



Pacific Vegas
Global Strategies, Inc. (the “Company” or “PVGS”), formerly known as Goaltimer International, Inc., was
incorporated in Colorado on December 19, 1990.



Upon the expiry
of an International Gaming License granted by the government of the Commonwealth of Dominica on December 6, 2004, the Board of
Directors of the Company resolved to cease the then business due to significant losses incurred. After the full discontinuance
of such business in 2005, the Company became a shell company since January 1, 2006.



The Company has been in an inactive
or non-operating status since December 6, 2004, and remained as a shell company with its only activities of incurring non-operating
expenses.



| | 2. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
| | -- | ------------------------------------------



| | (a) | Basis of accounting
| | --- | -------------------



These financial
statements are presented in United States dollars (“US$” or “US dollars”) and have been prepared in accordance
with accounting principles generally accepted in the United States of America (“U.S. GAAP”).



| | (b) | Preparation of financial statements
| | --- | -----------------------------------



The Company
had a negative working capital and a stockholders’ deficit of US$768,951 as of December 31, 2019. The accompanying financial
statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the
Company as a going concern. However, a substantial doubt has been raised with regard to the ability of the Company to continue
as a going concern as the Company had total liabilities in excess of its total assets and maintained no revenue-generating operations
since December 6, 2004. In light of the situation, the Company has been contemplating practical plans for a business restructuring
and/or possible arrangements to raise additional capital funds to support its continuation as a going concern, but there can be
no assurance that the Company will be successful in procuring any of such efforts.



The principal stockholder, who
is also the sole director of the Company, has undertaken to finance the Company for a “reasonable” period of time for
the Company to continue as a going concern, assuming that in such period of time the Company would be able to restructure its business
and restart a revenue-generating operation and/or raise additional capital funds to support its continuation as a going concern.
However, the principal stockholder of the Company retains the right to discontinue such financing at her own discretion in case
the Company is unable to accomplish so in such period of time. It is uncertain as for how long or to what extent such period of
time would be “reasonable” to the discretion of the principal stockholder, and there can be no assurance that the financing
from the principal stockholder will not be discontinued at any time.



These uncertainties may result
in adverse effects on continuation of the Company as a going concern. The accompanying financial statements do not reflect any
adjustments that might result from the outcome of these uncertainties.





15







Pacific Vegas Global Strategies,
Inc.



Notes
to the Financial Statements



| | 2. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
| | -- | ------------------------------------------------------



| | (c) | Income taxes
| | --- | ------------



The Company
recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the
consolidated financial statements or tax returns. Deferred tax liabilities and assets are determined based on the difference between
the financial statement bases and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the
differences are expected to reverse. The Company estimates the degree to which tax assets and credit carryforwards will result
in a benefit based on expected profitability by tax jurisdiction. A valuation allowance for such tax assets and loss carryforwards
is provided when it is determined to be more likely than not that the benefit of such deferred tax asset will not be realized in
future periods. Tax benefits of operating loss carryforwards are evaluated on an ongoing basis, including a review of historical
and projected future operating results, the eligible carryforward period, and other circumstances. If it becomes more likely than
not that a tax asset will be used, the related valuation allowance on such assets would be reduced.



The Company
recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax position will be sustained
on examination by the taxing authorities, based on the technical merits of the position. Once this threshold has been met, the
Company's measurement of its expected tax benefits is recognized in its financial statements. The Company accrues interest on unrecognized
tax benefits as a component of income tax expense. Penalties, if incurred, would be recognized as a component of income tax expense.



At
December 31, 2019 and 2018, the Company had not incurred liability for the payment of tax related interest and there was
no tax interest or penalties recognized in the statements of operations.



| | (d) | Foreign currency translation
| | --- | ----------------------------



Foreign currency
transactions during the year are translated into US dollars at approximately the market exchange rates existing at the transaction
dates. Monetary assets and liabilities denominated in foreign currencies are translated into United States dollars at approximately
the market exchange rates ruling at the balance sheet date. The effect on the statements of operations of transaction gains and
losses is insignificant for all periods presented.



| | (e) | Use of estimates
| | --- | ----------------



The
preparation of the financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of expense during the
reporting period. Estimates are used when accounting for certain items such as accounting for income tax valuation allowances.
Estimates are based on historical experience, where applicable, and assumptions that management believes are reasonable under the
circumstances. Due to the inherent uncertainty involved with estimates, actual results may differ.



| | (f) | Fair value of financial instruments
| | --- | -----------------------------------



ASC Topic 825,
“Financial Instruments”, requires disclosing fair value to the extent practicable for financial instruments which are
recognized or unrecognized in the balance sheets. The fair values of the financial instruments are not necessarily representative
of the amount that could be realized or settled, nor does the fair value amount consider the tax prepayments and accrued expenses,
the fair values were determined based on the near term maturities of such the asset and obligations.



| | (g) | Recently issued accounting standards
| | --- | ------------------------------------



As of the date that this annual
report is filed, due to the Company being inactive, there are no recently issued accounting pronouncements whose adoption would
have a material impact on the Company’s financial statements.





16







Pacific Vegas Global Strategies,
Inc.



Notes
to the Financial Statements



| | 3. | DEPOSITS AND PREPAYMENTS
| | -- | ------------------------



The amount represents retainer
fee paid in advance to the Company’s lawyer.



| | 4. | INCOME TAXES
| | -- | ------------



At December 31, 2019 and 2018,
the Company had an unused net operating loss carryforward of approximately US$3,269,000 and US$3,203,000, respectively, for income
tax purposes. Of these losses, US$3,142,000 expire between 2028 to 2037, and US$127,000 have no expiration date. At December 31,
2019 and 2018, these net operating losses carryforward may result in future income tax benefits of approximately US$817,000; and
US$800,900, respectively, however, because realization is uncertain at this time, a valuation allowance in the same amount has
been established. Deferred income taxes reflect the net effects of temporary differences between the carrying amounts of assets
and liabilities for financial reporting purposes and the amounts used for income tax purposes.



Significant components of the
Company’s deferred tax liabilities and assets of December 31, 2019 and 2018 are as follows:



|                                |  | December 31, |         
|------------------------------- |  | ------------ | --------
|                                |  | 2019         |         
|                                |  | US$          |         
|Deferred tax liabilities        |  |              | -       
|Deferred tax asset-             |  |              |         
|Net operating loss carryforward |  |              | 817,238 
|Valuation allowance             |  |              | (817,238
|Net deferred tax asset          |  |              | -       



Movement of valuation allowance:



|                             |  | December 31, |        
|---------------------------- |  | ------------ | -------
|                             |  | 2019         |        
|                             |  | US$          |        
|At the beginning of the year |  |              | 800,862
|Current year addition        |  |              | 16,376 
|At the end of the year       |  |              | 817,238



A reconciliation of the income
tax expense to the amount computed by applying the current statutory tax rate to the loss before income taxes in the consolidated
statements of comprehensive loss is as follows:



|                                                     |  | December 31, |     
|---------------------------------------------------- |  | ------------ | ----
|                                                     |  | 2019         |     
|U.S. statutory income tax rate                       |  |              | 21  
|State income tax rate                                |  |              | 4.6 
|Valuation reduction                                  |  |              | (0.6
|Enacted tax reform on future tax rates               |  |              | -   
|Change in valuation allowance of deferred tax assets |  |              | (25 
|Net deferred tax asset                               |  |              | -   





17







Pacific Vegas Global Strategies,
Inc.



Notes
to the Financial Statements



| | 5. | LOSS PER SHARE
| | -- | --------------



Basic loss per common share is
calculated based on the weighted average number of common stock outstanding during each period presented.



The Company had no potential
common stock instruments with a dilutive effect for any period presented and therefore basic and diluted earnings per share are
the same.



| | 6. | DUE TO A STOCKHOLDER
| | -- | --------------------



The amount due is unsecured,
interest-free and repayable on demand.



| | 7. | COMMITMENTS AND CONTINGENCIES
| | -- | -----------------------------



The
Company is delinquent in filing its U.S. Federal tax returns and information forms for numerous years. Although for most of such
years the Company incurred losses and would not owe taxes except for minimum fees to Colorado, the failure to file could result
in interest and penalties imposed upon the Company which would have a material adverse effect upon the Company’s financial
condition. The Company has completed its delinquent filings through the DIIRSP for the past due U.S. Federal tax returns and information
forms as per the 2012 Offshore Voluntary Disclosure Program. As of December 31, 2019, managementdoes not foresee significant
tax liabilities arising from the DIIRSP.



The Company’s income tax
returns for all the lapsed years are subject to examination by the Internal Revenue Service and State tax authorities, generally
for three years after they are due or filed, whichever is later.





18







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



In
our two most recent fiscal years and any later interim period, there were no changes in and no disagreements with our principal
independent accountant on any matters with regard to our accounting and financial disclosure.



|ITEM 9A. | CONTROLS AND PROCEDURES
|-------- | -----------------------



|(a) | Disclosure controls and procedures
|--- | ----------------------------------



As
of the end of the period covered by this report, our management, with the participation of our chief financialofficer,
has performed an evaluation of the effectiveness of our disclosure controls and procedures within the meaning of Rules 13a-15(e)
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).



Based
upon that evaluation, our management has concluded that, as of December 31, 2019, our disclosure controls and procedures were effective.



|(b) | Management’s annual report on internal control over financial reporting
|--- | -----------------------------------------------------------------------



Our
management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Rules
13a-15(f) under the Exchange Act. Our management evaluated the effectiveness of our internal control over financial reporting based
on criteria established in the framework in Internal Control-Integrated Framework (2013) issued by the Committee of Sponsoring
Organizations of the Treadway Commission. Based on this evaluation, our management has concluded that our internal control over
financial reporting was effective as of December 31, 2019.



Because
of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. In addition, projections
of any evaluation of effectiveness of our internal control over financial reporting 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 and procedures
may deteriorate.



|(c) | Attestation report of the registered public accounting
firm
|--- | -----------------------------------------------------------



Not
applicable.



|(d) | Changes in internal control over financial reporting
|--- | ----------------------------------------------------



There
were no changes in our internal controls over financial reporting identified in connection with the evaluation that occurred during
our fourth fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over
financial reporting.



|ITEM 9B. | OTHER INFORMATION
|-------- | -----------------



None





19







PART III



|ITEM 10. | DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
|-------- | ------------------------------------------------------



|10.1 | DIRECTORS AND EXECUTIVE OFFICERS
|---- | --------------------------------



Information about our directors
and executive officers during the year ended and as of December 31, 2019 is set forth as follows:



|Name         |  | Age |  | Office (1)                                                        |  | Term Expires (2)
|------------ |  | --- |  | ----------------------------------------------------------------- |  | ----------------
|Kwan Sin Yee |  | 67  |  | Director, Chief Executive Officer and Chief Financial Officer (3) |  |                 



| | (1) | The business address is Room 2, LG/F., Kai Wong Commercial Building, 222 Queen’s Road, Central, Hong Kong.
| | --- | ----------------------------------------------------------------------------------------------------------

| | (2) | The term of office of each officer is at the discretion of the sole director.
| | --- | -----------------------------------------------------------------------------

| | (3) | Appointed to serve as Director, Chief Executive Officer and Chief Financial Officer effective from August 23, 2007.
| | --- | -------------------------------------------------------------------------------------------------------------------



Kwan
Sin Yee, Director, Chief Executive Officer and Chief Financial Officer of the Company, was the second largest major
shareholder prior to acquiring 36,500,000 shares from Raymond Chou. Ms. Kwan, being a well connected and low profile investor,
took over the control of the Company after the acquisition with the intention to re-organize by merging or acquisition.



Other
than the appointment of Ms. Kwan Sin Yee as Director, Chief Executive Officer and Chief Financial Officer in August 23, 2007, there
was no other person nominated or chosen to any positions as directors or executive officers for the Company during the period covered
by this report.



None
of our existing director and/or executive officer holds any positions as director or officer in any other reporting companies.



None of our existing
director and/or executive officer has been involved in any legal proceedings or such events as required to be disclosed under Item
4.01(d) of Regulation S-K.



There has been
no material changes to the procedures by which our stockholders may recommend nominees to our sole director since our last
disclosure in response to the requirements of Item 7(d)(2)(ii)(G) of Schedule 14A and Item 4.01(g) of Regulation
S-K.



|10.2 | COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE
ACT
|---- | -------------------------------------------------



Based solely upon
a review of Forms 3 and 4 and amendments thereto furnished to us pursuant to 17 CFR 240.16a-3(e) during our most recent fiscal
year and Form 5 and amendments thereto furnished to us with respect to our most recent fiscal year, and any written representation
from the reporting person (as hereinafter defined) that no Form 5 is required, we are not aware of any person who, at any
time during the fiscal year, was a director, officer, beneficial owner of more than ten percent of any class of our equity
securities registered pursuant to Section 12 of the Exchange Act (“reporting person”) that failed to file on a
timely basis, as disclosed in the above Forms, reports required by Section 16(a) of the Exchange Act during the most
recent fiscal year or prior fiscal years.





20







|10.3 | AUDIT COMMITTEE AND AUDIT COMMITTEE FINANCIAL EXPERT
|---- | ----------------------------------------------------



Currently
the Company does not have a separately-designated standing audit committee established in accordance with section 3(a)(58)(A)
of the Exchange Act, or an equivalent committee performing similar functions. Our sole director is acting as the audit committee
for the Company as specified in section 3(a)(58)(B) of the Exchange Act.



Currently
the Company does not have audit committee financial expert serving on our audit committee or our sole director which is acting
as the audit committee, due to the status that the Company has remained as a non-operating public shell since December 2004.



|10.4 | CODE OF ETHICS
|---- | --------------



The Company has
adopted a code of ethics that applies to all of our employees, including our chief executive officer and chief financial officer,
and has filed a copy of such code of ethics with the SEC as Exhibit 14.1 to our annual reports on Form 10-KSB for the
fiscal years ended December 31, 2003 and 2004, respectively. However, since the Company is no longer engaged in or related
to the business of sportsbook, certain sections thereof specifically related to the business of sportsbook are no longer applicable
or relevant.



|ITEM
11. | EXECUTIVE COMPENSATION
|-------- | ----------------------



|11.1 | SUMMARY COMPENSATION TABLE
|---- | --------------------------



Effective
as of January 1, 2005, based upon a mutual agreement between the Company and our chief executive officer and chief financial
officer, there has been no compensation or remuneration from the Company, whether in cash or in kind, awarded to, earned by and/or
paid to our chief executive officer and chief financial officer for their services rendered in all capacities to the Company.



The
following table, and its accompanying explanatory footnotes, presents the information of annual and long-term compensation, including
all plan and non-plan compensation, whether in cash or non-cash, awarded to, earned by and/or paid to our chief executive officer
and chief financial officer for her services rendered in all capacities to the Company for the last two fiscal years ended December 31,
2019 and 2018. Other than the compensation listed below, there has been no compensation from the Company, whether in cash or non-cash,
by plan or non-plan, awarded to, earned by and/or paid to our executive officer.



|Name and
Principal Position                                 |  | Fiscal Year |  | Basic
Salary |  | Bonus |  | Options
Granted |  | Other
 Compensation | 
|----------------------------------------------------------- |  | ----------- |  | ------------ |  | ----- |  | --------------- |  | ------------------- | 
|                                                            |  |             |  | US$          |  | US$   |  | US$             |  | US$                 | 
|Kwan Sin Yee                                                |  | 2019        |  | ---          |  | ---   |  | ---             |  | ---                 | 
|(Chief Executive Officer & Chief Financial
        Officer) |  | 2018        |  | ---          |  | ---   |  | ---             |  | ---                 | 



|11.2 | SUMMARY OF OPTION GRANTS
|---- | ------------------------



There
has been no grant of any stock options made to any executive officers or any employees of the Company in the last thirteen fiscal
years since the Company’s reorganization with CTGH in January 2003.





21







|ITEM 12. | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENTAND RELATED STOCKHOLDER MATTERS
|-------- | ---------------------------------------------------------------------------------------------



The
following table sets forth the number of shares of our common stock owned beneficially as at December 31, 2019 by each person
known by us to have owned beneficially more than five percent of such shares then outstanding, by each of our directors and officers
and by all of our directors and officers as a group. This information gives effect to securities deemed outstanding pursuant to
Rule 13d 3(d)(l) under the Securities Exchange Act of 1934, as amended. As to the knowledge of our management, no person owns
beneficially more than five percent of the Company’s outstanding shares of common stock as at December 31, 2019
except as set forth below.



|Name of Beneficial Owner |  | Amount and 
Nature of Beneficial Owner |                                                       |  | Percentage of Class Beneficially Owned | 
|------------------------ |  | -------------------------------------- | ----------------------------------------------------- |  | -------------------------------------- | 
|                         |  |                                        | 6,220,000                                             |  |                                        | 
|Raymond Chou (1)         |  |                                        | Common Stock                                          |  |                                        | 
|                         |  |                                        |                                                       |  |                                        | 
|                         |  |                                        | 5,700,000                                             |  |                                        | 
|Sunny So (2)             |  |                                        | Common Stock                                          |  |                                        | 
|                         |  |                                        |                                                       |  |                                        | 
|                         |  |                                        | 42,200,000                                            |  |                                        | 
|Kwan Sin Yee (1)         |  |                                        | Common
                                         Stock |  |                                        | 
|                         |  |                                        | 54,120,000                                            |  |                                        | 
|                         |  |                                        | Common
                                         Stock |  |                                        | 



| | (1) | The business address is Room 2, LG/F., Kai Wong Commercial Building, 222 Queen’s Road, Central,
Hong Kong.
| | --- | ----------------------------------------------------------------------------------------------------------



| | (2) | The business address is 7/F Flat B, 110 Soy Street, Kowloon, Hong Kong.
| | --- | -----------------------------------------------------------------------



On August 23, 2007, pursuant to a Stock
Purchase Agreement dated August 23, 2007 between Raymond Chou (“Chou”) and Kwan Sin Yee (“Kwan”), Kwan
purchased 36,500,000 shares of the common stock of the Company from Chou for a purchase price of US$109,500. The 36,500,000 shares
represented 36.5% of the total shares of the Company issued and outstanding on August 23, 2007. Kwan owns 42,200,000 shares, or
42.2% of the total shares of the Company issued and outstanding after the above-mentioned stock purchase transaction and on the
date of this report.



|ITEM 13. | CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS,
AND DIRECTOR INDEPENDENCE
|-------- | -------------------------------------------------------------------------------



There were no
related party transactions other than the private financing by loans to us from our principal stockholder, who is also the sole
director of the Company, during the last two fiscal years ended December 31, 2019 and 2018. All private loans from the principal
stockholder to the Company were unsecured, interest free and not subject to fixed term of repayment.



|ITEM 14. | PRINCIPAL ACCOUNTANT FEES AND SERVICES
|-------- | --------------------------------------



(1)
Audit Fees.



The aggregate
fees billed for the fiscal year ended December 31, 2019 for professional services rendered by Moore Hong Kong for the audit of
the Company’s annual financial statements for the year ended December 31, 2019 and the review of the financial statements
included in our quarterly reports on Form 10-Q for the year ended December 31, 2019 were US$14,800 and US$16,500, respectively.



(2)
Audit Related Fees. The Company did not pay any audit-related fees to Moore Hong Kong for both fiscal years 2019 and 2018.



(3)
Tax Fees. Moore Hong Kong did not provide any tax services to the Company in either of the fiscal years 2019 and 2018.





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(4)
All Other Fees. Moore Hong Kong did not provide any other services to the Company in either of the fiscal years 2019 and
2018.



(5)
We do not currently have a separate audit committee. Rather, our sole director serves as the audit committee. Our sole director
approved all of the services described in items (1), (2), (3) and (4) above.



PART
IV



|ITEM 15. | EXHIBITS
|-------- | --------



(a) The following documents are filed
as a part of this report



The financial statements as set forth
in Item 8 hereof



|Exhibit 31.1 |  | Certification of Chief Executive Officer pursuant to Rule 13a-14(a)                           
|------------ |  | ----------------------------------------------------------------------------------------------
|Exhibit 31.2 |  | Certification of Chief Financial Officer pursuant to Rule 13a-14(a)                           
|Exhibit 32.1 |  | Certification of Chief Executive Officer pursuant to Rule 13a-14(b) and 18 U.S.C. Section 1350
|Exhibit 32.2 |  | Certification of Chief Financial Officer pursuant to Rule 13a-14(b) and 18 U.S.C. Section 1350





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SIGNATURES



In accordance with Section 13
or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.



PACIFIC
VEGAS GLOBAL STRATEGIES, INC.

Registrant



|Date: | March 30, 2020                        |  |  | By: | /s/ KWAN SIN YEE
|----- | ------------------------------------- |  |  | --- | ----------------
|      | Kwan Sin Yee                         
|      | President and Chief Executive Officer



Pursuant to the requirements of the Securities Exchange Act
of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the
dates indicated.



|NAME             |  | TITLE                                                              |  | DATE          
|---------------- |  | ------------------------------------------------------------------ |  | --------------
|                 |  |                                                                    |  |               
|/s/ KWAN SIN YEE |  | President, Chief Executive Officer, Secretary and
        Director |  | March 30, 2020
|Kwan Sin Yee     |  |                                                                    | 
|                 |  |                                                                    |  |               
|/s/ KWAN SIN YEE |  | Chief Financial Officer                                            |  | March 30, 2020
|Kwan Sin Yee     |  |                                                                    |  |               





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