# EDGAR Filing Document

**Accession Number:** 0001726822
**File Stem:** 0001829126-23-001983
**Filing Date:** 2023-3
**Character Count:** 121977
**Document Hash:** 426f4ce0363e91dae73969e8a2aa0796
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001829126-23-001983.hdr.sgml**: 20230313

**ACCESSION NUMBER**: 0001829126-23-001983

**CONFORMED SUBMISSION TYPE**: 10-K

**PUBLIC DOCUMENT COUNT**: 42

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230313

**DATE AS OF CHANGE**: 20230313

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Soul Biotechnology Corp
- **CENTRAL INDEX KEY:** 0001726822
- **STANDARD INDUSTRIAL CLASSIFICATION:** MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833]
- **IRS NUMBER:** 823155323
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56213
- **FILM NUMBER:** 23725573

**BUSINESS ADDRESS:**
- **STREET 1:** 36 FOURTH AVE. N
- **CITY:** SASKATCHEWAN
- **STATE:** A9
- **ZIP:** S3N 2V7
- **BUSINESS PHONE:** (516) 544-2812

**MAIL ADDRESS:**
- **STREET 1:** 36 FOURTH AVE. N
- **CITY:** SASKATCHEWAN
- **STATE:** A9
- **ZIP:** S3N 2V7

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Adorbs Inc.
- **DATE OF NAME CHANGE:** 20180102

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-K**

(Mark One)

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

For the fiscal year ended: **<u>December 31, 2022</u>**

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

For the transition period from ___________ to ___________

Commission file number: **<u>000-56213</u>**

**SOUL BIOTECHNOLOGY CORPORATION**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Nevada** | **82-3155323** |
| (State or other jurisdiction of<br> incorporation or organization) | (IRS Employer<br> Identification No.) |

---

**<u>36 Fourth Ave. N, Saskatchewan, Canada S3N 2V7</u>**

(Address of principal executive offices)

**<u>(516) 544-2812</u>**

(Registrants telephone number, including area code)

Adorbs, Inc.

(Former name, former address and former fiscal year, if changed since last report)

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

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

---

| | |
|:---|:---|
| Title of Each Class | Name of Each Exchange On Which Registered |
| Common Stock, $0.001 par value per share | **N/A** |

---

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

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act. **Yes** ☒ No ☐

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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 ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted 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 such files). **Yes** ☒ No ☐

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

---

| | | | |
|:---|:---|:---|:---|
| Large Accelerated Filer | ☐ | Accelerated Filer | ☐ |
| **Non-Accelerated Filer** | ☒ | **Smaller Reporting Company** | ☒ |
| | | Emerging Growth Company | ☐ |

---

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 has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the fi ling reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

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

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 bid and asked price of such common equity, as of June 30, 2021. The section is not applicable because there is no quoted trading price on the company's securities.

As of March 10, 2023 there were 644,889,500 shares of the registrant's Common Stock issued and outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

Not Applicable.

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| [FORWARD-LOOKING STATEMENTS](#a_001) | [FORWARD-LOOKING STATEMENTS](#a_001) | ii |
| **[PART I.](#a_002)** |  | 1 |
| [Item 1.](#a_003) | [Business](#a_003) | 1 |
| [Item 1aA.](#a_004) | [Risk Factors](#a_004) | 9 |
| [Item 1B.](#a_005) | [Unresolved Staff Comments](#a_005) | 9 |
| [Item 2.](#a_006) | [Properties](#a_006) | 9 |
| [Item 3.](#a_007) | [Legal Proceedings](#a_007) | 9 |
| [Item 4.](#a_008) | [Mine Safety Disclosures](#a_008) | 9 |
| **[PART II](#a_009)** |  | 10 |
| [Item 5.](#a_010) | [Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](#a_010) | 10 |
| [Item 6.](#a_011) | [\[Reserved\]](#a_011) | 10 |
| [Item 7.](#a_012) | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#a_012) | 10 |
| [Item 7A.](#a_013) | [Quantitative and Qualitative Disclosures About Market Risk](#a_013) | 14 |
| [Item 8.](#a_014) | [Financial Statements and Supplementary Data](#a_014) | 14 |
| [Item 9.](#a_015) | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](#a_015) | 14 |
| [Item 9A.](#a_016) | [Controls and Procedures](#a_016) | 15 |
| [Item 9B.](#a_017) | [Other Information](#a_017) | 16 |
| [Item 9C.](#a_018) | [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](#a_018) | 16 |
| **[PART III](#a_019)** |  | 17 |
| [Item 10.](#a_020) | [Directors, Executive Officers and Corporate Governance](#a_020) | 17 |
| [Item 11.](#a_021) | [Executive Compensation](#a_021) | 18 |
| [Item 12.](#a_022) | [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](#a_022) | 19 |
| [Item 13.](#a_023) | [Certain Relationships and Related Transactions, and Director Independence](#a_023) | 20 |
| [Item 14.](#a_024) | [Principal Accountant Fees and Services](#a_024) | 20 |
| **[PART IV](#a_025)** |  | F-1 |
| [Item 15.](#a_026) | [Exhibits and Financial Statement Schedules](#a_026) | F-1 |
| [Item 16.](#a_027) | [Form 10-K Summary](#a_027) | 21 |
|  | [SIGNATURES](#a_028) | 22 |

---

i

**FORWARD-LOOKING STATEMENTS**

Except for historical information, this report 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"). Such forward-looking statements include, among others, those statements including the words "believes," "anticipates," "expects," "intends," "estimates," "plans" and words of similar import. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Forward-looking statements are based on our current expectations and assumptions regarding our business, potential target businesses, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore that you should not rely on any of these forward-looking statements as statements of historical fact or as guarantees or assurances of future performance.

Given these uncertainties, readers of this Annual Report on Form 10-K ("Annual Report") and investors are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future events or developments. All references in this Annual Report to the "Company," "Soul," "we," "us," or "our," are to Soul Biotechnology Corporation.

ii

**PART I**

**ITEM 1. BUSINESS**

**<u>Corporate History</u>**

Soul Biotechnology Corporation ("Soul", or the "Company") was incorporated under the laws of the State of Nevada on October 18, 2017 as Adorbs Inc. The Company changed its name to Soul Biotechnology Corporation on January 3, 2023.

Former management was comprised of two people, Rebecca Jill Lazar, Chief Executive Officer; and Michael Lazar, Chief Financial Officer. Due to the development stage of the Company, Ms. Lazar spent part of her time toward the everyday operations and forward movement of the corporation. Ms. Lazar's responsibilities included acting as the Company's creative designer as well as determining the overall design direction of the company and its marketing strategy. Ms. Lazar cultivated relationships with children's clothing stores and manufacturers and spent the time necessary to oversee the product development, manufacturing, sales, and marketing campaigns, website design, and direct the primary operations of the business.

On January 19, 2018, the Company filed a Form S-1 for registration of securities under the Securities Act of 1933. The S-1 was declared effective on March 14, 2018, and at that time the Company became a fully reporting public company. The Company filed its first Form 10-Q on May 10, 2018, for the period ended March 31, 2018, and subsequently filed all required reports until through the period ended March 31, 2019. On July 1, 2019, the Company filed a Form 15 to terminate its registration. Despite her best efforts, Ms. Lazar determined during the three months ended June 30, 2020, that the Company's business plan was no longer viable. Subsequently, during July 2020, Ms. Lazar and her husband Michael Lazar resigned their positions executive positions with the Company and gifted their majority shareholdings for no consideration to Activist Investing LLC, an entity controlled by Michael Lazar's brother, David Lazar. These shares were gifted in return for David Lazar's commitment to provide funding to the Company going forward and for his expertise in managing and directing distressed companies.

Activist Investing LLC received 11,000,000 shares from Ms. Lazar, and 10,000,000 shares from Michael Lazar for a total of 21,000,000 shares. Based upon 23,889,500 shares outstanding, this effectively gave David Lazar 87.9% ownership of the Company. Concurrently with the change of control, David Lazar was appointed as CEO and Director and is currently the only employee, officer, and director of the Company. As a result of these transactions, the Company become a "blank check" company.

On June 22, 2020, the Company dismissed Michael Gillespie & Associates, PLLC "Gillespie") as its independent registered public accounting firm who had performed the audit of the Company's 2018 financial statements for the year ended December 31, 2018. Gillespie's report on the Company's financial statements for the year ended December 31, 2018, did not contain any adverse opinions or disclaimers of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles, except that such reports included explanatory paragraphs with respect to the Company's ability to continue as a going concern. During the year ended December 31, 2018, and through June 21, 2020, there were no (a) disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K) with Gillespie on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to satisfaction, would have caused Gillespie to make reference to the subject matter thereof in connection with its reports for the period ended 2018 or (b) reportable events, as described under Item 304(a)(1)(v) of Regulation S-K.

On June 22 2020, the Company appointed AJSH & Co. LLP, a PCOAB registered firm as its independent registered accounting firm who performed the Company's audit for the period ended December 31, 2019 and has reviewed its financial statements for the three and nine-month period ended September 30, 2021.

On December 29, 2020, the Company's Registration Statement on Form 10-12G was declared effective.

On February 10, 2022, Soul Inc. ("ADOB," or the "Company") entered into a share exchange agreement (the "Share Exchange Agreement") with MySpray Therapeutics Inc. ("MySpray"), an Saskatchewan, Canadian corporation, Nichol Martinuik ("Martinuik") and Rachel Martinuik ("R. Martinuik"), the sole officers, directors, and shareholders of MySpray, Qatar Consulting Inc. & Company ("Qatar"), Broadway Creative Consultants Corp. ("Broadway"), and David Lazar ("Lazar"), as the sole officer and director of ADOB and the managing member of Activist Investing LLC. Under the Share Exchange Agreement, One Hundred Percent (100%) of the ownership interest of MySpray was exchanged for (i) 51,110,500 shares of common stock of the Company at the Closing, and (ii) an additional 593,779,000 shares of common stock of ADOB, issued upon the increase in authorized shares of common stock of ADOB to 700,000,000, each of which is to be issued to Martinuik, R. Martinuik, Qatar, Broadway, and Activist, pro-rata, in accordance with the Share Exchange Agreement. The former stockholders of MySpray acquired a majority of the issued and outstanding common stock as a result of the share exchange transaction. The transaction has been accounted for as a recapitalization of the Company, whereby MySpray is the accounting acquirer.

On April 26, 2022, Adorbs Inc. (the "Company") terminated its engagement with AJSH & Co LLP ("AJSH"), the Registrant's prior independent registered public accounting firm, and thereafter provided AJSH with its disclosures in the Current Report on Form 8-K disclosing the termination of the engagement of AJSH and requested in writing that AJSH furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not they agree with such disclosures. AJSH's response is filed as an exhibit to this Current Report on Form 8-K.

The auditor reports by AJSH contained in the financial statements of the Company for the years ended December 31, 2021 and 2020, filed as part of the annual reports on Form 10-K for the years ended December 31, 2021 and 2020, did not contain an adverse opinion or disclaimer of opinion or were qualified or modified as to uncertainty, audit scope or accounting principles, other than to state that there is substantial doubt as to the Company's ability to continue as a going concern. There had been no disagreements with AJSH on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure during the fiscal years ended December 31, 2021 and 2020, nor in the subsequent periods through April 26, 2022.

On April 26, 2022, the Board of Directors of the Company engaged BF Borgers CPA PC ("Borgers") as its independent accountant to provide auditing services for going forward for the Company. The Company has terminated the engagement of AJSH. The decision to hire Borgers was approved by the Company's Board of Directors.

**Business Overview** 

Soul Biotechnology Corporation ("ADOB" or the "Company") is a US holding company incorporated in Nevada in October 2017, which operates through the Company's wholly owned subsidiary MySpray Therapeutics Inc. ("MySpray"), a Saskatchewan, Canada corporation incorporated on October 2, 2012.

MySpray creates innovative and clinically developed products for the global natural health community in the areas of immune function, mental health, and pain management.

MySpray Therapeutics® Inc. is currently the license holder of 9 Natural Product Numbers (NPN) through the Natural and Non-prescription Health Products Directorate division of Health Canada.

We are preparing to expand formulas to support clinical trials along with the licensing for research and development in the fields of mental health and the impact of treatment protocols with phytonutrients, medicinal mushrooms, and psychedelic compounds under our current "MyShrooms" brand.

We are attempting end to end capabilities from substrate for growth, genetics, research, extraction, formulations, delivery, and distribution of the finished product. This could allow MySpray to maintain high quality control and enable us to:

● Create formulations for clinical trials.

● Supply raw materials, standardized extracts, and medicinal compounds that are in high demand for ongoing academic research globally.

● Provide finished products direct to consumer.

● Offer white label manufacturing.

Through this process, we are attempting to achieve a net zero global environmental footprint, implementing growth solutions using naturally composted substrates and by-products of manufacturing current products. MySpray is a current member of the Canadian Health Food Association (CHFA) and presently offers 5 products in the natural health marketplace, and proudly manufactures in Canada with cGMP credentials, sourced from USDA-certified organic North American producers.

MySpray is clinically developing innovative and evidence-based therapeutics that can help us generate revenue through the sales of its five products to distributors, direct wholesale to pharmacies, clinics, health stores, ecommerce and traditional retailers, along with our retail online store.

**Background of the Company** 

MySpray Therapeutics was founded in 2012 by natural health practitioner and researcher, Nichol Martinuik, with a mission of creating the most innovative and life changing products.

The first mission was to find a solution to the low absorption rates of nutrients from pills, leading to the development of Vitamin D3 and B12 oral sprays. Sublingual and buccal absorption provides a much higher absorption by the body, eliminating the gastric breakdown through digestion. With the use of a convenient spray, it ensures that your body is receiving the maximum benefits.

MyPain LiniMint was the next product to be approved by Health Canada, after many years of clinical research and development with dimethyl sulfoxide ("DMSO") as a topical analgesic for pain management. DMSO provides tissue penetration directly to the site of pain and inflammation, with capabilities beyond any other topically applied product. Many trials were conducted with this formula to create a balanced product that minimized the odors associated with DMSO.

MyShrooms Immunity was then developed as an immune modulator and formulated with a synergistic blend of 8 medicinal mushrooms. Fungi have been revered medically for thousands of years in their abilities to increase the immune system's recognition and defence from daily threats. MyShrooms Defence is the evolution of the original Vitamin D3 spray, and a combination of Chaga and D3. Chaga is a potent substance containing over 200 nutrients, including vitamin D and the cofactors necessary for absorption, creating a superior formula for disease prevention.

MySpray is committed to ongoing research, and the development of innovative solutions and premium health products. Nichol is a member of the Natural Health Practitioners of Canada, and the Saskatchewan Association of Doctors of Natural Medicine. MySpray Therapeutics is proudly manufactured in Canada and a proud member of the Canadian Health Food Association.

**Products**

MySpray offers products in a variety of delivery systems including topical, capsules, and through a highly absorbed convenient oral spray delivery system.

*MyShrooms Immune-Pro*

MyShrooms Immune-Pro is a clinical strength herbal medicine to activate, balance, and support a healthy immune system. It is formulated with a powerful and unique trifecta of medicinal mushrooms, ginseng, and propolis. With potent antioxidants and powerful adaptogens it increases energy and the body's response to stress, along with related mental and physical fatigue.

*MyShrooms Defence*

MyShrooms Defence is a combination of chaga, often proclaimed "king of medicinal mushrooms," and Vitamin D. Chaga is a rich source of potent antioxidants and powerful phytochemicals, such as sterols, phenols, beta-glucans, and melanin. Vitamin D, widely known as the sunshine vitamin, is an essential hormone for disease prevention, and the regulation of minerals. Combined they strengthen the body's natural defence system, and protect against pathogens, illness and disease.

*MyShrooms Immunity*

MyShrooms Immunity offers the synergistic effect of 8 medicinal mushrooms, each containing complex, unique and specific compounds providing significant health benefits throughout the whole body. As an immune modulator, it helps to activate, balance and restore a healthy immune response with a comprehensive combination of the most potent medicinal mushrooms including: Reishi, Chaga, Cordyceps, Turkey Tail, Lion's Mane, Agaricus Blazei, Shiitake, and Maitake.

*MyShrooms Energy*

MyShrooms Energy is a combination of Cordyceps and Vitamin B12. Cordyceps mushroom has been used for centuries for its energizing and apoptogenic properties, as well as to support oxygen uptake, stamina, endurance, libido, kidney and adrenal health. With naturally occurring B-vitamins, it is a perfect blend to include Vitamin B12 with its essential and diverse functions in the body. B12 is involved in the maintenance of the nervous system, red blood cell production, energy metabolism and the proper functioning of our brain, heart, liver, and kidneys. Combined they contribute to optimal health, well-being, performance, mood, vitality and energy.

*MyPain LiniMint*

MyPain LiniMint contains 80% DMSO and delivers the deepest tissue penetration available. It is 100% natural and provides unmatched pain relief from muscle strains, joint sprains, backaches & arthritis. The powerful analgesic properties easily penetrate through the skin into all tissues, reducing pain and inflammation at the source to promote the body's natural healing process, a remarkable advantage over other topically applied products.

With approximately 11,000 studies on DMSO, research demonstrates its analgesic properties by blocking the peripheral C nerve fibers and acts as an antioxidant neutralizing the free radicals of inflammation.

MySpray generates revenue through the sales of its five products to distributors, direct wholesale to pharmacies, clinics, health stores, ecommerce and traditional retailers, along with our retail online store.

**Strategic Market Analysis**

MySpray's marketing campaign will target consumers via 5 avenues:

---

| | |
|:---|:---|
| (1) Direct selling to consumers via MySpray.ca | ~88% gross margin |
| (2) Selling to wholesalers that in turn sell to retailers | ~70% gross margin |
| (3) Selling directly to retailers | ~79% gross margin |
| (4) Private labeling products for foreign markets | ~ 65% gross margin |
| (5) Market App via existing networks of Clinics, |  |
| Treatment Centers and alike. | Unknown |

---

One of the next focuses for the Company will be exploring overseas partners due to lowered risk factors during this critical growth stage. Some of these risk reducers include but are not limited to: the payment terms (payment in full the moment it is delivered), bulk orders ($1mm+ opening orders), and guaranteed payments (via EDC). With significant inroads already completed, traction is starting to come in from large trade shows visited in China over the last several years.

In addition to the foreign markets, the more obvious focus is going to be on direct selling via online. Direct selling needs to be played cautiously and the prices need to be firmly set so that retailers are not undercut and feeling slighted by our direct selling campaigns. Immediate next steps in this area will be focusing on a social media and Google AdWord marketing campaigns. Additionally, focusing on influencers and other key market drivers that can be strategically aligned with the brand.

Lastly, MySpray wants to keep up current relationships with wholesalers/retailers and have the company better financed to be able to keep up with their consistently growing demand for the products.

**Marketing Objectives**

The objectives of our marketing strategy will emphasize focus on our 3 previously defined markets. In order to achieve its goal, MySpray intends to adopt the following strategies:

1. Offer
a limited number of SKU's. MySpray doesn't want to be everything, instead really good at a few things.

2. Keep
the market strategy simple and push for more overseas partners – understand their markets – allow them to market their products
within their local markets with some autonomy.

3. Within
North America and parts of Europe, keep the brand very consistent, simple, clean and to the point.

MySpray's strategy is to grow the business by nurturing clients, differentiating from our competitors, particularly through solid business ethics. Alliances, collaboration and training will be conducted on a regular basis to ensure that the products are fully understood and communicated to meet customer expectation. The 4 main focuses for getting the name out and having the story properly told will be via:

● Advertising online

● Social media influencers and market movers

● Consistent virtual training with our founder and the key reps in the field

● Trade shows and events

**Pricing**

COGS for all liquids are within $.30 including warehousing and labeling of an average of $7.50, and production cost may vary +- 5% from batch to batch. All products are currently priced the same for convenience and ease.

---

| | |
|:---|:---|
| Retail sales: MSRP $59.99 | = 88% margin |
| Wholesale to retailers: $34.99 | = 79% margin |
| Distribution company's: $24.99 | = 70% margin |

---

In regards to the MyHealth App, our goal is to keep the base price relatively low $29.99/month, then have extras and extended availability of care for higher rates $99/month and up. For some that are dealing with more substantial trauma and/or needs, an a-la-carte style can be purchased to access the right specialists, one-on-one.

*Pain Management*

The growing baby-boomer population continues to drive demand of innovative and advanced pain relaxing medications around the western world. Additionally, the increasing number of hospitalization cases; unmet requirements for neuropathic pain management drugs; innovative and advanced applications of pain management therapies; increasing prevalence of various chronic diseases, such as cancer, and neurological problems; and increasing healthcare expenditure are also driving the growth of the global market. The growing numbers of mergers and acquisitions is a key trend observed in the market. Among the various therapeutic indications, the post-operative pain relief segment accounted for the largest share, and the low-back pain segment accounted for the second largest share in the global market.

Pain management drugs are mainly used to relieve discomfort associated with injury and surgeries. Moreover, pain management medications are used in the management of pain associated with neurological problems, migraine, cancer, orthopedic problems, low-back pain, rheumatoid arthritis, and fibromyalgia.

The stringent regulation for the approval of pain management drugs is restraining the growth of global market. High expenditure requirement in the manufacturing of pain management drugs and risks of side-effects associated with pain-killers are also hindering the growth of global market.

North America and Europe are the major markets, due to increasing prevalence of chronic diseases, and growing awareness about various types of chronic pain conditions in these regions. The U.S. followed by Canada, is the largest market for pain management drugs in North America. Whereas, the U.K., Germany and France are some of the major countries holding significant share in the European pain management drugs market.

The Asian market is growing with a significant rate, owing to huge pool of patients, and increasing healthcare spending in the region. In addition, the initiatives taken by various government associations to develop chronic pain rehabilitation centers, and increasing prevalence of various chronic diseases are also supporting the growth of the Asian pain management drugs market. The countries such as India, Japan and China, are the major markets in the region.

Apart from these regions, Latin America is another important market. This is due to increasing investments by drug manufacturing companies and growing demand of pain management medications in the region. Brazil holds the largest share in the Latin American pain management drugs market, due to the increasing support from government organizations for the development of chronic pain rehabilitation centers in the country.

*Immune System*

Fungi have long been used as herbal drugs in Traditional Chinese Medicine and the source of numerous pharmaceuticals. In today's world with Covid, stress and over increased use of antibiotics our world has developed a weak immune system problem. Many people have long searched out natural remedies for this problem and have been hit with the same string of products – generic extracts/vitamins like ginseng, echinacea, vitamin C & D among others. Most of which work, however, given our current global immune suppression a more comprehensive immune system support product is being desired.

In the article titled "Immune Health Supplements Market Size [2020-2027]: Is Projected to Reach USD 29.40 Billion by 2027, Exhibiting a CAGR of 7.4%" posted to the Global Newswire News Room website on April 14, 2021, stated the COVID-19 pandemic is surging the demand for immune health supplements across the globe. This growth is attributable to the rising reconsideration of health and well-being by the masses. They are persistently striving to dodge any type of infectious disease by consuming immunity boosters. One of the significant challenges that may occur is the disruptions in the supply chain network – which was noted by The Nutrition Business Journal in April 2020.

*Mental Health and Performance*

Common mental health disorders are inadequately treated using traditional medications, many of which have low or variable efficacy, undesirable or dangerous side effects, and sometimes addictive properties. Traditional medications typically are prescribed for daily use over an extended period and take weeks or months to reduce symptoms. In addition to lowered quality of life for the individual, poor medication efficacy results in high societal costs in healthcare and lost productivity.

Psilocybin has been investigated as treatment for depression, anxiety disorders, obsessive-compulsive disorder, alcohol use disorder, and tobacco use disorder (Daniel and Haberman, 2017). The Johns Hopkins Center for Psychedelic & Consciousness Research has published more than 60 peer-reviewed studies showing therapeutic effects of psilocybin in patients suffering from addictions, anxiety, and treatment-resistant depression.

A key finding is that psilocybin, when combined with psychological therapy, appears to have curative potential rather than symptom management effects. 4 weeks after receiving 2 psilocybin-assisted psychotherapy sessions, 71% of study participants suffering from major depression had a reduction in symptoms, and 54% of individuals no longer met the criteria for depression (Davis et al., 2020). The lead author of the study noted that the magnitude of the effect was approximately four times larger than traditional antidepressants in the market. Similarly, 80% of cancer patients receiving 2 psilocybin sessions showed significant reductions in anxiety and depressed mood 6 months after treatment.

The work at the Johns Hopkins Center (2006, 2008) has also demonstrated that a single psilocybin session resulted in positive mood, attitude, and behavioral changes in healthy individuals, with lasting effects of 14 months or longer. A single psilocybin session increased well-being or life satisfaction in 64% of individuals. Psilocybin sessions have also been associated with increased emotional and brain plasticity (2020), including altered top-down control of emotions, increased overall brain connectivity, and enduring changes in the personality domain of openness (2011).

**Customer Profile**

MySpray customers will be in 4 forms:

&nbsp;&nbsp;&nbsp;&nbsp;1. Private
 Label Partners

&nbsp;&nbsp;&nbsp;&nbsp;2. Distributors

&nbsp;&nbsp;&nbsp;&nbsp;3. Retailers
 (products and MyHealth App)

&nbsp;&nbsp;&nbsp;&nbsp;4. End Consumer (products and MyHealth App)

MySpray has identified the 3 main target markets each with their own target customer profile. The 3 target markets are Immune Health, Pain Management and Mental Health/Performance (as previously outlined in this document). The broader targeted segments of the population for each are as follows (not an exhaustive list):

&nbsp;&nbsp;&nbsp;&nbsp;1. Immune
 Health- the health-conscious baby boomer, compromised from the over sanitation resulting
 from Covid protocols.

&nbsp;&nbsp;&nbsp;&nbsp;2. Pain
 Management- baby boomers that have lingering sports injuries and arthritis as well as Gen
 X and Millennials that are currenting playing sports and have aches/pains related to their
 respective sports.

&nbsp;&nbsp;&nbsp;&nbsp;3. Mental
 Health- Millennials and Gen X that looking for the mental edge in their professional careers.
 Additionally, Millennials that are ever increasingly reliant on pharmaceuticals for ADHD,
 Depression, Anxiety among other things.

**Employees**

We currently have 5 employees, two of whom are officers and directors of ADOB and MySpray. The other 3 employees are under contractwith MySpray. They include two therapists and an officer manager. The therapists are paid per patient and therapy, have a thirty day mutual termination notice requirement and a one-year non-compete clause. Our office manager is paid an annual salary with a thirty day mutual termination notice requirement. We anticipate hiring additional employees in the next twelve months. We anticipate hiring necessary personnel based on an as-needed basis only on a per-contract basis to be compensated directly from revenues.

**Intellectual Property**

MySpray Therapeutics® Inc. is currently the license holder of 9 Natural Product Numbers (NPN) through the Natural and Non-prescription Health Products Directorate division of Health Canada.

**Reports to Security Holders**

You may read and copy any materials the Company files with the Commission in the Commission's Public Reference Section, Room 1580, 100 F Street N.E., Washington, D.C. 20549. You may obtain information on the operation of the Public Reference Section by calling the SEC at 1-800-SEC-0330. Additionally, the SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC, which can be found at <u>http://www.sec.gov</u>.

**ITEM 1A. RISK FACTORS**

*AS A SMALLER REPORTING COMPANY, WE ARE NOT REQUIRED TO PROVIDE A STATEMENT OF RISK FACTORS.* 

**ITEM 1B. UNRESOLVED STAFF COMMENTS**

None.

**ITEM 2. PROPERTIES**

Our mailing address is 36 Fourth Ave. N, Saskatchewan, Canada S3N 2V7. ADOB's wholly-owned subsidiary, MySpray, has an address of Drawer 188, 36 Fourth Avenue North, Yorkton, Saskatchewan, Canada, S3N 2V7. Nichol Martinuik owns the laboratory building that MySpray occupies. He rents this facility to the Company based on a verbal, month-to-month agreement. During the years December 31, 2022 and December 31, 2021, the Company paid $19,614 and $-0- in rent, respectively. The Company believes that this rent expense is reasonable and comparable to the rent that would be charged to a third party.

**ITEM 3. LEGAL PROCEEDINGS**

We know of no active or pending legal proceedings against us, nor are we involved as a plaintiff in any proceedings or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any beneficial shareholder are an adverse party or has a material interest adverse to us.

**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**

**Market Information**

Our Common Stock is currently quoted on the Pink tier of OTC Markets under the symbol "ADOB." However, there is currently no trading market for our Common Stock and there is no assurance that a regular trading market will ever develop.

**Holders**

As of February 27, 2023, there were approximately 45 holders of record of our Common Stock.

**Dividends**

To date, we have not paid dividends on shares of our Common Stock and we do not expect to declare or pay dividends on shares of our Common Stock in the foreseeable future. The payment of any dividends will depend upon our future earnings, if any, our financial condition, and other factors deemed relevant by our Board.

**Securities Authorized for Issuance under Equity Compensation Plans**

We have no existing equity compensation plan.

**Recent Sales of Unregistered Securities; Use of Proceeds from Sale of Registered Securities**

None.

**Rule 10B-18 Transactions**

During the year ended December 31, 2022, neither the Company nor any affiliated purchaser of the Company, purchased any equity securities of the Company that are registered pursuant to Section 12 of the Exchange Act.

**ITEM 6. [RESERVED]**

**ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**

*THIS SECTION OF THE ANNUAL REPORT INCLUDES A NUMBER OF FORWARD-LOOKING STATEMENTS THAT REFLECT OUR CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND FINANCIAL PERFORMANCE. FORWARD-LOOKING STATEMENTS ARE OFTEN IDENTIFIED BY WORDS LIKE: "BELIEVE," "EXPECT," "ESTIMATE," "ANTICIPATE," "INTEND," "PROJECT" AND SIMILAR EXPRESSIONS, OR WORDS THAT, BY THEIR NATURE, REFER TO FUTURE EVENTS. YOU SHOULD NOT PLACE UNDUE CERTAINTY ON THESE FORWARD-LOOKING STATEMENTS, WHICH APPLY ONLY AS OF THE DATE OF THIS PROSPECTUS. THESE FORWARD-LOOKING STATEMENTS ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM HISTORICAL RESULTS OR OUR PREDICTIONS.*

*OUR FINANCIAL STATEMENTS ARE STATED IN UNITED STATES DOLLARS (USD OR US$) AND ARE PREPARED IN ACCORDANCE WITH UNITED STATES GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. ALL REFERENCES TO "COMMON STOCK" REFER TO THE COMMON SHARES IN OUR CAPITAL STOCK.*

**Overview**

Soul Biotechnology Corporation ("Soul", or the "Company") was incorporated under the laws of the State of Nevada on October 18, 2017 as Adorbs Inc. The Company changed its name to Soul Biotechnology Corporation on January 3, 2023. Soul is a developmental stage corporation formed to provide organic children's clothing designed to be cute, comfortable, and trendy. The vision of Soul is bright, basic & comfortable organic clothes, if the price of organic material makes financial sense, including wearable and comfortable cute clothes, leggings, t-shirt, sweatshirts, skirts, dresses, and onesies (the "Clothing Line"). The clothing has and will have basic bold colors, such as black, red, orange, yellow, green, grey, blue, purple, and fuchsia. It includes and will include, a variety of ideas with patch work, appliqué, food, emojis, animals, letters, words. This way, a child could tell a story about their clothing.

Former management was comprised of two people, Rebecca Jill Lazar, Chief Executive Officer; and Michael Lazar, Chief Financial Officer. Due to the development stage of the Company, Ms. Lazar spent part of her time toward the everyday operations and forward movement of the corporation. Ms. Lazar's responsibilities included acting as the Company's creative designer as well as determining the overall design direction of the company and its marketing strategy. Ms. Lazar cultivated relationships with children's clothing stores and manufacturers and spent the time necessary to oversee the product development, manufacturing, sales, and marketing campaigns, website design, and direct the primary operations of the business.

On January 19, 2018, the Company filed a Form S-1 for registration of securities under the Securities Act of 1933. The S-1 was declared effective on March 14, 2018, and at that time the Company became a fully reporting public company. The Company filed its first Form 10-Q on May 10, 2018, for the period ended March 31, 2018, and subsequently filed all required reports until through the period ended March 31, 2019. On July 1, 2019, the Company filed a Form 15 to terminate its registration. Despite her best efforts, Ms. Lazar determined during the three months ended June 30, 2020, that the Company's business plan was no longer viable. Subsequently, during July 2020, Ms. Lazar and her husband Michael Lazar resigned their positions executive positions with the Company and gifted their majority shareholdings for no consideration to Activist Investing LLC, an entity controlled by Michael Lazar's brother, David Lazar. These shares were gifted in return for David Lazar's commitment to provide funding to the Company going forward and for his expertise in managing and directing distressed companies.

Activist Investing LLC received 11,000,000 shares from Ms. Lazar, and 10,000,000 shares from Michael Lazar for a total of 21,000,000 shares. Based upon 23,889,500 shares outstanding, this effectively gave David Lazar 87.9% ownership of the Company. Concurrently with the change of control, David Lazar was appointed as CEO and Director and is currently the only employee, officer, and director of the Company. As a result of these transactions, the Company become a "blank check" company.

On June 22, 2020, the Company dismissed Michael Gillespie & Associates, PLLC "Gillespie") as its independent registered public accounting firm who had performed the audit of the Company's 2018 financial statements for the year ended December 31, 2018. Gillespie's report on the Company's financial statements for the year ended December 31, 2018, did not contain any adverse opinions or disclaimers of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles, except that such reports included explanatory paragraphs with respect to the Company's ability to continue as a going concern. During the year ended December 31, 2018, and through June 21, 2020, there were no (a) disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K) with Gillespie on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to satisfaction, would have caused Gillespie to make reference to the subject matter thereof in connection with its reports for the period ended 2018 or (b) reportable events, as described under Item 304(a)(1)(v) of Regulation S-K.

On June 22 2020, the Company appointed AJSH & Co. LLP, a PCOAB registered firm as its independent registered accounting firm who performed the Company's audit for the period ended December 31, 2019 and has reviewed its financial statements for the three and nine-month period ended September 30, 2021.

On December 29, 2020, the Company's Registration Statement on Form 10-12G was declared effective.

On February 10, 2022, Soul Inc. ("ADOB," or the "Company") entered into a share exchange agreement (the "Share Exchange Agreement") with MySpray Therapeutics Inc. ("MySpray"), an Saskatchewan, Canadian corporation, Nichol Martinuik ("Martinuik") and Rachel Martinuik ("R. Martinuik"), the sole officers, directors, and shareholders of MySpray, Qatar Consulting Inc. & Company ("Qatar"), Broadway Creative Consultants Corp. ("Broadway"), and David Lazar ("Lazar"), as the sole officer and director of ADOB and the managing member of Activist Investing LLC. Under the Share Exchange Agreement, One Hundred Percent (100%) of the ownership interest of MySpray was exchanged for (i) 51,110,500 shares of common stock of the Company at the Closing, and (ii) an additional 593,779,000 shares of common stock of ADOB, issued upon the increase in authorized shares of common stock of ADOB to 700,000,000, each of which is to be issued to Martinuik, R. Martinuik, Qatar, Broadway, and Activist, pro-rata, in accordance with the Share Exchange Agreement. The former stockholders of MySpray acquired a majority of the issued and outstanding common stock as a result of the share exchange transaction. The transaction has been accounted for as a recapitalization of the Company, whereby MySpray is the accounting acquirer.

**Results of Operations**

*Year Ended December 31, 2022 Compared to Year Ended December 31, 2021*

Our results of operations for the years ended December 31, 2022 and 2021 are summarized below:

---

| | | | |
|:---|:---|:---|:---|
|  | **Years Ended** | **Years Ended** | |
|  | **December 31,** | **December 31,** | |
|  | **2022** | **2021** |<br>**Change** |
| Revenue | $296597 | $81 | $296516 |
| Operating expenses | 566668 | 45900 | 520768 |
| Interest expense (income) | 1715 | (21) | (1736) |
| Net loss | $(342570) | $(45798) | $(296772) |

---

Revenues

During the years ended December 31, 2022 and 2021, we recorded $296,597 and $83, in revenue, respectively. The increase is due to the acquisition of an operating entity, MySpray.

Operating Expenses

Operating expenses for the years ended December 31, 2022 and 2021 were $566,668 and $45,900 respectively. For the year ended December 31, 2022, the operating expenses consisted of professional fees of $274,253, amortization of $40,764 and general and administrative expenses of $251,652. For the year ended December 31, 2021, the operating expenses consisted of professional fees of $27,360, and general and administrative expenses of $18,540.

The increase in all expense categories is primarily the result of the acquisition of an operating entity, MySpray.

Other Expense (Income)

During the years ended December 31, 2022 and 2021, other expenses consisted of $1,715 in interest expense in the 2022 period, and $21 of interest income in the 2021 period.

Net Loss

As a result of the foregoing, we incurred a net loss of $(342,750) for the year ended December 31, 2022, compared to a net loss of $(45,798) for the year ended December 31, 2021.

**Liquidity and Capital Resources**

---

| | | | |
|:---|:---|:---|:---|
|  | **December 31,**<br>**2022** | **December 31,**<br>**2021** |<br>**Change** |
| Cash | $41808 | $9499 | $32309 |
| Total Assets | $680731 | $9499 | $671232 |
| Total Liabilities | $1144067 | $143180 | $1000887 |
| Stockholders' Deficit | $(463336) | $(133681) | $(329655) |
| Working Capital Deficit | $(1034923) | $(133681) | $(901242) |

---

As of December 31, 2022, we had current assets of $79,612 and current liabilities of $1,114,535 The increase in assets and liabilities during the year ended December 31, 2022 was mainly due to due to the acquisition of an operating entity, MySpray.

The Company expects to generate operating cash flow that will be sufficient to fund presently anticipated operations although there can be no assurance. This raises substantial doubt about the Company's ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing to supplement expected cash flow. Historically, the Company has raised capital through private placements, as an interim measure to finance working capital needs and may continue to raise additional capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to do so until its operations become profitable.

The Company may attempt to raise capital in the near future through the sale of equity or debt financing; however, there can be assurances the Company will be successful in doing so. There can be no assurance that such additional financing will be available to the Company on acceptable terms or at all.

***Cash Flows***

---

| | | |
|:---|:---|:---|
|  | **Years Ended** | **Years Ended** |
|  | **December 31,** | **December 31,** |
|  | **2022** | **2021** |
| Cash used in operating activities | $(199165) | $(45798) |
| Cash provided by investing activities | 19981 |  |
| Cash provided by financing activities | 209685 | 41704 |
| Effect of exchange rates on cash and cash equivalents | 1807 | - |
| Net Change In Cash | $32808 | $(4094) |

---

*Operating Activities*

For the year ended December 31, 2022, net cash used in operating activities was $(199,165), compared to net cash used in operating activities of $(45,798) for the period ended December 31, 2021. The increase is attributable to increased operating losses of $296,772 in the 2022 period compared to 2021 offset by an increase in intangible asset amortization of $40,764, and an increase in in net operating assets and liabilities of $102,642.

*Investing Activities*

The Company provided $19,981 and $-0- from investing activities for the years ended December 31, 2022 and 2021, respectively which were obtained through the acquisition of MySpray.

*Financing Activities*

The Company realized $209,685 and $41,704 from financing activities during the years ended December 31, 2022 and 2021, respectively. During the year ended December 31, 2022, the Company received 196,864 from the sale of common stock.

During the years ended December 31, 2022 and 2021, the Company received loans from a related parties in the amounts of $12,821 and $41,704, respectively.

**Critical Accounting Policies and Estimates**

The preparation of financial statements in conformity with generally accepted accounting principles requires management to select appropriate accounting policies and to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses.

**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 our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to our stockholders.

**Contractual Obligations**

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

**ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA**

The information required by this Item is incorporated herein by reference to the consolidated financial statements and supplementary data set forth in Item 15. Exhibits, Financial Statement Schedules of Part IV of this Annual Report.

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

None.

**ITEM 9A. CONTROLS AND PROCEDURES**

**Disclosure Controls and Procedures**

We maintain disclosure controls and procedures, as defined in Rule 13a-15(e) and Rule 15d-15(e) promulgated under 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 SEC's rules and forms and that such information is accumulated and communicated to our senior management, consisting of David Lazar, Chief Executive Officer, Treasurer and Secretary (Principal Executive Officer and Principal 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 senior management, consisting of David Lazar, Chief Executive Officer, Secretary and Treasurer (Principal Executive Officer and Principal Financial Officer) of the effectiveness of the design and operation of our disclosure controls and procedures as of December 31, 2022. 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, David Lazar, Chief Executive Officer, Treasurer and Secretary (Principal Executive Officer and Principal Financial Officer) concluded that our disclosure controls and procedures were not effective.

**Management's Report on Internal Control Over Financial Reporting**

Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Exchange Act as a process designed by, or under the supervision of, our principal executive and principal financial officers and effected by our Board, management and other personnel, 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 and includes those policies and procedures that:

● Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets;

● Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles generally accepted in the United States of America and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and

● Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. 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. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Because of the inherent limitations of internal control, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk.

As of December 31, 2022, our management, consisting of David Lazar, Chief Executive Officer, Treasurer and Secretary (Principal Executive Officer and Principal Financial Officer, assessed the effectiveness of our internal control over financial reporting based on the criteria for effective internal control over financial reporting established in Internal Control--Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") in 2013 and SEC guidance on conducting such assessments. Based on that evaluation, we believe that, during the period covered by this report, such internal controls and procedures were not effective to detect the inappropriate application of US GAAP rules as more fully described below. This was due to deficiencies that existed in the design or operation of our internal controls over financial reporting that adversely affected our internal controls and that may be considered to be material weaknesses.

The matters involving internal controls and procedures that our management considered to be material weaknesses under the standards of the Public Company Accounting Oversight Board were: (1) lack of a functioning audit committee and a lack of independent directors on our Board, resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures; (2) inadequate segregation of duties consistent with control objectives; and (3) ineffective controls over period end financial disclosure and reporting processes. The aforementioned material weaknesses were identified by Mr. Lazar, Chief Executive Officer, Treasurer and Secretary (Principal Executive Officer and Principal Financial Officer) in connection with the review of our financial statements as of December 31, 2022.

Management believes that the material weaknesses set forth in items (2) and (3) above did not have an effect on our financial results. However, management believes that the lack of a functioning audit committee and the lack of independent directors on our Board results in ineffective oversight in the establishment and monitoring of required internal controls and procedures, which could result in a material misstatement in our financial statements in future periods.

**Management's Remediation Initiatives**

In an effort to remediate the identified material weaknesses and other deficiencies and enhance our internal controls, we have initiated, or plan to initiate, the following series of measures:

Assuming we are able to secure additional working capital, we will create a position to segregate duties consistent with control objectives and will increase our personnel resources and technical accounting expertise within the accounting function when funds are available to us.

We also plan to appoint one or more outside directors to our Board who shall be appointed to an audit committee resulting in a fully functioning audit committee which will undertake the oversight in the establishment and monitoring of required internal controls and procedures such as reviewing and approving estimates and assumptions made by management.

Management believes that the appointment of one or more independent directors, who shall be appointed to a fully functioning audit committee, will remedy the lack of a functioning audit committee and a lack of a majority of independent directors on our Board.

We anticipate that these initiatives will be implemented in conjunction with the growth of our business.

**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 December 31, 2022, that occurred during our fourth quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

**ITEM 9B. OTHER INFORMATION**

None.

**ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS**

None.

**PART III**

**ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE**

**Officers and Directors**

Our officers are elected by the Board to a term of one (1) year and serve until their successor is duly elected and qualified, or until they are removed from office. The Board has no nominating, auditing or compensation committees.

The name, address, age and position of our officers and directors are set forth below:

---

| | | | |
|:---|:---|:---|:---|
| **NAME AND ADDRESS** | **AGE** | **POSITION(S)** | **DATE OF APPOINTMENT** |
| David Lazar | 32 | Chief Executive Officer, Treasurer, Secretary and Director | July 2020 |

---

**Business Experience**

David Lazar, 32, has been CEO and Chairman of the Company since July, 2020. Mr. Lazar has been a partner at Zenith Partners International since 2013, where he specializes in research and development, sales and marketing. From 2014 through 2015, David was the Chief Executive Officer of Dico, Inc., which was then sold to Peekay Boutiques. Since February of 2018, Mr. Lazar has been the managing member of Custodian Ventures LLC, where he specializes in assisting distressed public companies. Since March 2018, David has acted as the managing member of Activist Investing LLC, which specializes in active investing in distressed public companies. David has a diverse knowledge of financial, legal and operations management; public company management, accounting, audit preparation, due diligence reviews and SEC regulations.

**Board Committees**

The Board has no standing committees.

**Family Relationships**

Rachel Martinuik and Nick Martinuik are married.

**Involvement in Certain Legal Proceedings**

No executive officer or director of ours has been involved in the last ten years in any of the following:

● Any bankruptcy petition filed by or against any business or property of such person, or of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time;

● Any conviction in a criminal proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);

● Being subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities;

● Being found by a court of competent jurisdiction (in a civil action), the SEC or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated;

● Being the subject of or a party to any judicial or administrative order, judgment, decree or finding, not subsequently reversed, suspended or vacated relating to an alleged violation of any federal or state securities or commodities law or regulation, or 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 any law or regulation prohibiting mail, fraud, wire fraud or fraud in connection with any business entity; or

● Being 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, any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

**Compliance with Section 16(a) of the Exchange Act**

Section 16(a) of the Securities and Exchange Act of 1934 requires the Company's directors and executive officers, and persons who own beneficially more than ten percent (10%) of the Company's Common Stock, to file reports of ownership and changes of ownership with the Securities and Exchange Commission. Copies of all filed reports are required to be furnished to the Company pursuant to Section 16(a). Upon review, the Company noted that none of our current officers and director has filed reports required to be filed under Section 16(a).

**Code of Ethics and Business of Conduct.**

We currently do not have a code of ethics and business of conduct policy.

**ITEM 11. EXECUTIVE COMPENSATION**

The following table shows for the period ended December 31, 2022 and 2021, the compensation awarded (earned) or paid by the Company to its named executive officer or the person acting in a similar capacity as that term is defined in Item 402(a)(2) of Regulation S-K. There are no understandings or agreements regarding compensation that our management will receive after a business combination that is required to be included in this table, or otherwise.

**Summary Compensation Table**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name and Principal Position(1)** | **Year** | **Salary<br> ($)** | **Bonus<br> ($)** | **Stock**<br> **Awards<br> ($)** | **Option<br> Awards<br> ($)** | **Non-Equity Incentive Plan Compensation<br> ($)** | **Change in Pension Value and Nonqualified Deferred Compensation Earnings<br> ($)** | **All Other<br> Compensation**<br> **($)** |
| David Lazar<br> *Chief Executive Officer, Secretary,* | 2022 | – |  | – |  | – |  | – |
| *Treasurer and Director* | 2021 | – |  | – |  | – |  | – |

---

**Compensation of Directors**

Our director is not compensated by us for acting as such. There are no arrangements pursuant to which our sole director is or will be compensated in the future for any services provided as a director.

**Employment Contracts, Termination of Employment, Change-in-Control Arrangements**

We currently have 25 employees, both two of whom are officers and directors of ADOB and MySpray. The other 3 employees are under contractwith MySpray. They include two therapists and an officer manager. The therapists are paid per patient and therapy, have a thirty day mutual termination notice requirement and a one-year non-compete clause. Our office manager is paid an annual salary with a thirty day mutual termination notice requirement.

There are no compensation plans or arrangements, including payments to be made by us, with respect to David Lazar, ____, or ____ that would result from the resignation, retirement or any other termination.

There are no arrangements for officers, employees or consultants that would result from a change-in-control.

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

The following table sets forth, as of the date of March 1, 2023, the total number of shares owned beneficially by our sole officer and director, and key employees, individually and as a group, and the present owners of 5% or more of our total outstanding shares. The table also reflects what his ownership will be assuming completion of the sale of all shares in this offering. 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 of March 1, 2023, through the exercise of any stock option or other right. Unless otherwise noted, 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. As of March 1, 2023 there were 644,889,500 shares outstanding.

---

| | | |
|:---|:---|:---|
| **Name** | **Number of**<br> **Shares of Common**<br> **Stock** | **Percentage** |
| David Lazar (1) | 49000000 | 7.60% |
| Nichol Martinuik (2) | 227500000 | 35.27% |
| Rachel Martinuik (3) | 227500000 | 35.27% |
| Qatar Consulting Inc. & Company (4) | 69000000 | 10.70% |
| Broadway Creative Consultants Corp. (5) | 69000000 | 10.70% |
| All executives officers, directors, and beneficial ownership thereof as a group (1 person) | 49000000 | 7.6% |
| There are no other officers, directors or 5 % shareholders. |  |  |

---

(1) His
mailing address is 234 E. Beech St. Long Beach, New York 11561. The shares are held by Activist Investing LLC, of which, Mr. Lazar is
the managing member.

(2) His
mailing address is 125 Railway Avenue East, Canora, Saskatchewan, Canada, S0A0L0.

(3) Her
mailing address is 125 Railway Avenue East, Canora, Saskatchewan, Canada, S0A0L0.

(4) Control
person is Ismail Abdul Fattah. The mailing address is 1105, 510 6th Avenue SE, Calgary Alberta T2G 1L7.

(5) Control
Person is Bailey Fischl. The mailing address is 628-6<sup>th</sup> Street East, Saskatoon, Saskatchewan, Canada S7H1C2.

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

Except as disclosed below, since the beginning of the fiscal year preceding the last fiscal year none of the following persons has had any direct or indirect material interest in any transaction to which our Company was or is a party, or in any proposed transaction to which our Company proposes to be a party:

● any Director or officer of our Company;

● any proposed Director of officer of our Company;

● any person who beneficially owns, directly or indirectly, shares carrying more than 5 percent of the voting rights attached to our Common Stock; or

● any member of the immediate family of any of the foregoing persons (including a spouse, parents, children, siblings, and in-laws).

During the years ended December 31, 2022 and 2021, related party transactions were as follows:

**Director Independence**

We are not subject to listing requirements of any national securities exchange or national securities association and, as a result, we are not at this time required to have our Board comprised of a majority of "Independent Directors." We believe that our director currently does not meet the definition of "independent" as promulgated by the rules and regulations of NASDAQ.

**ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES**

**Audit Fees**

The aggregate fees billed since incorporation for professional services rendered by the principal accountant for the audit of our financial statements and review of financial statements included in our quarterly Reports on Form 10-Q and services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for these fiscal periods were as follows:

---

| | | |
|:---|:---|:---|
| **Fee Category** | **Year Ended**<br> **December 31,**<br> **2022** | **Year Ended**<br> **December 31,**<br> **2021** |
| Audit fees (1): | $63000 | 14400 |
| Total fees | $63000 | 14400 |

---

(1) Audit
 fees consist of fees incurred for professional services rendered for the audit of financial statements, for reviews of our interim
 financial statements included in our quarterly reports on Form 10-Q, and for services that are normally provided in connection with
 statutory or regulatory filings or engagements.

**Audit Committee Pre-Approval of Audit and Permissible Non-Audit Services of Independent Auditors**

Given the small size of our Board as well as the limited activities of our Company, our Board acts as our Audit Committee. Our Board pre-approves all audit and permissible non-audit services. These services may include audit services, audit-related services, tax services, and other services. Our Board approves these services on a case-by-case basis.

**PART IV**

**ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES**

---

| | |
|:---|:---|
| **FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021** |  |
| [Report of Independent Registered Public Accounting Firm](#aa_01) | F-2 |
| [Balance Sheets](#b_001) | F-3 |
| [Statements of Operations](#b_002) | F-4 |
| [Statements of Changes in Stockholders' Equity](#b_003) | F-5 |
| [Statements of Cash Flows](#b_004) | F-6 |
| [Notes to Financial Statements](#b_005) | F-7 |

---

**Report of Independent Registered Public Accounting Firm**

To the shareholders and the board of directors of Soul Biotechnology Corporation

**Opinion on the Financial Statements**

We have audited the accompanying consolidated balance sheets of Soul Biotechnology Corporation as of December 31, 2022 and 2021, the related statements of operations, stockholders' equity (deficit), and cash flows for the years then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2022 and 2021, and the results of its operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States.

**Substantial Doubt about the Company's Ability to Continue as a Going Concern**

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 suffered recurring losses from operations and has a significant accumulated deficit. In addition, the Company continues to experience negative cash flows from operations. These factors raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 3. 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 audit. We are a public accounting firm registered with the Public 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 audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit 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 audit 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 audit 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 audit 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 audit provides a reasonable basis for our opinion.

**Critical Audit Matter**

Critical audit matters are matters arising from the current-period audit of the financial statements that were communicated or required to be communicated to the audit committee and that (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments.

We determined that there are no critical audit matters.

**/S/ BF Borgers CPA PC (PCAOB ID 5041)**

We have served as the Company's auditor since 2021

Lakewood, CO

March 10, 2023

**SOUL BIOTECHNOLOGY CORPORATION**

**Consolidated Balance Sheets**

---

| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2022** | **December 31,**<br>**2021** |
| Current assets |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $41808 | $9499 |
| &nbsp;&nbsp;&nbsp;Accounts receivable | 1344 |  |
| &nbsp;&nbsp;&nbsp;Inventory | 35281 |  |
| &nbsp;&nbsp;&nbsp;Prepaid and other assets | 1179 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 79612 | 9499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 512196 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangible assets | 88923 | - |
| Total assets | $680731 | $9499 |
| **Liabilities and Stockholders' Deficit** |  |  |
| Current Liabilities |  |  |
| &nbsp;&nbsp;&nbsp;Accrued payable and accrued liabilities | $42953 | $428 |
| &nbsp;&nbsp;&nbsp;Common stock payable | 843878 |  |
| &nbsp;&nbsp;&nbsp;Due to related parties | 227704 | 142752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 1114535 | 143180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government loans | 29532 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1144067 | 143180 |
| Stockholders' Deficit |  |  |
| &nbsp;&nbsp;&nbsp;Common stock, Par Value $0.001, 700,000,000shares authorized, 75,000,000and 23,889,500shares issued and outstanding of shares as of December 31, 2022 and December 31, 2021, respectively | 75000 | 23890 |
| &nbsp;&nbsp;&nbsp;Additional paid in capital | 25740 | 25740 |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (525881) | (183311) |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (38195) | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' deficit | (463336) | (133681) |
| Total liabilities and stockholders' deficit | $680731 | $9499 |

---

The accompanying notes are an integral part of these financial statements

**SOUL BIOTECHNOLOGY CORPORATION**

**Consolidated Statements of Operations**

---

| | | |
|:---|:---|:---|
|  | **For the<br> Year Ended** | **For the<br> Year Ended** |
|  | **December 31,** | **December 31,** |
|  | **2022** | **2021** |
| **Revenue, net** |  |  |
| &nbsp;&nbsp;&nbsp;Revenue, net | $296597 | $81 |
| &nbsp;&nbsp;&nbsp;Cost of sales | 70784 | - |
| &nbsp;&nbsp;&nbsp;Gross margin | 225813 | 81 |
| **Operating expenses** |  |  |
| &nbsp;&nbsp;&nbsp;General and administrative expenses | 251652 | 18540 |
| &nbsp;&nbsp;&nbsp;Professional fees | 274253 | 27360 |
| &nbsp;&nbsp;&nbsp;Amortization of intangible assets | 40764 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 566668 | 45900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss from Operations | (340855) | (45819) |
| **Other income (expense)** |  |  |
| &nbsp;&nbsp;&nbsp;Interest income (expense) | (1715) | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other income (expenses), net | (1715) | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss from operations before income taxes | (342570) | (45798) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income tax expense | - | - |
| **Net Loss** | $(342570) | $(45798) |
| Basic and diluted loss per share | $(0.00) | $(0.00) |
| Weighted average number of shares outstanding | 69258821 | 23889500 |
| Comprehensive loss: |  |  |
| Net loss | $(342570) | $(45798) |
| Foreign currency translation adjustment | (38195) | - |
| Comprehensive loss | $(380765) | $(45798) |

---

The accompanying notes are an integral part of these financial statements

**SOUL BIOTECHNOLOGY CORPORATION**

**Consolidated Statements of Changes in Shareholders' Deficit**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | | | |
|  | **Shares** | **Value** | **Additional<br> Paid-in**<br>**Capital** | **Accumulated<br> Other Comprehensive**<br>**Income** | **Accumulated**<br>**Deficit** | **Total<br> Stockholders'**<br>**Deficit** |
| Balance, December 31, 2020 | 23889500 | $23890 | $25740 | $&nbsp;&nbsp;&nbsp;&nbsp; - | $(137513) | $(87883) |
| Net loss |  | **-** | **-** | - | (45798) | (45798) |
| Balance, December 31, 2021 | 23889500 | $23890 | $25740 | $- | $(183311) | $(133681) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | | | |
|  | **Shares** | **Value** | **Additional<br> Paid-in**<br>**Capital** | **Accumulated<br> Other<br> Comprehensive**<br>**Income** | **Accumulated**<br>**Deficit** | **Total<br> Stockholders'**<br>**Deficit** |
| Balance, December 31, 2021 | 23889500 | $23890 | $25740 | - | $(183311) | $(133681) |
| Shares issued with acquisition of MySpray | 51110500 | 51110 |  |  |  | 51110 |
| Change in exchange rates |  |  |  | (38195) |  | (38195) |
| Net loss |  |  |  |  | (342570) | (342570) |
| Balance, December 31, 2022 | 75000000 | $75000 | $25740 | $(38195) | $(525881) | $(463336) |

---

The accompanying notes are an integral part of these financial statements

**SOUL BIOTECHNOLOGY CORPORATION**

**Consolidated Statements of Cash Flows**

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **For the<br> Nine Months Ended** | **For the<br> Nine Months Ended** |
|  | **September 30,** | **September 30,** |
|  | **2022** | **2021** |
| **Cash Flows From Operating Activities** |  |  |
| &nbsp;&nbsp;&nbsp;Net loss | $(342570) | $(45798) |
| &nbsp;&nbsp;&nbsp;Amortization of intangible assets | 40764 |  |
| &nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| **Changes in operating assets and liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;Accounts receivable |  |  |
| &nbsp;&nbsp;&nbsp;Inventory | 14748 |  |
| &nbsp;&nbsp;&nbsp;Common stock payable | 77125 |  |
| &nbsp;&nbsp;&nbsp;Accrued payable and accrued liabilities | 10769 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | (199165) | (45798) |
| **Cash Flows from Investing Activities** |  |  |
| &nbsp;&nbsp;&nbsp;Acquisition of a business net of cash acquired | 19981 | - |
| &nbsp;&nbsp;&nbsp;Net cash (used in) provided by investing activities | 19981 |  |
| **Cash Flows From Financing Activities** |  |  |
| &nbsp;&nbsp;&nbsp;Common stock payable | 196864 |  |
| &nbsp;&nbsp;&nbsp;Proceeds from related party loans, net of repayments | 12821 | 41704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by financing activities | 209685 | 41704 |
| Effect of exchange rates on cash and cash equivalents | 1807 |  |
| Net (decrease) increase in cash and cash equivalents | 32308 | (4094) |
| Cash and cash equivalents, beginning of year | 9499 | 13593 |
| Cash and cash equivalents, end of year | $41808 | $9499 |
| **Supplemental disclosure of cash flow information** |  |  |
| &nbsp;&nbsp;&nbsp;Cash paid for income tax expense | $- | $- |
| &nbsp;&nbsp;&nbsp;Cash paid for interest expense | $- | $- |

---

The accompanying notes are an integral part of these financial statements

**SOUL BIOTECHNOLOGY COPRORATION**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS** 

**NOTE 1 – ORGANIZATION AND DESCRIPTION OF THE BUSINESS**

*Basis of Presentation and Organization*

Soul Biotechnology Corporation ("Soul", or the "Company") was incorporated under the laws of the State of Nevada on October 18, 2017 as Adorbs Inc. The Company changed its name to Soul Biotechnology Corporation on January 3, 2023.

Former management was comprised of two people, Rebecca Jill Lazar, Chief Executive Officer; and Michael Lazar, Chief Financial Officer. Due to the development stage of the Company, Ms. Lazar spent part of her time toward the everyday operations and forward movement of the corporation. Ms. Lazar's responsibilities included acting as the Company's creative designer as well as determining the overall design direction of the company and its marketing strategy. Ms. Lazar cultivated relationships with children's clothing stores and manufacturers and spent the time necessary to oversee the product development, manufacturing, sales, and marketing campaigns, website design, and direct the primary operations of the business.

On January 19, 2018, the Company filed a Form S-1 for registration of securities under the Securities Act of 1933. The S-1 was declared effective on March 14, 2018, and at that time the Company became a fully reporting public company. The Company filed its first Form 10-Q on May 10, 2018, for the period ended March 31, 2018, and subsequently filed all required reports until through the period ended March 31, 2019. On July 1, 2019, the Company filed a Form 15 to terminate its registration. Despite her best efforts, Ms. Lazar determined during the three months ended June 30, 2020, that the Company's business plan was no longer viable. Subsequently, during July 2020, Ms. Lazar and her husband Michael Lazar resigned their positions executive positions with the Company and gifted their majority shareholdings for no consideration to Activist Investing LLC, an entity controlled by Michael Lazar's brother, David Lazar. These shares were gifted in return for David Lazar's commitment to provide funding to the Company going forward and for his expertise in managing and directing distressed companies.

Activist Investing LLC received 11,000,000 shares from Ms. Lazar, and 10,000,000 shares from Michael Lazar for a total of 21,000,000 shares. Based upon 23,889,500 shares outstanding, this effectively gave David Lazar 87.9% ownership of the Company. Concurrently with the change of control, David Lazar was appointed as CEO and Director and is currently the only employee, officer, and director of the Company. As a result of these transactions, the Company become a "blank check" company.

On June 22, 2020, the Company dismissed Michael Gillespie & Associates, PLLC "Gillespie") as its independent registered public accounting firm who had performed the audit of the Company's 2018 financial statements for the year ended December 31, 2018. Gillespie's report on the Company's financial statements for the year ended December 31, 2018, did not contain any adverse opinions or disclaimers of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles, except that such reports included explanatory paragraphs with respect to the Company's ability to continue as a going concern. During the year ended December 31, 2018, and through June 21, 2020, there were no (a) disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K) with Gillespie on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to satisfaction, would have caused Gillespie to make reference to the subject matter thereof in connection with its reports for the period ended 2018 or (b) reportable events, as described under Item 304(a)(1)(v) of Regulation S-K.

On June 22 2020, the Company appointed AJSH & Co. LLP, a PCOAB registered firm as its independent registered accounting firm who performed the Company's audit for the period ended December 31, 2019 and has reviewed its financial statements for the three and nine-month period ended September 30, 2021.

On December 29, 2020, the Company's Registration Statement on Form 10-12G was declared effective.

On February 10, 2022, Soul Inc. ("ADOB," or the "Company") entered into a share exchange agreement (the "Share Exchange Agreement") with MySpray Therapeutics Inc. ("MySpray"), an Saskatchewan, Canadian corporation, Nichol Martinuik ("Martinuik") and Rachel Martinuik ("R. Martinuik"), the sole officers, directors, and shareholders of MySpray, Qatar Consulting Inc. & Company ("Qatar"), Broadway Creative Consultants Corp. ("Broadway"), and David Lazar ("Lazar"), as the sole officer and director of ADOB and the managing member of Activist Investing LLC. Under the Share Exchange Agreement, One Hundred Percent (100%) of the ownership interest of MySpray was exchanged for (i) 51,110,500 shares of common stock of the Company at the Closing, and (ii) an additional 593,779,000 shares of common stock of ADOB, issued upon the increase in authorized shares of common stock of ADOB to 700,000,000, each of which is to be issued to Martinuik, R. Martinuik, Qatar, Broadway, and Activist, pro-rata, in accordance with the Share Exchange Agreement. The former stockholders of MySpray acquired a majority of the issued and outstanding common stock as a result of the share exchange transaction. The transaction has been accounted for as a recapitalization of the Company, whereby MySpray is the accounting acquirer.

On April 26, 2022, Adorbs Inc. (the "Company") terminated its engagement with AJSH & Co LLP ("AJSH"), the Registrant's prior independent registered public accounting firm, and thereafter provided AJSH with its disclosures in the Current Report on Form 8-K disclosing the termination of the engagement of AJSH and requested in writing that AJSH furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not they agree with such disclosures. AJSH's response is filed as an exhibit to this Current Report on Form 8-K.

The auditor reports by AJSH contained in the financial statements of the Company for the years ended December 31, 2021 and 2020, filed as part of the annual reports on Form 10-K for the years ended December 31, 2021 and 2020, did not contain an adverse opinion or disclaimer of opinion or were qualified or modified as to uncertainty, audit scope or accounting principles, other than to state that there is substantial doubt as to the Company's ability to continue as a going concern. There had been no disagreements with AJSH on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure during the fiscal years ended December 31, 2021 and 2020, nor in the subsequent periods through April 26, 2022.

On April 26, 2022, the Board of Directors of the Company engaged BF Borgers CPA PC ("Borgers") as its independent accountant to provide auditing services for going forward for the Company. The Company has terminated the engagement of AJSH. The decision to hire Borgers was approved by the Company's Board of Directors.

The Company's year-end is December 31.

All figures presented in this report are in US dollars unless stated otherwise.

**NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING ASSUMPTIONS AND POLICIES**

*<u>Basis of presentation</u>*

The accompanying consolidated financial statements have been prepared in accordance with the FASB's ASC, which is the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in conformity with generally accepted accounting principles ("GAAP") in the United States. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary MySpray Therapeutics Inc. All intercompany accounts and transactions are eliminated in consolidation.

*<u>Going Concern</u>*

The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these consolidated financial statements.

The Company expects to generate operating cash flow that will be sufficient to fund presently anticipated operations although there can be no assurance. This raises substantial doubt about the Company's ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing to supplement expected cash flow. Historically, the Company has raised capital through private placements, as an interim measure to finance working capital needs and may continue to raise additional capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to do so until its operations become profitable.

The Company may attempt to raise capital in the near future through the sale of equity or debt financing; however, there can be assurances the Company will be successful in doing so. There can be no assurance that such additional financing will be available to the Company on acceptable terms or at all.

*<u>Estimates</u>*

The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these consolidated financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates.

*<u>Cash and Cash Equivalents</u>*

For purposes of reporting within the statements of cash flows, the Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents. As of December 31, 2022, and December 31, 2021, the on-hand cash balances were $41,808 and $9,499, respectively.

*<u>Inventory</u>*

Inventory, is stated at the lower of cost or net realizable value with cost determined under the first-in, first-out ("FIFO") method. As of December 31, 2022, and December 31, 2021, inventory amounted to $35,281 and $-0-, respectively

*<u>Goodwill and Intangible Assets</u>*

Goodwill represents the future economic benefit arising from other assets acquired that could not be individually identified and separately recognized. The goodwill arising from the Company's acquisition is attributable to the value of the potential expanded market opportunity with new customers. Intangible assets have either an identifiable or indefinite useful life. Intangible assets with identifiable useful lives are amortized on a straight-line basis over their economic or legal life, whichever is shorter. The Company's amortizable intangible assets consist primarily of customer relationships, trademarks and product formulations. The useful life of these customer relationships is estimated to be three years.

Goodwill is not amortized but is subject to annual impairment testing unless circumstances dictate more frequent assessments. The Company performs an annual impairment assessment for goodwill during the fourth quarter of each year and more frequently whenever events or changes in circumstances indicate that the fair value of the asset may be less than the carrying amount. Goodwill impairment testing compares the fair value of the reporting unit to its carrying amount. The fair value of the reporting unit is determined by considering both the income approach and market approaches. The fair values calculated under the income approach and market approaches are weighted based on circumstances surrounding the reporting unit. Under the income approach, the Company determines fair value based on estimated future cash flows of the reporting unit, which are discounted to the present value using discount factors that consider the timing and risk of cash flows. For the discount rate, the Company relies on the capital asset pricing model approach, which includes an assessment of the risk-free interest rate, the rate of return from publicly traded stocks, the Company's risk relative to the overall market, the Company's size and industry and other Company-specific risks. Other significant assumptions used in the income approach include the terminal value, growth rates, future capital expenditures, and changes in future working capital requirements. The market approaches use key multiples from guideline businesses that are comparable and are traded on a public market. If the fair value of the reporting unit is greater than its carrying amount, there is no impairment. If the reporting unit's carrying amount exceeds its fair value, then an impairment loss is recognized in an amount equal to the excess.

*<u>Revenue Recognition</u>*

The Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") No. 2014-09, *Revenue from Contracts with Customers (Topic 606)* outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The guidance provided in Accounting Standards Codification ("ASC") Topic 606 ("ASC 606") requires entities to use a five-step model to recognize revenue by allocating the consideration from contracts to performance obligations on a relative standalone selling price basis. Revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. The standard also requires new disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. ASC 606 also includes Subtopic 340-40, *Other Assets and Deferred Costs – Contracts with Customers*, which requires the deferral of incremental costs of obtaining a contract with a customer.

*<u>Foreign Currency Translation</u>*

The functional and reporting currency of MySpray is the Canadian dollar. Monetary assets denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Average monthly rates are used to translate revenues and expenses.

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Exchange gains or losses arising from foreign currency transactions are included in the determination of net income for the respective periods.

Assets and liabilities of the Company's operations are translated into the reporting currency, United States dollars, at the exchange rate in effect at the balance sheet dates. Revenue and expenses are translated at average rates in effect during the reporting periods

Assets and liabilities of the Company's operations are translated into the reporting currency, United States dollars, at the exchange rate in effect at the balance sheet dates. Revenue and expenses are translated at average rates in effect during the reporting periods. Equity transactions are recorded at the historical rate when the transaction occurred. The resulting translation adjustment is reflected as accumulated other comprehensive income, a separate component of stockholders' equity in the statement of stockholders' equity.

Differences may arise in the amount of bad debt expense, depreciation expense and amortization expense reported in the Company's operating results as compared to the corresponding change in the allowance for doubtful accounts, accumulated depreciation, and accumulated amortization, respectively, due to foreign currency translation. These translation adjustments are reflected in accumulated other comprehensive income, a separate component of the Company's stockholders' equity.

*<u>Long-lived assets</u>*

The Company accounts for its long-lived assets in accordance with Financial Accounting Standard Board ("FASB") ASC 360-10, "Property, Plant and Equipment" which requires that long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the historical cost carrying value of an asset may no longer be appropriate. The Company assesses the recoverability of the carrying value of an asset by estimating the future net cash flows expected to result from the asset, including eventual disposition. If the future net cash flows are less than the carrying value of the asset, an impairment loss is recorded equal to the difference between the asset's carrying value and fair value or disposal value.

*<u>Income Taxes</u>*

The Company accounts for income taxes pursuant to FASB ASC Topic 740, Income Taxes. Under FASB ASC Topic 740, deferred tax assets and liabilities are determined based on temporary differences between the bases of certain assets and liabilities for income tax and financial reporting purposes. The deferred tax assets and liabilities are classified according to the financial statement classification of the assets and liabilities generating the differences. The Company maintains a 100% valuation allowance with respect to deferred tax assets, therefore there are no deferred taxes on the Company's Balance Sheet. The Company establishes a valuation allowance based upon the potential likelihood of realizing the deferred tax asset and taking into consideration the Company's financial position and results of operations for the current period. Future realization of the deferred tax benefit depends on the existence of sufficient taxable income within the carry-forward period under the Federal tax laws. Changes in circumstances, such as the Company generating taxable income, could cause a change in judgment about the reliability of the related deferred tax asset. Any change in the valuation allowance will be included in income in the year of the change in estimate.

*<u>Fair Value Measurement</u>*

The Company values its convertible notes and amounts due to related partings and short-term loans payable under FASB ASC 820 which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement).

The three levels of the fair value hierarchy are as follows:

Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities, and listed equities.

Level 2 – Valuations for assets and liabilities that can be obtained from readily available pricing sources via independent providers for market transactions involving similar assets or liabilities. The Company's principal markets for these securities are the secondary institutional markets, and valuations are based on observable market data in those markets.

Level 3 – Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management's best estimate of fair value. The Company uses Level 3 to value its derivative instruments.

*<u>Employee Stock-Based Compensation</u>*

The Company accounts for stock-based compensation in accordance with ASC 718 Compensation-Stock Compensation ("ASC 718"). ASC 718 addresses all forms of share-based payment ("SBP") awards including shares issued under employee stock purchase plans and stock incentive shares. Under ASC 718 awards result in a cost that is measured at fair value on the awards' grant date, based on the estimated number of awards that are expected to vest, and will result in a charge to operations.

*<u>Net Loss per Share</u>*

Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, "Earnings per Share." Basic earnings per common share ("EPS") calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding.

*<u>Subsequent Event</u>*

The Company evaluated subsequent events through the date when consolidated financial statements are issued for disclosure consideration.

*<u>Recent Accounting Pronouncements</u>*

There are no recent accounting pronouncements that have an impact on the Company's operations

**NOTE 3 – GOING CONCERN**

The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these consolidated financial statements. The Company has incurred significant operating losses since its inception. As of December 31, 2022, the Company had a working capital deficit of $1,034,923 and an accumulated deficit of $525,881.

The Company expects to generate operating cash flows that will be sufficient to fund presently anticipated operations although there can be no assurance. This raises substantial doubt about the Company's ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing to supplement expected cash flow. Historically, the Company has raised capital through private placements, as an interim measure to finance working capital needs and may continue to raise additional capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to do so until its operations become profitable.

The Company may attempt to raise capital in the near future through the sale of equity or debt financing; however, there can be assurances the Company will be successful in doing so. There can be no assurance that such additional financing will be available to the Company on acceptable terms or at all.

**NOTE 4 – BUSINESS ACQUISITION**

On February 10, 2022, the Company entered into a share exchange agreement (the "Share Exchange Agreement") with MySpray Therapeutics Inc. ("MySpray"), a Saskatchewan, Canadian corporation, Nichol Martinuik ("Martinuik") and Rachel Martinuik ("R. Martinuik"), the sole officers, directors, and shareholders of MySpray, Qatar Consulting Inc. & Company ("Qatar"), Broadway Creative Consultants Corp. ("Broadway"), and David Lazar ("Lazar"), as the sole officer and director of the Company and the managing member of Activist Investing LLC ("Activist"). Under the Share Exchange Agreement, One Hundred Percent (100%) of the ownership interest of MySpray was exchanged for (i) 51,110,500 shares of common stock of the Company at the Closing, and (ii) an additional 569,889,500 shares of common stock of ADOB, issued upon the increase in authorized shares of common stock of ADOB to 700,000,000, each of which is to be issued to Martinuik, R. Martinuik, Qatar, Broadway, and Activist, pro-rata, in accordance with the Share Exchange Agreement. As of the date of this Report, none of the 569,889,500 shares had been issued. The former stockholders of MySpray acquired a majority of the issued and outstanding common stock as a result of the share exchange transaction. The transaction has been accounted for as a recapitalization of the Company, whereby MySpray is the accounting acquirer.

For the acquisition of MySpray the following table summarizes the acquisition date fair value of the consideration paid, identifiable assets acquired and liabilities assumed:

**Consideration paid**

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| | |
|:---|:---|
| Common stock, 621,000,000 shares of the Company restricted common stock valued at $0.001 per share | $621000 |
| Net liabilities assumed | 62777 |
| Fair value of total consideration paid | $683777 |

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**Net assets acquired and liabilities assumed**

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| | |
|:---|:---|
| Cash and cash equivalents | $30542 |
| Accounts receivable | 595 |
| Inventory | 53431 |
| Other assets | 1409 |
| &nbsp;&nbsp;&nbsp;Total assets | $85977 |
| Accounts payable and accrued liabilities | 117214 |
| Government of Canada loan | 31540 |
| &nbsp;&nbsp;&nbsp;Total liabilities | 148754 |
| Net liabilities assumed | $62777 |

---

The Company has allocated the fair value of the total consideration paid of $547,022 to goodwill and $136,755 to intangible assets with a life of three years. The value of goodwill represents MySpray's ability to generate profitable operations going forward. Management estimated the provisional fair values of the intangible assets and goodwill at February 10, 2022.

**NOTE 5 – INTANGIBLE ASSETS**

As of December 31, 2022, the balance of intangible assets was $88,923. During the year ended December 31, 2022, the Company recorded $40,764 in amortization expense. As discussed in Note 4, the intangible assets have been valued based on provisional estimates of fair value and are subject to change as the Company completes its valuation assessment by the completion of the one-year measurement period. Amortization for the following fiscal years is estimated to be: 2023 - $42,682; and 2024 - $42,682, 2025 -$3,559.

**NOTE 6 – RELATED PARTY TRANSACTIONS**

The Company has been funded by its executive officers, and officers of its subsidiary. As of December 31, 2022, the balance due to executive officers and a former officer amounted to $227,704 in the form of interest-free demand loans compared to $142,752 during the period ended December 31, 2021. During the year ended December 31, 2022, the Company's officers have advanced $12,821, to the Company.

Additionally, an officer of MySpray owns the laboratory building that the Company occupies. He rents this facility to MySpray based on a verbal, month-to-month agreement. MySpray pays approximately $26,000 annually in rent. The Company believes that this rent expense is reasonable and comparable to the rent that would be charged to a third party.

**NOTE 7 – COMMON STOCK AND COMMON STOCK PAYABLE**

On May 5, 2022, the Company filed a Certificate of Amendment with the state of Nevada increasing its authorized shares from 75,000,000 to 700,000,000shares of $0.001par value common stock. As of December 31, 2022, and December 31, 2021, a total of 75,000,000 and 23,889,500shares of common stock were issued and outstanding, respectively.

As of the date of this report, the Company had numerous shares issuable as part of the February 10, 2022 Share Exchange and for private placements accepted from investors during the year ended December 31, 2022. Since the Company has delayed issuing these shares the associated value of the shares has been recorded as a liability on the Company's, Balance sheet. As of December 31, 2022 and December 31, 2021 the balance of Common Stock Payable was $843,878 and $-0-, respectively.

The amount of $843,878 is comprised of the following elements:

● 569,889,500 shares are issuable pursuant to the terms of the share Exchange Agreement. These shares were valued at a par value of $0.001 , or $569,889

● During the three months ended June 30, 2022 the Company raised $194,544 , net, from sale of 21,000,000 shares to seven investors at average sale price of these shares was $0.017618 Cad per share, and the repurchase of 24,000,000 shares at an average price of $.00431 Cad.

● 6,000,000 shares are issuable to a consultant valued at $0.012854 per share valued at $77,125 . The share price of $0.012854 is equivalent to the average purchase price of the Company's recently completed private placements and repurchase of shares noted above.

None of the above-mentioned shares have been issued or retired as of December 31, 2022.

**NOTE 8 – SUBSEQUENT EVENTS**

In accordance with the Statement of Financial Accounting Standards ("SFAS") 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the consolidated financial statements were available to be issued and has determined that it does not have any material subsequent events to disclose in these consolidated financial statements except as follows:

Subsequent to December 31, 2022 the Company issued 569,889,500 shares related to the Share Exchange Agreement -see Note 7. Common Stock and Common Stock Payable. These shares were valued at a par value of $0.001, or $569,889.

The following exhibits are included as part of this report:

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 21.1\* | [List of Subsidiaries](soulbiotech_ex21-1.htm) |
| 31.1/ 31.2 \* | [Certification of Principal Executive Officer and Principal Accounting and Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act and Rule 13a-14(A) or 15d-14(A) under the Securities Exchange Act of 1934](soulbiotech_ex31-1.htm) |
| 32.1/ 32.2 \* | [Certification of Principal Executive Officer and Principal Accounting and Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002](soulbiotech_ex32-1.htm) |
| 101\* | Inline XBRL Document Set for the financial statements and accompanying notes in Part II, Item 8, "Financial Statements and Supplementary Data" of this Annual Report on Form 10-K. |
| 104\* | Inline XBRL for the cover page of this Annual Report on Form 10-K, included in the Exhibit 101 Inline XBRL Document Set. |

---

\* filed herewith

**ITEM 16. FORM 10-K SUMMARY**

None.

**SIGNATURES**

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

---

| | | |
|:---|:---|:---|
|  | **SOUL BIOTECHNOLOGY CORPORATION** | **SOUL BIOTECHNOLOGY CORPORATION** |
| Dated: March 13, 2023 | By: | */s/ David Lazar* |
|  | Name: | David Lazar |
|  | Title: | Chief Executive Officer, Treasurer and Secretary |

---

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

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| */s/ David Lazar* | Chief Executive Officer, Treasurer, Secretary and Director | March 13, 2023 |
| David Lazar | (Principal Executive Officer, Principal<br> Accounting and Financial Officer) |  |

---

## Exhibit 21.1

**EXHIBIT 21.1**

MySpray Therapeutics Inc.

## Exhibit 31.1

**EXHIBIT 31.1/31.2**

**CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER**

**AND PRINCIPAL ACCOUNTING AND FINANCIAL OFFICER**

**PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT AND RULE 13A-14(A)**

**OR 15D-14(A) UNDER THE SECURITIES EXCHANGE ACT OF 1934**

I, David Lazar, certify that:

1. I
 have reviewed this Annual Report on Form 10-K of Soul Biotechnology Corporation;

2. Based
 on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
 to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to
 the period covered by this report;

3. Based
 on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material
 respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in
 this report;

4. I
 am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and
 15d-15(e)) for the registrant and have;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed
 such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision,
 to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others
 within those entities, particularly during the period in which this report is being prepared;

(b) Designed
 such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our
 supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
 for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated
 the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about
 the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;
 and

(d) Disclosed
 in this report any change in the registrant's internal control over financial reporting that occurred during the most recent
 quarter (the registrant's fourth quarter) covered by this report that has materially affected, or is reasonably likely to materially
 affect, the registrant's internal control over financial reporting; and

5. I
 have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors
 and the audit committee of registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;(a) All
 significant deficiencies and material weakness in the design or operation of internal control over financial reporting which are
 reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information;
 and

(b) Any
 fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's
 internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: March 13, 2023 | By: | /s/ *David Lazar* |
|  |  | David Lazar |
|  |  | Chief Executive Officer, Treasurer and Secretary<br> (Principal Executive Officer, Principal<br> Accounting and Financial Officer)<br>|

---

****<br>

## Exhibit 32.1

**EXHIBIT 32.1/32.2**

**CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER AND PRINCIPAL**

**ACCOUNTING AND FINANCIAL OFFICER**

**PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the Annual Report on Form 10-K of Soul Biotechnology Corporation (the "Company") for the year ended December 31, 2022, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, David Lazar, Chief Executive Officer, Treasurer and Secretary of the Company, certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that;

&nbsp;&nbsp;&nbsp;&nbsp;(1) The
 Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The
 information contained in the Report fairly presents, in all material respects, the financial condition and results of operations
 of the Company.

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

---

| | | |
|:---|:---|:---|
| Date: March 13, 2023 | By: | */s/ David Lazar* |
|  |  | David Lazar |
|  |  | Chief Executive Officer, Treasurer and Secretary<br> (Principal Executive Officer and Principal<br> Accounting and Financial Officer)<br>|

---