# EDGAR Filing Document

**Accession Number:** 0001456802
**File Stem:** 0001477932-23-000287
**Filing Date:** 2023-1
**Character Count:** 103516
**Document Hash:** 3ea37d56a75ca97dc35e059ffb786ea7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001477932-23-000287.hdr.sgml**: 20230113

**ACCESSION NUMBER**: 0001477932-23-000287

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 46

**CONFORMED PERIOD OF REPORT**: 20220531

**FILED AS OF DATE**: 20230113

**DATE AS OF CHANGE**: 20230113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Century Cobalt Corp.
- **CENTRAL INDEX KEY:** 0001456802
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE [6500]
- **IRS NUMBER:** 980579157
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-54327
- **FILM NUMBER:** 23529533

**BUSINESS ADDRESS:**
- **STREET 1:** 10100 SANTA MONICA BLVD
- **STREET 2:** SUITE 300
- **CITY:** CENTURY CITY
- **STATE:** CA
- **ZIP:** 90067
- **BUSINESS PHONE:** 310-772-2209

**MAIL ADDRESS:**
- **STREET 1:** 10100 SANTA MONICA BLVD
- **STREET 2:** SUITE 300
- **CITY:** CENTURY CITY
- **STATE:** CA
- **ZIP:** 90067

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First American Silver Corp.
- **DATE OF NAME CHANGE:** 20100615

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Mayetok Inc.
- **DATE OF NAME CHANGE:** 20090223

?xml version="1.0" encoding="utf-8"?ccob_10q.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-Q**

(Mark One)

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

For the quarterly period ended **<u>May 31, 2022</u>**

Or

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

For the transition period from ________________to ________________

Commission File Number **<u>000-54327</u>**

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| |
|:---|
| **CENTURY COBALT CORP.** |
| (Exact name of registrant as specified in its charter) |

---

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| | |
|:---|:---|
| **Nevada** | **98-0579157** |
| (State or other jurisdiction of<br>incorporation or organization) | (I.R.S. Employer<br>Identification No.) |
| **10100 Santa Monica Blvd., Suite 300,**<br>**Century City, Los Angeles, CA** | **90067** |
| (Address of principal executive offices) | (Zip Code) |

---

**<u>(310) 772-2209</u>**

(Registrant's telephone number, including area code)

_____________________________________________________________

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

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

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of exchange on which registered** |
| Common Stock | CCOB | OTC Pink |
| Preferred Stock | N/A | N/A |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☐ No ☒

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 "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):

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| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Non-accelerated Filer | ☒ |
| 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 is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

**APPLICABLE ONLY TO CORPORATE ISSUERS**

As of January 13, 2023, there were 104,361,576 shares of common stock outstanding.

**TABLE OF CONTENTS**

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| | | |
|:---|:---|:---|
| PART I - FINANCIAL INFORMATION | PART I - FINANCIAL INFORMATION |  |
| [Item 1.](#i1) | [Financial Statements](#i1) | 4 |
| [Item 2.](#i2) | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#i2) | 16 |
| [Item 3.](#i3) | [Quantitative and Qualitative Disclosures About Market Risk](#i3) | 18 |
| [Item 4.](#i4) | [Controls and Procedures](#i4) | 18 |
| [PART II - OTHER INFORMATION](#p2) | [PART II - OTHER INFORMATION](#p2) |  |
| [Item 1.](#p2i1) | [Legal Proceedings](#p2i1) | 19 |
| [Item 1A.](#p2i1a) | [Risk Factors](#p2i1a) | 19 |
| [Item 2.](#p2i2) | [Unregistered Sales of Equity Securities and Use of Proceeds](#p2i2) | 19 |
| [Item 3.](#p2i3) | [Defaults Upon Senior Securities](#p2i3) | 19 |
| [Item 4.](#p2i4) | [Mine Safety Disclosures](#p2i4) | 19 |
| [Item 5.](#p2i5) | [Other Information](#p2i5) | 19 |
| [Item 6.](#exhibit) | [Exhibits](#exhibit) | 20 |
| [SIGNATURES](#sig) | [SIGNATURES](#sig) | 21 |

---

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|:---|
| 2 |
| *[**Table of Contents**](#TOC)* |

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**CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS**

This report includes forward-looking statements that relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Words such as, but not limited to, "believe," "expect," "anticipate," "estimate," "intend," "plan," "targets," "likely," "aim," "will," "would," "could," and similar expressions or phrases identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and future events and financial trends that we believe may affect our financial condition, results of operation, business strategy and financial needs. Forward-looking statements include, but are not limited to, statements about risks associated with:

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| | |
|:---|:---|
| Risks related to our business, including: | Risks related to our business, including: |
| ·  | we have a history of losses; |
| ·  | our auditors have raised substantial doubts about our ability to continue as a going concern; |
| ·  | we have a working capital deficit and need to raise additional capital to continue our business model; |
| ·  | the adverse impact of COVID-19 on our company; and |
| ·  | our reliance on our sole officer and director. |
| Risks related to regulation applicable to our industry, including: | Risks related to regulation applicable to our industry, including: |
| ·  | compliance with existing laws and regulations and possible future changes in laws and regulations; and |
| ·  | any failure to protect personal data; |
| Risks related to the ownership of our securities, including: | Risks related to the ownership of our securities, including: |
| ·  | the applicability of penny stock rules; and |
| ·  | material weaknesses in our internal control over financial reporting; and |

---

You should read thoroughly this report and the documents that we refer to herein with the understanding that our actual future results may be materially different from and/or worse than what we expect. We qualify all of our forward-looking statements by these cautionary statements including those made in Part I. Item 1A. Risk Factors appearing in our Annual Report on Form 10-K for the fiscal year ended November 30, 2021 as filed with the Securities and Exchange Commission (the "SEC") on March 16, 2022 and our other filings with the SEC. New risk factors emerge from time to time and it is not possible for our management to predict all risk factors, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Except for our ongoing obligations to disclose material information under the Federal securities laws, we undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events. These forward-looking statements speak only as of the date of this report, and you should not rely on these statements without also considering the risks and uncertainties associated with these statements and our business.

All references in this report to the "Company", "Century Cobalt", "we", "us," or "our" are to Century Cobalt Corp., a Nevada corporation and our wholly owned subsidiary Century Cobalt Limited., a United Kingdom public company.

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|:---|
| 3 |
| *[**Table of Contents**](#TOC)* |

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| | | |
|:---|:---|:---|
| **CENTURY COBALT CORP.**  | **CENTURY COBALT CORP.**  | **CENTURY COBALT CORP.**  |
| CONSOLIDATED BALANCE SHEETS (Unaudited) | CONSOLIDATED BALANCE SHEETS (Unaudited) | CONSOLIDATED BALANCE SHEETS (Unaudited) |
|  | **May 31,**<br>**2022** | **November 30,**<br>**2021** |
| **Assets** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash | $87593 | $26654 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses | 6886 | - |
| Total current assets | 94479 | 26654 |
| Other assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity method investment | - | 132623 |
| Total other assets | - | 132623 |
| **Total Assets** | $94479 | $159277 |
| **Liabilities and Stockholders' Equity (Deficit)** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $207119 | $178567 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable - related parties | 231602 | 289085 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest | 220563 | 192484 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest - related parties | 20381 | 16727 |
| &nbsp;&nbsp;&nbsp;&nbsp;Due to related party | 39341 | 60823 |
| &nbsp;&nbsp;&nbsp;&nbsp;Notes payable - current portion, net of debt issue cost of $31,832 and $-0- as of May 31, 2022 and November 30, 2021, respectively | 764243 | 422075 |
| &nbsp;&nbsp;&nbsp;&nbsp;Notes payable to related parties | 183800 | 396063 |
| &nbsp;&nbsp;&nbsp;&nbsp;Convertible notes payable | 127260 | 134280 |
| Total current liabilities | 1794309 | 1690104 |
| Commitments and contingencies | - | - |
| Stockholders' equity (deficit): |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock, $0.001 par value; 20,000,000 shares authorized, -0- preferred stock shares issued and outstanding as of May 31, 2022 and November 30, 2021 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock, $0.001 par value, 3,500,000,000 shares authorized, 104,361,576 issued and outstanding as of May 31, 2022 and November 30, 2021 | 104362 | 104362 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 3014969 | 3014969 |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock payable | 100130 | 97960 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (4919291) | (4748118) |
| Total stockholders' equity (deficit) | (1699830) | (1530827) |
| **Total Liabilities and Stockholders' equity (deficit)**  | $94479 | $159277 |

---

The accompanying notes are an integral part of these financial statements.**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** 

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|:---|
| 4 |
| *[**Table of Contents**](#TOC)* |

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| | | | | |
|:---|:---|:---|:---|:---|
| **CENTURY COBALT CORP.**  | **CENTURY COBALT CORP.**  | **CENTURY COBALT CORP.**  | **CENTURY COBALT CORP.**  | **CENTURY COBALT CORP.**  |
| CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) | CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) | CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) | CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) | CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) |
|  | **For the Three Months Ended** | **For the Three Months Ended** | **For the Six Months Ended** | **For the Six Months Ended** |
|  | **May 31,**<br>**2022** | **May 31,**<br>**2021** | **May 31,**<br>**2022** | **May 31,**<br>**2021** |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounting and legal | $15514 | $13715 | $32915 | $32627 |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfer agent and filing fees  | 3013 | 2976 | 4442 | 4674 |
| &nbsp;&nbsp;&nbsp;&nbsp;Consulting | 55023 | 79875 | 100023 | 160367 |
| &nbsp;&nbsp;&nbsp;&nbsp;Exploration |  | 58273 |  | 89010 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 11162 | 10742 | 14398 | 21393 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 84712 | 165581 | 151778 | 308071 |
| Net operating income (loss) | (84712) | (165581) | (151778) | (308071) |
| Other income (expense): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (32918) | (20048) | (52969) | (54672) |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain (loss) on foreign currency transactions | 21809 | (9622) | 17566 | (14552) |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain from equity method investment | 148631 |  | 16008 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Other income (expense) | 137522 | (29670) | (19395) | (69224) |
| Net income (loss) | $52810 | $(195251) | $(171173) | $(377295) |
| Basic income (loss) per share | $0.00 | $(0.00) | $(0.00) | $(0.00) |
| Diluted income per share | $0.00 | $N/A | $N/A | $N/A |
| Weighted average number of common shares outstanding - basic and diluted | 104361576 | 81385854 | 104361576 | 80236660 |
| Weighted average number of common shares outstanding - diluted | 107274489 | N/A | N/A | N/A |

---

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

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|:---|
| 5 |
| *[**Table of Contents**](#TOC)* |

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **CENTURY COBALT CORP.**  | **CENTURY COBALT CORP.**  | **CENTURY COBALT CORP.**  | **CENTURY COBALT CORP.**  | **CENTURY COBALT CORP.**  | **CENTURY COBALT CORP.**  | **CENTURY COBALT CORP.**  | **CENTURY COBALT CORP.**  | **CENTURY COBALT CORP.**  |
| CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - Unaudited | CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - Unaudited | CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - Unaudited | CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - Unaudited | CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - Unaudited | CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - Unaudited | CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - Unaudited | CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - Unaudited | CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - Unaudited |
|  | **Common Stock** | **Common Stock** | **Preferred Stock** | **Preferred Stock** |  |  |  |  |
|  |  |  |  |  | **Additional**<br>**Paid-In** | **Common Stock**  | **Accumulated**  | **Total**<br>**Stockholders'** |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Capital** | **Payable** | **Deficit** | **Deficiency** |
| **For the Six Months Ended May 31, 2021** |  |  |  |  |  |  |  |  |
| Balance at November 30, 2020 | 79061929 | $79062 |  | $- | $2270384 | $368578 | $(3870933) | $(1152909) |
| Issuance of common stock to settle accounts payable | 176966 | 177 |  |  | 5132 |  |  | 5309 |
| Issuance of common stock for stock subscription | 3086855 | 3087 |  |  | 102329 | (105416) |  |  |
| Shares issued for services | 4750000 | 4750 |  |  | 191775 | (156100) |  | 40425 |
| Stock based compensation and settle accounts payable |  |  |  |  |  | 8335 |  | 8335 |
| Net loss |  |  |  |  |  |  | (377295) | (377295) |
| Balance at May 31, 2021 | 87075750 | $87076 |  | $- | $2569620 | $115397 | $(4248228) | $(1476135) |
| **For the Three Months Ended May 31, 2021** |  |  |  |  |  |  |  |  |
| Balance at February 28, 2021 | 79061929 | $79062 |  | $- | $2270384 | $373693 | $(4052977) | $(1329838) |
| Issuance of common stock to settle accounts payable | 176966 | 177 |  |  | 5132 |  |  | 5309 |
| Issuance of common stock for stock subscription | 3086855 | 3087 |  |  | 102329 | (105416) |  |  |
| Shares issued for services | 4750000 | 4750 |  |  | 191775 | (156100) |  | 40425 |
| Stock based compensation and settle accounts payable |  |  |  |  |  | 3220 |  | 3220 |
| Net loss | - | - |  | - | - | - | (195251) | (195251) |
| Balance at May 31, 2021 | 87075750 | $87076 |  | $- | $2569620 | $115397 | (4248228) | $(1476135) |
| **For the Six Months Ended May 31, 2022** |  |  |  |  |  |  |  |  |
| Balance at November 30, 2021 | 104361576 | $104362 |  | $- | $3014969 | $97960 | $(4748118) | $(1530827) |
| Stock based compensation |  |  |  |  |  | 2170 |  | 2170 |
| Net loss | - | - |  | - | - | - | (171173) | (171173) |
| Balance at May 31, 2022 | 104361576 | $104362 |  | $- | $3014969 | $100130 | $(4919291) | $(1699830) |
| **For the Three Months Ended May 31, 2022** |  |  |  |  |  |  |  |  |
| Balance at February 28, 2022 | 104361576 | $104362 |  | $- | $3014969 | $97960 | $(4972101) | $(1754810) |
| Stock based compensation |  |  |  |  |  | 2170 |  | 2170 |
| Net income | - | - |  | - | - | - | 52810 | 52810 |
| Balance at May 31, 2022 | 104361576 | $104362 |  | $- | $3014969 | $100130 | (4919291) | $(1699830) |

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

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| 6 |
| *[**Table of Contents**](#TOC)* |

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| | | |
|:---|:---|:---|
| **CENTURY COBALT CORP.**  | **CENTURY COBALT CORP.**  | **CENTURY COBALT CORP.**  |
| CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) | CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) | CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) |
|  | **For the Six Months Ended** | **For the Six Months Ended** |
|  | **May 31,**<br>**2022** | **May 31,**<br>**2021** |
| Cash flows from operating activities: |  |  |
| Net income (loss) | $(171173) | $(377295) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock based compensation | 2170 | 46510 |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt discount interest |  | 8114 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss from equity method investment | (16008) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt issue cost amortization | 3868 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Gain) Loss on foreign currency transactions | (17566) | 14512 |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses | (6886) | 61474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 21434 | 15972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable expenses - related parties | (57483) | 43898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses | 39235 | 29119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses - related parties | 4401 | 17439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due to related parties | (21482) | - |
| Net cash used in operating activities | (219490) | (140257) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales of equity investment | 148631 | - |
| Net cash used in investing activities | 148631 | - |
| Cash flows from financing activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from notes payable | 340000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from notes payable to related parties |  | 122704 |
| &nbsp;&nbsp;&nbsp;&nbsp;Repayment of notes payable to related parties | (198880) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Repayment of notes payable interest | (9322) | - |
| Net cash provided by financing activities | 131798 | 122704 |
| Net increase (decrease) in cash | 60939 | (17553) |
| Cash - beginning of the year | 26654 | 19482 |
| Cash - end of the year | $87593 | $1929 |
| Supplemental disclosures: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest paid | $9322 | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes | $- | $- |
| Supplemental disclosure for non-cash financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of common stock to settle accounts payable | $- | $5309 |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of common stock for stock subscription | $- | $105416 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

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| 7 |
| *[**Table of Contents**](#TOC)* |

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**CENTURY COBALT CORP.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**MAY 31, 2022**

**(Unaudited)**

**NOTE 1 - NATURE OF OPERATIONS**

Century Cobalt Corp. (formerly First American Silver Corp.) was incorporated in the state of Nevada on April 29, 2008. The Company's principal office is located at 10100 Santa Monica Boulevard, Suite 300, Century City, California 90067. The Company's principal business activity is the identification and exploration of mineral properties for the purposes of discovering economical cobalt assets.

**NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES**

**Basis of Presentation**

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars.

These consolidated financial statements comprise the accounts of the Company and its wholly owned subsidiary Century Cobalt Limited ("CCL"), a United Kingdom public company. CCL was formed to hold the equity investment with Technology Metals, PLC, a related party. All intercompany balance between the Company and CCL are eliminated in consolidation. Also included within the accompanying financial statements are the Company's unconsolidated equity investment with Technology Metals, PLC, a related party, which is accounted for under the equity method of accounting. See *Note 4 - Emperium Sale and Equity Method Investment* for a further discussion.

**Accounting Basis**

The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America ("GAAP" accounting). The Company has adopted a November 30 fiscal year end.

**Risks and Uncertainties**

The Company's operations are subject to significant risk and uncertainties including financial, operational, technological, and regulatory risks including the potential risk of business failure. See Note 3 regarding going concern matters.

**Cash and Cash Equivalents**

The Company considers all highly liquid investments with maturities of three months or less to be cash equivalents. At May 31, 2022 and November 30, 2021, respectively, the Company had $87,593 and $26,654 of unrestricted cash to be used for future business operations.

The Company's bank accounts are deposited in insured institutions. The funds are insured up to $250,000. At times, the Company's bank deposits may exceed the insured amount. Management believes it has little risk related to the excess deposits.

**Prepaid Expenses**

The Company considers all items incurred for future services to be prepaid expenses. At May 31, 2022 and November 30, 2021, respectively, the Company's prepaid balance was $6,886 and $-0- consisting of prepaid interest on a note payable.

**Equity Method for Investments**

The equity method is an accounting technique used by the Company to record the profits earned or losses through its investment in another company. With the equity method of accounting, the Company reports the income or loss by the other company on its income statement, in an amount proportional to the percentage of its equity investment in the other company. The equity method is used to value a company's investment in another company when it holds significant influence over the company it is investing in. The threshold for "significant influence" is commonly a 20-50% ownership. Under the equity method, the investment is initially recorded at historical cost, and adjustments are made to the value based on the investor's percentage ownership in net income, loss, and dividend payouts. Net income of the investee company increases the Company's value on the balance sheet, while the investee's loss or dividend payout decreases it.

**Fair Value of Financial Instruments**

Fair value of certain of the Company's financial instruments including cash, prepaid expenses, accounts payable, accrued expenses, notes payable, and other accrued liabilities approximate cost because of their short maturities. The Company measures and reports fair value in accordance with ASC 820, "Fair Value Measurements and Disclosure" defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles and expands disclosures about fair value investments.

Fair value, as defined in ASC 820, 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. The fair value of an asset should reflect its highest and best use by market participants, principal (or most advantageous) markets, and an in-use or an in-exchange valuation premise. The fair value of a liability should reflect the risk of nonperformance, which includes, among other things, the Company's credit risk.

Valuation techniques are generally classified into three categories: the market approach; the income approach; and the cost approach. The selection and application of one or more of the techniques may require significant judgment and are primarily dependent upon the characteristics of the asset or liability, and the quality and availability of inputs. Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820 also provides fair value hierarchy for inputs and resulting measurement as follows:

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Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities.

Level 2: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities; and

Level 3: Unobservable inputs for the asset or liability that are supported by little or no market activity, and that are significant to the fair values.

Fair value measurements are required to be disclosed by the Level within the fair value hierarchy in which the fair value measurements in their entirety fall. Fair value measurements using significant unobservable inputs (in Level 3 measurements) are subject to expanded disclosure requirements including a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings, and a description of where those gains or losses included in earning are reported in the statement of income. All assets and liabilities of the Company approximate fair value.

**Valuation of Long-Lived and Intangible Assets**

We assess the impairment of long-lived assets periodically, or at least annually, and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors considered important, which could trigger an impairment review, include the following: significant underperformance relative to historical or projected future cash flows; significant changes in the manner of use of the assets or the strategy of the overall business; and significant negative industry trends. When management determines that the carrying value of long-lived and intangible assets may not be recoverable, impairment is measured as the excess of the assets' carrying value over the estimated fair value. Management is not aware of any impairment changes that may currently be required; however, we cannot predict the occurrence of events that might adversely affect the reported values in the future.

**Concentrations of Credit Risk**

The Company maintains its cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. The Company continually monitors its banking relationships and consequently has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents.

**Stock-Based Compensation**

The Company accounts for share-based compensation in accordance with the fair value recognition provisions of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") No. 718. The scope of Topic 718, Compensation-Stock Compensation, includes share-based payments issued to employees and nonemployees for goods and services. The Company issues restricted stock to employees and consultants for their services. Cost for these transactions are measured at the fair value of the equity instruments issued at the date of grant. These shares are considered fully vested and the fair market value is recognized as expense in the period granted. The Company recognized consulting expenses and a corresponding increase to additional paid-in-capital related to stock issued for services. For agreements requiring future services, the consulting expense is to be recognized ratably over the requisite service period.

Total stock-based compensation amounted to $2,170 and $43,645 for the three months ended May 31, 2022 and 2021, respectively, and $2,170 and $46,510 for the six months ended May 31, 2022 and 2021, respectively.

**Income Taxes**

The Company's policy is to provide for deferred income taxes based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates that will be in effect when the differences are expected to reverse. The U.S. Tax Cuts and Jobs Act (TCJA) legislation reduces the U.S. federal corporate income tax rate from 35.0% to 21.0% and is effective June 22, 2018 for the Company. We did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. When it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit. We provided a full valuation allowance on the net deferred tax asset, consisting of net operating loss carryforwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carryforward period.

The Company is not aware of any uncertain tax position that, if challenged, would have a material effect on the financial statements for the six months ended May 31, 2022, or during the prior three years applicable under FASB ASC 740. We did not recognize any adjustment to the liability for uncertain tax position and therefore did not record any adjustment to the beginning balance of accumulated deficit on the consolidated balance sheet. The Company is in the process of filing all unfiled tax returns. All tax returns for the Company remain open for examination.

**Use of Estimates**

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

**Revenue Recognition**

Revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration that an entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation.

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Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company's performance obligations are transferred to customers at a point in time, typically upon delivery.

**Basic Income (Loss) Per Share**

Basic income (loss) per share is calculated by dividing the Company's net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company's net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. The convertible debt to common shares and unissued stock earned could potentially amount to approximately 2,888,000 additional shares issued by the Company. The Company's convertible notes, and unissued shares are included from the computation of diluted earnings per share for the three months ended May 31, 2022 due to the reported net income. The Company's convertible notes, and unissued shares are excluded from the computation of diluted earnings per share as they are anti-dilutive due to the Company's losses for the three months ended May 31, 2022 and 2021 and the nine months ended May 31, 2021.

**Foreign Currency Translation**

The functional and presentation currency of the Company is the U.S. dollar. Transactions denominated in a currency other than the functional currency are recorded on the initial recognition at the exchange rate at the date of the transaction. Assets and liabilities that are not denominated in the functional currency are remeasured into the functional currency with any related gain or loss recorded in earnings. The Company translates assets and liabilities of its non-U.S. dollar functional currency foreign transactions into the U.S. dollar reporting currency at exchange rates in effect at the balance sheet date. The Company translates income and expense items of such foreign transactions into the U.S. dollar reporting currency at the exchange rate on the date of the transaction.

**Recent Accounting Pronouncements**

In August 2020, the FASB issued ASU 2020-06**,** Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40)-Accounting for Convertible Instruments and Contracts in an Entity's Own Equity. ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock. For convertible instruments with conversion features that are not required to be accounted for as derivatives under Topic 815, *Derivatives and Hedging*, or that do not result in substantial premiums accounted for as paid-in capital, the embedded conversion features no longer are separated from the host contract. ASU 2020-06 also removes certain conditions that should be considered in the derivatives scope exception evaluation under Subtopic 815-40, *Derivatives and Hedging-Contracts in Entity's Own Equity*, and clarify the scope and certain requirements under Subtopic 815-40. In addition, ASU 2020-06 improves the guidance related to the disclosures and earnings-per-share (EPS) for convertible instruments and contract in entity's own equity. ASU 2020-06 is effective for public business entities that meet the definition of a Securities and Exchange Commission (SEC) filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Board specified that an entity should adopt the guidance as of the beginning of its annual fiscal year. The Company is currently evaluation the impact this ASU will have on its consolidated financial statements.

Management believes recently no other issued accounting pronouncements will have an impact on the financial statements of the Company.

**Mineral Properties**

Costs of exploration are expensed as incurred. Mineral property acquisition costs are capitalized including licenses and lease payments. Although the Company has taken steps to verify title to mineral properties in which it has an interest, these procedures do not guarantee the Company's title. Such properties may be subject to prior agreements or transfers and title may be affected by undetected defects.

Mineral properties are analyzed for impairment on an annual basis, or more often if warranted by circumstances. Impairment losses are recorded on mineral properties used in operations when indicators of impairment are present.

**Capitalization**

Only assets with a cost over $5,000 and a useful life of over 1 year are capitalized. All other costs are expensed in the period incurred.

**Reclassifications**

Certain prior year amounts have been reclassified for comparative purposes to conform to the current-year financial statement presentation. These reclassifications had no effect on previously reported results of operations.

**NOTE 3 - GOING CONCERN**

The accompanying financial statements have been prepared assuming that Century Cobalt Corp., Inc. will continue as a going concern. The Company has a working capital deficit, has not yet received revenue from sales of products or services, and has incurred losses from operations. These factors raise substantial doubt about the Company's ability to continue as a going concern. Without realization of additional debt or capital, it would be unlikely for the Company to continue as a going concern. The financial statements do not include any adjustments that might result from this uncertainty.

The Company's activities to date have been supported by debt and equity financing. It has sustained losses in all previous reporting periods with an inception to date loss of $4,919,291 as of May 31, 2022. Management continues to seek funding from its shareholders and other qualified investors.

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**NOTE 4 - SALE OF EMPERIUM AND EQUITY METHOD INVESTMENT**

On September 14, 2021, the Company signed a share purchase agreement to sell the assets of Emperium 1 Holdings Corp ("Emperium") and repay a related party receivable to Technology Minerals PLC ("TM PLC"), a related party. TM PLC became a UK public company during November 2021. During November 2021, the Company was issued 420,000,000 unregistered shares (0.001£ par value) of TM PLC common stock for the Company's Emperium assets and 50,000,000 unregistered shares (0.001£ par value) of TM PLC common stock to repay the related party receivable for an aggregate of 470,000,000 shares of TM PLC stock. On November 30, 2021 the Company's ownership interest in TM PLC was 38.8%. TM PLC was established as a holding company, which will own assets that focus on the circular economy, and on the security of the supply chain from metal discovery through to end-of-life use. The Company has accounted for its investment in TM PLC under the equity method of accounting since inception. Since TM PLC is a related party, the Company valued the investment at cost as follows:

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|  | **Total** |
| **Emperium resource property** | $248000 |
| **Related party receivable** | 70145 |
| **Total** | $318145 |

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The $70,415 related party receivable was attorney fees paid by the Company on behalf of TM PLC during the nine months ended November 30, 2021.

On May 31, 2022, the Company's ownership interest in TM PLC was 37.5%. The following table summarizes the results of operations of TM PLC for the three months ended May 31, 2022:

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|  | **May 31,**<br>**2022** |
| **Net Loss of TM PLC** | $1126577 |
| **Company equity loss from TM PLC** | $422121 |

---

During April and May 2022, the Company sold 4,375,000 shares of the TM PLC investment. The proceeds were $148,631 or $0.034 per share. At May 31, 2022, the Company owns 465,625,000 shares of TM PLC common stock. For the three and six months ended May 31, 2022, the Company reported income from the equity method and sale of shares of TM PLC stock of $148,631 and $16,008 in the accompanying statements of operations. Since the Company equity investment was reduced to $-0-, only $132,623 of the $422,121 loss from the TM PLC equity investment was posted in the accompanying statements of operations. The equity method investment was $-0- and $132,623 as of May 31, 2022 and November 30, 2021, respectively, in the accompanying consolidated balance sheets.

**NOTE 5 - NOTES PAYABLE**

<u>Notes payable consisted of the following at May 31, 2022:</u>

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|:---|:---|:---|:---|:---|
| **Date of Note** | **Principal Amount at Issuance ($)** | **Interest Rate** | **Maturity Date** | **Interest Accrued ($)** |
| October 20, 2016 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5000  | 8% | October 20, 2017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2245  |
| January 9, 2017 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9000  | 8% | January 9, 2018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3882  |
| April 24, 2017 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10000  | 8% | April 24, 2018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4083  |
| June 19, 2017 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7000  | 8% | June 19, 2018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2773  |
| September 18, 2017 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6000  | 8% | September 18, 2018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2256  |
| January 5, 2018 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10000  | 8% | January 5, 2019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3522  |
| April 17, 2018 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30000  | 8% | April 17, 2019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9897  |
| July 27, 2018 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31700  | 12% | July 27, 2019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14632  |
| August 15, 2018 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108000  | 12% | August 15, 2019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49177  |
| September 7, 2018 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15000  | 12% | July 31, 2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6717  |
| September 12, 2018 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20500  | 12% | August 15, 2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9146  |
| September 27, 2018 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10000  | 12% | July 31, 2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4411  |
| October 10, 2018 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42000  | 12% | July 31, 2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18351  |
| November 20, 2018 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7905  | 12% | July 31, 2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3348  |

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|:---|:---|:---|:---|:---|
| November 20, 2018 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7970  | 12% | July 31, 2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3374  |
| December 18, 2018 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25000  | 12% | July 31, 2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10356  |
| January 24, 2019 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42000  | 12% | August 15, 2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16888  |
| February 18, 2019 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20000  | 12% | February 18, 2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7878  |
| March 6, 2019 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10000  | 12% | August 15, 2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3885  |
| May 3, 2019 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25000  | 12% | July 31, 2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9238  |
| July 1, 2019 (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31500  | 10% | December 30, 2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10767  |
| July 15, 2019 (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31500  | 10% | December 30, 2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10646  |
| July 31, 2019 (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31500  | 10% | December 30, 2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10508  |
| September 3, 2019 (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18900  | 10% | December 30, 2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6129  |
| October 8, 2019 (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10080  | 10% | December 30, 2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3171  |
| November 6, 2019 (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3780  | 10% | December 30, 2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1160  |
| July 10, 2020 (1) (5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -  | 5% | June 18, 2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1169  |
| September 2, 2020 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12600  | 5% | June 18, 2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1097  |
| November 27, 2020 (1) (5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -  | 5% | June 18, 2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1390  |
| December 22, 2020 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18900  | 5% | June 18, 2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1362  |
| January 12, 2021 (1) (5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -  | 5% | June 18, 2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1692  |
| March 5, 2021 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31500  | 5% | June 18, 2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1954  |
| April 14, 2021 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37800  | 5% | June 18, 2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2138  |
| November 16, 2021 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63000  | 5% | November 16, 2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1701  |
| April 4, 2022 (6) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 374000  | 24% | March 30, 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grand Total | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1107135  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240944  |

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(1) The Company is not compliant with the repayment terms of the notes payable. There are no penalties associated with notes past the due date.

<u>Convertible notes payable:</u>

(2) On July 30, 2019, the Company entered into a convertible unsecured term loan facility of £200,000 ($253900) for funding working capital requirements. The promissory note has a maturity date of October 30, 2020, an interest rate of 10% and a conversion rate of $0.08 per share. After maturity, the interest rate increases to 8% above the Bank of England Base Rate. In addition, a 5% facility fee is added to the loan. The Company may draw the loan in installments of £25,000 ($31735) at any time on or after the date of this agreement. During the year ended November 30, 2019, the Company has drawn six installments against the loan facility for an aggregate of $130,633. The Company calculated the fair value of the beneficial conversion feature as the difference between the conversion price and the fair market value of the Company's common stock into on the date of issuance. The fair value of the conversion option in connection with the note on the date of issuance aggregated $12,654 and was recorded as debt discount. The debt discount was amortized through the term of the note. On October 19, 2020, the maturity date of the promissory note was extended to December 30, 2021. The unpaid balance including accrued interest was $169,641 and $172,301 at May 31, 2022 and November 30, 2021, respectively.

(3) On August 14, 2019, the Company entered into a convertible unsecured term loan facility of £200,000 ($241220) for funding working capital requirements. The promissory note has a maturity date of April 16, 2021, an interest rate of 10% and a conversion rate of $0.03 per share. After maturity, the interest rate increases to 8% above the Bank of England Base Rate. In addition, a 5% facility fee is added to the loan. The Company may draw the loan in installments at any time on or after the date of this agreement. During the year ended November 30, 2019, the Company has drawn two installments against the loan facility for an aggregate of $129,340. The Company calculated the fair value of the beneficial conversion feature as the difference between the conversion price and the fair market value of the Company's common stock into on the date of issuance. The fair value of the conversion option in connection with the note on the date of issuance aggregated $34,853 and was recorded as debt discount. The debt discount was amortized through the term of the note. During the three months ended May 31, 2020, the Company received a third installment for $2,050. The Company calculated the fair value of the beneficial conversion feature as the difference between the conversion price and the fair market value of the Company's common stock into on the date of issuance. The fair value of the conversion option in connection with the note on the date of issuance was $-0-. During the three months ended August 31, 2020, the Company received a third installment for $130,646. The Company calculated the fair value of the beneficial conversion feature as the difference between the conversion price and the fair market value of the Company's common stock into on the date of issuance. The fair value of the conversion option in connection with the note on the date of issuance was $-0-. On August 4, 2021, the holder converted $332,398 of principal and interest into 11,079,939 shares of the Company's common stock at $0.03 per share to fully satisfy the convertible promissory note.

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(4) On July 22, 2021, the Company entered into a long-term convertible promissory note of £50,000 ($68815) with a third-party for funding an option fee to acquire land and a cannabis license in Zimbabwe. The promissory note has a maturity date of January 23, 2023, an interest rate of 5%. The holder may convert any part or all of the outstanding principal and/or interest on this promissory note into shares of the Company's common stock dividing (i) any amount of part or all of the outstanding principal and/or interest on the note, by (ii) the 20-day VWAP of Company common stock prior to the date of conversion; provided, however, that the price of conversion shall not be less than $0.0001 per share. The Company calculated the fair value of the beneficial conversion feature as the difference between the conversion price and the fair market value of the Company's common stock into on the date of issuance. The fair value of the conversion option in connection with the note on the date of issuance was $68,815. The debt discount was amortized through the term of the note. During November 2021 it was determined the third-party did not fund the option fee to acquire land and a cannabis license in Zimbabwe and the note was cancelled with $-0- due from the Company. At November 30, 2021, the note and related discount was removed from the accounting records of the Company. As of May 31, 2022, the total loans - convertible amounted to $169,641 which includes $42,381 of accrued interest. The conversion price of the note was fixed and determinable on the date of issuance and as such in accordance with ASC Topic 815 "*Derivatives and Hedging*" ("ASC 815"), the embedded conversion option of the note was not considered a derivative liability. The beneficial conversion features of certain convertible notes are at a price below fair market value. The Company recorded interest expense on the debt discount of $2,705 and $8,114 for the three and six months ended May 31, 2021, respectively. 

<u>Notes payable:</u>

(5) During May 2022, the Company repaid the principal for three related related-party notes payable for $55,479. The repaid notes were dated July 10, 2020, November 27, 2020 and January 12, 2021. The unpaid accrued interest balance was $4,251 at May 31, 2022. 

(6) On March 30, 2022, the Company entered into a Loan Agreement with a third party for $340,000. The first drawdown was on April 4, 2022. The loan bears interest at 2% per month with a maturity date of March 30, 2023. The loan requires a $50,000 repayment of principal plus interest from 120 days and 240 days from the date of the first drawdown and the balance of principal and interest due must be repaid before 360 days of the first drawdown. As of May 31, 2022, there have been no repayments of principal. In addition, the Company transferred 12,878,787 shares of its investment in PLC common stock as collateral. The shares are held in the lender's brokerage account. The Loan required a loan arrangement fee of $34,000 added to the loan principal balance and a $1,700 finder's fee paid to an individual for an aggregate of $35,700. The $35,700 is consider debt issued cost and amortized over the term of the loan. For the three and six months ended May 31, 2022, the Company recorded interest expense on the debt issued costs of $3,868. As of May 31, 2022, the Company paid $16,208 of interest on the loan. The interest paid on the loan exceeded the interest due under the loan at May 31, 2022 by $6,886, which was recorded as a prepaid expense in the accompanying consolidated balance sheet. The unpaid principal balance was $374,000 at May 31, 2022. The unpaid balance net of debt issues cost of $31,832 was $342,168 at May 31, 2022. 

(7) During April and May 2022, the Company repaid the principal and interest on five related related-party notes payable for $170,348. The repaid notes were dated June 8, 2021, June 17, 2021 June 29, 2021, September 20, 2021 and October 29, 2021 for $148,865. The Company inadvertently overpaid the related party loans by $21,483. The overpayment has not been repaid at May 31, 2022 and is netted against due to related party in the accompanying consolidated balance sheet.

<u>Notes payable and convertible notes payable transactions during the six months ended May 31, 2022, consisted of the following:</u>

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| | |
|:---|:---|
| Balance, November 30, 2021 | $952418 |
| Borrowings | 374000 |
| Less repayments | (198879) |
| Less, foreign exchange adjustment | (20404) |
| Less debt issue cost  | (31832) |
| Balance, May 31, 2022 | $1075303 |

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<u>Notes payable and convertible notes payable transactions principal repayment schedule consisted of the following:</u>

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| | |
|:---|:---|
| Fiscal year ended November 30, 2022 | $701303 |
| Fiscal year ended November 30, 2023 | 374000 |
| Balance, May 31, 2022 | $1075303 |

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**NOTE 6 - RELATED PARTY TRANSACTIONS**

As of May 31, 2022, accounts payable and compensation owing to the Company's CEO was $231,602 (November 30, 2021: $289,085).

As of May 31, 2022, the Company owed $60,823 to the Company's CEO less a May 2022 $21,483 overpayment on related party notes payable for an aggregate of $39,341 (November 30, 2021: $60,823).

On May 31, 2022, notes payable owing to related parties was $183,800 (November 30, 2021: $396,063) and accrued interest owing to related parties was $20,381 (November 30, 2021: $16,727).

On September 11, 2018, the Company signed a Consulting Agreement for the Company's former Chief Operating Officer (COO) beginning August 1, 2018 through December 31, 2020. The COO resigned on December 1, 2020 and will serve the company in other capacities. On May 21, 2021, the former COO was compensated with 1,750,000 unregistered shares of the common stock valued at $40,425 or $0.0231 per share. On August 4, 2021, the former COO was compensated with 500,000 unregistered shares of the common stock valued at $10,000 or $0.02 per share.

On September 17, 2018, the Company signed a three-year Consulting Agreement for the Company's President. Effective June 1, 2018, the President is compensated $8,500 per month for an aggregate of $102,000 per year. Effective August 1, 2018, the President was compensated with 5,000,000 unregistered shares of the Company's common stock valued at $200,000 or $0.04 per share. In addition, on August 1 of each year for this agreement, the President will be compensated with 1,000,000 unregistered shares of the Company's common stock. On August 1, 2018, 1,000,000 unregistered shares of the Company's common stock were earned by the Company's President. The shares were valued at $40,000 or $0.04 share. On August 1, 2019, 1,000,000 unregistered shares of the Company's common stock were earned by the Company's President. The shares were valued at $97,500 or $0.975 share. Effective August 1, 2019, the President compensation was increased to $15,000 per month for an aggregate of $180,000 per year. On August 1, 2020, 1,000,000 unregistered shares of the Company's common stock were earned by the Company's President. The shares were valued at $18,600 or $0.0186 share. The agreement terminated on June 1, 2021, thereafter, the Company's CEO was compensated with $15,000 per month on a month-to-month basis. On August 4, 2021, the Company's CEO was compensated with 5,000,000 unregistered shares of the common stock valued at $100,000 or $0.02 per share. The non-stock compensation amounted to $45,000 and $90,000 for the three and six months ended May 31, 2022 and 2021.

**NOTE 7 - CAPITAL STOCK**

The Company has 20,000,000 preferred shares authorized at a par value of $0.001 per share. As of May 31, 2022, no rights have been assigned to the preferred shares and the rights will be established upon issuance. The Company values noncash issuance of Company common stock to executives, consultants and others based on the closing market price on the date earned.

As at May 31, 2022, the Company has 3,500,000,000 common shares authorized at a par value of $0.001 per share.

On August 1, 2018, the Company granted 1,000,000 unregistered common shares, at $0.04 per share, valued at $40,000, to the Company's president pursuant to a consulting agreement for annual share compensation. On March 18, 2021, the Company issued 1,000,000 unregistered shares of the Company's common stock to the Company's president.

On February 1, 2019, the Company granted 250,000 at $0.147 per share, valued at $36,750, unregistered common shares pursuant to a consulting agreement for the Company's former Chief Operating Officer (COO). As of May 31, 2022, the shares have not been issued to the former COO.

On April 1, 2019, the Company granted 163,132 at $0.1226 per share, valued at $20,000, unregistered common shares as per an option agreement to explore and evaluate the battery materials in South Dakota. As of May 31, 2022, the shares have not been issued to the individual.

On June 5, 2019, the Company entered into an agreement with a consultant to provide finance and accounting services to the Company. The Consultant is compensated with a combination of cash and unregistered shares of the Company's common stock. In addition, the consultant was granted 50,000 shares of the Company's common stock valued at $4,990 or 0.0998 per share. The consultant has earned 202,546 shares valued at $6,773 or $0.0334 per share for the nine months ended August 31, 2021 and 503,341 shares valued at $13,465 or $0.0268 per share, for an aggregate of 705,887 shares valued at $20,237 or $0.0287 per share. The 705,887 shares were issued to the consultant on August 11, 2021. As of May 31, 2022, the consultant earned an additional 59,179 shares valued at $1,715 or $0.0290 per share under the agreement.

On August 1, 2019, the Company granted 1,000,000 unregistered common shares, at $0.0975 per share, valued at $97,500, to the Company's president pursuant to a consulting agreement for annual share compensation. On March 18, 2021, the Company issued 1,000,000 unregistered shares of the Company's common stock to the Company's president.

On August 1, 2019, the Company granted 250,000 at $0.0975 per share, valued at $24,375, unregistered common shares for services to the Company for the Company's former Chief Operating Officer (COO). As of May 31, 2022, the shares have not been issued to the Company's former COO.

On December 23, 2019, the Company issued a stock subscription for 912,310 unregistered shares of the Company's common stock to an investor. The shares were valued at $45,616 or $0.05 per share. The subscription amount was funded on December 24, 2019. On May 21, 2021, the Company issued 912,310 unregistered shares of the Company's common stock to the investor. The Company used the proceeds for working capital.

On August 1, 2020, the Company granted 1,000,000 unregistered common shares, at $0.0186 per share, valued at $18,600, to the Company's president pursuant to a consulting agreement for annual share compensation. On March 21, 2021, the Company issued 1,000,000 unregistered shares of the Company's common stock to the Company's president.

On February 3, 2020, the Company issued a stock subscription for 2,174,545 unregistered shares of the Company's common stock to an investor. The shares were valued at $59,800 or $0.0275 per share. The subscription amount was funded on February 7, 2020. On May 21, 2021, the Company issued 2,174,545 unregistered shares of the Company's common stock to the investor. The Company used the proceeds for working capital.

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On January 11, 2021, the Company issued a stock subscription for 176,966 unregistered shares of the Company's common stock to pay a past due balance from one of the Company's vendors. The shares were valued at $5,309 or $0.03 per share. On April 19, 2021, the Company issued 176,966 unregistered shares of the Company's common stock to the vendor.

On May 21, 2021, the Company issued 1,750,000 unregistered shares of the Company's common stock to the Company's former COO. The shares were earned on May 21, 2021 as a bonus for services to the Company. The shares were valued at $40,425 or $0.0231 per share.

On August 4, 2021, the Company issued 500,000 unregistered shares of the Company's common stock to the Company's former COO as a bonus for services to the Company. The shares were valued at $10,000 or $0.02 per share.

On August 4, 2021, the Company issued 5,000,000 unregistered shares of the Company's common stock to the Company's CEO for services to the Company. The shares were valued at $100,000 or $0.02 per share.

On August 4, 2021, the Company issued 11,079,939 shares of the Company's common stock to convert $332,398 of principal and interest at $0.03 per share to fully satisfy the convertible promissory note dated August 14, 2019.

As of May 31, 2022, the Company had 104,361,576 (November 30, 2021: 104,361,576) common shares issued and outstanding.

**NOTE 8 - MATERIAL CONTRACTS**

The Company renewed a twelve-month lease agreement for office space ending on June 30, 2021 for $770 per month and an aggregate of $9,240 over the term of the lease. The lease terminated on June 1, 2021 and was not renewed. The Company settled the unpaid balance for $6,000 which resulted in $3,447 reversal of rent expense. The rent expense recognized was $2,635 and $4,944 for three six months ended May 31, 2021.

On September 14, 2019, the Company entered an agreement with a consultant as the Company's Business Development Director including such other management advisory services as may be reasonably requested by the Company. The agreement terminated on August 31, 2021 and was not renewed. The consultant was compensated with $4,000 a month beginning September 1, 2019. The consultant earned $12,000 and $24,000 for the three and six months ended May 31, 2021.

During May 2022, the Company signed a twelve-month operating lease for office space for $3,738 ($3,000 GBP) per month. The company has recorded rent expense of $3,738 for the three and six months ended May 31, 2022 under the agreement.

**NOTE 9 - SUBSEQUENT EVENTS**

On December 15, 2022, the Company sold 700,000 shares of the TM PLC investment. The proceeds were $11,873 or $0.017 per share.

On January 10, 2023, the Company sold 1,300,000 shares of the TM PLC investment. The proceeds were $23,111 or $0.0178 per share.

The Company has evaluated all events occurring subsequently to these financial statements through January 13, 2023 and determined there were no other items to disclose.

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**Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations**

**FORWARD LOOKING STATEMENTS**

The following discussion of our financial condition and results of operations for the three months ended May 31, 2022 and 2021 should be read in conjunction with the consolidated financial statements and the notes to those statements that are included elsewhere in this report. Our discussion includes forward-looking statements based upon current expectations that involve risks and uncertainties, such as our plans, objectives, expectations and intentions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements because of several factors, including those set forth under the Part I, Item 1A, Risk Factors and Business sections in our Annual Report on Form 10-K for the fiscal year ended November 30, 2021, as filed with the SEC on March 16, 2022, this report, and our other filings with the SEC. We use words such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "believe," "intend," "may," "will," "should," "could," and similar expressions to identify forward-looking statements. In addition, any statements that refer to projections of our future financial performance, our anticipated growth and trends in our businesses, and other characterizations of future events or circumstances are forward-looking statements. Such statements are based on our current expectations and could be affected by the uncertainties and risk factors described throughout this report.

**General Overview**

We were incorporated in the State of Nevada on April 29, 2008, under the name "Mayetok, Inc.". As Mayetok, Inc. we were engaged in the development of a website to market vacation properties in the Ukraine.

On June 8, 2010, we initiated a one (1) old for 35 new forward stock split of our issued and outstanding common stock. As a result, our authorized capital increased from 100,000,000 to 3,500,000,000 shares of common stock and the issued and outstanding increased from 2,200,000 shares of common stock to 77,000,000 shares of common stock, all with a par value of $0.001.

Also, on June 8, 2010, we changed our name from "Mayetok, Inc." to "First American Silver Corp.", by way of a merger with our wholly owned subsidiary First American Silver Corp., which was formed solely for the change of name. We changed the name of our company to reflect the new direction of our company in the business of acquiring, exploring and developing mineral properties. As of June 2010, we had abandoned our former business plan of seeking to market vacation properties.

Our name change and forward stock split became effective with the Over-the-Counter Bulletin Board at the opening of trading on June 16, 2010, on which date we adopted the new stock symbol "FASV".

On June 18, 2018, we changed our name from "First American Silver Corp." to "Century Cobalt Corp", by way of a merger with our wholly owned subsidiary Century Cobalt Corp., which was formed solely for the change of name. We changed the name of our company to reflect the new direction of our company in the business of acquiring, exploring and developing mineral properties. Our name change became effective with the Over-the-Counter Bulletin Board at the opening of trading on June 18, 2018, on which date we adopted the new stock symbol "CCOB"

**Our Current Business**

On August 7, 2018, we entered into an assignment agreement with Oriental Rainbow Group Ltd., in regards to the acquisition of certain mineral claims in Lemhi County, Idaho known as the "Idaho Cobalt Belt".

Oriental Rainbow and Plateau Ventures LLC had entered into a purchase agreement dated September 4, 2017, wherein Oriental Rainbow had acquired from Plateau a 100% interest in the property, subject to certain subsequent payments and conditions. The claims comprising the property (649 claims) initially totaled approximately 12,980 acres, subject to an option under the purchase agreement for the acquisition of additional claims. Such option had been exercised with additional claims acquired, resulting in a total of 695 claims comprising approximately 13,900 acres.

Oriental Rainbow has assigned its interest in the property to us in consideration for 2,500,000 restricted shares of common stock (the "Consideration Shares"). We have assumed all of Oriental Rainbow's obligations under the purchase agreement, which material obligations include: the issuance of up to 500,000 restricted shares of common stock to Plateau upon listing on a recognized stock exchange; paying pending BLM fees for the claims in the amount of $108,000; and paying Plateau $1,000,000 in four equal staged payments upon completion of a positive feasibility study on the property.

Century Cobalt's, acreage, known as the "Emperium Cobalt Project," as noted above totals 12,980 Acres / 5,625 Hectares, making it larger than the combined land claims of the 5 largest publicly traded companies currently active in the Idaho Cobalt Belt. The project is located approximately 16 miles (26 km) southwest of Salmon, Idaho. As of March 2020, the Company's land position has been reduced to 694 claims.

We had been exploring further options regarding the monetization of its Emperium Cobalt Project, which may include the sub-licensing or sale of the assets. Further to these efforts, on March 17, 2021, we signed an MOU and entered into discussions with UK-based Technology Minerals Limited ("Technology Minerals") for Technology Minerals to acquire the Company's entire interest ("the assets") in the Emperium Cobalt Project.

Technology Minerals is comprised of mining assets and a major recycling group, laying the foundations for the UK's first meaningful green circular economy in the battery industry and is currently in the process of becoming a UK-listed Company on the Standard List of the London Stock Exchange, by way of a Reverse Take Over.

Technology Minerals will extract the raw materials required for Li-ion Battery cathodes and then help solve the ecological issue of spent Li-ion batteries by recycling them for reuse by battery manufacturers.

On September 14, 2021, the Company signed a share purchase agreement to sell the assets of Emperium 1 Holdings Corp to Technology Minerals PLC, a related party. Technology Minerals PLC become new UK public company during the three months ended August 31, 2021. The Company was issued 420,000,000 unregistered shares (0.001£ par value) of Technology Minerals PLC common stock. The Company initially owned approximately 38.8% of the outstanding shares of Technology Minerals PLC. At May 31, 2022, the owns approximately 37.5% of the outstanding shares of Technology Minerals PLC.

We are currently accessing the next steps our business.

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**Results of Operations**

*For the three months ended May 31, 2022 Compared to the three months ended May 31, 2021*

*Revenue*

We have not earned any revenues since our inception, and we do not anticipate earning revenues in the upcoming quarter.

*Net income (loss)*

We had a net income of $52,810 for the three-month period ended May 31, 2022 which was $248,061 higher than the net loss of $195,251 for the three-month period ended May 31, 2021. The change in our net loss over the two periods are primarily a result of an approximate $149,000 income from our sale of 4,375,000 shares of our TM PLC investment, an approximate $25,000 decrease in consulting fees primarily from the lower common stock compensation, an approximate $58,000 decrease in exploration fees as we sold our mining claims in the fourth quarter of fiscal 2021 and an approximate $31,000 gain in foreign exchange adjustments, offset by an approximate $2,000 increase in professional fees and an approximate $13,000 increase in interest expense from our notes payable.

*For the six months ended May 31, 2022 Compared to the six months ended May 31, 2021*

*Revenue*

We have not earned any revenues since our inception, and we do not anticipate earning revenues in the upcoming quarter.

*Net income (loss)*

We had a net loss of $171,173 for the six-month period ended May 31, 2022 which was $206,122 lower than the net loss of $377,295 for the six-month period ended May 31, 2021. The change in our net loss over the two periods are primarily a result of an approximate $149,000 income from our sale of 4,375,000 shares of our TM PLC investment less an approximate $133,000 increase in loss from our equity method investment, an approximate $60,000 decrease in consulting fees primarily from the lower common stock compensation, an approximate $89,000 decrease in exploration fees as we sold our mining claims in the fourth quarter of fiscal 2021, an approximate $32,000 gain in foreign exchange adjustments, an approximate $2,000 decrease in interest expense from our notes payable and an approximate $7,000 decrease in general administrative expenses.

**Liquidity and Capital Resources**

Our balance sheet as of May 31, 2022 had cash of $87,593 and working capital deficit of $1,699,830. We do not have sufficient working capital to enable us to carry out our stated plan of operation for the next twelve months.

We anticipate generating losses and, therefore, may be unable to continue operations further in the future.

**Cash Flows**

*Operating Activities*

Net cash used in operating activities during the six months ended May 31, 2022 was $219,490, a $79,233 increase from the $140,257 net cash outflow during the six months ended May 31, 2021, primarily a result of the Company's paying amounts due our CEO.

*Investing Activities*

Net cash was provided by investing activities for the six months ended May 31, 2022 consisting of $148,631 from our sale of 4,375,000 shares of our TM PLC common stock investment.

*Financing Activities*

Cash provided by financing activities during the six months ended May 31, 2022 was $131,798, a $9,094 increase from $122,704 in cash provided by financing activities during the six months ended May 31, 2021 from related party promissory notes payable and a note payable less repayment of accrued interest on a note payable.

We estimate that our operating expenses and working capital requirements for the 12 months ended May 31, 2023 to be as follows:

**Estimated Net Expenditures During The Next Twelve Months**

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| **Expense** | **Cost** |
| General and administrative expenses | $25000 |
| Management and administrative costs | $180000 |
| Legal Fees | $10000 |
| Auditor Fees | $25000 |
| **Total** | $**240000** |

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Of the $240,000 that we require for the next 12 months, we had $87,593 in cash as of May 31, 2022 and a working capital deficit of $1,699,830. In order to improve our liquidity, we plan to pursue additional equity or debt financing from private investors or possibly a registered public offering. We do not currently have any definitive arrangements in place for the completion of any further financings and there is no assurance that we will be successful in completing any further financings. If we are unable to achieve the necessary additional financing, then we plan to reduce the amounts that we spend on our business activities and administrative expenses in order to be within the amount of capital resources that are available to us.

We are not aware of any known trends, demands, commitments, events or uncertainties that will result in or that are reasonably likely to result in our liquidity increasing or decreasing in any material way.

**Future Financings**

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

We presently do not have any arrangements for additional financing for the expansion of our exploration operations, and no potential lines of credit or sources of financing are currently available for the purpose of proceeding with our plan of operations.

**Off-Balance Sheet Arrangements**

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

**Critical Accounting Policies**

Please refer to Note 2 - Summary of Significant Accounting Policies in the accompanying Notes to the Consolidated Financial Statements.

**Item 3. Quantitative and Qualitative Disclosures About Market Risk**

As a "smaller reporting company", we are not required to provide the information required by this Item.

**Item 4. Controls and Procedures**

*Management's Report on Disclosure Controls and Procedures*

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the *Securities Exchange Act of 1934*, as amended, is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, and that such information is accumulated and communicated to our management, including our president (our principal executive officer, principal financial officer and principle accounting officer) to allow for timely decisions regarding required disclosure.

As of the end of the quarter covered by this report, we carried out an evaluation, under the supervision and with the participation of our president (our principal executive officer, principal financial officer and principal accounting officer), of the effectiveness of the design and operation of our disclosure controls and procedures. Based on the foregoing, our president (our principal executive officer, principal financial officer and principal accounting officer) concluded that our disclosure controls and procedures were not effective as of the end of the period covered by this quarterly report.

C*hanges in Internal Control Over Financial Reporting*

During the period covered by this report there were no changes in our internal control over financial reporting that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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**PART II - OTHER INFORMATION**

**Item 1. Legal Proceedings**

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

**Item 1A. Risk Factors**

We incorporate by reference the risk factors disclosed in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended November 30, 2021 as filed with the SEC on March 16, 2022.

**Item 2. Unregistered Sales of Equity Securities and Use of Proceeds**

On August 1, 2018, the Company granted 1,000,000 unregistered common shares, at $0.04 per share, valued at $40,000, to the Company's president pursuant to a consulting agreement for annual share compensation. The Shares were issued to the Company's president on March 18, 2021.

On February 1, 2019, the Company granted 250,000 at $0.147 per share, valued at $36,750, unregistered common shares pursuant to a consulting agreement for the former Company's Chief Operating Officer (COO). As of January 12, 2023, the shares have not been issued to the former COO.

On April 1, 2019, the Company granted 163,132 at $0.1226 per share, valued at $20,000, unregistered common shares as per an option agreement to explore and evaluate the battery materials in South Dakota. See Note 5. As of January 12, 2023, the shares have not been issued to the individual.

On June 5, 2019, the Company entered into an agreement with a consultant to provide finance and accounting services to the Company. The Consultant is compensated with a combination of cash and unregistered shares of the Company's common stock. In addition, the consultant was granted 50,000 shares of the Company's common stock valued at $4,990 or .0998 per share. As of January 12, 2023, the consultant has earned an aggregate of 546,224 shares valued at $15,932 or $0.0292 per share. As of January 12, 2023, the shares have not been issued to the consultant.

On August 1, 2019, the Company granted 1,000,000 unregistered common shares, at $0.0975 per share, valued at $97,500, to the Company's president pursuant to a consulting agreement for annual share compensation. The Shares were issued to the Company's president on March 18, 2021.

On August 1, 2019, the Company granted 250,000 at $0.0975 per share, valued at $24,375, unregistered common shares for services to the Company for the former Company's Chief Operating Officer (COO). As of January 12, 2023, the shares have not been issued to the Company's former COO.

On December 23, 2019, the Company issued a stock subscription for 912,310 unregistered shares of the Company's common stock to an investor. The shares were valued at $45,616 or $0.05 per share. The subscription amount was funded on December 24, 2019. The shares were issued on May 21, 2021 to the investor. The Company used the proceeds for working capital.

On February 3, 2020, the Company issued a stock subscription for 2,174,545 unregistered shares of the Company's common stock to an investor. The shares were valued at $59,800 or $0.0275 per share. The subscription amount was funded on February 7, 2020. The shares were issued on May 21, 2021 to the investor. The Company used the proceeds for working capital.

On August 1, 2020, the Company granted 1,000,000 unregistered common shares, at $0.0186 per share, valued at $18,600, to the Company's president pursuant to a consulting agreement for annual share compensation. The shares were issued on May 21, 2021 to the Company's president.

On January 11, 2021, the Company issued a stock subscription for 176,966 unregistered shares of the Company's common stock to pay a past due balance from one of the Company's vendors. The shares were valued at $5,309 or $0.03 per share. The shares were issued to the vendor on April 19, 2021.

On May 21, 2021, the Company awarded 1,750,000 unregistered common shares, at $0.0231 per share, valued at $45,425, to the Company's former COO as a bonus for services to the Company. The shares were issued on May 21, 2021 to the Company's former COO.

On August 4, 2021, the Company issued 500,000 unregistered shares of the Company's common stock to the Company's former COO as a bonus for services to the Company. The shares were valued at $10,000 or $0.02 per share.

On August 4, 2021, the Company issued 5,000,000 unregistered shares of the Company's common stock to the Company's CEO for services to the Company. The shares were valued at $100,000 or $0.02 per share.

On August 4, 2021, the Company issued 11,079,939 shares of the Company's common stock to convert $332,398 of principal and interest or $0.03 per share to fully satisfy a convertible promissory note dated August 14, 2019.

**Item 3. Defaults Upon Senior Securities**

None.

**Item 4. Mine Safety Disclosures**

Not applicable.

**Item 5. Other Information**

None.

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| *[**Table of Contents**](#TOC)* |

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**Item 6. Exhibits**

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| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Description** |
| **(3)** | **(i) Articles of Incorporation; (ii) By-laws** |
| [3.1](http://www.sec.gov/Archives/edgar/data/1456802/000114420409010858/v141237_ex3-1.htm) | [Articles of Incorporation (Incorporated by reference to our Registration Statement filed on Form S-1 on February 25, 2009).](http://www.sec.gov/Archives/edgar/data/1456802/000114420409010858/v141237_ex3-1.htm) |
| [3.2](http://www.sec.gov/Archives/edgar/data/1456802/000114420409010858/v141237_ex3-2.htm) | [By-laws (Incorporated by reference to our Registration Statement filed on Form S-1 on February 25, 2009)](http://www.sec.gov/Archives/edgar/data/1456802/000114420409010858/v141237_ex3-2.htm) |
| [3.3](http://www.sec.gov/Archives/edgar/data/1456802/000114420409010858/v141237_ex3-1.htm) | [Certificate of Amendment (Incorporated by reference to our Registration Statement filed on Form S-1 on February 25, 2009).](http://www.sec.gov/Archives/edgar/data/1456802/000114420409010858/v141237_ex3-1.htm) |
| [3.4](http://www.sec.gov/Archives/edgar/data/1456802/000106299310002329/exhibit3-1.htm) | [Articles of Merger (Incorporated by reference to our Current Report filed on Form 8-K on July 15, 2010).](http://www.sec.gov/Archives/edgar/data/1456802/000106299310002329/exhibit3-1.htm) |
| [3.5](http://www.sec.gov/Archives/edgar/data/1456802/000106299310002329/exhibit3-2.htm) | [Certificate of Change (Incorporated by reference to our Current Report filed on Form 8-K on July 15, 2010).](http://www.sec.gov/Archives/edgar/data/1456802/000106299310002329/exhibit3-2.htm) |
| [3.6](http://www.sec.gov/Archives/edgar/data/1456802/000116552718000134/ex3-2.htm) | [Articles of Merger (Incorporated by reference to our Current Report filed on Form 8-K on June 25, 2018).](http://www.sec.gov/Archives/edgar/data/1456802/000116552718000134/ex3-2.htm) |
| **(10)** | **Material Contracts** |
| [10.1](http://www.sec.gov/Archives/edgar/data/1456802/000116552711001076/ex10-1.txt) | [2011 Stock Option Plan (incorporated by reference to our Current Report filed on Form 8-K on November 14, 2011).](http://www.sec.gov/Archives/edgar/data/1456802/000116552711001076/ex10-1.txt) |
| [10.2](http://www.sec.gov/Archives/edgar/data/1456802/000116552715000491/ex10-4.txt) | [Foxglove Promissory Note dated June 28, 2015 (incorporated by reference to our Quarterly Report filed on Form 10-Q on October 14, 2015).](http://www.sec.gov/Archives/edgar/data/1456802/000116552715000491/ex10-4.txt) |
| 10.3 | $7,000 Convertible Promissory Note dated October 15, 2015 issued to Consorcio Empresarial Vesubio SA (incorporated by reference to our Quarterly Report filed on Form 10-Q on October 14, 2015). |
| [10.4](http://www.sec.gov/Archives/edgar/data/1456802/000116552718000170/ex10-1.htm) | [Assignment Agreement dated effective August 7, 2018 between Oriental Rainbow Group Ltd. and Century Cobalt Corp. (incorporated by reference to our Current Report filed on Form 8-K on August 14, 2018).](http://www.sec.gov/Archives/edgar/data/1456802/000116552718000170/ex10-1.htm) |
| [10.5](http://www.sec.gov/Archives/edgar/data/1456802/000116552718000203/ex10-10.htm) | [Consulting Agreement with Alexander Stanbury, dated September 14, 2018. (Incorporated by reference to Exhibit 10.10 to our Quarterly Report filed on Form 10-Q on October 22, 2018).](http://www.sec.gov/Archives/edgar/data/1456802/000116552718000203/ex10-10.htm) |
| [10.6](http://www.sec.gov/Archives/edgar/data/1456802/000116552718000203/ex10-11.htm) | [Consulting Agreement with Lester Kemp, dated September 11, 2018. (Incorporated by reference to Exhibit 10.11 to our Quarterly Report filed on Form 10-Q on October 22, 2018).](http://www.sec.gov/Archives/edgar/data/1456802/000116552718000203/ex10-11.htm) |
| [10.7](http://www.sec.gov/Archives/edgar/data/1456802/000147793221003117/ccob_ex107.htm) | [On September 14, 2019, the Company entered a consulting agreement with Mathew McGahan for Business Development including other management advisory services (incorporated to our Annual Report filed on Form 10-K/A on May 11, 2021).](http://www.sec.gov/Archives/edgar/data/1456802/000147793221003117/ccob_ex107.htm) |
| [31.1\*](ccob_ex311.htm) | [Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 of the Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer.](ccob_ex311.htm) |
| **(32)** | **Section 1350 Certifications** |
| [32.1\*](ccob_ex321.htm) | [Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 of the Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer.](ccob_ex321.htm) |
| **101\*** | **Interactive Data File** |
| 101.INS | Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document). |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document. |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document. |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document. |
| 101.LAB | Inline XBRL Taxonomy Extension Labels Linkbase Document. |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document. |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101). |

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\* Filed herewith.

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| 20 |
| *[**Table of Contents**](#TOC)* |

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**SIGNATURES**

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

---

| | | |
|:---|:---|:---|
|  | **CENTURY COBALT CORP.** | **CENTURY COBALT CORP.** |
|  | (Registrant) | (Registrant) |
| Dated: January 13, 2023 | By: | */s/ Alexander Stanbury* |
|  |  | Alexander Stanbury |
|  |  | President, Chief Executive Officer,<br>Treasurer, Secretary and Director |
|  |  | (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer) |

---

## Exhibit 31.1

**EXHIBIT 31.1**

**CERTIFICATION**

I, Alexander Stanbury, certify that:

1. I have reviewed this report on Form 10-Q

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. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

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 registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and 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):

a) All significant deficiencies and material weaknesses 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.

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| | |
|:---|:---|
| Dated: January 13, 2023 | */s/ Alexander Stanbury* |
|  | Alexander Stanbury |
|  | President, Chief Executive Officer,<br> Treasurer, Secretary and Director |
|  | (Principal Executive Officer, Principal Financial Officer<br> and Principal Accounting Officer) |

---

## Exhibit 32.1

**EXHIBIT 32.1**

**CERTIFICATION**

Pursuant to 18 U.S.C. 1350

(Section 906 of the Sarbanes-Oxley Act of 2002)

In connection with the Quarterly Report on Form 10-Q of Century Cobalt Corp. (the "Company") for the period ended May 31, 2022, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), Alexander Stanbury, as Chief Executive Officer of the Company, hereby certifies, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that:

(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.

---

| | |
|:---|:---|
| Dated: January 13, 2023 | */s/ Alexander Stanbury* |
|  | Alexander Stanbury |
|  | President, Chief Executive Officer, |
|  | Treasurer, Secretary and Director |
|  | (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer) |

---

This certification accompanies each Report pursuant to § 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of §18 of the Securities Exchange Act of 1934, as amended.

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.