# EDGAR Filing Document

**Accession Number:** 0001687926
**File Stem:** 0001213900-23-013210
**Filing Date:** 2023-2
**Character Count:** 45450
**Document Hash:** e4754d9cf38db82b9b672a4c34625c0d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-23-013210.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001213900-23-013210

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 43

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ZEUUS, INC.
- **CENTRAL INDEX KEY:** 0001687926
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MISCELLANEOUS BUSINESS SERVICES [7380]
- **IRS NUMBER:** 371830331
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56297
- **FILM NUMBER:** 23647142

**BUSINESS ADDRESS:**
- **STREET 1:** 9TH FLOOR, 31 WEST 27TH ST
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001
- **BUSINESS PHONE:** (888) 469-3887

**MAIL ADDRESS:**
- **STREET 1:** 9TH FLOOR, 31 WEST 27TH ST
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Kriptech International Corp.
- **DATE OF NAME CHANGE:** 20161019

?xml version="1.0" encoding="ASCII"?

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

**FORM 10-Q**

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

For the quarterly period ended December 31, 2022

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

For the quarterly period ended

Commission File Number 000-214815

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| |
|:---|
| **ZEUUS, INC.** |
| (Exact name of registrant as specified in its charter) |

---

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| | |
|:---|:---|
| **Nevada** | **37-1830331** |
| (State or other jurisdiction of <br> incorporation or organization) | (I.R.S. Employer <br> Identification No.) |

---

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| |
|:---|
| **9<sup>th</sup> Floor, 31 West 27<sup>th</sup> Street New York, NY, 10001** |
| (Address of principal executive offices, including zip code) |

---

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| |
|:---|
| **(888) 469-3887** |
| (Registrant's telephone number, including area code) |

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

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| **None** | **None** | **None** |

---

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.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> 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 Act). Yes ☐ No ☒

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. As of February 16, 2023, issuer had 105,515,416 outstanding shares of common stock, par value $0.001.

**ZEUUS, INC.**

**FORM 10-Q**

**For the Quarterly Period Ended December 31, 2022**

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| [**PART I**](#a_001) | [**Financial Information**](#a_001) | 1 |
| Item 1. | [Financial Statements (unaudited)](#a_002) | 1 |
| Item 2. | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#a_017) | 11 |
| Item 3. | [Quantitative and Qualitative Disclosures about Market Risk](#a_018) | 13 |
| Item 4. | [Controls and Procedures](#a_019) | 13 |
| [**PART II**](#a_008) | [**Other Information**](#a_008) | 14 |
| Item 1. | [Legal Proceedings](#a_009) | 14 |
| Item 1A. | [Risk Factors](#a_010) | 14 |
| Item 2. | [Unregistered Sales of Equity Securities and Use of Proceeds](#a_011) | 14 |
| Item 3. | [Defaults Upon Senior Securities](#a_012) | 14 |
| Item 4. | [Mine Safety Disclosures](#a_013) | 14 |
| Item 5. | [Other Information](#a_014) | 14 |
| Item 6. | [Exhibits](#a_015) | 14 |
| [Signatures](#a_016) | [Signatures](#a_016) | 15 |

---

i

**PART I – FINANCIAL INFORMATION**

**Item 1. Financial Statements**

**ZEUUS, INC.**

---

| | |
|:---|:---|
| [Condensed Consolidated Balance Sheets as of December 31, 2022 (unaudited) and September 30, 2022 (audited)](#a_003) | 2 |
| [Condensed Consolidated Statements of Operations for the Three Months ended December 31, 2022 and 2021 (unaudited)](#a_004) | 3 |
| [Condensed Consolidated Statement of Changes in Stockholders' Equity (Deficit) for the Three Months ended December 31, 2022 and 2021 (unaudited)](#a_005) | 4 |
| [Condensed Consolidated Statements of Cash Flows for the Three Months ended December 31, 2022 and 2021 (unaudited)](#a_006) | 5 |
| [Notes to Condensed Consolidated Financial Statements (unaudited)](#a_007) | 6 |

---

**ZEUUS, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS** 

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| | | |
|:---|:---|:---|
|  | December 31,<br> 2022 | September 30, <br> 2022 |
|  | (Unaudited) | |
| **<u>ASSETS</u>** |  |  |
| Current Assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $57007 | $42949 |
| &nbsp;&nbsp;&nbsp;Deposit and other assets | 53223 | 15674 |
| Total current assets | 110230 | 58623 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 48035 | 83191 |
| &nbsp;&nbsp;&nbsp;Intangible assets | 855000 | 900000 |
| Total other assets | 903035 | 983191 |
| Total Assets | $1013265 | $1041814 |
| **<u>LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)</u>** |  |  |
| Current Liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $87245 | $45846 |
| &nbsp;&nbsp;&nbsp;Accrued interest– related party | 74797 | 49107 |
| &nbsp;&nbsp;&nbsp;Other current liabilities | 3698 | 60197 |
| &nbsp;&nbsp;&nbsp;Due to related parties | 1311558 | 1159584 |
| Total Current Liabilities | 1477298 | 1314734 |
| Total Liabilities | 1477298 | 1314734 |
| Commitments and contingencies |  |  |
| <u>Stockholders' Equity (Deficit):</u> |  |  |
| Common Stock, par value $0.001, 200,000,000 shares authorized; 105,515,460 and 105,515,460 shares issued and outstanding, respectively | 105515 | 105515 |
| Additional paid-in capital | 888061 | 888061 |
| Accumulated other comprehensive income | (281) | 17060 |
| Accumulated deficit | (1457328) | (1283556) |
| Total Stockholders' Equity (Deficit) | (464033) | (272920) |
| Total Liabilities and Stockholders' Deficit | $1013265 | $1041814 |

---

*The accompanying notes are an integral part of these condensed consolidated unaudited financial statements.*

 ****

**ZEUUS, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)** 

---

| | | |
|:---|:---|:---|
|  | For the Three Months Ended December 31, | For the Three Months Ended December 31, |
|  | 2022 | 2021 |
| Operating Expenses: |  |  |
| &nbsp;&nbsp;&nbsp;General and administrative | $72750 | $197055 |
| &nbsp;&nbsp;&nbsp;Director compensation |  | 34650 |
| &nbsp;&nbsp;&nbsp;Professional fees | 75332 | 30718 |
| Total operating expenses | 148082 | 262423 |
| Loss from operations | (148082) | (262423) |
| Other expense: |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | (25690) | (2606) |
| Total other expense | (25690) | (2606) |
| Loss before provision for income taxes | (173772) | (265029) |
| Provision for income taxes |  |  |
| Net Loss | $(173772) | $(265029) |
| Other comprehensive income: |  |  |
| &nbsp;&nbsp;&nbsp;Foreign currency translation adjustment | (17341) | (3155) |
| Comprehensive Loss | (191113) | (268184) |
| Loss per share, basic and diluted | $(0.00) | $(0.00) |
| Weighted average common shares outstanding, basic and diluted | 105515460 | 105492290 |

---

*The accompanying notes are an integral part of these condensed consolidated unaudited financial statements.*

 ****

**ZEUUS, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT FOR THE THREE MONTHS ENDED DECEMBER 31, 2021 AND 2022 (Unaudited)**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Common Stock | Common Stock | | | | |
|  | Shares | Amount | Additional<br> Paid in<br>Capital | Accumulated<br>Deficit | Other<br> Comprehensive<br>Income | Total<br> Stockholders'<br>Equity (Deficit) |
| Balance, September 30, 2021 | 105442890 | $105443 | $727857 | $(449634) | $2062 | $385728 |
| Common stock issued for director services | 23100 | 23 | 34627 |  |  | 34650 |
| Common stock issued for cash | 33730 | 34 | 51966 |  |  | 52000 |
| Net loss |  |  |  | (265029) | (3155) | (268184) |
| Balance, December 31, 2021 | 105499720 | $105500 | $814450 | $(714663) | $(1093) | $204194 |

---

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Common Stock | Common Stock | | | | |
|  | Shares | Amount | Additional<br> Paid in<br>Capital | Accumulated<br>Deficit | Other<br> Comprehensive<br>Income | Total<br> Stockholders'<br>Equity (Deficit) |
| Balance, September 30, 2022 | 105515460 | $105515 | $888061 | $(1283556) | $17060 | $(272920) |
| Net loss |  |  |  | (173772) | (17341) | (191113) |
| Balance, December 31, 2022 | 105515460 | $105515 | $888061 | $(1457328) | $(281) | $(464033) |

---

*The accompanying notes are an integral part of these condensed consolidated unaudited financial statements.*

 ****

**ZEUUS, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)**

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| | | |
|:---|:---|:---|
|  | For the Three Months Ended December 31, | For the Three Months Ended December 31, |
|  | 2022 | 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Net Loss | $(173772) | $(265029) |
| &nbsp;&nbsp;&nbsp;Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization expense | 48702 | 2185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock issued for director services |  | 34650 |
| &nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposit and other assets | (6095) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 24840 | (20545) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued interest– related party | 25690 | 2607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current liabilities | (56499) |  |
| Net cash used in operating activities | (137134) | (246132) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase of equipment |  | (11030) |
| Net cash used in investing activities |  | (11030) |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash overdraft | 16559 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sale of common stock |  | 52000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from related party loans | 151974 | 249973 |
| Net cash provided by financing activities | 168533 | 301973 |
| Net change in cash | 31399 | 44811 |
| Effects of currency translation | (17341) | (3155) |
| Cash, beginning of period | 42949 | 90006 |
| Cash, end of period | $57007 | $131662 |
| Supplemental disclosure of cash flow information: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash paid for taxes | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash paid for interest | $— | $— |

---

*The accompanying notes are an integral part of these condensed consolidated unaudited financial statements.*

 ****

**ZEUUS, INC. AND SUBSIDIARY**

**NOTES TO THE CONDENSED CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS**

**DECEMBER 31, 2022**

**NOTE 1 – ORGANIZATION AND BUSINESS**

ZEUUS, INC. (formerly Kriptech International Corp.) (the "Company") is a corporation established under the corporation laws in the State of Nevada on March 20, 2016. The Company has adopted September 30 fiscal year end.

On June 11, 2020, Meshal Al Mutawa, acquired control of 8,000,000 restricted shares of the Company's issued and outstanding common stock, representing approximately 75.97% of the Company's total issued and outstanding common stock, from Anatolii Antontcev and Aleksandr Zausayev in exchange for $270,000 under the terms of a Stock Purchase Agreement by and among Messrs. Al Mutawa, Zausayev and Antontcev.

On June 11, 2020, (i) Mr. Anatolii Antontcev resigned from all positions with the Company, including as President, Chief Executive Officer, Treasurer, Chief Financial Officer and as a Director, (ii) Aleksandr Zausayev resigned as the Secretary.

On June 11, 2020, Mr. Meshal Al Mutawa was appointed to the Company's Board of Directors and as the Company's President, Chief Executive Officer, Treasurer, Chief Financial Officer, and Secretary.

On August 31, 2020, Bassam A.I. Al-Mutawa, acquired control of eight million (8,000,000) restricted shares of the Company's issued and outstanding common stock, representing approximately 75.97% of the Company's total issued and outstanding common stock, from Meshal Al Mutawa through an Assignment by and between Mr. Meshal Al Mutawa, and Mr. Bassam A.I. Al-Mutawa.

On August 31, 2020, Mr. Bassam A.I. Al-Mutawa was appointed to the Company's Board of Directors and as the Company's President, Chief Executive Officer, Treasurer, Chief Financial Officer, and Secretary.

On March 9, 2021, the Financial Industry Regulatory Authority ("FINRA") approved the Company's name change to Zeuus, Inc. and its trading symbol to ZUUS. The market effective date of the name and trading symbol change was March 10, 2021.

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

*<u>Basis of Presentation</u>*

The Company's unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending September 30, 2023. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company's Annual Report on Form 10-K for the year ended September 30, 2022.

 

*<u>Use of estimates</u>*

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

*<u>Concentrations of Credit Risk</u>*

We maintain our cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. We continually monitor our banking relationships and consequently have not experienced any losses in our accounts. At times, such deposits may be in excess of the Federal Deposit Insurance Corporation insurable amount ("FDIC").

*<u>Principles of Consolidation</u>*

The accompanying condensed consolidated unaudited financial statements for the three months ended December 31, 2022 and 2021, include the accounts of the Company and its wholly owned subsidiary, Zeuus Energy. Zeuus Energy was incorporated on July 27, 2021 in Montenegro and is currently the only operating subsidiary.

*<u>Translation Adjustment</u>*

The accounts of the Company's subsidiary Zeuus Energy, Inc, are maintained in Euros. According to the Codification, all assets and liabilities were translated at the current exchange rate at respective balance sheets dates, members' capital are translated at the historical rates and income statement items are translated at the average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income in accordance with the Comprehensive Income Topic of the Codification (ASC 220), as a component of members' capital. Transaction gains and losses are reflected in the income statement.

*<u>Comprehensive Income</u>*

The Company uses SFAS 130 "Reporting Comprehensive Income" (ASC Topic 220). Comprehensive income is comprised of net income and all changes to the statements of members' capital, except those due to investments by members, changes in paid-in capital and distributions to members. Comprehensive income for the three months ended December 31, 2022, is included in net loss and foreign currency translation adjustments.

*<u>Recently issued accounting pronouncements</u>*

The Company has implemented all new applicable accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

**NOTE 3 – GOING CONCERN**

The Company's unaudited consolidated financial statements as of December 31, 2022, were prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has an accumulated deficit at December 31, 2022 of $1,457,328, had a net loss of $173,772 and $137,134 of cash used in operations for the three months ended December 31, 2022. The Company has not yet established a source of revenue. These factors raise substantial doubt about its ability to continue as a going concern.

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

**NOTE 4 – INTANGIBLE ASSET**

On June 1, 2021, the Company completed the closing of the transactions under the terms of the Asset Purchase Agreement with Andrei Seleznev, Nikolay Alekseev, and Ilia Alekseev (collectively, "Sellers"), dated May 12, 2021, to purchase the assets comprising the Wind Turbine Technology. In exchange for these assets, the Company paid $100,000 in cash, and issued 14,289 shares of its common stock to the Sellers. The shares were valued at $800,000 based on the average of the closing price per share of the Company's common stock for the 30 trading days prior to the effective date of the agreement. In addition, the Company entered into employment agreements with each Seller to further develop the wind turbine technology and acquired assets. Before this transaction, the Company had no material relationship with any of the Sellers.

Intangible asset stated at cost, less accumulated amortization consisted of the following:

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| | | |
|:---|:---|:---|
|  | December 31,<br> 2022 | September 30,<br> 2022 |
| Wind Turbine Technology | $900000 | $900000 |
| Less: accumulated amortization | (45000) |  |
| Intangible asset, net | $855000 | $900000 |

---

*<u>Amortization expense</u>*

Amortization expense for the three months ended December 31, 2022 and 2021 was $45,000 and $0. respectively.

**NOTE 5 – PROPERTY AND EQUIPMENT**

Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the various classes of assets as follows between three and five years.

Long lived assets, including property and equipment, to be held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Impairment losses are recognized if expected future cash flows of the related assets are less than their carrying values. Measurement of an impairment loss is based on the fair value of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.

Maintenance and repair expenses, as incurred, are charged to expense. Betterments and renewals are capitalized in plant and equipment accounts. Cost and accumulated depreciation applicable to items replaced or retired are eliminated from the related accounts with any gain or loss on the disposition included as income.

Property and equipment stated at cost, less accumulated depreciation consisted of the following:

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| | | |
|:---|:---|:---|
|  | December 31,<br> 2022 | September 30,<br> 2022 |
| Property and equipment | $66996 | $100293 |
| Less: accumulated depreciation | (10894) | (17102) |
| Property and equipment, net | $48035 | $83191 |

---

*<u>Depreciation expense</u>*

Depreciation expense for the three months ended December 31, 2022 and 2021 was $3,702 and $2,185. respectively.

**NOTE 6 – COMMON STOCK**

On July 25, 2022, the Company was advised by FINRA that the 10:1 forward stock split of the Company's common stock was effective July 25, 2022. Immediately following the effectiveness of the forward stock split, there were 105,509,660 shares of the Company's common stock issued and outstanding, as compared to 10,550,966 shares of the Company's common stock issued and outstanding immediately prior to the forward stock split. All shares throughout these financial statements and Form 10-Q have been retroactively adjusted to reflect the forward stock split.

**NOTE 7 – RELATED PARTY TRANSACTIONS**

In support of the Company's efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by officers, directors, or shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note.

Since March 20, 2016, (inception) through December 31, 2022, Meshal Al Mutawa, the Company's former president, treasurer and director, and son of Bassam Al-Mutawa, has loaned the Company funds to pay for incorporation costs and operating expenses. The following is summary of the loans as of December 31, 2022.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Date | Maturity | Rate | Default<br> Rate | Balance<br> 9/30/2022 | Additions | Balance<br> 12/31/2022 |
| 8/30/2021 | 10/31/2022 | 8% | 16% | $100000 | $— | $100000 |
| 2020 | n/a | n/a | n/a | $13823 | $— | $13823 |
| 10/12/2021 | 10/12/2022 | 8% | 16% | $100000 | $— | $100000 |
| 10/25/2021 | 10/25/2022 | 8% | 16% | $150000 | $— | $150000 |
| 3/24/2022 | 3/24/2023 | 8% | 16% | $45000 | $— | $45000 |
| 4/11/2022 | 4/11/2023 | 8% | 16% | $80000 | $— | $80000 |
| 6/6/2022 | 6/6/2023 | 8% | 16% | $50000 | $— | $50000 |
| 7/18/2022 | 7/18/2023 | 8% | 16% | $100000 | $— | $100000 |
| 9/20/2022 | 9/20/2023 | 8% | 16% | $60000 | $— | $60000 |
| 11/22/2022 | 11/22/2022 | 8% | 16% | $— | $151974 | $151974 |
| Balance |  |  |  | $698823 | $151974 | $850797 |

---

Total accrued interest on the above notes as of December 31, 2022, is $74,797.

On January 7, 2021, Bassam Al-Mutawa, CEO, loaned the Company $240,000. On January 8, 2021, the Company issued Mr. Al-Mutawa, a Promissory Note in the principal amount of $150,000 (the "Note") in consideration of cash in the amount of $150,000. The Note accrues interest at the rate of 5% per annum and matures January 8, 2022. As of December 31, 2022, there is $15,000 of interest accrued on this note. In addition to the Note, Mr. Al-Mutawa, has advanced additional funds to the Company. As of December 31, 2022, the Company owes total principal of $460,761.

During the year ended September 30, 2022, the Company granted 23,100 shares of common stock to its directors for services. The shares were valued at $1.50 per share for total non-cash expense of $34,650.

**NOTE 8 - SUBSEQUENT EVENTS**

Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855, from the balance sheet date through the date the financial statements were issued and has determined that there are no material subsequent events.

**ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION**

FORWARD-LOOKING STATEMENTS

This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

**Overview of Operations**

We are a Data Centric company with business activities focused three main areas:

ZEUUS Data Centers

ZEUUS Energy

ZEUUS Cyber Security

All four divisions work synergistically with each other in an synergetic ecosystem which enables growth and business protection. These technologies and divisions all stem from the massive requirements in our Data Centers.

While we are currently negotiating for the purchase of three data centers, the recent acquisition by our ZEUUS Energy division of a unique, and scalable Wind Turbine technology has us very excited. We have recently opened a 500 sqm, brand new research and development facility in Montenegro where the final designs for the Wind Turbines are being tested and refined. We expect full commercial production of the Wind Turbines by the end of 3rd Quarter 2022.

We are also in negotiations for the acquisition of two cyber security companies and will update the market after we enter into definitive acquisition agreements.

Our mandate and focus are to harness the Cloud and provide all aspects of Data Services from protection to facilitation, to storage, to the sustainable energy consumption at all our Data Center locations.

***<u>Results of Operation for the Three Months Ended December 31, 2022, Compared to the Three Months Ended December 31, 2021</u>***

*<u>Revenue</u>*

During the three months ended December 31, 2022 and 2021 we did not generate any revenue.

*<u>General and Administrative Expenses</u>*

For the three months ended December 31, 2022, we had $72,750 in general and administrative expenses compared to $197,055 for the three months ended December 31, 2021, respectively, a decrease of $124,305 or 63.1%. Our primary expense in the prior period was for consulting which decreased approximately $108,000 in the current period. We also had a decrease of investor relation expense of $27,000. These decreases were offset by an increase of $45,000 of amortization expense.

*<u>Director Compensation</u>*

For the three months ended December 31, 2022, we had $0 in director compensation compared to $34,650 for the three months ended December 31, 2021, for the issuance of common stock,

*<u>Professional Fees</u>*

For the three months ended December 31, 2022, we had $75,332 in professional fees compared to $30,718 for the three months ended December 31, 2021, an increase of $44,614 or 145.2%. Professional fees consist of legal, audit and accounting fee. In the current three-month period, we had an increase of audit fees of $55,000, which was offset by a $15,000 decrease of legal fees.

*<u>Other Expense</u>*

For the three months ended December 31, 2022, we had interest expense of $25,690 compared to $2,606 in the prior period. Our interest expense has increased due to the additional related party loans.

*<u>Net Loss</u>*

Our net loss for the three months ended December 31, 2022, was $173,772 compared to $265,029 for the three months ended December 31, 2021. The decrease in our net loss is due to our decreased expenses as discussed above.

***Liquidity and Capital Resources***

At December 31, 2022, we had total current assets of $110,230, consisting of cash and deposits. We had total current liabilities of $1,477,298 consisting mostly of loans from related parties.

*<u>Cash Flows from Operating Activities</u>*

For the three months ended December 31, 2022, we used $137,134 of cash in operating activities compared to $246,132 for the three months ended December 31, 2021.

*<u>Cash Flows from Investing Activities</u>*

During the three months ended December 31, 2022, we didn't use any funds for investing activities. During the three months ended December 31, 2021, we purchased property and equipment for a total of $11,030.

*<u>Cash Flows from Financing Activities</u>*

We have financed our operations primarily from loans from related parties and the sale of common stock. For the three months ended December 31, 2022, net cash provided by financing activities was $168,533, which consisted of $16,559 from a cash overdraft and $151,974 from related party loans. During the three months ended December 31, 2021, we received $249,973 from related party loans and $52,000 from the sale of common stock.

PLAN OF OPERATION AND FUNDING

We expect that working capital requirements will continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital requirements are expected to increase in line with the growth of our business.

***Going Concern***

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

The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs for the next fiscal year and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable.

**ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK**

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

**ITEM 4. CONTROLS AND PROCEDURES**

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer's management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of December 31, 2022. Based on that evaluation, our management concluded that our disclosure controls and procedures were effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Such officer also confirmed that there was no change in our internal control over financial reporting during the three months ended December 31, 2022, that have materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

**PART II. OTHER INFORMATION**

**ITEM 1. LEGAL PROCEEDINGS**

Management is not aware of any legal proceedings contemplated by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.

**ITEM 1A. RISK FACTORS**

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

**ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS**

None

**ITEM 3. DEFAULTS UPON SENIOR SECURITIES**

None.

**ITEM 4. MINE SAFETY DISCLOSURES**

Not applicable to our Company.

**ITEM 5. OTHER INFORMATION**

None.

**ITEM 6. EXHIBITS**

---

| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| 31.1 | [Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (\*)](f10q1222ex31-1_zeuusinc.htm) |
| 32.1 | [Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (\*)](f10q1222ex32-1_zeuusinc.htm) |
| 101.INS\* | Inline XBRL Instance 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 Label 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). |

---

**<u>SIGNATURES</u>**

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **ZEUUS, INC.** | **ZEUUS, INC.** |
| Dated: February 21, 2023 | By: | /s*/ Bassam A.I. Al-Mutawa* |
|  |  | Bassam A.I. Al-Mutawa, President and Chief Executive Officer and Chief Financial Officer |

---

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## Exhibit 31.1

**Exhibit 31.1**

**CERTIFICATION PURSUANT TO<br> 18 U.S.C. ss 1350, AS ADOPTED PURSUANT TO<br> SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002** 

I, Bassam A.I. Al-Mutawa, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Zeuus, Inc.;

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

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

4. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a- 15(e) and 15d-15(e)) 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. I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the 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.

---

| |
|:---|
| Date: February 21, 2023 |
| */s/ Bassam A.I. Al-Mutawa* |
| Bassam A.I. Al-Mutawa |
| President, Chief Executive Officer, Chief Financial Officer, Treasurer and Director |
| (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer) |

---

## Exhibit 32.1

**Exhibit 32.1**

**CERTIFICATION PURSUANT TO<br> 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO<br> SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002** 

I, Bassam A.I. Al-Mutawa, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) the Quarterly Report on Form 10-Q of Zeuus, Inc. for the period ended December 31, 2022 (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 Zeuus, Inc.

Dated: February 21, 2023

---

| |
|:---|
| */s/ Bassam A.I. Al-Mutawa* |
| Bassam A.I. Al-Mutawa |
| President, Chief Executive Officer, Chief Financial |
| Officer, Treasurer and Director |
| (Principal Executive Officer, Principal Financial |
| Officer and Principal Accounting Officer) |

---