# EDGAR Filing Document

**Accession Number:** 0001134982
**File Stem:** 0001477932-23-001689
**Filing Date:** 2023-3
**Character Count:** 51830
**Document Hash:** 70a2e4124c3e892a9ffdc318396fc473
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001477932-23-001689.hdr.sgml**: 20230323

**ACCESSION NUMBER**: 0001477932-23-001689

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 34

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230323

**DATE AS OF CHANGE**: 20230323

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PREVENTION INSURANCE COM
- **CENTRAL INDEX KEY:** 0001134982
- **STANDARD INDUSTRIAL CLASSIFICATION:** INSURANCE AGENTS BROKERS & SERVICES [6411]
- **IRS NUMBER:** 880126444
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-32389
- **FILM NUMBER:** 23755027

**BUSINESS ADDRESS:**
- **STREET 1:** 552 LONSDALE STREET
- **CITY:** MELBOURNE
- **STATE:** C3
- **ZIP:** 3000
- **BUSINESS PHONE:** 61 3 8393 1459

**MAIL ADDRESS:**
- **STREET 1:** 552 LONSDALE STREET
- **CITY:** MELBOURNE
- **STATE:** C3
- **ZIP:** 3000

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PREVENTION INSURANCE COM INC
- **DATE OF NAME CHANGE:** 20080111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PREVENTION INSURANCE COM
- **DATE OF NAME CHANGE:** 20010214

?xml version="1.0" encoding="utf-8"?pvnc_10q.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 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 January 31, 2023**

OR

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

For the transition period from ________ to _________

Commission File Number: **000-32389**

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| **PREVENTION INSURANCE.COM** |
| (Exact name of registrant as specified in its charter) |

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| **Nevada** | **88-0126444** |
| (State or Other Jurisdiction of<br>Incorporation or Organization) | (I.R.S. Employer<br>Identification No.) |
| **First Floor, Prohasky Street,**<br>**Port Melbourne, Australia** | **3207**  |
| (Address of Principal Executive Offices) | (Zip Code) |

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<u>+**61 8 8981 4037**</u> 

(Registrant's telephone number, including area code)

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|:---|:---|
| n/a | n/a |

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

Securities registered under Section 12(b) of the Exchange Act: 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," "non-accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check all that apply):

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|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
| Non-accelerated Filer | ☒ | Smaller reporting company | ☒ |
| Emerging growth company | ☐ |  |  |

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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 ☐

As of March 20, 2023, there were 7,642,210 shares of common stock, $0.0001 par value per share, outstanding.

**TABLE OF CONTENTS**

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| | | |
|:---|:---|:---|
|  |  | Page |
| **[PART I – FINANCIAL INFORMATION](#P1)** | **[PART I – FINANCIAL INFORMATION](#P1)** | 3 |
| [Item 1.](#I1) | [Financial Statements](#I1) | 3 |
| [Item 2.](#I2) | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#I2) | 13 |
| [Item 3.](#I3) | [Quantitative and Qualitative Disclosures About Market Risk](#I3) | 17 |
| [Item 4.](#I4) | [Controls and Procedures](#I4) | 17 |
| **[PART II – OTHER INFORMATION](#P2)** | **[PART II – OTHER INFORMATION](#P2)** | 18 |
| **[SIGNATURES](#SIG)** | **[SIGNATURES](#SIG)** | 19 |

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

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**Part I**

**Item 1. Financial Statements.**

**PREVENTION INSURANCE.COM**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(UNAUDITED)**

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| | | |
|:---|:---|:---|
|  | **January 31,**<br>**2023** | **April 30,**<br>**2022** |
| **ASSETS** |  |  |
| **Current Assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash | $463 | $5161 |
| **Total Current Assets** | 463 | 5161 |
| **Other Assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Marketable security | 100 | 100 |
| **Total Assets** | $563 | $5261 |
| **LIABILITIES AND STOCKHOLDERS' DEFICIT** |  |  |
| **Current Liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities | 22600 | 30914 |
| &nbsp;&nbsp;&nbsp;&nbsp;Due to related parties | 161102 | 122302 |
| **Total Current Liabilities** | 183702 | 153216 |
| **Total Liabilities** | 183702 | 153216 |
| Commitments and Contingencies (Note 5) |  |  |
| **Stockholders' Deficit** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred Stock, $0.0001 par value, 50,000,000 and 10,000,000 shares authorized, respectively, none issued |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stock, $0.0001 par value, 500,000,000 and 200,000,000 shares authorized, respectively, 7,642,211 shares issued and 7,642,210 shares outstanding | 764 | 764 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid in capital | 5050769 | 5050769 |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury stock, 1 share, at cost | (52954) | (52954) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (5181718) | (5146534) |
| **Total Stockholders' Deficit** | (183139) | (147955) |
| **Total Liabilities and Stockholders' Deficit** | $563 | $5261 |

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

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

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**PREVENTION INSURANCE.COM**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(UNAUDITED)**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended** | **For the Three Months Ended** | **For the Nine Months Ended** | **For the Nine Months Ended** |
|  | **January 31** | **January 31** | **January 31** | **January 31** |
|  | **2023** | **2022** | **2023** | **2022** |
| **REVENUE** | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative expenses | 8962 | 8615 | 35184 | 40940 |
| **OPERATING LOSS** | (8962) | (8615) | (35184) | (40940) |
| **NET LOSS** | (8962) | (8615) | (35184) | (40940) |
| **Net Loss per Common Share: Basic and Diluted** | $(0.00) | $(0.00) | $(0.00) | $(0.01) |
| **Weighted Average Common Shares Outstanding: Basic and Diluted** | 7642210 | 7642210 | 7642210 | 7566066 |

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

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

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**PREVENTION INSURANCE.COM**

**CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT**

**FOR THE THREE AND NINE MONTHS ENDED JANUARY 31, 2023 AND 2022**

**(UNAUDITED)**

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Preferred Stock** | **Preferred Stock** | **Common Shares** | **Common Shares** | | | | |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Additional** <br>**Paid-In**<br>**Capital** | <br>**Treasury**<br>**Stock** | <br>**Accumulated**<br>**Deficit** | <br><br>**Total** |
| **THREE MONTHS ENDED JANUARY 31, 2023 AND 2022** |  |  |  |  |  |  |  |  |
| Balance at October 31, 2021 |  | $— | 7642211 | $764 | $5050769 | $(52954) | $(5122864) | $(124285) |
| Net Loss for the period |  |  |  |  |  |  | (8615) | (8615) |
| Balance at January 31, 2022 |  | $— | 7642211 | $764 | $5050769 | $(52954) | $(5131479) | $(132900) |
| Balance at October 31, 2022 |  | $— | 7642211 | $764 | $5050769 | $(52954) | $(5172756) | $(174177) |
| Net Loss for the period |  |  |  |  |  |  | (8962) | (8962) |
| Balance at January 31, 2023 |  | $— | 7642211 | $764 | $5050769 | $(52954) | $(5181718) | $(183139) |
| **NINE MONTHS ENDED JANUARY 31, 2023 AND 2022** |  |  |  |  |  |  |  |  |
| Balance at April 30, 2021 |  | $— | 7642211 | $764 | $5050769 | $(52954) | $(5090539) | $(91960) |
| Net loss for the period |  |  |  |  |  |  | (40940) | (40940) |
| Balance at January 31, 2022 |  | $— | 7642211 | $764 | $5050769 | $(52954) | $(5131479) | $(132900) |
| Balance at April 30, 2022 |  | $— | 7234474 | $764 | $5050769 | $(52954) | $(5146534) | $(147955) |
| Net loss for the period |  |  |  |  |  |  | (35184) | (35184) |
| Balance at January 31, 2023 |  | $— | 7642211 | $764 | $5050769 | $(52954) | $(5181718) | $(183139) |

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

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

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**PREVENTION INSURANCE.COM**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(UNAUDITED)**

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| | | |
|:---|:---|:---|
|  | **For the Nine Months Ended** | **For the Nine Months Ended** |
|  | **January 31,** | **January 31,** |
|  | **2023** | **2022** |
| **Cash Flows from Operating Activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net Loss | $(35184) | $(40940) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (8314) | 1300 |
| **Net Cash Used In Operating Activities** | (43498) | (39640) |
| **Cash Flows From Financing Activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from loans - related parties | 38800 | 44549 |
| **Net Cash Provided by Financing Activities** | 38800 | 44549 |
| **Net Change in Cash:** | (4698) | 4909 |
| **Cash and cash equivalents, beginning of period** | 5161 | 342 |
| **Cash and cash equivalents, end of period** | $463 | $5251 |
| **Supplemental Disclosures of Cash Flow Information:** |  |  |
| **Income taxes paid** | $— | $— |
| **Interest paid** | $— | $— |

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

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

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**PREVENTION INSURANCE.COM**<br>**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**<br>**JANUARY 31, 2023**<br>**(UNAUDITED)**<br>

**NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION**

***Nature of Business***

Prevention Insurance.Com (the" Company") was incorporated under the laws of the State of Nevada in 1975 as Vita Plus Industries, Inc. In March 1999, the Company sold its remaining inventory and changed its name to Prevention Insurance.Com.

The Company's business is to pursue a business combination through acquisition, or merger with, an existing company. No assurances can be given that the Company will be successful in locating or negotiating with any target company.

On May 5, 2022, the Company amended its Articles of Incorporation by filing a Certificate of Amendment with the Nevada Secretary of State which;

(a). Increased the authorized shares of common stock of the Company, par value $0.0001, from 200,000,000 shares to 500,000,000 shares, and

(b). Increased the authorized shares of preferred stock of the Company, par value $0.0001, from 10,000,000 shares to 50,000,000 shares and all such shares be deemed "blank check" preferred shares in accordance with Article Seventeen of the Company's Amended and Restated Articles of Incorporation (filed with the Nevada Secretary of State on or about February 20, 2001);

(collectively, the corporate actions provided in paragraphs (a) and (b) are hereby referred to as the "**Corporate Actions**").

The Corporate Actions were adopted at a meeting of our Board of Directors on February 28, 2022, and the Board of Directors recommended that the Corporate Actions be presented to our shareholders for approval. The record date of the Corporate Actions was March 1, 2022, whereby our majority stockholder, holding 85% of our outstanding voting securities, executed written consent approving Corporate Actions.

On November 16, 2022, Mr. Marino Sussich was appointed a director of the Company. Immediately thereafter, Mr. Sussich was appointed President (Chief Executive Officer), Treasurer (Chief Financial Officer) and Secretary of the Company, and simultaneously Mr. Anthony Lococo resigned in all capacities as an officer and as a director of the Company.

Mr. Susich (Age 62) is a serial entrepreneur and investor and has provided various consulting services and investments to small and medium sized companies. Mr. Sussich is the controlling shareholder of Copper Hill Assets Inc. ("Copper Hill"), which owns 85.9% of the outstanding shares of capital stock of the Company. He is the founder of Apple iSports Inc., a Delaware company which has developed an on-line gambling platform and King Lager and King Lite beer brands which have license agreements with Anheuser-Busch. He also is the Chairman and majority shareholder of ABA Resources Pty Ltd, a gold mining company located in Victoria, Australia.

At the present time, there is no agreement between the Company and Mr. Sussich with regard to his compensation as an officer and director. In addition, there was no arrangement or understanding between the newly appointed officer and director and any other person(s) pursuant to which such director was elected in such capacity. The Company has previously disclosed in its filings with the Securities and Exchange Commission, the various loans made by Copper Hill to the Company and the conversion of a portion of such loans to common stock of the Company. As stated above, Copper Hill is owned and controlled by Mr. Sussich. Except as stated and/or referenced herein, there have been no transactions since the beginning of our last fiscal year, or any currently proposed transaction, in which we were or are to be a participant, exceeding $120,000 and in which our new director had or will have a direct or indirect material interest. There are no family relationships between the new officer and director and any other director or executive officer of the Company. There is no material plan, contract or arrangement (whether or not written) to which the new director is a party or in which each party participates that is entered into or a material amendment in connection with the triggering event or any grant or award to any such covered person or modification thereto, under any such plan, contract or arrangement in connection with any such event.

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

The summary of significant accounting policies is presented to assist in the understanding of the financial statements. These policies conform to accounting principles generally accepted in the United States of America ("GAAP") and have been consistently applied.

***<u>Consolidated Financial Statements</u>***

These consolidated statements include the financial statements of the Company and its subsidiary company, Paramount Capital, Inc. All intercompany balances and transactions have been eliminated in consolidation.

***<u>Interim Financial Statements</u>***

The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial information in accordance with Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying condensed consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, changes in shareholders' deficit and cash flows as of January 31, 2023 and for the related periods presented, have been included. The results for the three and nine months period ended January 31, 2023 are not necessarily indicative of the results of operations for the full year. These financial statements and related footnotes should be read in conjunction with the financial statements and footnotes thereto for the years ended April 30, 2022 and 2021 included in our Form 10-K filed with the Securities and Exchange Commission on September 16, 2022.

***<u>Use of Estimates</u>***

The preparation of financial statements in conformity with GAAP 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 could differ from those estimates.

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

We maintain cash balances in a non-interest-bearing account that currently does not exceed federally insured limits. For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. As of January 31, 2023 and April 30, 2022, our cash balances were $463 and $5,161 respectively.

***<u>Fair Value of Financial Instruments</u>***

The fair value of cash, accounts payable and accrued liabilities and balance due to related parties approximates the carrying amount of these financial instruments due to their short maturity.

***<u>Related Party Transactions</u>***

A related party is generally defined as (i) any person that holds 10% or more of our membership interests including such person's immediate families, (ii) our management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with us, or (iv) anyone who can significantly influence our financial and operating decisions. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. See Note 4 below for details of related party transactions in the period presented.

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***<u>Income Taxes</u>***

The provision for income taxes is computed using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carry-forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

***<u>Uncertain Tax Positions</u>***

The Company evaluates tax positions in a two-step process. The Company first determine whether it is more likely than not that a tax position will be sustained upon examination, based on the technical merits of the position. If a tax position meets the more-likely-than-not recognition threshold, it is then measured to determine the amount of benefit to recognize in the financial statements. The tax position is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company classifies gross interest and penalties and unrecognized tax benefits that are not expected to result in payment or receipt of cash within one year as long-term liabilities in the financial statements.

***<u>Revenue Recognition</u>***

Revenues are recognized when control of promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements:

Step 1: Identify the contract(s) with customers

Step 2: Identify the performance obligations in the contract

Step 3: Determine the transaction price

Step 4: Allocate the transaction price to performance obligations

Step 5: Recognize revenue when the entity satisfies a performance obligation

At this time, the Company has not identified specific planned revenue streams.

During the nine months ended January 31, 2023 and January 31, 2022, the Company did not recognize any revenue.

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

The cost of equity instruments issued to employees and non-employees in return for goods and services is measured by the grant date fair value of the equity instruments issued in accordance with ASC 718, Compensation – Stock Compensation. The related expense is recognized as services are rendered or vesting periods elapse.

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

Basic net loss per common share is computed by dividing loss available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average shares outstanding, assuming all dilutive potential common shares were issued. Diluted earnings per share is not presented when their effect is anti-dilutive. No potential dilutive securities were issued and outstanding during the nine months ended January 31, 2023 and January 31, 2022.

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***<u>COVID-19 Uncertainties</u>***

The COVID-19 pandemic could have an impact on our ability to obtain financing to fund the operations. The Company is unable to predict the ultimate impact at this time.

***<u>Recently Accounting Pronouncements</u>***

There were various accounting standards and interpretations issued recently, none of which are expected to a have a material impact on our financial position, operations or cash flows due to our status as a shell corporation.

**NOTE 2. GOING CONCERN**

The Company's financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplate the realization of assets and the liquidation of liabilities in the normal course of business. For the nine months ended January 31, 2023, the Company reported a net loss of $35,184, and an accumulated deficit of $5,181,718 as of January 31, 2023. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of these uncertainties. The Company's ability to continue as a going concern is dependent upon its ability to develop additional sources of capital, locate and complete a merger with another company and ultimately achieve profitable operations. In the interim, the Company intends to rely upon continued advances from the Company's majority shareholder and affiliates to funds its working capital needs. No assurances can be given that the Company will be successful in locating or negotiating with any target company or that the majority shareholder and affiliates will continue to fund the Company's working capital needs. As a result, there is substantial doubt about the Company's ability to continue as a going concern.

**NOTE 3. MARKETABLE SECURITY**

On August 26, 2019, the Company acquired 33.33% of the issued and outstanding common shares of Australian Gold Commodities Ltd ("ACG"), an Australian company, for $100. At the time, the remaining 66.67% of the issued and outstanding common shares of ACG were beneficially owned by our principal shareholder, Copper Hill. Mr. Anthony Lococo, our former sole director, was appointed as a director of ACG.

Effective June 30, 2020, ACG completed a fund raising after which the Company's ownership interest was diluted to less than 1%.

As of January 31, 2023, it was determined that the historic cost of the marketable security equated to its fair market value as ACG has not commenced trading activities as yet.

**NOTE 4. DUE TO RELATED PARTIES**

As of April 30, 2022, the Company owed a total of $122,302 to related party companies: $30,408 to Apple iSports, $70,344 to Copper Hill and $21,550 to Mt. Wills.

During the nine months ended January 31, 2023, we received $38,800 from Apple iSports.

These advances were made to the Company to meet its working capital requirements and are unsecured, interest free and due on demand.

Mr. Anthony Lococo, our former sole officer and director, is an officer of Copper Hill.

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Mr. Marino Sussich, our current sole officer and director, is the controlling shareholder of Copper Hill.

Apple iSports, Inc. is an entity controlled by Copper Hill.

Mr. Anthony Lococo, our former sole officer and director, is a director of Mt. Wills.

Mr. Marino Sussich, our current sole officer and director, is a director and a controlling shareholder of Mt. Wills.

As of January 31, 2023, the Company owed a total of $161,102 to related party companies: $69,208 to Apple iSports, $70,344 to Copper Hill and $21,550 to Mt. Wills.

**NOTE 5. COMMITMENTS & CONTINGENCIES**

**Legal Proceedings**

We were not subject to any legal proceedings during the nine-month periods ended January 31, 2023 or 2022, and, to the best of our knowledge, no legal proceedings are pending or threatened.

**Contractual Obligations**

We are not party to any contractual obligations at this time.

**NOTE 6. STOCKHOLDERS' DEFICIT**

*<u>Preferred Stock</u>*

As of January 31, 2023, the Company was authorized to issue 50,000,000 shares of preferred stock with a par value of $0.0001.

On May 5, 2022, the Company amended its Articles of Incorporation by filing a Certificate of Amendment with the Nevada Secretary to increase the authorized shares of preferred stock of the Company, par value $0.0001, from 10,000,000 shares to 50,000,000 shares and all such shares be deemed "blank check" preferred shares in accordance with Article Seventeen of the Company's Amended and Restated Articles of Incorporation (filed with the Nevada Secretary of State on or about February 20, 2001).

No shares of preferred stock were issued or outstanding during the nine months ended January 31, 2023 and 2022.

*<u>Common Stock</u>*

As of January 31, 2023, the Company was authorized to issue 500,000,000 shares of common stock with a par value of $0.0001.

On May 5, 2022, the Company amended its Articles of Incorporation by filing a Certificate of Amendment with the Nevada Secretary of State which increased the authorized shares of common stock of the Company, par value $0.0001, from 200,000,000 shares to 500,000,000 shares.

During the nine months ended January 31, 2023 and 2022, no shares of common stock were issued.

As of January 31, 2023 and April 30, 2022, 7,642,211 shares of common stock were issued and 7,642,210 shares were outstanding, respectively.

*<u>Treasury Stock</u>*

The Company's treasury stock comprised one share of common stock acquired at a cost of $52,954.

**NOTE 7. SUBSEQUENT EVENTS**

We evaluated subsequent events after January 31, 2023, in accordance with FASB ASC 855 Subsequent Events, through the date of the issuance of these financial statements and has determined there have been no subsequent events for which disclosure is required accept as described below.

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

**Forward-Looking Statements**

*Certain statements made in this quarterly report on Form 10-Q are "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995) in regard to the plans and objectives of management for future operations. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the registrant to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements included herein are based on current expectations that involve numerous risks and uncertainties. The Company's plans and objectives are based, in part, on assumptions involving the continued expansion of business. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Although the Company believes its assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance the forward-looking statements included in this quarterly report will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the registrant or any other person that the objectives and plans of the registrant will be achieved.*

*Substantial risks exist with respect to an investment in the Company. These risks include but are not limited to, those factors discussed in our Annual Report on Form 10-K for the fiscal year ended April 30, 2022, filed with the Securities and Exchange Commission ("Commission") on September 16, 2022. More broadly, these factors include, but are not limited to:*

· *We have incurred significant losses and expect to incur future losses;*

· *Our current financial condition and immediate need for capital;*

· *Potential significant dilution resulting from the issuance of new securities for any funding, debt conversion or any business combination; and*

· *We are a "penny stock" company.*

**Description of Business**

The Company is a shell company as defined in Rule 12b-2 of the Exchange Act. Our principal business objective for the next 12 months and beyond such time will be to achieve long-term growth potential through a combination with a business rather than immediate, short-term earnings. The Company will not restrict our potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.

The Company currently does not engage in any business activities that provide cash flow. During the next twelve months we anticipate incurring costs related to:

(i) filing Exchange Act reports, and

(ii) investigating, analyzing and consummating an acquisition.

We believe we will be able to meet these costs through use of funds in our treasury, through deferral of fees by certain service providers and additional amounts, as necessary, to be loaned to or invested in us by our stockholders, management or other investors. As of the date of the period covered by this report, the Company has $463 in cash. There are no assurances that the Company will be able to secure any additional funding as needed. Currently, however our ability to continue as a going concern is dependent upon our ability to generate future profitable operations and/or to obtain the necessary financing to meet our obligations and repay our liabilities arising from normal business operations when they come due. Our ability to continue as a going concern is also dependent on our ability to find a suitable target company and enter into a possible reverse merger with such company. Management's plan includes obtaining additional funds by equity financing through a reverse merger transaction and/or related party advances; however, there is no assurance of additional funding being available.

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The Company may consider acquiring a business which has recently commenced operations, is a developing company in need of additional funds for expansion into new products or markets, is seeking to develop a new product or service, or is an established business which may be experiencing financial or operating difficulties and is in need of additional capital. In the alternative, a business combination may involve the acquisition of, or merger with, a company which does not need substantial additional capital but which desires to establish a public trading market for its shares while avoiding, among other things, the time delays, significant expense, and loss of voting control which may occur in a public offering.

Our management has not entered into any agreements with any party regarding a business combination. Any target business that is selected may be a financially unstable company or an entity in its early stages of development or growth, including entities without established records of sales or earnings. In that event, we will be subject to numerous risks inherent in the business and operations of financially unstable and early stage or potential emerging growth companies. In addition, we may effect a business combination with an entity in an industry characterized by a high level of risk, and, although our management will endeavor to evaluate the risks inherent in a particular target business, there can be no assurance that we will properly ascertain or assess all significant risks. Our management anticipates that it will likely be able to effect only one business combination, due primarily to our limited financing and the dilution of interest for present and prospective stockholders, which is likely to occur as a result of our management's plan to offer a controlling interest to a target business in order to achieve a tax-free reorganization. This lack of diversification should be considered a substantial risk in investing in us, because it will not permit us to offset potential losses from one venture against gains from another.

We will not acquire or merge with any entity which cannot provide audited financial statements at or within a reasonable period of time after closing of the proposed transaction. We are subject to all the reporting requirements included in the Exchange Act. Included in these requirements is our duty to file audited financial statements as part of our Form 8-K to be filed with the Securities and Exchange Commission upon consummation of a merger or acquisition, as well as our audited financial statements included in our annual report on Form 10-K. If such audited financial statements are not available at closing, or within time parameters necessary to ensure our compliance with the requirements of the Exchange Act, or if the audited financial statements provided do not conform to the representations made by the target business, the closing documents may provide that the proposed transaction will be voidable at the discretion of our present management.

A business combination with a target business will normally involve the transfer to the target business of the majority of our common stock, and the substitution by the target business of its own management and board of directors.

The Company anticipates that the selection of a business combination will be complex and extremely risky. Because of general economic conditions, rapid technological advances being made in some industries and shortages of available capital, our management believes that there are numerous firms seeking even the limited additional capital which we will have and/or the perceived benefits of becoming a publicly traded corporation. Such perceived benefits of becoming a publicly traded corporation include, among other things, facilitating or improving the terms on which additional equity financing may be obtained, providing liquidity for the principals of and investors in a business, creating a means for providing incentive stock options or similar benefits to key employees, and offering greater flexibility in structuring acquisitions, joint ventures and the like through the issuance of stock. Potentially available business combinations may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex.

We do not currently intend to retain any entity to act as a "finder" to identify and analyze the merits of potential target businesses.

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***Results of Operations***

No revenue has been generated by the Company during the three and nine months ended January 31, 2023 and 2022. It is unlikely the Company will have any revenues unless it is able to effect an acquisition or merger with an operating company, of which there can be no assurance. It is management's assertion that these circumstances may hinder the Company's ability to continue as a going concern. The Company's plan of operation for the next twelve months shall be to continue its efforts to locate suitable acquisition candidates.

*<u>For the three months ended January 31, 2023 and 2022</u>*

During the three months ended January 31, 2023 and 2022, the Company incurred a net loss of $8,962 and $8,615, respectively, comprised solely of general and administrative expenses, including consulting fees to implement our business plan, accounting and other professional service fees incurred in relation to the preparation and filing of the Company's periodic reports on Form 10-K, Form 10-Q and other reporting requirements.

The $347 increase in general and administrative expenses between the two periods was due to increases of $1,000 in consulting fees, $250 in accounting fees, $200 in audit fees, $50 in bank charges and $49 in share transfer agent fees which were partially offset by a decrease of $1,202 in legal incurred in the three months ended January 31, 2023 as compared to the three months ended January 31, 2022.

*<u>For the nine months ended January 31, 2023 and 2022</u>*

During the nine months ended January 31, 2023 and 2022, the Company incurred a net loss of $35,184 and $40,940, respectively, comprised solely of general and administrative expenses, including consulting fees to implement our business plan, accounting and other professional service fees incurred in relation to the preparation and filing of the Company's periodic reports on Form 10-K, Form 10-Q and other reporting requirements.

The $5,756 decrease in general and administrative expenses between the two periods was principally due to decreases of $5,750 in accounting fees, $4,500 in audit fees, $4,053 in legal fees, $2,339 in SEC filing fees and $54 in stock transfer agent fess which were partially offset by increases of $9,000 increase in consulting fees, $1,845 in tax return preparation fees and $95 in bank charges incurred in the nine months ended January 31, 2023 as compared to the nine months ended January 31, 2022.

***Liquidity and Capital Resources***

As of January 31, 2023, the Company had current assets of $463 consisting of all cash. This compares with current assets of $5,161 consisting of all cash as of April 30, 2022. The Company's current liabilities as of January 31, 2023 totaled $183,702: $22,600 relating to accounts payable and accrued liabilities and $161,102 due to related parties. This compares with current liabilities of $153,216 as of April 30, 2022, comprised of $30,914 of accounts payable and accrued liabilities and $122,302 due to related parties. The Company can provide no assurance that it can continue to satisfy its cash requirements for at least the next twelve months.

The following is a summary of the Company's cash flows provided by (used in) operating, investing, and financing activities for the nine months ended January 31, 2023 and 2022:

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|  | **Nine Months Ended**<br>**January 31,**<br>**2023** | **Nine Months Ended**<br>**January 31,**<br>**2022** |
| Net Cash Used in Operating Activities | $(43498) | $(39640) |
| Net Cash Used in Investing Activities |  |  |
| Net Cash Provided by Financing Activities | 38800 | 44549 |
| **Net Change in Cash** | $(4698) | $4909 |

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*Operating Activities*

During the nine months ended January 31, 2023, the Company incurred a net loss of $35,184 which, after adjusting for a decrease in accounts payable of $8,314, resulted in net cash of $43,498 being used in operating activities during the period. By comparison, during the nine months ended January 31, 2022, the Company incurred a net loss of $40,940 which, after adjusting for an increase in accounts payable of $1,300, resulted in net cash of $39,640 being used in operating activities during the period.

*Investing Activities*

The Company neither generated nor used funds in investing activities during the nine months ended January 31, 2023 and 2022.

*Financing Activities*

During the nine months ended January 31, 2023, the Company received $38,800 from financing activities by way of a loan from related parties. By comparison, during the nine months ended January 31, 2022, we received $44,549 from financing activities by way of a loan from related parties.

The Company is dependent upon the receipt of capital investment or other financing to fund its ongoing operations and to execute its business plan of seeking a combination with a private operating company. In addition, the Company is dependent upon certain related parties to provide continued funding and capital resources. No assurances can be given that the Company will be successful in locating or negotiating with any target company or that the related parties will continue to fund the Company's working capital needs. As a result, there is substantial doubt about the Company's ability to continue as a going concern.

Off-Balance Sheet Arrangements

The Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company's financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Contractual Obligations

None.

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

As a "smaller reporting company" as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

**Item 4. Controls and Procedures.**

Evaluation of Disclosure Controls and Procedures

In connection with the preparation of this quarterly report, an evaluation was carried out by the Company's management, with the participation of the principal executive officer and the principal financial officer, of the effectiveness of the Company's disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act ("Exchange Act") as of January 31, 2023. Disclosure controls and procedures are designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the Commission's rules and forms, and that such information is accumulated and communicated to management, including the principal executive officer and the principal financial officer, to allow timely decisions regarding required disclosures.

Based on that evaluation, the Company's management concluded, as of the end of the period covered by this report, that the Company's disclosure controls and procedures were not effective in recording, processing, summarizing, and reporting information required to be disclosed, within the time periods specified in the Commission's rules and forms, and that such information was not accumulated and communicated to management, including the principal executive officer and the principal financial officer, to allow timely decisions regarding required disclosures.

**Changes in Internal Controls over Financial Reporting**

During the quarter ended January 31, 2023, there has been no change in internal control over financial reporting that has materially affected or is reasonably likely to materially affect our internal control over financial reporting.

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**PART II**

**OTHER INFORMATION**

**Item 1. Legal Proceedings.**

There are presently no material pending legal proceedings to which the Company, any executive officer, any owner of record or beneficially of more than five percent of any class of voting securities is a party or as to which any of its property is subject, and no such proceedings are known to the Company to be threatened or contemplated against it.

**Item 1A. Risk Factors.**

As a "smaller reporting company" as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

**Item 2. Unregistered Sale 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.

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**SIGNATURES**

Pursuant to the requirements 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.

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|  | **PREVENTION INSURANCE.COM**  |
| Date: March 22, 2023 | */s/ Marino Sussich* |
|  | Marino Sussich<br>Chief Executive Officer |

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## Exhibit 31.1

**EXHIBIT 31.1**

**<u>Certification of the Company's Principal Executive Officer and Principal Financial Officer</u>**

**Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002**

**and Securities and Exchange Commission Release 34-46427**

I, Marino Sussich, certify that:

1. I have reviewed this report on Form 10-Q of Prevention Insurance.com;

2. Based on my knowledge, this annual 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 annual report;

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

4. As the registrant's sole certifying officer, 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. As the registrant's sole certifying officer, 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 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.

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| Date: March 22, 2023 | */s/ Marino Sussich* |
|  | Marino Sussich <br> President and CEO<br> (Principal Executive Officer, Principal <br> Financial Officer, and Principal Accounting Officer) |

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## Exhibit 32.1

**EXHIBIT 32.1**

**<u>Certification of Principal Executive Officer and Principal Financial Officer</u>**

**Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to**

**Section 906 of the Sarbanes-Oxley Act of 2002**

In connection with the Quarterly Report of Prevention Insurance.com (the "Company") on Form 10-Q for the period ended January 31, 2023 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Marino Sussich, certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge and belief:

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.

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| Date: March 22, 2023  | */s/ Marino Sussich* |
|  | Marino Sussich |
|  | President and CEO<br> (Principal Executive Officer, Principal<br> Financial Officer, and Principal Accounting Officer) |

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