# EDGAR Filing Document

**Accession Number:** 0001852707
**File Stem:** 0001062993-23-007119
**Filing Date:** 2023-3
**Character Count:** 13042
**Document Hash:** 4c1a8a8fbeaa422fadac41359245b061
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001062993-23-007119.hdr.sgml**: 20230317

**ACCESSION NUMBER**: 0001062993-23-007119

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230317

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230317

**DATE AS OF CHANGE**: 20230317

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Better For You Wellness, Inc.
- **CENTRAL INDEX KEY:** 0001852707
- **STANDARD INDUSTRIAL CLASSIFICATION:** PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56262
- **FILM NUMBER:** 23740789

**BUSINESS ADDRESS:**
- **STREET 1:** 1349 EAST BROAD STREET
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43205
- **BUSINESS PHONE:** 6143689898

**MAIL ADDRESS:**
- **STREET 1:** 1349 EAST BROAD STREET
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43205

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Fast Track Solutions, Inc.
- **DATE OF NAME CHANGE:** 20210322

?xml version="1.0" encoding="UTF-8"? Better For You Wellness, Inc.: Form 8-K - Filed by newsfilecorp.com

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

**___________________________**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported):  **<u>March 17, 2023</u>**

**<u>BETTER FOR YOU WELLNESS, INC.</u>**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
|  **<u>Nevada</u>** |  **<u>000-56262</u>** |  **<u>87-2903933</u>** |
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **1349 East Broad Street <u>Columbus, Ohio, United States 43205</u>** (Address of principal executive offices) (ZIP Code)

Registrant's telephone number, including area code: **<u>(614) 368-9898</u>**

**<u>Not Applicable</u>**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbols** | **Name of each exchange on which registered** |
| N/A | N/A | N/A |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).

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. ☐

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**Item 2.02 Results of Operations and Financial Condition.**

On March 16, 2023, Better For You Wellness, Inc. (the "Company") issued a press release announcing that it has filed amendments to its Quarterly Report on Form 10-Q for the period ended May 31, 2022, and its Quarterly Report on Form 10-Q for the period ended August 31, 2022 (each, an "Amended Quarterly Report" and together, the "Amended Quarterly Reports"). The information in this Item 7.01, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any of the Company's filings under the Securities Act, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference to this report in such filing.

**Item 7.01 Regulation FD Disclosure.**

The information set forth under Item 2.02 of this Current Report on Form 8-K is incorporated herein by reference.

The information under this Item 7.01 is being furnished and shall not be deemed to be "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. The information set forth under this Item 7.01 shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K.

**Item 9.01 Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits.

[99.1](exhibit99-1.htm) [Press Release, dated March 17, 2023.](exhibit99-1.htm) <br> <br> 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

**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 hereunto duly authorized.

---

| | |
|:---|:---|
|  | **BETTER FOR YOU WELLNESS, INC.** |
| Dated: March 17, 2023 | */s/ Ian James* |
|  | Ian James |
|  | Chief Executive Officer |

---

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## Exhibit 99.1

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**Better For You Wellness Provides Shareholder Update**

Columbus, Ohio--(Newsfile Corp. - March 17, 2023) - <u>Better For You Wellness, Inc.</u> (OTCQB: BFYW) ("Better For You Wellness" or the "Company"), an Ohio-based company focused on the rapidly-growing $1.5T wellness industry, announced it has filed amendments to its Quarterly Report on Form 10-Q for the period ended May 31, 2022, and its Quarterly Report on Form 10-Q for the period ended August 31, 2022 (each, an "Amended Quarterly Report" and together, the "Amended Quarterly Reports"). The Company's management concluded that in light of certain errors in the original Quarterly Reports on Form 10-Q for the period ended May 31, 2022, and the period ended August 31, 2022 (each, an "Initial Quarterly Report"), a material weakness existed in the Company's internal control over financial reporting related to the effectiveness of the design and operation of its disclosure controls and procedures as of May 31, 2022, and August 31, 2022. The material weakness prompted the Company to develop and begin implementing a remediation plan concerning such material weakness. The Amended Quarterly Reports filed today provides details of the Company's remediation plans.

Regarding the Amended Quarterly Reports, Ian James, Chief Executive Officer of Better For You Wellness, stated: "On January 31, 2023, the Company retained Dr. Pratibha Chaurasi as our new fractional CFO and added Aprari Solutions to assist with financial reporting and audit preparation. With their help, we meticulously and painstakingly worked to identify and rectify the material weakness in the Company's internal control over financial reporting." Mr. James continued, "Through our review process, we identified certain errors and began implementing a remediation plan to strengthen our internal controls and ensure accurate and timely SEC filings in the future. Retaining Dr. Chaurasi as fractional CFO has streamlined our closing and filing processes and allowed us to develop and implement the strong remediation plan detailed in the Amended Quarterly Reports."

Mr. James highlighted the following changes in the Amended Quarterly Report for the period ended May 31, 2022:

**1. Increased Assets** - Prepaid and other assets totaling $78,072 added, $583,586 of goodwill added, reversing a $577,473 impairment expense. The effect was to treat the Mango Moi acquisition as an investment rather than a write-down investment.

**2. Increased Total Assets** - Total assets of $674,133 compared to $10,338 in the Initial Quarterly Report for the period ended May 31, 2022.

**3. Convertible Note Payable** - Net of amortization reduced from $315,063 in the Initial Quarterly Report for the period ended May 31, 2022, to $254,369; reduced total liabilities from $674,503 in the Initial Quarterly Report for the period ended May 31, 2022, to $556,449.

**4. Stockholder's Equity (Deficit)** - Stockholders' equity increased from $(664,165) in the Initial Quarterly Report for the period ended May 31, 2022, to $117,684, as a result of an increase in additional paid-in-capital from $2,419,264 in the Initial Quarterly Report for the period ended May 31, 2022, to $2,609,749, representing an increase of $190,485. Additionally, the Company's accumulated deficit decreased from $3,121,510 in the Initial Quarterly Report for the period ended May 31, 2022, to $2,530,147, representing an improvement of $771,363 or approximately 25%.

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Mr. James also highlighted the following changes in the Amended Quarterly Report for the period ended August 31, 2022.

**1. Increased Assets** - Prepaid and other assets totaling $78,072 added, related party receivables of $107,068 added, and $583,485 of goodwill added. Other changes related to certain re-classifications to meet GAAP standards.

**2. Increased Total Assets** - Total assets of $778,011 compared to $695,375 in the Initial Quarterly Report for the period ended August 31, 2022.

**3. Convertible Note Payable** - Net of amortization increased from $521,593 in the Initial Quarterly Report for the period ended August 31, 2022, to $543,176; reduced total liabilities from $1,131,343 in the Initial Quarterly Report for the period ended August 31, 2022, to $1,105,403.

**4. Stockholder's Equity Deficit** - Stockholders' equity decreased from $435,968 in the Initial Quarterly Report for the period ended August 31, 2022, to $327,392 as a result of an increase in additional paid-in-capital from $2,820,220 in the Initial Quarterly Report for the period ended August 31, 2022, to $2,931,841, representing an increase of $111,621. The Company's accumulated deficit increased from $3,294,778 in the Initial Quarterly Report for the period ended August 31, 2022, to $3,297,824.

**About Better For You Wellness, Inc.**

Better For You Wellness, Inc. (OTCQB: BFYW) is a Columbus, Ohio-based Company pursuing a dual buy-and-build model within the wellness industry. Better For You Wellness, through its wholly owned subsidiaries, builds and operates digitally native, mission-driven brands within the clean beauty sector, including Mango Moi. Learn more at https://BFYW.com.

**Forward-Looking Statements**

*This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could," "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results may vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggested in this press release. Except as required by applicable law, we do not intend to update any forward-looking statements to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed with SEC (https://www.sec.gov/).*

**Contact:**

Better For You Wellness, Inc.

Ian James, CEO

investors@bfyw.com

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