# EDGAR Filing Document

**Accession Number:** 0002065492
**File Stem:** 0001683168-25-004398
**Filing Date:** 2025-6
**Character Count:** 324320
**Document Hash:** fa105414f175c2941ad10b003390aa87
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001683168-25-004398.hdr.sgml**: 20250611

**ACCESSION NUMBER**: 0001683168-25-004398

**CONFORMED SUBMISSION TYPE**: 1-A/A

**PUBLIC DOCUMENT COUNT**: 12

**FILED AS OF DATE**: 20250611

**DATE AS OF CHANGE**: 20250611

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Chelsea Tech, Inc.
- **CENTRAL INDEX KEY:** 0002065492
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 994793810
- **STATE OF INCORPORATION:** WY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 1-A/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 024-12618
- **FILM NUMBER:** 251039664

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** ROOM 10, LION ROCK INNOCENTRE
- **STREET 2:** 72 TAT CHEE AVENUE
- **CITY:** HONG KONG
- **PROVINCE COUNTRY:** F4
- **ZIP:** 999077
- **BUSINESS PHONE:** 949-933-1964

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** ROOM 10, LION ROCK INNOCENTRE
- **STREET 2:** 72 TAT CHEE AVENUE
- **CITY:** HONG KONG
- **PROVINCE COUNTRY:** F4
- **ZIP:** 999077

## Part

[**Table of Contents**](#a_100)

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 1-A/A**

**REGULATION A OFFERING CIRCULAR**

**UNDER THE SECURITIES ACT OF 1933**

**CHELSEA TECH, INC.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Wyoming** | **99-4793810** |
| (State or other jurisdiction of | (I.R.S. Employer |
| incorporation or organization) | Identification Number) |

---

<br> Primary Standard Industrial Classification Code Number

(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)

**Andy Chen**

**Chief Executive Officer**

 **6353 El Cajon Blvd., Ste. 124**

 **San Diego, CA 92115**

**+852 9033 2063**

(Name, address, including zip code, and telephone number, including area code, of agent for service)

***With a copy to:***

Randall Lanham, Attorney-at-Law

1816 Kimberly Lake Drive

Swansea, IL 62226

949.933.1964; (fax) 949.203.8633

lanhamlaw@outlook.com

PRELIMINARY OFFERING CIRCULAR

An Offering Circular pursuant to Regulation A relating to these securities has been filed with the Securities and Exchange Commission. Information contained in this Preliminary Offering Circular is subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted prior to the time an Offering Circular which is not designated as a Preliminary Offering Circular is delivered and the Offering Circular filed with the Commission becomes qualified. This Preliminary Offering Circular shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sales of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of any such state. We may elect to satisfy our obligation to deliver a Final Offering Circular by sending you a notice within two business days after the completion of our sale to you that contains the URL where the Final Offering Circular or the Offering Circular in which such Final Offering Circular was filed may be obtained.

Preliminary Offering Circular Subject to Completion, Dated June 11, 2025

**Form 1-A: Tier 1** 

**40,000,000 SHARES OF COMMON STOCK**

**CHELSEA TECH, INC.**

**Common Stock**

This is the initial public offering of securities of Chelsea Tech, Inc., a Wyoming corporation (the "Company," "Chelsea," "we," "our" and "us"). We are offering for sale a total of 40,000,000 shares of its common stock at a fixed price of $.50 cents U.S. per share in a "Tier 1 Offering" under Regulation A (the "Offering"). The Offering will terminate at the earlier of: (1) the date at which 40,000,000 Shares have been sold, (2) the date which is one year after this Offering being qualified by the U.S. Securities and Exchange Commission (the "SEC" or the "Commission"), or (3) the date on which this Offering is earlier terminated by the Company in its sole discretion (the "Termination Date"). This Offering is being conducted on a "best efforts" basis without any minimum offering amount pursuant to Regulation A of Section 3(6) of the Securities Act of 1933, as amended (the "Securities Act"), for Tier 1 offerings. Funds tendered by investors to the escrow account will be immediately available to the Company. Subscribers have no right to a return of their funds unless the Company rejects a subscription agreement within ten days of tender, in which event investor funds held in the Company account will promptly be refunded to each investor without interest. Randall J. Lanham, Esq. will serve as the escrow agent. Investors must purchase a minimum of 1,000 shares ($500).

Subscriptions are irrevocable, and the purchase price is non-refundable as expressly stated in this Offering Circular. As there is no minimum offering, upon the approval of any subscription to this Offering Circular, the Company shall have the right to immediately deposit said proceeds into the bank account of the Company and may utilize the proceeds immediately in accordance with the Use of Proceeds.

We expect to commence the offer and sale of the Shares as of the date on which the offering statement of which this Offering Circular is a part (the "Offering Statement") is qualified by the SEC. Prior to this Offering, there has been no public market for our Common Stock. We intend to apply to list our Common Stock on the OTC Pink Sheets. We will request a market maker to file Rule 211 application with the Financial Industry Regulatory Authority ("FINRA") to obtain a trade symbol for our common stock. Such efforts may not be successful, and our shares may never be quoted and owners of our common stock may not have a market in which to sell the shares. In any event, our common stock will not be quoted on the OTC Pink Sheets Marketplace, until after the termination of this Offering.

We have elected to comply with certain reduced reporting requirements for this Offering Circular and future filings after this Offering.

**THIS INVESTMENT INVOLVES A HIGH DEGREE OF RISK. YOU SHOULD PURCHASE ONLY IF YOU CAN AFFORD A COMPLETE LOSS OF YOUR INVESTMENT. SEE "[RISK FACTORS](#a_002)" BEGINNING ON PAGE 3.**

---

| | | |
|:---|:---|:---|
|  | **Maximum**<br> **Number of Shares** | **Offering Price** |
| Per Share | 1 | $.50 – $.50 |
| **Total** | 40000000 | $20000000 – $20000000 |

---

**THE SEC DOES NOT PASS UPON THE MERITS OF OR GIVE ITS APPROVAL TO ANY SECURITIES OFFERED OR THE TERMS OF THE OFFERING, NOR DOES IT PASS UPON THE ACCURACY OR COMPLETENESS OF ANY OFFERING CIRCULAR OR OTHER SOLICITATION MATERIALS. THESE SECURITIES ARE OFFERED PURSUANT TO AN EXEMPTION FROM REGISTRATION WITH THE COMMISSION; HOWEVER, THE SEC HAS NOT MADE AN INDEPENDENT DETERMINATION THAT THE SECURITIES OFFERED ARE EXEMPT FROM REGISTRATION.**

The date of this offering circular is June __, 2025

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| **Contents** |  |
| [OFFERING CIRCULAR SUMMARY](#a_001) | 1 |
| [RISK FACTORS](#a_002) | 3 |
| [USE OF PROCEEDS](#a_003) | 10 |
| [THE OFFERING](#a_004) | 11 |
| [DILUTION](#a_005) | 16 |
| [DIVIDEND POLICY](#a_006) | 17 |
| [MARKET FOR OUR SECURITIES](#a_007) | 18 |
| [MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION](#a_008) | 20 |
| [BUSINESS](#a_009) | 23 |
| [DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS, AND CONTROL PERSONS](#a_010) | 25 |
| [PRINCIPAL SHAREHOLDERS](#a_011) | 28 |
| [CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS](#a_012) | 29 |
| [DESCRIPTION OF CAPITAL STOCK](#a_013) | 30 |
| [LEGAL MATTERS](#a_014) | 36 |
| [EXPERTS](#a_015) | 36 |
| [WHERE YOU CAN FIND MORE INFORMATION](#a_016) | 36 |
| [INDEX TO FINANCIAL STATEMENTS](#a_017) | F-1 |

---

i

**OFFERING CIRCULAR SUMMARY**

 *About Chelsea Tech, Inc.:*

Chelsea Tech, Inc. (the "Company" or "Chelsea") is a corporation formed under the laws of the State of Wyoming on June 3, 2024 and headquartered in San Diego, CA. Chelsea is a new-generation technology company focusing on the promotion of "Metaverse" and "NFT" art. NFT are is digital artwork tokenized as a "Non-Fungible Token", is digital art that is represented by a unique identifier on the blockchain, allowing for verifiable ownership and authenticity. This means that while anyone can copy a digital image, only one person can legally own the original NFT representing that image. NFT art can encompass a wide range of digital artwork, including digital paintings, music, videos, and more.

On June 27, 2024, the Company entered into a Share Exchange Agreement (the "Agreement") with CanvasLand Limited ("CanvasLand") a Hong-Kong based artificial intelligence ("AI") company attached hereto as an exhibit. The Agreement called for the shareholders of CanvasLand to sell, transfer, convey, assign and deliver to Chelsea all of CanvasLand shares free and clear of all Liens in exchange for issuance of Chelsea shares to the shareholders of Canvasland on a pro rata basis, in the amounts and to the individual shareholders of CanvasLand.

CanvasLand is now a wholly owned subsidiary of Chelsea pursuant to the Share Exchange Agreement. CanvasLand is the owner of certain patents, technical information, trademarks, proprietary software and intellectual property (collectively, "IP") creating a metaverse that allows Chelsea to conduct a money service business ("MSB"). CanvasLand warrants that its MSB operations comply with **FinCEN regulations**, including AML/KYC requirements and that Chelsea will bear no liability for its financial activities. The Platform's innovative approach includes gamification, Metaverse solutions, and rewards, which enhance customer engagement and drive revenue growth for partner businesses.

Chelsea and its wholly owned subsidiary, CanvasLand, have cooperative artists and designers ("The Collaborators") who are responsible for designing and building different Metaverse platforms, as well as promoting NFT transactions and collections. The Collaborators is focusing on Metaverse technology and developing related information technology services for virtual world programs - information technology consulting services.

The proceeds of this offering will be used to expand our marketing efforts to make the availability of our services known to not just gamers, but to the general public as well as for initial working capital.

*The Offering*

---

| | |
|:---|:---|
| Shares of common stock offered by us | A maximum of 40,000,000 shares. There is no minimum number of shares that must be sold by us for the offering to close. |
| Use of proceeds | Chelsea will apply the proceeds from the offering to make the availability of our services known to not to just gamers but to the general public as well as for initial working capital. |
| Termination of the offering | The Offering will terminate at the earlier of: (1) the date at which 40,000,000 Shares have been sold, (2) the date which is one year after this Offering being qualified by the SEC or (3) the date on which this Offering is earlier terminated by the Company in its sole discretion. |
| Risk factors | The purchase of our common stock involves a high degree of risk. The common stock offered in this offering circular is for investment purposes only and currently no market for our common stock exists nor may ever exist.<br>Please refer to the sections entitled "[Risk Factors](#a_002)" and "[Dilution](#a_005)" before making an investment in this stock. |
| Trading Market  | None. We will request a market maker to file a Rule 211 application with FINRA to obtain a trade symbol for our common stock. However, such efforts may not be successful and our shares may never be quoted and owners of our common stock may not have a market in which to sell the shares. Also, no estimate may be given as to the time that this application process will require. <br> Even if Chelsea's common stock is quoted or granted listing, a market for the common shares may not develop. |

---

As a company with less than $1.0 billion in revenue during its last fiscal year, we will qualify as an "emerging growth company" as defined in the JOBS Act if and when we become a fully reporting company. For as long as a company is deemed to be an emerging growth company, it may take advantage of specified reduced reporting and other regulatory requirements that are generally unavailable to other public companies. These provisions include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· a requirement to have only two years of audited financial statements and
only two years of related Management's Discussion and Analysis included in an initial public offering registration statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· an exemption to provide less than five years of selected financial data in
an initial public offering registration statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· an exemption from the auditor attestation requirement in the assessment of
the emerging growth company's internal controls over financial reporting;

· an exemption from the adoption of new or revised financial accounting standards
until they would apply to private companies;

· an exemption from compliance with any new requirements adopted by the Public
Company Accounting Oversight Board requiring mandatory audit firm rotation or a supplement to the auditor's report in which the auditor
would be required to provide additional information about the audit and the financial statements of the issuer;

· reduced disclosure about the emerging growth company's executive compensation
arrangements; and

· be exempt from the "say on pay" provisions (requiring a non-binding
shareholder vote to approve compensation of certain executive officers) and the "say on golden parachute" provisions (requiring
a non-binding shareholder vote to approve golden parachute arrangements for certain executive officers in connection with mergers and
certain other business combinations) of The Dodd–Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act")
and certain disclosure requirements of the Dodd-Frank Act relating to compensation of Chief Executive Officers;

As an emerging growth company, we will also be exempt from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Section 404(b) of Sarbanes Oxley which requires that the registered accounting
firm shall attest to and report on the assessment on the effectiveness of the internal control structure and procedures for financial
reporting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Section 14A (a) and (b) of the Securities Exchange Act of 1934 which require
shareholder approval of executive compensation and golden parachutes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Section 107 of the JOBS Act provides that an emerging growth company
can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised
accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards
would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Our
financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.

We would cease to be an emerging growth company upon the earliest of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the first fiscal year following the fifth anniversary of this offering,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the first fiscal year after our annual gross revenues are $1 billion or more,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the date on which we have, during the previous three-year period, issued
more than $1 billion in non-convertible debt securities, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· as of the end of any fiscal year in which the market value of our common
stock held by non-affiliates exceeded $700 million as of the end of the second quarter of that fiscal year.

Because of limitations that exist for an emerging growth company, we intend to become an Exchange Act Reporting Company after this offering is completed. However, we cannot provide assurances as to the likely time period when this will be achieved.

**RISK FACTORS**

You should be aware that there are various risks to an investment in our common stock. You should carefully consider these risk factors, together with all of the other information included in this offering circular, before you decide to invest in shares of our common stock.

If any of the following risks were to develop, our business, financial condition, results of operations and/or prospects could be materially adversely affected. If that happens, the market price of our common stock, if any, could decline, and investors may lose all or part of their investment.

**Risks Related to the Business**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1. Chelsea is an early-stage company and has limited financial resources.***

Chelsea Tech, Inc. (Chelsea) is a corporation formed under the laws of the State of Wyoming on June 3, 2024 and head quartered in San Diego, California. Although CanvasLand is now a wholly owned subsidiary of Chelsea pursuant to the Share Exchange Agreement. Chelsea is still a new-generation technology company focusing on the promotion of "Metaverse" and art NFT. They have cooperative artists and designers who are responsible for designing and building different Metaverse platforms, as well as promoting NFT transactions and collections. The Collaborators is focusing on Metaverse technology and developing related information technology services for virtual world programs - information technology consulting services. Our financials included an explanatory paragraph stating as of and for the year ended March 31, 2025 that states that this lack of resources causes substantial doubt about our ability to continue as a going concern. No assurances can be given that we will generate sufficient revenue or obtain necessary financing to continue as a going concern.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2. Chelsea is and will continue to be completely dependent on the services of key personal including, but not limited to, our President and CEO, Andy Chen, the loss of whose services may cause our business operations to cease, and we will need to engage and retain qualified employees and consultants to further implement our strategy.***

Chelsea's operations and business strategy are completely dependent upon the knowledge and business connections of Andy Chen. If he should choose to leave us for any reason or if he becomes ill and unable to work for an extended period of time before we have hired additional personnel, our operations will likely stagnate or fail. Even if we are able to find additional personnel, it is uncertain whether we could find someone who could develop our business along the lines described in this Form 1-A. We will fail without the services of Andy Chen or an appropriate replacement(s).

We intend to acquire key-man life insurance on the life of Andy Chen naming Chelsea as the beneficiary when and if we obtain the resources to do so and if he is insurable. We have not yet procured such insurance, and there is no guarantee that we will be able to obtain such insurance in the future. Accordingly, it is important that we are able to attract, motivate and retain highly qualified and talented personnel and independent contractors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3. Our CEO, Andy Chen, has no significant experience managing a public company and no meaningful financial reporting education or experience and, accordingly, our ability to meet Exchange Act reporting requirements on a timely basis will be dependent to a significant degree upon third party consultants and advisors.*** <u>(this is for risk purposes only, just for protection)</u>

Andy Chen has no significant experience managing a public company and no meaningful financial reporting education or experience. He is and will be heavily dependent on engaging and dealing with outside professional advisors, primarily lawyers and financial advisors/accountants who are and will not be affiliated with our independent auditors. We have no formal arrangements with professionals to help Mr. Eng Wah Kung and cannot provide any assurances that we will be able to establish arrangements with professionals on terms or costs that are acceptable or affordable to us.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4. We will become subject to the periodic reporting requirements of the Securities Exchange Act of 1934, which requires us to incur accounting and legal fees in connection with the preparation of such reports. These additional costs could reduce or eliminate our ability to fund our operations and may prevent us from meeting our normal business obligations.***

At the present time Chelsea has no plans to elect to become subject to file periodic reporting requirements of the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder. If at some point in the future Chelsea does elect to do so, in order to comply with these regulations, our independent registered public accounting firm has to review our financial statements on a quarterly basis and audit our financial statements on an annual basis. Moreover, our legal counsel or other professional has to review and assist in the preparation of such reports. The future costs charged by these professionals for such services cannot be accurately predicted at this time because factors such as the number and type of transactions that we engage in and the complexity of our reports cannot be determined at this time and will have a major effect on the amount of time to be spent by our auditors and attorneys.

We do not have a sufficient number of employees to segregate responsibilities and may be unable to afford increasing our staff or engaging outside consultants or professionals to overcome our lack of employees. Moreover, effective internal controls, particularly those related to revenue recognition, are necessary for us to produce reliable financial reports and are important to help prevent financial fraud. If we cannot provide reliable financial reports or prevent fraud, our business and operating results could be harmed, investors could lose confidence in our reported financial information, and the trading price of our common stock, if a market ever develops, could drop significantly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5. We have only two directors.***

We have only two directors, one of whom is our President & CEO, Andy Chen and the other is our Chief Financial Officer, Eng Wah Kung. Accordingly, we cannot establish board committees comprised of independent members to oversee functions like the decisions of the chief executive officer, compensation or audit issues.

Until we have a larger board of directors which would include some independent members, if ever, there will be limited oversight of our president's decisions and activities and little ability for minority shareholders to challenge or reverse those activities and decisions, even if they are not in the best interests of minority shareholders.

**Risks Related to Our Common Stock**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***6. Our Offering is being conducted on a "best efforts" basis and does not require a minimum amount to be raised. As a result, we may not be able to raise enough funds to fully implement our business plan and our investors may lose their entire investment.***

The Offering is on a "best efforts" basis and does not require a minimum amount to be raised. If we are not able to raise sufficient funds, we may not be able to fund our operations as planned, and our growth opportunities may be materially adversely affected. This could increase the likelihood that an investor may lose their entire investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***7. You will experience immediate and substantial dilution as a result of this Offering***.

You will incur immediate and substantial dilution as a result of this Offering. Purchasers may be diluted by more than 75% of their purchase value depending on how many shares are sold.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***8. Shareholders may be diluted significantly because of the issuance of convertible financial instruments through our efforts to obtain financing and satisfy obligations through issuance of additional shares of our common stock.***

We have no committed source of financing. Wherever possible, our board of directors will attempt to use non-cash consideration to satisfy obligations or other products. In many instances, we believe that the non-cash consideration will consist of restricted shares of our common stock. Our board of directors has authority, without action or vote of the shareholders, to issue all or part of the authorized but unissued shares. In addition, if a trading market develops for our common stock, we may attempt to raise capital by selling shares of our common stock, possibly at a discount to market. These actions will result in dilution of the ownership interests of existing shareholders may further dilute common stock book value, and that dilution may be material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***9. The interests of shareholders may be hurt because we can issue shares of our common stock to individuals or entities that support existing management with such issuances serving to enhance existing management's ability to maintain control of our Company.***

Our president and chairman own a significant majority of outstanding shares. In addition, our board of directors has authority, without action or vote of the shareholders, to issue all or part of the authorized but unissued common shares. Such issuances may be issued to parties or entities committed to supporting existing management and the interests of existing management which may not be the same as the interests of other shareholders. Although transactions, other than those described in this offering circular, are not currently being contemplated or discussed, our ability to issue shares without shareholder approval serves to enhance existing management's ability to maintain control of our Company or participate in other transactions, including entering into possible business combinations, without the support of other shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10. Our articles of incorporation provide for indemnification of officers and directors at our expense and limit their liability that may result in a major cost to us and hurt the interests of our shareholders because corporate resources may be expended for the benefit of officers and/or directors.***

Our Articles and Bylaws of Incorporation provide that the Company indemnify its officers and directors to the fullest extent allowed under the laws of the State of Wyoming.

We have been advised that, in the opinion of the SEC, indemnification for liabilities arising under federal securities laws is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification for liabilities arising under federal securities laws, other than the payment by us of expenses incurred or paid by a director, officer or controlling person in the successful defense of any action, suit or proceeding, is asserted by a director, officer or controlling person in connection with our activities, we will (unless in the opinion of our counsel, the matter has been settled by controlling precedent) submit to a court of appropriate jurisdiction, the question whether indemnification by us is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue. The legal process relating to this matter if it were to occur is likely to be very costly and may result in us receiving negative publicity, either of which factors is likely to materially reduce the market and price for our shares, if such a market ever develops.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***11. Currently, there is no established public market for our securities, and there can be no assurances that any established public market will ever develop and, even if trading begins, it is likely to be subject to significant price fluctuations.***

Prior to the date of this offering circular, there has not been any established trading market for our common stock, and there is currently no established public market whatsoever for our securities. We will approach a market maker to file an application with FINRA on our behalf so as to be able to quote the shares of our common stock on the OTC PINKS or Pink Sheets commencing upon the qualification of our offering statement of which this offering circular is a part and the subsequent closing of this offering. There can be no assurance that the market maker's application will be accepted by FINRA nor can we estimate as to the time period that the application will require or that any buying of our shares will ever take place.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***12. Any market that develops in shares of our common stock may become subject to the penny stock regulations and restrictions pertaining to low priced stocks that will create a lack of liquidity and make trading difficult or impossible.***

It is possible that our shares may become considered a "penny stock" in the future. Rule 3a51-1 of the Exchange Act establishes the definition of a "penny stock," for purposes relevant to us, as any equity security that has a minimum bid price of less than $5.00 per share or with an exercise price of less than $5.00 per share, subject to a limited number of exceptions which are not available to us. This classification will severely and adversely affect any market liquidity for our common stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***13. Our board of directors has the authority, without stockholder approval, to issue preferred stock with terms that may not be beneficial to common stockholders and with the ability to affect adversely stockholder voting power and perpetuate their control.***

Our articles of incorporation allow us to issue shares of preferred stock without any vote or further action by our stockholders.

Our board of directors has the authority to fix and determine the relative rights and preferences of preferred stock. Our board of directors also has the authority to issue preferred stock without further stockholder approval. Thus, our board of directors could authorize the issuance of a series of preferred stock that would grant to holders the preferred right to our assets upon liquidation, the right to receive dividend payments before dividends are distributed to the holders of common stock and the right to the redemption of the shares, together with a premium, prior to the redemption of our common stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***14. The ability of our executive officers and directors to control our business may limit or eliminate minority shareholders' ability to influence corporate affairs.***

Our executive officers and directors beneficially own 85% of the currently outstanding common stock. Because of this beneficial stock ownership, they will be in a position to continue to elect our board of directors, decide all matters requiring stockholder approval, including potential mergers or business changes, and determine our policies. The interests of our executive officers and directors may differ from the interests of other shareholders with respect to the issuance of shares, business transactions with or sales to other companies, selection of officers and directors and other business decisions. The other shareholders would have no way of overriding decisions made by our executive officers and directors. This level of control may also have an adverse impact on the market value of our shares because our three executive officers may institute or undertake transactions, policies or programs that may result in losses, may not take any steps to increase our visibility in the financial community and/or may sell sufficient numbers of shares to significantly decrease our price per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***15. A significant portion of our presently issued and outstanding common shares are restricted under rule 144 of the Securities Act, as amended. If and when the restriction on any or all of these shares is lifted, and the shares are sold in the open market, the price of our common stock could be adversely affected.***

A significant portion of the presently outstanding shares of common stock are "restricted securities" as defined under Rule 144 promulgated under the Securities Act and may only be sold pursuant to an effective registration statement or an exemption from registration, if available. Rule 144 provides in essence that a person who is not an affiliate and has held restricted securities for a prescribed period of at least six months if purchased from a reporting issuer or 12 months (as is the case herein) if purchased from a non-reporting Company, may, under certain conditions, sell all or any of his/her shares without volume limitation, in brokerage transactions. Affiliates, however, may not sell shares in excess of 1% of the Company's outstanding common stock each three-month period. As a result of revisions to Rule 144 which became effective on February 15, 2008, there is no limit on the amount of restricted securities that may be sold by a non-affiliate (i.e., a stockholder who has not been an officer, director or control person for at least 90 consecutive days) after the restricted securities have been held by the owner for the aforementioned prescribed period of time. A sale under Rule 144 or under any other exemption from the Act, if available, or pursuant to registration of shares of common stock of present stockholders, may have a depressive effect upon the price of the common stock in any market that may develop.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***16. We do not expect to pay cash dividends in the foreseeable future.***

We have never paid cash dividends on our common stock. We do not expect to pay cash dividends on our common stock at any time in the foreseeable future. The future payment of dividends directly depends upon our future earnings, capital requirements, financial requirements and other factors that our board of directors will consider. Since we do not anticipate paying cash dividends on our common stock, return on your investment, if any, will depend solely on an increase, if any, in the market value of our common stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***17. As an emerging growth company, our independent auditor is not required to attest to the effectiveness of our internal controls.***

Our independent registered public accounting firm is not required to attest to the effectiveness of our internal control over financial reporting while we are an emerging growth company. This means that the effectiveness of our financial operations may differ from our peer companies in that they may be required to obtain independent registered public accounting firm attestations as to the effectiveness of their internal controls over financial reporting and we are not. While our management will be required to attest to internal control over financial reporting and we will be required to detail changes to our internal controls on a quarterly basis, we cannot provide assurance that the independent registered public accounting firm's review process in assessing the effectiveness of our internal controls over financial reporting, if obtained, would not find one or more material weaknesses or significant deficiencies. Further, once we cease to be an emerging growth company we will be subject to independent registered public accounting firm attestation regarding the effectiveness of our internal controls over financial reporting. Even if management finds such controls to be effective, our independent registered public accounting firm may decline to attest to the effectiveness of such internal controls and issue a qualified report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***18. Because we are not subject to compliance with rules requiring the adoption of certain corporate governance measures, our stockholders have limited protection against interested director transactions, conflicts of interest and similar matters.***

The Sarbanes-Oxley Act of 2002, as well as rule changes proposed and enacted by the SEC, the New York and NYSE Market and the Nasdaq Stock Market, as a result of Sarbanes-Oxley, require the implementation of various measures relating to corporate governance. These measures are designed to enhance the integrity of corporate management and the securities markets and apply to securities that are listed on those exchanges or the Nasdaq Stock Market. Because we are not presently required to comply with many of the corporate governance provisions and because we chose to avoid incurring the substantial additional costs associated with such compliance any sooner than legally required, we have not yet adopted these measures.

We do not currently have independent audit or compensation committees. As a result, our president and our only other officer have the ability, among other things, to determine their own level of compensation. Until we comply with such corporate governance measures, regardless of whether such compliance is required, the absence of such standards of corporate governance may leave our stockholders without protections against interested director transactions, conflicts of interest, if any, and similar matters and investors may be reluctant to provide us with funds necessary to expand our operations.

We intend to comply with all corporate governance measures relating to director independence as and when required. However, we may find it very difficult or be unable to attract and retain qualified officers, directors and members of board committees required to provide for our effective management as a result of Sarbanes-Oxley Act of 2002. The enactment of the Sarbanes-Oxley Act of 2002 has resulted in a series of rules and regulations by the SEC that increase responsibilities and liabilities of directors and executive officers. The perceived increased personal risk associated with these recent changes may make it more costly or deter qualified individuals from accepting these roles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***19. Our shares may not become eligible to be traded electronically which would result in brokerage firms being unwilling to trade them.***

If we become able to have our shares of common stock quoted on the OTC PINKS or Pink Sheets, we will then try, through a broker-dealer and its clearing firm, to become eligible with the Depository Trust Company ("DTC") to permit our shares to trade electronically. If an issuer is not "DTC-eligible," then its shares cannot be electronically transferred between brokerage accounts, which, based on the realities of the marketplace as it exists today (especially the OTC PINKS), means that shares of a company will not be traded (technically the shares can be traded manually between accounts, but this takes days and is not a realistic option for companies relying on broker dealers for stock transactions - like all companies on the OTC PINKS. What this means is that while DTC-eligibility is not a requirement to trade on the OTC PINKS, it is a necessity to process trades on the OTC PINKS if a company's stock is going to trade with any volume. There are no assurances that our shares will ever become DTC-eligible or, if they do, how long it will take.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***20. Simply because we complete this offering does not mean Chelsea will become a public reporting company under the Exchange Act. At the present time, Chelsea does not have any intention to do so, however, if we do so elect to become a reporting company un the Act, we will be subject to ongoing public reporting requirements that are less rigorous than Exchange Act rules for companies that are not "emerging growth companies", and our stockholders could receive less information than they might expect to receive from more mature public companies.***

If Chelsea ever elects to become a public reporting company under the Exchange Act. We will be required to publicly report on an ongoing basis as an "emerging growth company" (as defined in the JOBS Act) under the reporting rules set forth under the Exchange Act. For so long as we remain an "emerging growth company," we may take advantage of certain exemptions from various reporting requirements that are applicable to other Exchange Act reporting companies that are not "emerging growth companies," including but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not being required to comply with the auditor attestation requirements of
Section 404 of the Sarbanes-Oxley Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· taking advantage of extensions of time to comply with certain new or revised
financial accounting standards;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· being permitted to comply with reduced disclosure obligations regarding executive
compensation in our periodic reports and proxy statements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· being exempt from the requirement to hold a non-binding advisory vote on
executive compensation and stockholder approval of any golden parachute payments not previously approved.

We expect to take advantage of these reporting exemptions until we are no longer an emerging growth company. We would remain an emerging growth company for up to five years, although if the market value of our Common Stock that is held by non-affiliates exceeds $700 million before that time, we would cease to be an emerging growth company.

If we elect not to become a public reporting company under the Exchange Act, we will not be required to publicly report on an ongoing basis, under the reporting rules set forth in Regulation A for Tier 1 issuers there is no ongoing reporting requirements under Regulation A are more relaxed than for emerging growth companies under the Exchange Act. The differences include, but are not limited to, being required to file only annual and semiannual reports, rather than annual and quarterly reports. Annual reports are due within 120 calendar days after the end of the issuer's fiscal year, and semiannual reports are due within 90 calendar days after the end of the first six months of the issuer's fiscal year. If we elect not to become a public reporting company our Common Stock will not be permitted to trade on a national securities exchange such as the NYSE MKT.

In either case, we will not be subject to ongoing public reporting requirements that are less rigorous than Exchange Act rules for companies that are not "emerging growth companies," and our stockholders would receive less information than they might expect to receive from more mature public companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***21. Our financial statements may not be comparable to those of companies that comply with new or revised accounting standards.***

We have elected to take advantage of the benefits of the extended transition period that Section 107 of the JOBS Act provides an emerging growth company, as provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. Our financial statements may, therefore, not be comparable to those of companies that comply with such new or revised accounting standards.

Because the JOBS Act has only recently been enacted, we cannot predict if investors will find our common stock less attractive because we may rely on these exemptions. If some investors find our common stock less attractive as a result, there may be a less active trading market for our common stock and our stock price may be more volatile.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22. Our status as an "emerging growth company" under the JOBS Act OF 2012 may make it more difficult to raise capital when we need to do so.***

Because of the exemptions from various reporting requirements provided to us as an "emerging growth company" and because we will have an extended transition period for complying with new or revised financial accounting standards, we may be less attractive to investors, and it may be difficult for us to raise additional capital as and when we need it. Investors may be unable to compare our business with other companies in our industry if they believe that our financial accounting is not as transparent as other companies in our industry. If we are unable to raise additional capital as and when we need it, our financial condition and results of operations may be materially and adversely affected.

If we are not an Exchange Act Reporting Company, we will also be limited in the types of securities we can issue in exchange for funds and/or services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***23. We will not be required to comply with certain provisions of the Sarbanes-Oxley Act for as long as we remain an "emerging growth company."***

We are not currently required to comply with the SEC rules that implement Sections 302 and 404 of the Sarbanes-Oxley Act and are therefore not required to make a formal assessment of the effectiveness of our internal controls over financial reporting for that purpose. Upon becoming a public company, we will be required to comply with certain of these rules, which will require management to certify financial and other information in our quarterly and annual reports and provide an annual management report on the effectiveness of our internal control over financial reporting. Though we will be required to disclose changes made in our internal control procedures on a quarterly basis, we will not be required to make our first annual assessment of our internal control over financial reporting pursuant to Section 404 until the later of (i) the year following our first annual report required to be filed with the SEC or (ii) the date we are no longer an "emerging growth company" as defined in the JOBS Act.

Our independent registered public accounting firm is not required to formally attest to the effectiveness of our internal control over financial reporting until the later of the year following our first annual report required to be filed with the SEC, or the date we are no longer an "emerging growth company." At such time, our independent registered public accounting firm may issue a report that is adverse in the event it is not satisfied with the level at which our controls are documented, designed or operating.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***24. Reduced disclosure requirements applicable to emerging growth companies may make our common stock less attractive to investors.***

As an "emerging growth company", we may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not "emerging growth companies" including not being required to comply with the auditor attestation requirements of section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. We cannot predict if investors will find our common stock less attractive because we may rely on these exemptions. If some investors find our common stock less attractive as a result, there may be a less active trading market for our common stock and our stock price may be more volatile.

 

*For all the foregoing reasons and others set forth herein, an investment in the Company's securities in any market which may develop in the future involves a high degree of risk.*

**USE OF PROCEEDS**

Chelsea will apply the proceeds from the offering to hire people for marketing and administrative purposes and to undertake other marketing efforts.

Chelsea will not undertake projects requiring cash outlays until and unless revenues or resources are sufficient to cover such outlays.

**THE OFFERING**

Chelsea is offering a total of 40,000,000 shares of common stock for sale at a fixed price of $.50 cents per share. Investors must purchase a minimum of 1,000 shares ($500). There is no minimum number of shares that must be sold by us for the offering to close, and we will retain the proceeds from the sale of any of the offered shares that are sold. If we only sell a limited number of shares in this Offering, our President will seek to raise funds privately to enable us to implement our business plan. However, her resources are limited and no assurances can be given as to the likelihood of his success in this regard. Therefore, investors in this Offering do incur a risk of losing their entire investment.

The offering is being conducted on a best-efforts basis without any minimum number of shares or amount of proceeds required to be sold. The Company will not initially sell the Shares through commissioned broker-dealers but may do so after the commencement of the offering. Any such arrangement will add to our expenses in connection with the offering. If we engage one or more commissioned sales agents or underwriters, we will supplement this Form 1-A to describe the arrangement. No compensation will be paid to any principal, the officers, or any affiliated company or party with respect to the sale of the Shares. This means that no compensation will be paid with respect to the sale of the Shares to our officer or directors of the Company. We are relying on Rule 3a4-1 of the Securities Exchange Act of 1934, *Associated Persons of an Issuer Deemed not to be Brokers*. The applicable portions of the rule state that associated persons (including companies) of an issuer shall not be deemed brokers if they (a) perform substantial duties at the end of the offering for the issuer; (b) are not broker dealers; and (c) do not participate in selling securities more than once every 12 months, except for any of the following activities: (i) preparing written communication, but no oral solicitation; or (ii) responding to inquiries provided that the content is contained in the applicable registration statement; or (iii) performing clerical work in effecting any transaction. Neither the Company, its officers or directors, nor any affiliates conduct any activities that fall outside of Rule 3a4-1 and are, therefore, not brokers nor are they dealers.

Funds tendered by investors will be immediately available to the Company. All subscribers will be instructed by the Company or its agents to transfer funds by wire, credit or debit cards or ACH transfer directly to the escrow account of Randall Lanham, Esq. Subscribers have no right to a return of their funds unless the Company rejects a subscription agreement within ten days of tender, in which event investor funds held in the Company account will promptly be refunded to each investor without interest. The Company may terminate the offering at any time for any reason at its sole discretion and may extend the Offering past the Closing Date at the absolute discretion of the Company and in accordance with the rules and provisions of Regulation A of the JOBS Act. It is expected that all subscriptions will be processed through the Company's website, www.cwpetroleumcorp.com.

After the Offering Statement has been qualified by the SEC, the Company will accept tenders of funds to purchase the Shares. The Company does not intend to use an escrow agent as this is a "best efforts" offering and funds will be available immediately to the Company for use.

You will be required to complete a subscription agreement in order to invest. The subscription agreement includes a representation to the effect that, if you are not an "accredited investor" as defined under securities law, you are investing an amount that does not exceed the greater of 10% of your annual income or 10% of your net worth, as described in the subscription agreement.

The Company may engage a broker-dealer registered with the SEC and a member of the Financial Industry Regulatory Authority ("FINRA"), to perform the following administrative and technology related functions in connection with this offering, but not for underwriting or placement agent services:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Accept investor data from the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Review and process information from potential investors, including but not
limited to running reasonable background checks for anti-money laundering ("AML"), IRS tax fraud identification and USA PATRIOT
Act purposes, and gather and review responses to customer identification information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Review subscription agreements received from prospective investors to confirm
they are complete;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Advise the Company as to permitted investment limits for investors pursuant
to Regulation A, Tier 1;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Contact the Company and/or the Company's agents, if needed, to gather additional
information or clarification from prospective investors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Provide
the Company with prompt notice about inconsistent, incorrect or otherwise flagged (e.g. for underage or AML reasons) subscriptions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Serve as registered agent where required for state blue sky requirements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Transmit data to the Company's transfer agent in the form of book-entry data
for maintaining the Company's responsibilities for managing investors (investor relationship management, aka "IRM") and record
keeping;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Keep investor details and data confidential and not disclose to any third
party except as required by regulators, by law or in our performance under this Agreement (e.g. as needed for AML); and comply with any
required FINRA filings including filings required under Rule 5110 for the offering.

Funds will be deposited in an escrow account of Randall Lanham, Esq. and will be made immediately available to the Company. No escrow account will be utilized. If a subscription is rejected, funds will be returned to subscribers within ten days of such rejection without deduction or interest. Upon acceptance by us of a subscription, a confirmation of such acceptance will be sent to the subscriber by the Company. All inquiries regarding this offering should be made directly to the Company.

This offering will commence on the qualification of this Offering Circular, as determined by the SEC and continue indefinitely until all of the offered Shares are sold or the Offering is terminated in the Company's sole discretion. Funds received from investors will be counted towards the Offering only if the form of payment, such as a check, clears the banking system and represents immediately available funds held by us prior to the termination of the subscription period, or prior to the termination of the extended subscription period if extended by the Company.

If you decide to subscribe for any Common Stock in this offering, you must deliver an acceptable form of payment for acceptance or rejection. The minimum investment amount for a single investor is $150.00. If a subscription is rejected, all funds will be returned to subscribers within ten days of such rejection without deduction or interest. Upon acceptance by the Company of a subscription, a confirmation of such acceptance will be sent to the investor.

The Company maintains the right to accept or reject subscriptions in whole or in part, for any reason or for no reason. All monies from rejected subscriptions will be returned by the Company to the investor, without interest or deductions.

*Exchange Listing*

The purchase of the common stock in this offering involves a high degree of risk. The common stock offered in this offering circular is for investment purposes only, and currently no market for our common stock exists. We will request a market maker to file a Rule 211 application with FINRA in order to apply for the inclusion of our common stock in the OTC PINKS or on the Pink Sheets, such efforts may not be successful, and our shares may never be quoted and owners of our common stock may not have a market in which to sell the shares. Also, no estimate may be given as to the time that this application process will require.

If we become able to have our shares of common stock quoted on the OTC PINKS or Pinksheets, we will then try, through a broker-dealer and its clearing firm, to become eligible with the DTC to permit our shares to trade electronically. If an issuer is not "DTC-eligible," then its shares cannot be electronically transferred between brokerage accounts, which, based on the realities of the marketplace as it exists today (especially the OTC PINKS), means that shares of a company will not be traded (technically the shares can be traded manually between accounts, but this takes days and is not a realistic option for companies relying on broker dealers for stock transactions - like all the companies on the OTC PINKS). What this means is that while DTC-eligibility is not a requirement to trade on the OTC PINKS or Pink Sheets, it is a necessity to process trades on the OTC PINKS if a company's stock is going to trade with any volume. There are no assurances that our shares will ever become DTC-eligible or, if they do, how long it will take.

*Pricing of the Offering*

Prior to the Offering, there has been no public market for the Shares. The offering price of the common stock has been arbitrarily determined and bears no relationship to any objective criterion of value. The price does not bear any relationship to our assets, book value, historical earnings or net worth. In determining the offering price, management considered such factors as the prospects, if any, for similar companies, anticipated results of operations, present financial resources and the likelihood of acceptance of this offering. No valuation or appraisal has been prepared for our business. We cannot assure you that a public market for our securities will develop or continue or that the securities will ever trade at a price higher than the offering price.

*Investment Limitations*

As set forth in Title IV of the JOBS Act, there are no limits on how many shares an investor may purchase if the Offering results in a listing of our Common Stock on the NYSE MKT or other national securities exchange. The following apply to us since it is likely that our shares will initially trade on a platform of the OTC Markets.

Generally, in the case of trading on the over-the-counter markets, no sale may be made to you in this Offering if the aggregate purchase price you pay is more than 10% of the greater of your annual income or net worth (please see under How to calculate your net worth elsewhere in this offering circular). Different rules apply to accredited investors and non-natural persons. Before making any representation that your investment does not exceed applicable thresholds, we encourage you to review Rule 251(d)(2)(i)(C) of Regulation A. For general information on investing, we encourage you to refer to www.investor.gov.

Because this is a Tier 1, Regulation A offering, most investors in the case of trading on the over-the-counter markets must comply with the 10% limitation on investment in the Offering. The only investor in this Offering exempt from this limitation is an "accredited investor" as defined under Rule 501 of Regulation D under the Securities Act (an "Accredited Investor"). If you meet one of the following tests you should qualify as an Accredited Investor:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· You are a natural person and your individual net worth, or joint net worth
with your spouse, exceeds $1,000,000 at the time you purchase Shares (please see below under *How to calculate your net worth*);

· You are an executive officer or general partner of the issuer or a manager
or executive officer of the general partner of the issuer;

· You are an organization described in Section 501(c)(3) of the Internal Revenue
Code of 1986, as amended, or the Code, a corporation, a Massachusetts or similar business trust or a partnership, not formed for the specific
purpose of acquiring the Shares, with total assets in excess of $3,600,000;

· You are a bank or a savings and loan association or other institution as
defined in the Securities Act, a broker or dealer registered pursuant to Section 15 of the Exchange Act, an insurance company as defined
by the Securities Act, an investment company registered under the Investment Company Act of 1940 (the "Investment Company Act"),
or a business development company as defined in that act, any Small Business Investment Company licensed by the Small Business Investment
Act of 1958 or a private business development company as defined in the Investment Advisers Act of 1940;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· You are an entity (including an Individual Retirement Account trust) in which
each equity owner is an accredited investor;

· You are a trust with total assets in excess of $3,600,000, your purchase
of Shares is directed by a person who either alone or with his purchaser representative(s) (as defined in Regulation D promulgated under
the Securities Act) has such knowledge and experience in financial and business matters that he is capable of evaluating the merits and
risks of the prospective investment, and you were not formed for the specific purpose of investing in the Shares; or

· You are a plan established and maintained by a state, its political subdivisions,
or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, if such plan has assets in
excess of $3,600,000.

*Offering Period and Expiration Date*

This Offering will start on or after the date that the Offering is qualified by the SEC and will terminate at the earlier of: (1) the date at which 40,000,000 Shares have been sold, (2) the date which is one year after this Offering being qualified by the SEC, or (3) the date on which this Offering is earlier terminated by the Company in its sole discretion.

*Procedures for Subscribing*

Investors must purchase a minimum of 1,000 shares ($500).

A copy of this Offering Circular and all updates as well as subscription agreements and related instructions can be found and downloaded from our website, www.vesperinc.com.

U.S. investors who participate in this Offering, including through selected dealers, will be required to deposit their funds in an escrow account held by Randall J. Lanham, Esq.

Non-U.S. investors may participate in this Offering by depositing their funds in the escrow account held Randall J. Lanham, Esq.

All funds deposited in the escrow account will be available to the Company immediately.

*Right to Reject Subscriptions*.

After we receive your complete, executed subscription agreement (see Exhibit 4.1) and the funds required under the subscription agreement have been transferred to the escrow account, we have the right to review and accept or reject your subscription in whole or in part, for any reason or for no reason. We will return all monies from rejected subscriptions immediately to you, without interest or deduction.

*Acceptance of Subscriptions*.

Upon our acceptance of a subscription agreement, we will countersign the subscription agreement and issue the shares subscribed at closing. Once you submit the subscription agreement and it is accepted, you may not revoke or change your subscription or request your subscription funds. All accepted subscription agreements are irrevocable.

Under Rule 251 of Regulation A, if our common stock will not trade on a national securities exchange, non-accredited, non-natural investors are subject to the investment limitation and may only invest funds which do not exceed 10% of the greater of the purchaser's revenue or net assets (as of the purchaser's most recent fiscal year end). If our Common Stock will not trade on a national securities exchange, a non-accredited, natural person may only invest funds which do not exceed 10% of the greater of the purchaser's annual income or net worth (please see below on how to calculate your net worth).

*How to Calculate Net Worth*:

For the purposes of calculating your net worth, it is defined as the difference between total assets and total liabilities. This calculation must exclude the value of your primary residence and may exclude any indebtedness secured by your primary residence (up to an amount equal to the value of your primary residence). In the case of fiduciary accounts, net worth and/or income suitability requirements may be satisfied by the beneficiary of the account or by the fiduciary, if the fiduciary directly or indirectly provides funds for the purchase of the Shares.

In order to purchase the Shares and prior to the acceptance of any funds from an investor, an investor will be required to represent, to the Company's satisfaction, that he is either an accredited investor or is in compliance with the 10% of net worth or annual income limitation on investment in this Offering.

*Share issuances*

At March 31, 2025 we had 41 common shareholders.

Chelsea issued an aggregate of 400,320,000 shares to 41 shareholders upon incorporating in Wyoming. These shares were issued for services and assistance in developing our business plan.

Of the total shares issued, 71.94% were issued to Andy Chen, Chelsea's Chairman.

All of these stockholders had an opportunity to ask questions of and receive answers from our executive officers and were provided with access to our documents and records in order to verify the information provided. Each of these six shareholders who was not an accredited investor represented that he/she had such knowledge and experience in financial and business matters that he/she was capable of evaluating the merits and risks of the investment, and we had grounds to reasonably believe immediately prior to making any sale that such purchaser comes within this description. All transactions were negotiated in face-to-face or telephone discussions between our executives and the individual purchaser, each of whom indicated that they met the standards for participation in a non-public offering under Section 4(2) of the Securities Act of 1933, as amended. Chelsea has made a determination that such investors are "sophisticated investors" meaning that each is an investor who has sufficient knowledge and experience with investing that he/she is able to evaluate the merits of an investment. Because of sophistication of each investor as well as, education, business acumen, financial resources and position, each such investor had an equal or superior bargaining position in its dealings with Chelsea. In addition to providing proof that each shareholder paid for their shares as indicated in their respective investment letters, signed investment letters also verify that each shareholder was told prior to and at the time of his or her investment, that he/she would be required to act independently with regard to the disposition of shares owned by them and each shareholder agreed to act independently. Each investor signed the same form of Investment Letter.

No underwriter participated in the foregoing transactions (although all selling stockholders may be considered to be underwriters for purposes of this offering), and no underwriting discounts or commissions were paid, nor was any general solicitation or general advertising conducted. The securities bear a restrictive legend and stop transfer instructions are noted on our stock transfer records. In addition, Chelsea has had any negotiations or discussions with any entity concerning an acquisition or merger and has no current intentions to seek out any such entities for such purposes.

**DILUTION**

"Dilution" represents the difference between the offering price of the shares of common stock hereby being offered and the net book value per share of common stock immediately after completion of this Offering. "Net book value" is the amount that results from subtracting total liabilities from total assets. In this Offering, the level of dilution is increased as a result of the relatively low net book value of our issued and outstanding common stock. Assuming all of the shares of common stock offered by the Company herein are sold, the purchasers in this Offering will lose a 70% portion of the value of their shares purchased.

The following table illustrates the dilution to the purchasers of the common stock offered in this offering:

---

| | | |
|:---|:---|:---|
|  | Assuming the sale of offered shares: | Assuming the sale of offered shares: |
|  | 40000000 | 20000000 |
| Offering Price Per Share | $.50 | $.50 |
| Book Value Per Share Before the Offering | -0- | -0- |
| Book Value Per Share After the Offering | $0.27 | $0.46 |
| Net Increase to Original Shareholders | $0.27 | $0.46 |
| Decrease in Investment to New Shareholders | $1.23 | $1.04 |
| Dilution to New Shareholders (%) | 82 | 70 |

---

**DIVIDEND POLICY**

We have never paid cash or any other form of dividend on our common stock, and we do not anticipate paying cash dividends in the foreseeable future. Moreover, any future credit facilities might contain restrictions on our ability to declare and pay dividends on our common stock. We plan to retain all earnings, if any, for the foreseeable future for use in the operation of our business and to fund the pursuit of future growth. Future dividends, if any, will depend on, among other things, our results of operations, capital requirements and on such other factors as our board of directors, in its discretion, may consider relevant.

**MARKET FOR OUR SECURITIES**

There is no established public market for our common stock, and a public market may never develop. A market maker will file an application with FINRA so as to be able to quote the shares of our common stock on the OTC PINKS maintained or on the Pink Sheets commencing as soon as possible after the effectiveness of our offering circular and the subsequent closing of this offering. There can be no assurance that the market maker's application will be accepted by FINRA nor can we estimate as to the time period that the application will require. We are not permitted to file such application on our own behalf. If the application is accepted, there can be no assurances as to whether:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· any market for our shares will develop;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the prices at which our common stock will trade; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the extent to which investor interest in us will lead to the development
of an active, liquid trading market. Active trading markets generally result in lower price volatility and more efficient execution of
buy and sell orders for investors.

If we become able to have our shares of common stock quoted on the OTC PINKS or on the Pink Sheets, we will then try, through a broker-dealer and its clearing firm, to become eligible with the DTC to permit our shares to trade electronically. If an issuer is not "DTC-eligible," then its shares cannot be electronically transferred between brokerage accounts, which, based on the realities of the marketplace as it exists today (especially the OTC PINKS), means that shares of a company will not be traded (technically the shares can be traded manually between accounts, but this takes days and is not a realistic option for companies relying on broker dealers for stock transactions - like all the companies on the OTC PINKS). What this means is that while DTC-eligibility is not a requirement to trade on the OTC PINKS, it is a necessity to process trades on the OTC PINKS if a company's stock is going to trade with any volume. There are no assurances that our shares will ever become DTC-eligible or, if they do, how long it will take.

In addition, our common stock is unlikely to be followed by any market analysts, and there may be few institutions acting as market makers for our common stock. Either of these factors could adversely affect the liquidity and trading price of our common stock. Until our common stock is fully distributed and an orderly market develops in our common stock, if ever, the price at which it trades is likely to fluctuate significantly. Prices for our common stock will be determined in the marketplace and may be influenced by many factors, including the depth and liquidity of the market for shares of our common stock, developments affecting our business, including the impact of the factors referred to in *Risk Factors*, investor perception of Chelsea and general economic and market conditions. No assurances can be given that an orderly or liquid market will ever develop for the shares of our common stock.

The trading of our securities, if any, will be in the over-the-counter market which is commonly referred to as the OTC PINKS or on the Pink Sheets. As a result, an investor may find it difficult to dispose of, or to obtain accurate quotations as to the price of our securities.

Because of the possible future low price of the securities being registered, many brokerage firms may not be willing to effect transactions in these securities. Purchasers of our securities should be aware that any market that develops in our stock may become subject to the penny stock restrictions in the future.

Rule 3a51-1 of the Exchange Act establishes the definition of a "penny stock," for purposes relevant to us, as any equity security that has a minimum bid price of less than $5.00 per share or with an exercise price of less than $5.00 per share, subject to a limited number of exceptions which are not available to us. It is possible that our shares may be considered to be penny stocks in the future notwithstanding the initial offering price. This classification severely and adversely affects any market liquidity for our common stock.

For any transaction involving a penny stock, unless exempt, the penny stock rules require that a broker or dealer approve a person's account for transactions in penny stocks and the broker or dealer receive from the investor a written agreement to the transaction setting forth the identity and quantity of the penny stock to be purchased. In order to approve a person's account for transactions in penny stocks, the broker or dealer must obtain financial information and investment experience and objectives of the person and make a reasonable determination that the transactions in penny stocks are suitable for that person and that that person has sufficient knowledge and experience in financial matters to be capable of evaluating the risks of transactions in penny stocks.

The broker or dealer must also deliver, prior to any transaction in a penny stock, a disclosure schedule prepared by the SEC relating to the penny stock market, which, in highlight form, sets forth:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the basis on which the broker or dealer made the suitability determination,
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· that the broker or dealer received a signed, written agreement from the investor
prior to the transaction.

Disclosure also has to be made about the risks of investing in penny stock in both public offerings and in secondary trading and commissions payable to both the broker-dealer and the registered representative, current quotations for the securities and the rights and remedies available to an investor in cases of fraud in penny stock transactions. Additionally, monthly statements have to be sent disclosing recent price information for the penny stock held in the account and information on the limited market in penny stocks.

Because of these regulations, broker-dealers may not wish to engage in the above-referenced necessary paperwork and disclosures and/or may encounter difficulties in their attempt to sell shares of our common stock, which may affect the ability of shareholders to sell their shares in any secondary market and have the effect of reducing the level of trading activity in any secondary market. These additional sales practice and disclosure requirements could impede the sale of our securities, if and when our securities become publicly traded. In addition, the liquidity for our securities may decrease, with a corresponding decrease in the price of our securities.

There is no Chelsea common equity subject to outstanding options or warrants to purchase or securities convertible into our common equity. In general, under Rule 144, a holder of restricted common shares who is an affiliate at the time of the sale or any time during the three months preceding the sale can resell shares, subject to the restrictions described below.

If we had been a public reporting company under the Exchange Act for at least 90 days immediately before the sale, then at least six months must have elapsed since the shares were acquired from us or one of our affiliates, and we must remain current in our filings for an additional period of six months; in all other cases, at least one year must have elapsed since the shares were acquired from us or one of our affiliates.

The number of shares sold by such person within any three-month period cannot exceed the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· 1% of the total number of our common shares then outstanding; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The average weekly trading volume of our common shares during the four calendar
weeks preceding the date on which notice on Form 144 with respect to the sale is filed with the SEC (or, if Form 144 is not required to
be filed, the four calendar weeks preceding the date the selling broker receives the sell order) This condition is not currently available
to the Company because its securities do not trade on a recognized exchange.

Conditions relating to the manner of sale, notice requirements (filing of Form 144 with the SEC) and the availability of public information about us must also be satisfied.

All of the presently outstanding shares of our common stock are "restricted securities" as defined under Rule 144 promulgated under the Securities Act and may only be sold pursuant to an effective registration statement or an exemption from registration, if available.

At the present time, the currently outstanding shares of our common stock may be sold subject to the rules and limitations of Rule 144 one year from the date of issuance provided that we are current in all of our Reporting Requirements, if any, at that date.

**MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION**

*Note Regarding Forward-Looking Statements*

Certain matters discussed herein are forward-looking statements. Such forward-looking statements contained in this Regulation A Offering Circular involve risks and uncertainties, including statements as to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Our ability to operate our facilities profitably,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· our ability to comply and to remain in compliance with State and Federal
Regulations,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· our ability to meet our rent and debt obligations,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· our business prospects,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· our contractual arrangements and relationships with third parties,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the dependence of our future success on the general economy and its impact
on the industries in which we may be involved,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the adequacy of our cash resources and working capital, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· other factors identified in our filings with the SEC, press releases, if
any and other public communications.

These forward-looking statements can generally be identified as such because the context of the statement will include words such as we "believe," "anticipate," "expect," "estimate" or words of similar meaning. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which are described in close proximity to such statements and which could cause actual results to differ materially from those anticipated as of the date of this report. Shareholders, potential investors and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included herein are only made as of the date of this offering circular and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

The following discussion and analysis provides information which management believes to be relevant to an assessment and understanding of the Company's results of operations and financial condition. This discussion should be read together with the Company's financial statements and the notes to financial statements, which are included in this offering circular.

This management's discussion and analysis or plan of operation should be read in conjunction with the financial statements and notes thereto of the Company included elsewhere in this offering circular. Because of its nature of a development stage company, the reported results will not necessarily reflect the future.

We will qualify as an "emerging growth company" under the JOBS Act if and when this Form 1A becomes qualified. As a result, <u>if and when</u> we become a fully reporting company, we will be permitted to, and intend to, rely on exemptions from certain disclosure requirements. For so long as we remain an emerging growth company, we will not be required to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· have an auditor report on our internal controls over financial reporting
pursuant to Section 404(b) of the Sarbanes-Oxley Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· comply with any requirement that may be adopted by the Public Company Accounting
Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor's report providing additional information
about the audit and the financial statements (i.e., an auditor discussion and analysis);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· submit
certain executive compensation matters to shareholder advisory votes, such as "say-on-pay" and "say-on-frequency;"
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· disclose certain executive compensation related items such as the correlation
between executive compensation and performance and comparisons of the CEO's compensation to median employee compensation.

In addition, Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.

<u>If and when</u> we become a fully reporting company, we will remain an "emerging growth company" for up to five years, or until the earliest of

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. the last day of the first fiscal year in which our total annual gross revenues exceed $1 billion,

ii. the date that we become a "large accelerated filer" as defined in Rule 12b-2 under the Securities Exchange Act of 1934,
which would occur if the market value of our ordinary shares that is held by non-affiliates exceeds $700 million as of the last business
day of our most recently completed second fiscal quarter, or

iii. the date on which we have issued more than $1 billion in non-convertible debt during the preceding three-year period.

*Operations*

The founders of Chelsea have developed a business plan to provide a new-generation technology company focusing on the promotion of "Metaverse" and art NFT. They have cooperative artists and designers who are responsible for designing and building different Metaverse platforms, as well as promoting NFT transactions and collections. The Collaborators is focusing on Metaverse technology and developing related information technology services for virtual world programs - information technology consulting services.

Carrying out the plan will require obtaining funds as well as relying upon the business contacts in the US and several international founders and shareholders.

In general, there are three key milestones that are planned:

*Complete*

 

*Market*

The cost to complete $5,000,000. The marketing program can cost from $5,000,000 to $10,000,000 million dollars depending on the resources that we have available to spend.

*Liquidity*

Chelsea has no committed sources of funds and is totally dependent on funds obtained from shareholders or by Andy Chen from business associates of his. Chelsea will be able to continue operations for the next year with virtually no funds, if necessary, because shareholders will assist in work efforts. However, no assurances can be given as to how much longer operations can continue thereafter if funds are not raised.

If Chelsea is unsuccessful in its efforts to raise funds and revenue, it will no ability to complete its business plan. No assurances can be given as to the likely success of those efforts if they become necessary or the terms that get arranged if the efforts succeed.

*Recently Issued Accounting Pronouncements*

The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and 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.

Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. If and when we become a fully reporting company, we will elect to take advantage of the benefits of this extended transition period. Our financial statements may, therefore, not be comparable to those of companies that comply with such new or revised accounting standards.

*Critical Accounting Policies*

The preparation of financial statements and related notes requires us to make judgments, estimates, and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. An accounting policy is considered to be critical if it requires an accounting estimate to be made based on assumptions about matters that are highly uncertain at the time the estimate is made, and if different estimates that reasonably could have been used, or changes in the accounting estimates that are reasonably likely to occur periodically, could materially impact the financial statements.

Financial Reporting Release No. 60 requires all companies to include a discussion of critical accounting policies or methods used in the preparation of financial statements. There are no critical policies or decisions that rely on judgments that are based on assumptions about matters that are highly uncertain at the time the estimate is made. Note 2 to the financial statements, included in the offering circular, includes a summary of the significant accounting policies and methods used in the preparation of our financial statements.

*Seasonality*

We do not expect a lot of seasonality affecting our business.

*Off-Balance Sheet Arrangements*

We have no off-balance sheet arrangements, as defined in Item 303(a) (4) (ii) of Regulation S-K, obligations under any guarantee contracts or contingent obligations. We also have no other commitments, other than the costs of being a public company that will increase our operating costs or cash requirements in the future.

**BUSINESS**

Chelsea Tech, Inc. (the "Company" or "Chelsea") is a corporation formed under the laws of the State of Wyoming on June 3, 2024 and headquartered in San Diego, CA. Chelsea is a new-generation technology company focusing on the promotion of "Metaverse" and art NFT. On June 27, 2024, the Company entered into a Share Exchange Agreement (the "Agreement") with CanvasLand Limited ("CanvasLand") a Hong Kong based artificial intelligence ("AI") company attached hereto as an exhibit. CanvasLand is now a whlly owned subsidiary of Chelsea pursuant to the Share Exchange Agreement. CanvasLand is the owner of certain patents, technical information, trademarks, proprietary software and intellectual property (collectively, "IP") creating a metaverse that allows Chelsea to conduct a money service business ("MSB"). CanvasLand warrants that its MSB operations comply with **FinCEN regulations**, including AML/KYC requirements and that Chelsea will bear no liability for its financial activities. The Platform's innovative approach includes gamification, Metaverse solutions, and rewards, which enhance customer engagement and drive revenue growth for partner businesses.

**Utilization Plan of Raised Funds for Chelsea's Metaverse Innovations**

Chelsea's wholly owned subsidiary, CanvasLand is a trailblazer in the metaverse landscape, is distinguished by its deep-rooted expertise in augmented reality (AR) technology. With a prestigious clientele that includes industry giants such as Citibank, Sandbox, Decentraland, and Luxor, CanvasLand has emerged as a powerhouse in international markets, setting new standards for immersive digital experiences. Chelsea, as the United States based acquiring entity of CanvasLand will directly benefit from the accomplishments and business developments already achieved by CanvasLand. Chelsea will not have to expend resources developing what has already been created and will in essence have a "plug and play" business model.

The recent collaboration between CanvasLand and the China State Administration of Cultural Heritage marks a significant milestone in the company's journey. This ambitious project aims to recreate virtual museums for the top 1000 most revered museum and tourist attractions, with the overarching goal of revitalizing these cultural landmarks and enticing tourists to explore them in a post-COVID world. By leveraging cutting-edge AR technology, CanvasLand seeks to bridge the gap between physical and digital realms, offering visitors a unique and engaging perspective on historical artifacts and cultural heritage.

One of CanvasLand's most notable achievements lies in facilitating antique exchanges between China and France to commemorate the 60th anniversary of diplomatic relations between the two nations. This initiative proved to be a resounding success, attracting millions of visitors to partake in museum activities that bridged cultural divides and celebrated shared histories.

Looking ahead to the upcoming year of 2025, which marks the 35th anniversary of diplomatic ties between China and Saudi Arabia, CanvasLand is poised to embark on a similar endeavor to commemorate this auspicious occasion. The proposed program is designed to celebrate the enduring friendship between the two nations through immersive experiences that showcase the rich cultural tapestries of both regions.

The $20 million fundraising initiative represents a pivotal moment for CanvasLand, offering the company the financial resources needed to enhance its cutting-edge AR and motion detection technology. By investing in research and development, CanvasLand aims to push the boundaries of immersive storytelling, allowing visitors to not only witness historical eras but also actively participate in them by assuming the roles of iconic figures from the past.

In addition to technology enhancement, a significant portion of the raised funds will be allocated towards the digitization of antiquities. By capturing the essence of these historical artifacts in a digital format, CanvasLand aims to preserve cultural heritage for future generations and make it accessible to a global audience through the metaverse platform. The process of digitization will involve meticulous attention to detail, ensuring that each artifact is faithfully recreated in a virtual environment that captures its essence and historical significance.

Furthermore, the refurbishment of tourism attractions and museums is a key priority for CanvasLand. By modernizing these cultural landmarks and enhancing the visitor experience, CanvasLand seeks to create immersive environments that transport visitors back in time and provide them with a deeper understanding of the cultural significance of each artifact. The integration of advanced AR technology into these spaces will elevate the visitor experience, offering a blend of education and entertainment that is unparalleled in the digital realm.

A strategic aspect of CanvasLand's fundraising initiative involves the creation and distribution of non-fungible tokens (NFTs) based on the digitized antiquities. NFTs represent a unique opportunity for CanvasLand to monetize its digital assets and engage with collectors and enthusiasts in the burgeoning NFT market. By offering NFTs that are backed by authentic historical artifacts, CanvasLand can create a new revenue stream that complements its core business of metaverse development.

The rights to design and distribute these NFTs will not only generate revenue for CanvasLand but also serve as a platform for cultural exchange and appreciation. By partnering with collectors, art enthusiasts, and cultural institutions, CanvasLand can showcase the rich tapestry of human history through digital representations of antiquities that transcend geographical boundaries and time periods.

Furthermore, a portion of the proceeds from NFT sales will be channeled towards uplifting the top 1000 museums in China. By reinvesting in cultural institutions and heritage sites, CanvasLand aims to foster a greater appreciation for art and history among the public and encourage ongoing dialogue about the importance of preserving cultural heritage for future generations.

The marketing and promotion of virtual museum experiences will play a crucial role in attracting a wider audience to CanvasLand's metaverse platform. By leveraging digital marketing strategies and partnerships with influencers and cultural ambassadors, CanvasLand can raise awareness about its immersive offerings and drive visitor traffic to virtual museums and tourism attractions.

In addition to its core initiatives, CanvasLand plans to organize celebratory events and diplomatic programs that highlight the cultural significance of key historical milestones. By creating engaging experiences that celebrate cultural exchange and diplomatic relations, CanvasLand aims to foster greater understanding and appreciation for diverse cultures and histories.

Technology infrastructure and maintenance will also be a key area of focus for CanvasLand. By investing in the scalability and security of its technology platform, CanvasLand can ensure a seamless user experience for visitors to its virtual museums and tourism attractions. The reliability and performance of the metaverse platform are critical to delivering immersive experiences that captivate audiences and foster a sense of connection to the past.

As CanvasLand embarks on its growth trajectory, the company is committed to exploring new markets and partnerships that align with its vision of becoming the premier destination for national exhibitions and cultural experiences. By expanding its reach and forging strategic alliances with like-minded organizations, CanvasLand aims to solidify its position as a leader in the Asian metaverse industry and a beacon of innovation in the digital realm.

In conclusion, the $20 million fundraising initiative represents a significant opportunity for Chelsea to build upon and advance mission started by its wholly owned subsidiary, CanvasLand, of redefining cultural experiences in the metaverse. By strategically allocating funds towards technology enhancement, digitization of antiquities, NFT creation and distribution, museum refurbishment, and cultural promotion, Chelsea aims to create immersive experiences that engage, educate, and inspire audiences around the world.

Through a combination of innovation, creativity, and strategic partnerships, Chelsea is poised to shape the future of the metaverse industry and establish itself as a global leader in digital cultural heritage preservation and dissemination.

*Competition*

Chelsea's competitors include Paypal Holdings (NASDAQ: PYPL), Coinbase Global (NASDAQ: COIN), Block Inc (NYSE: SQ), Robinhood Markets (NASDAQ: HOOD), and Affirm Holdings (NASDAQ:AFRM).

*Employees*

We currently have no full-time employees. Andy Chen devotes 50 to 60% of his time to us. We will start to employ additional staff and management as we build out the company. This is entirely dependent upon the completion of this offering and Chelsea's access to some financial resources.

*Facilities*

The Company is currently based in San Diego, California.

*Litigation*

Chelsea is not party to any pending, or to our knowledge, threatened litigation of any type.

**DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS**

Our management consists of:

---

| | | |
|:---|:---|:---|
| **Name** | **Age** | **Title** |
| Andy Chen | 50 | Chairman, President & CEO |
| Eng Wah Kung | 64 | CFO and Director |

---

*Possible Potential Conflicts*

The OTC Pinks on which we may have our shares of common stock quoted does not currently have any director independence requirements. A market maker has agreed to file an application with FINRA on our behalf so as to be able to quote the shares of our common stock on the OTC Pinks commencing upon the effectiveness of our registration statement of which this offering circular is a part and the subsequent closing of this offering. There can be no assurance that the market maker's application will be accepted by FINRA

No member of management is contractually by us to work on a full-time basis. Accordingly, certain conflicts of interest may arise between us and our officer(s) and director(s) in that they may have other business interests in the future to which they devote their attention, and they may be expected to continue to do so although management time must also be devoted to our business. As a result, conflicts of interest may arise that can be resolved only through their exercise of such judgment as is consistent with each officer's understanding of his/her fiduciary duties to us.

*Code of Business Conduct and Ethics*

We adopted a Code of Ethics and Business Conduct which is applicable to our future employees and which also includes a Code of Ethics for our chief executive and principal financial officers and any persons performing similar functions. A code of ethics is a written standard designed to deter wrongdoing and to promote:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· honest and ethical conduct,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· full, fair, accurate, timely and understandable disclosure in regulatory
filings and public statements,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· compliance with applicable laws, rules and regulations,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the prompt reporting violation of the code, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· accountability for adherence to the code.

*Board of Directors*

We currently have two directors, neither of whom are considered independent.

All directors hold office until the completion of their term of office, which is not longer than one year, or until their successors have been elected. Our directors' terms of office expire on March 31, 2026. All officers are appointed annually by the board of directors and, subject to existing employment agreements (of which there are currently none) and serve at the discretion of the board. Currently, a person serving as a director receives no compensation for serving in the role as a director.

If at any point we have an even number of directors, tie votes on issues are resolved in favor of the chairman's vote.

*Involvement in Certain Legal Proceedings*

During the past ten years, no present director, executive officer or person nominated to become a director or an executive officer of Chelsea:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. had a petition under the federal bankruptcy laws or any state insolvency law filed by or against, or a receiver, fiscal agent or similar
officer appointed by a court for the business or property of such person, or any partnership in which he/she was a general partner at
or within two years before the time of such filing, or any corporation or business association of which he/she was an executive officer
at or within two years before the time of such filing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. was convicted in a criminal proceeding or subject to a pending criminal proceeding (excluding traffic violations and other similar
minor offenses);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. was subject to any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction,
permanently or temporarily enjoining him/her from or otherwise limiting his/her involvement in any of the following activities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. acting as a futures commission merchant, introducing broker, commodity trading advisor commodity pool operator, floor broker, leverage
transaction merchant, any other person regulated by the Commodity Futures Trading Commission, or an associated person of any of the foregoing,
or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment
company, bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection with
such activity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. engaging in any type of business practice; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation
of federal or state securities laws or federal commodities laws; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of a federal or state authority
barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described in paragraph
(3)(i), above, or to be associated with persons engaged in any such activity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. was found by a court of competent jurisdiction (in a civil action), the Securities and Exchange Commission or the Commodity Futures
Trading Commission to have violated a federal or state securities or commodities law, and for which the judgment has not been reversed,
suspended or vacated.

*Committees of the Board of Directors*

We currently have no independent directors. Concurrent with having sufficient independent members and resources, if ever, the Chelsea board of directors will establish an audit committee and a compensation committee. The audit committee will review the results and scope of the audit and other services provided by the independent auditors and review and evaluate the system of internal controls. The compensation committee will manage any stock option plan we may establish and review and recommend compensation arrangements for the officers. No final determination has yet been made as to the size of memberships of these committees or when we will have sufficient members to establish committees. See "Executive Compensation" hereinafter.

All directors will be reimbursed by Chelsea for any expenses incurred in attending board meetings provided that Chelsea has the resources to pay these fees. Chelsea will consider applying for liability insurance for officers and directors at such time as it has the resources to do so.

*Summary Executive Compensation Table*

The following table shows, for the period from June 3, 2024 (inception) to March 31, 2025 compensation awarded to or paid to, or earned by, our officers.

**SUMMARY COMPENSATION TABLE**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name**<br> **and**<br> **principal**<br> **position**<br> **(a)** | **Fiscal Year**<br> **(b)** | **Salary**<br> **($)**<br> **(c)** | **Bonus**<br> **($)**<br> **(d)** | **Stock**<br> **Awards**<br> **($)**<br> **(e)** | **Option**<br> **Awards**<br> **($)**<br> **(f)** | **Non-Equity**<br> **Incentive**<br> **Plan**<br> **Compensation**<br> **($)**<br> **(g)** | **Nonqualified**<br> **Deferred**<br> **Compensation**<br> **Earnings**<br> **($)**<br> **(h)** | **All Other**<br> **Compensation**<br> **($)**<br> **(i)** | **Total ($)**<br> **(j)** |
| Andy Chen | 2024 |  |  |  |  |  |  |  |  |
|  | 2024 |  |  |  |  |  |  |  |  |

---

No officer or director has a written employment or compensation agreement.

The Board of Directors will make all decisions determining the amount and timing of officer compensation and, for the immediate future, will receive the level of cash compensation each month that permits us to meet our obligations. Compensation amounts will be formalized when and if annual sales reach $5,000,000.

None of our named executive officers received any grants of stock, option awards or other plan-based awards. The Company has never issued these types of awards.

*Grants of Plan-Based Awards Table*

None of our named executive officers received any grants of stock, option awards or other plan-based awards. The Company has never issued these types of awards.

*Options Exercised and Stock Vested Table*

None of our named executive officers has ever been granted or exercised any stock options.

*Outstanding Equity Awards at Fiscal Year-End Table*

No equity award arrangements have ever been awarded or granted by the Company.

**PRINCIPAL SHAREHOLDERS**

As of March 31, 2025, we had 400,320,000 shares of common stock outstanding which are held by 40 shareholders. The chart below set forth the ownership, or claimed ownership, of certain individuals and entities. This chart discloses those persons known by the board of directors to have, or claim to have, beneficial ownership of more than 5% of the outstanding shares of our common stock as of March 31, 2025; of all directors and executive officers of the Company and of our directors and officers as a group (of which there are currently only two persons).

---

| | | | |
|:---|:---|:---|:---|
| **Title of**<br> **Class** | **Name, Title and Address of Beneficial Owner of Shares<sup>(a)</sup>** | **Amount of**<br> **Beneficial**<br> **Ownership<sup>(b)</sup>** | **Percent** |
| Common | Andy Pak Keung Chen | 288000000 | 71.94 |
| Common | All Directors and Officers as a group (2 persons) | 288000000 | 71.94 |

---

\*Includes shares held by Union Bancaire Privee SA as nominee of Mr Chen.

The address for purposes of this table is the Company's mailing address which is:

**6353 El Cajon Blvd., Ste. 124**

**San Diego CA 92115**

**+852 9033 2063**

Unless otherwise indicated, Chelsea believes that all persons named in the table have sole voting and investment power with respect to all shares of the common stock beneficially owned by them. A person is deemed to be the beneficial owner of securities which may be acquired by such person within 60 days from the date indicated above upon the exercise of options, warrants or convertible securities. Each beneficial owner's percentage ownership is determined by if options, warrants or convertible securities that are held by such person (but not those held by any other person) and which are exercisable within 60 days of the date indicated above, have been exercised.

**CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS**

The promoter of Chelsea is Andy Chen, our CEO, President nd Director himself..

Chelsea issued 1,000 common shares at founding to Andy Chen, then 400,319,000 to a total of 39 individuals.

*Director Independence; Committees of the Board of Directors*

Our Board of Directors is comprised of two individuals. We do not have a majority of independent directors as that term is defined under Rule 4200(a) (15) of the NASDAQ Marketplace Rules, even though that definition does not currently apply to us, because we are not listed on the NASDAQ. We anticipate that if we expand our Board of Directors in the future, that we will seek to include members who are independent. Our securities are not quoted on an exchange that has requirements that a majority of our Board members be independent, and we are not currently otherwise subject to any law, rule or regulation requiring that all or any portion of our Board of Directors include "independent" directors

Our Board of Directors has not established any committees, including an Audit Committee, a Compensation Committee or a Nominating Committee, or any committee performing a similar function. The functions of those committees are being undertaken by the entire board as a whole. Our board of directors does not believe that it is necessary to have such committees because it believes the functions of such committees can be adequately performed by our Board of Directors as a whole. Further, since our securities are not listed on an exchange, we are not subject to any qualitative requirements mandating the establishment of any particular committees.

We do not have a policy regarding the consideration of any director candidates which may be recommended by our shareholders, including the minimum qualifications for director candidates, nor has our Board of Directors established a process for identifying and evaluating director nominees. We have not adopted a policy regarding the handling of any potential recommendation of director candidates by our shareholders, including the procedures to be followed. Our Board has not considered or adopted any of these policies as we have never received a recommendation from any stockholder for any candidate to serve on our Board of Directors. Given the nature of our operations and lack of directors and officers insurance coverage, we do not anticipate that any of our shareholders will make such a recommendation in the near future. While there have been no nominations of additional directors proposed, in the event such a proposal is made, all members of our Board will participate in the consideration of director nominees.

None of our directors is an "audit committee financial expert" within the meaning of Item 407(d) (5) of Regulation S-K. In general, an "audit committee financial expert" is an individual member of the audit committee or Board of Directors who:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) understands generally accepted
accounting principles and financial statements,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) is able to assess the general
application of such principles in connection with accounting for estimates, accruals and reserves,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) has experience preparing, auditing,
analyzing or evaluating financial statements comparable to the breadth and complexity to our financial statements,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) understands internal controls
over financial reporting, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) understands audit committee functions.

We believe that the members of our Board of Directors are collectively capable of analyzing and evaluating our financial statements and understanding internal controls and procedures for financial reporting. We believe that retaining an independent director who would qualify as an "audit committee financial expert" would be overly costly and burdensome and is not warranted in our circumstances.

**DESCRIPTION OF CAPITAL STOCK**

*Introduction*

We were incorporated under the laws of the State of Wyoming on June 3, 2024. Chelsea is authorized to issue 1,000,000,000 shares of common stock and 0 shares of preferred stock. All shares have a par value of $0.001 .

*Preferred Stock*

Our certificate of incorporation authorizes the issuance of 1,000,000 shares of preferred stock with designations, rights and preferences determined from time to time by our board of directors. There are currently no shares of preferred stock issued or outstanding.

*Common Stock*

Our certificate of incorporation authorizes the issuance of 1,000,000,000 shares of common stock with a par value of $.001 per share. There are 400,320,000 shares of our common stock issued and outstanding at March 31, 2025 that are held by 41 shareholders. Holders of our common stock:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· have equal ratable rights to dividends from funds legally available for payment
of dividends when, as and if declared by the board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· are entitled to share ratably in all of the assets available for distribution
to holders of common stock upon liquidation, dissolution or winding up of our affairs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· do not have preemptive, subscription or conversion rights, or redemption
or access to any sinking fund; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· are entitled to one non-cumulative vote per share on all matters submitted
to stockholders for a vote at any meeting of stockholders

The rights of shareholders of Wyoming corporations are described below. In addition, the Board of Directors, without a shareholder vote, has the right to amend our bylaws to make it harder or easier to effect a change in our control. A majority of shareholder votes is required for persons to become directors. In addition, shareholders may submit proposals to be voted on at annual meetings, but such items may be rejected by the Board of Directors.

*Authorized but Un-issued Capital Stock*

Wyoming law does not require stockholder approval for any issuance of authorized shares. These additional shares may be used for a variety of corporate purposes, including future public offerings to raise additional capital or to facilitate corporate acquisitions.

One of the effects of the existence of un-issued and unreserved common stock (and/or preferred stock) may be to enable our board of directors to issue shares to persons friendly to current management, which issuance could render more difficult or discourage an attempt to obtain control of our board by means of a merger, tender offer, proxy contest or otherwise, and thereby protect the continuity of our management and possibly deprive the stockholders of opportunities to sell their shares of our common stock at prices higher than prevailing market prices.

*Shareholder Matters*

As an issuer of "penny stock" the protection provided by the federal securities laws relating to forward looking statements does not apply to us if our shares are considered to be penny stocks which they currently are and probably will be for the foreseeable future. Although the federal securities laws provide a safe harbor for forward-looking statements made by a public company that files reports under the federal securities laws, this safe harbor is not available to issuers of penny stocks. As a result, we will not have the benefit of this safe harbor protection in the event of any claim that the material provided by us, including this offering circular, contained a material misstatement of fact or was misleading in any material respect because of our failure to include any statements necessary to make the statements not misleading.

The Board of Directors may change provisions in the bylaws at any time.

*Wyoming Anti-Takeover Laws*

As a Wyoming corporation, we are subject to certain anti-takeover provisions that apply to public corporations under Wyoming law. The Wyoming Management Stability Act (WMSA) applies to "control shares" of an "issuing public corporation." The WMSA defines "control shares" as the shares of an issuing public corporation that would entitle a person to exercise voting power within any of the following ranges of voting power:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· 1/5 or more but less than 1/3 of all voting power.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· 1/3 or more but less than a majority of all voting power.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· A majority or more of all voting power.

*(WY Stat § 17-18-301)*

The WMSA defines an issuing public corporation as a corporation, other than a depository institution, that is organized under the laws of the State of Wyoming and that has all of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· At least ten percent (10%) of the corporation's full-time permanent employees
are employed within the state;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· At least ten million dollars ($10,000,000.00) in fair market value of the
corporation's assets are deposited within Wyoming financial institutions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The principal operating headquarters and the primary offices of the chief
executive officer are within Wyoming; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The corporation has a combination of assets deposited within Wyoming financial
institutions, assets assessed for ad valorem taxation within Wyoming, and assets within Wyoming not subject to ad valorem taxation which
are sufficient to cause the corporation to pay the tax required by W.S. 17-16-1630(a). The payment of the tax required by W.S. 17-16-1630(a)
shall be deemed conclusive evidence of substantial business operations within Wyoming;

*(WY Stat § 17-18-102)*

Any person who proposes to make or has made a control share acquisition (as defined in the WMSA) may deliver an acquiring person statement to the public corporation. The statement must contain:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The identity of the acquiring person and each other member of any group of
which the person belongs to.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· A statement that the acquisition statement is given under the WMSA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The number of shares of the public corporation owned by the acquiring person
and each other member of the group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The range of voting power under which the control share acquisition falls,
if completed.

If the control share acquisition has not taken place:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· a description in reasonable detail of the proposed control share acquisition;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· a statement by the acquiring person stating that the acquisition is not contrary
to law and that the acquiring person has the financial capacity to make the proposed control share acquisition.

*(WY Stat § 17-18-303)*

After the acquiring person statement has been delivered to the corporation, the corporation must call a meeting of the shareholders to vote on the proposed acquisition. The proposed acquisition must be approved by each voting group entitled to vote, voting separately, by a majority of the votes entitled to be cast by that group (excluding all interested shares). (WY Stat § 17-18-304)

A corporation's articles of incorporation or by-laws may provide that this chapter does not apply to control share acquisitions of shares of the corporation. However, the provision must have been adopted before a control share acquisition to exempt it. (WY Stat § 17-18-309)

*Transfer Agent*

The Transfer Agent for our common stock is:

Globex Transfer, LLC

780 Deltona Blvd., Suite 202

Deltona, FL 32725

Phone: 813-344-4490

Fax: 386-267-3124

*OTC PINKS Considerations*

We are considering having our shares trade on the OTC PINKS.

OTC PINKS securities are not listed and traded on the floor of an organized national or regional stock exchange. Instead, OTC PINKS securities transactions are conducted through a telephone and computer network connecting dealers in stocks. OTC PINKS stocks are traditionally smaller companies that do not meet the financial and other listing requirements of a regional or national stock exchange.

To be quoted on the OTC PINKS, a market maker must file an application on our behalf in order to make a market for our common stock. We are not permitted to file such application on our own behalf. A market maker has filed an application with FINRA on our behalf so as to be able to quote the shares of our common stock on the OTC PINKS commencing upon the effectiveness of our registration statement of which this offering circular is a part. There can be no assurance that the market maker's application will be accepted by FINRA, nor can we estimate as to the time period that the application will require.

The OTC PINKS is separate and distinct from the NASDAQ stock market. NASDAQ has no business relationship with issuers of securities quoted on the OTC PINKS. The SEC's order handling rules, which apply to NASDAQ-listed securities, do not apply to securities quoted on the OTC PINKS.

Although the NASDAQ stock market has rigorous listing standards to ensure the high quality of its issuers, and can delist issuers for not meeting those standards, the OTC PINKS has no listing standards. Rather, it is the market maker who chooses to quote a security on the system, files the application, and is obligated to comply with keeping information about the issuer in its files. FINRA cannot deny an application by a market maker to quote the stock of a company assuming all FINRA questions relating to its Rule 211 process are answered accurately and satisfactorily. The only requirement for ongoing inclusion in the OTC PINKS is that the issuer be current in its reporting requirements with the SEC.

Although we anticipate that quotation on the OTC PINKS will increase liquidity for our stock, investors may have difficulty in getting orders filled because trading activity on the OTC PINKS in general is not conducted as efficiently and effectively as with NASDAQ-listed securities. As a result, investors' orders may be filled at a price much different than expected when an order is placed.

Investors must contact a broker-dealer to trade OTC PINKS securities. Investors do not have direct access to the bulletin board service. For bulletin board securities, there must be one market maker.

OTC PINKS transactions are conducted almost entirely manually. Because there are no automated systems for negotiating trades on the OTC PINKS, they are conducted via telephone. In times of heavy market volume, the limitations of this process may result in a significant increase in the time it takes to execute investor orders. Therefore, when investors place market orders - an order to buy or sell a specific number of shares at the current market price - it is possible for the price of a stock to go up or down significantly during the lapse of time between placing a market order and getting execution.

If we become able to have our shares of common stock quoted on the OTC PINKS, we will then try, through a broker-dealer and its clearing firm, to become eligible with the DTC to permit our shares to trade electronically. If an issuer is not "DTC-eligible," then its shares cannot be electronically transferred between brokerage accounts, which, based on the realities of the marketplace as it exists today (especially the OTC PINKS), means that shares of a company will not be traded (technically the shares can be traded manually between accounts, but this takes days and is not a realistic option for companies relying on broker dealers for stock transactions - like all the companies on the OTC PINKS). What this means to is that while DTC-eligibility is not a requirement to trade on the OTC PINKS, it is a necessity to process trades on the OTC PINKS if a company's stock is going to trade with any volume. There are no assurances that our shares will ever become DTC-eligible or, if they do, how long it will take.

Because OTC PINKS stocks are usually not followed by analysts, there may be lower trading volume than for NASDAQ-listed securities.

*Rule 144*

In general, under Rule 144 as currently in effect, any person who is or has been an affiliate of ours during the 90 days immediately preceding the sale and who has beneficially owned shares for at least six months is entitled to sell, within any three-month period commencing 90 days after the date of this Offering Circular, a number of shares that does not exceed the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· 1%
of the then-outstanding shares of common stock; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the
average weekly trading volume during the four calendar weeks preceding the sale, subject to the filing of a Form 144 with respect to
the sale.

Sales under Rule 144 by our affiliates are also subject to certain manner of sale provisions and notice requirements and to the availability of current public information about us.

A person who is not deemed to have been an affiliate of ours at any time during the 90 days immediately preceding the sale and who has beneficially owned his or her shares for at least six months is entitled to sell his or her shares under Rule 144 without regard to the limitations described above, subject only to the availability of current public information about us during the six months after the initial six-month holding period is met. After a non-affiliate has beneficially owned his or her shares for one year or more, he or she may freely sell his or her shares under Rule 144 without complying with any Rule 144 requirements.

We are unable to estimate the number of shares that will be sold under Rule 144, since this will depend on the market price for our common stock, the personal circumstances of the sellers and other factors. Prior to the offering, there has been no public market for the common stock, and there can be no assurance that a significant public market for the common stock will develop or be sustained after the offering. Any future sale of substantial amounts of the common stock in the open market may adversely affect the market price of the common stock offered by this Offering Circular

*State Securities – Blue Sky Laws*

Reg A, Tier I offers "covered securities" under the National Securities Markets Improvement Act of 1996 ("NSMIA") and, therefore, are exempt from state registration and qualification requirements. States can (and generally will) still require that information provided to the SEC also be filed with the state, and that the issuer pay filing fees for the privilege. Satisfying state filing requirements is far less burdensome than full Blue Sky compliance.

*ERISA Considerations*

An investment in us by an employee benefit plan is subject to additional considerations because the investments of these plans are subject to the fiduciary responsibility and prohibited transaction provisions of ERISA and restrictions imposed by Section 4975 of the Code. For these purposes the term "employee benefit plan" includes, but is not limited to, qualified pension, profit-sharing and stock bonus plans, Keogh plans, simplified employee pension plans and tax deferred annuities or IRAs established or maintained by an employer or employee organization. Among other things, consideration should be given to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· whether the investment is prudent under Section 404(a)(1)(B) of ERISA;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· whether in making the investment, that plan will satisfy the diversification
requirements of Section 404(a)(1)(C) of ERISA; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· whether the investment will result in recognition of unrelated business taxable
income by the plan and, if so, the potential after-tax investment returns.

The person with investment discretion with respect to the assets of an employee benefit plan, often called a fiduciary, should determine whether an investment in us is authorized by the appropriate governing instrument and is a proper investment for the plan.

Section 406 of ERISA and Section 4975 of the Code prohibit employee benefit plans from engaging in specified transactions involving "plan assets" with parties that are "parties in interest" under ERISA or "disqualified persons" under the Code with respect to the plan.

In addition to considering whether the purchase of Offered Shares is a prohibited transaction, a fiduciary of an employee benefit plan should consider whether the plan will, by investing in us, be deemed to own an undivided interest in our assets, with the result that our operations would be subject to the regulatory restrictions of ERISA, including its prohibited transaction rules, as well as the prohibited transaction rules of the Code.

The Department of Labor regulations provide guidance with respect to whether the assets of an entity in which employee benefit plans acquire equity interests would be deemed "plan assets" under some circumstances. Under these regulations, an entity's assets would not be considered to be "plan assets" if, among other things:

1) the equity interests acquired by employee benefit plans are publicly offered securities - i.e., the equity interests are widely held by 100 or more investors independent of the issuer and each other, freely transferable and registered under some provisions of the federal securities laws;

2) the entity is an "operating company"—i.e., it is primarily engaged in the production or sale of a product or service other than the investment of capital either directly or through a majority-owned subsidiary or subsidiaries; or

3) there is no significant investment by benefit plan investors, which is defined to mean that less than 25% of the value of each class of equity interest is held by the employee benefit plans referred to above.

We do not intend to limit investment by benefit plan investors in us because we anticipate that we will qualify as an "operating company". If the Department of Labor were to take the position that we are not an operating company and we had significant investment by benefit plans, then we may become subject to the regulatory restrictions of ERISA which would likely have a material adverse effect on our business and the value of our common stock.

Plan fiduciaries contemplating a purchase of Offered Shares should consult with their own counsel regarding the consequences under ERISA and the Code in light of the serious penalties imposed on persons who engage in prohibited transactions or other violations.

**ACCEPTANCE OF SUBSCRIPTIONS ON BEHALF OF PLANS IS IN NO RESPECT A REPRESENTATION BY OUR BOARD OF DIRECTORS OR ANY OTHER PARTY RELATED TO US THAT THIS INVESTMENT MEETS THE RELEVANT LEGAL REQUIREMENTS WITH RESPECT TO INVESTMENTS BY ANY PARTICULAR PLAN OR THAT THIS INVESTMENT IS APPROPRIATE FOR ANY PARTICULAR PLAN. THE PERSON WITH INVESTMENT DISCRETION SHOULD CONSULT WITH HIS OR HER ATTORNEY AND FINANCIAL ADVISERS AS TO THE PROPRIETY OF AN INVESTMENT IN US IN LIGHT OF THE CIRCUMSTANCES OF THE PARTICULAR PLAN.**

**LEGAL MATTERS**

The validity of the issuance of the shares of common stock offered hereby will be passed upon for us by:

Randall J. Lanham, Esq.

1816 Kimberly Lake Drive

Swansea, IL 62226

Tel: 949.933.1964

Email: lanhamlaw@outlook.com

**EXPERTS**

The financial statements of Chelsea as of March 31, 2025, and for the fiscal period then ended included in this offering circular have not been audited by independent registered public accountants and have been so included in reliance upon the report of management and given on the authority of such firm as experts in accounting and auditing.

**WHERE YOU CAN FIND MORE INFORMATION**

We have filed with the SEC a Regulation A Offering Statement on Form 1-A under the Securities Act with respect to the shares of Common Stock offered hereby. This Offering Circular, which constitutes a part of the Offering Statement, does not contain all of the information set forth in the Offering Statement or the exhibits and schedules filed therewith. For further information about us and the Common Stock offered hereby, we refer you to the Offering Statement and the exhibits and schedules filed therewith. Statements contained in this Offering Circular regarding the contents of any contract or other document that is filed as an exhibit to the Offering Statement are not necessarily complete, and each such statement is qualified in all respects by reference to the full text of such contract or other document filed as an exhibit to the Offering Statement.

Upon the completion of this Offering, we will be required to file periodic reports, proxy statements, and other information with the SEC pursuant to the Exchange Act. You may read and copy this information at the SEC's Public Reference Room, 100 F Street, N.E., Room 1580, Washington, D.C. 20549. You may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. The SEC also maintains an Internet website that contains reports, proxy statements and other information about issuers, including us, that file electronically with the SEC. The address of this site is www.sec.gov.

**CHELSEA TECH, INC.**

**CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**Unaudited**

**For the Year Ended March 31, 2025 and 2024**

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| | |
|:---|:---|
| | **PAGE** |
| [Unaudited Condensed Consolidated Balance Sheets](#a_018) | F-2 |
| [Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income](#a_019) | F-3 |
| [Unaudited Condensed Consolidated Statement of Changes in Shareholders' Equity](#a_020) | F-4 |
| [Unaudited Condensed Consolidated Statements of Cash Flows](#a_021) | F-5 |
| [Notes to the Unaudited Condensed Consolidated Financial Statements](#a_022) | F-6 to F-21 |

---

**CHELSEA TECH, INC.**

Unaudited Condensed Consolidated Balance Sheets

(Stated in U.S. Dollars)

---

| | | | |
|:---|:---|:---|:---|
|  | **Note** | **March 31,**<br> **2025** | **March 31,**<br> **2024** |
| **ASSETS** |  |  |  |
| **Current Assets** |  |  |  |
| Cash and cash equivalents |  | 25815 | 37080 |
| Prepayments to projects |  | 1033368 | 167701 |
| Other receivables, deposits and prepayments |  | 92239 | 3213 |
| **Total Current Assets** |  | 1151422 | 207994 |
| **Non-Current Assets** |  |  |  |
| Property, plant and equipment, net |  | 811267 | 927844 |
| **Total Non-Current Assets** |  | 811267 | 927844 |
| **Total Assets** |  | 1962689 | 1135838 |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |  |
| **Current Liabilities** |  |  |  |
| Unearned revenues |  | 228272 | 177558 |
| Accrued liabilities and other payables |  | 746203 | 57133 |
| Other payable – related parties |  | 93109 | 26488 |
| Current portion of long-term loan payables |  | 61764 | 28062 |
| **Total Current Liabilities** |  | 1129348 | 289241 |
| **Non-Current Liabilities** |  |  |  |
| Long-term loan payables |  | 417289 | 478349 |
| **Total Non-Current Liabilities** |  | 417289 | 478349 |
| **Total Liabilities** |  | 1546637 | 767590 |
| **Shareholders' Equity** |  |  |  |
| Common stock ($0.001 par value, 1,000,000,000 shares authorized, 400,320,000 shares issued and outstanding as of September 30, 2024 and March 31, 2024, respectively) | 9 | 400320 | 400320 |
| Subordinated shareholder's loan |  | 221154 | 221154 |
| Accumulated loss |  | (518810) | (253052) |
| Accumulated other comprehensive loss |  | (1930) | (890) |
| **Total Equity Attributable to Owners of the Company** |  | 100734 | 367532 |
| Non-controlling interest |  | 315318 | 716 |
| **Total shareholders' Equity** |  | 416052 | 368248 |
| **Total Liabilities and Shareholders' Equity** |  | 1962689 | 1135838 |

---

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

**CHELSEA TECH, INC.**

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss

(Stated in U.S. Dollars)

---

| | | | |
|:---|:---|:---|:---|
|  | | **Year Ended**<br> **March 31,**  | **Year Ended**<br> **March 31,**  |
|  | <br>**Note** | **2025** | **2024** |
| Revenue | 5 | 2577375 | 432244 |
| Cost of sales |  | (2160605) | (360647) |
| **Gross profit** |  | 416770 | 71597 |
| Selling, general and administrative expenses |  | (811839) | (341943) |
| Other revenue |  | 129942 | 147743 |
| **Loss from operations** |  | (265127) | (122603) |
| Finance income |  | 104 | 186 |
| Finance costs |  | (16948) | (10629) |
| **Loss before income tax** |  | (281971) | (133046) |
| Income tax expenses | 7 | – | – |
| **Net loss** |  | (281971) | (133046) |
| Other comprehensive loss: |  |  |  |
| Foreign currency translation adjustment, net of tax |  | (919) | (3547) |
| **Total comprehensive loss** |  | (282890) | (136593) |
| **Loss attributable to:** |  |  |  |
| Owners of the Company |  | (265758) | (126791) |
| Non-controlling interests |  | (16213) | (6255) |
|  |  | (281971) | (133046) |
| **Total comprehensive loss attributable to:** |  |  |  |
| Owners of the Company |  | (1040) | (3593) |
| Non-controlling interests |  | 121 | 46 |
|  |  | (919) | (3547) |
| Basic and diluted, attributable to owners of the Company |  | 0.00 | (0.00) |
| Weighted average number of common shares: |  |  |  |
| Basic and diluted |  | 400320000 | 400320000 |

---

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

**CHELSEA TECH, INC.**

Unaudited Condensed Consolidated Statement of Changes in Shareholders' Equity

(Stated in U.S. Dollars)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | | | | | |
|  | **Number of Shares** | **Amount** |<br>**Shareholder's Loan** |<br>**Accumulated Loss** |<br>**Accumulated Other Comprehensive Loss** |<br>**Total Equity Attributable to Owners of the Company** |<br>**Non-controlling Interests** |<br>**Total Equity** |
| **Balance at March 31, 2023** | 400320000 | 400320 | 221154 | (126261) | 2703 | 497916 | – | 497916 |
| Net loss for the year ended March 31, 2024 |  |  |  | (126791) |  | (126791) | (6255) | (133046) |
| Foreign currency translation adjustment | – | – | – | – | (3593) | (3593) | 46 | (3547) |
| Total comprehensive loss | – | – | – | (126791) | (3593) | (130384) | (6209) | (136593) |
| Capital contribution from non-controlling interest | – | – | – | – | – | – | 6925 | 6925 |
| **Balance at March 31, 2024** | 400320000 | 400320 | 221154 | (253052) | (890) | 367532 | 716 | 368248 |
| Net loss for the Year ended March 31, 2025 |  |  |  | (265758) |  | (265758) | (16213) | (281971) |
| Foreign currency translation adjustment | – | – | – | – | (1040) | (1040) | 121 | (919) |
| Total comprehensive loss | – | – | – | (265758) | (1040) | (266798) | (16092) | (282890) |
| Capital contribution from non-controlling interest | – | – | – | – | – | – | 330694 | 330694 |
| **Balance at March 31, 2025** | 400320000 | 400320 | 221154 | (518810) | (1930) | 100734 | 315318 | 416052 |

---

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

**CHELSEA TECH, INC.**

Unaudited Condensed Consolidated Cash Flows

(Stated in U.S. Dollars)

---

| | | |
|:---|:---|:---|
|  | **Year Ended**<br> **March 31,** | **Year Ended**<br> **March 31,** |
|  | **2025** | **2024** |
| **Cash flows from operating activities** |  |  |
| Net loss | (281971) | (133046) |
| Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| Depreciation | 116577 | 116576 |
| Changes in working capital: |  |  |
| Change in prepayments to projects | (865667) | (167701) |
| Change in other receivables, deposits and prepayments | (89026) | (538) |
| Change in unearned revenues | 50714 | 177558 |
| Change in accrued expenses | 689070 | 36434 |
| **Net cash provided by (used in) operating activities** | (380303) | 29283 |
| **Cash flows from investing activities** |  |  |
| Purchase of equipment | – | (5959) |
| **Net cash used in investing activities** | – | (5959) |
| **Cash flows from financing activities** |  |  |
| Repayment to related party |  | (505158) |
| Proceeds from related party payable | 66621 |  |
| Proceeds from borrowings |  | 506411 |
| Repayment to borrowings | (27358) |  |
| Capital contributions from non-controlling interest | 330694 | 6925 |
| **Net cash provided by financing activities** | 369957 | 8178 |
| **Net increase (decrease) of cash and cash equivalents** | (10346) | 31502 |
| **Cash, cash equivalents** |  |  |
| Beginning | 37080 | 9125 |
| Effect of foreign currency translation on cash and cash equivalents | (919) | (3547) |
| Ending | 25815 | 37080 |
| **Supplemental Disclosure of Cash Flows** |  |  |
| Cash paid during the periods for: |  |  |
| Interest | (16948) | (10629) |
| Income taxes |  |  |

---

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

**CHELSEA TECH, INC.**

Notes to Unaudited Condensed Consolidated Financial Statements

For the Year Ended March 31, 2025 and 2024

**NOTE 1 – GENERAL INFORMATION**

Chelsea Tech, Inc. and its wholly owned subsidiary, CanvasLand (together referred to as the "Group") is a new-generation group focusing on the promotion of "Metaverse" and art NFT. The Collaborators have cooperative artists and designers who are responsible for designing and building different Metaverse platforms, as well as promoting NFT transactions and collections. The Collaborators is focusing on Metaverse technology and developing related information technology services for virtual world programs - information technology consulting services.

The Company was incorporated on June 3, 2024 with authorized common stock capital $1,000,000 divided by 1 billion shares of $0.001 each. On June 4, 2024, 1,000 shares of common stock were issued as founder share. On June 27, 2024, 400,319,000 new shares were issued as consideration shares to acquire 100% fully issued shares of CanvasLand Limited, a Hong Kong corporation.

As the ultimate beneficiary owners of the Company are substantially the same as CanvasLand Limited after this acquisition, the consolidated financial statements for the years ended March 31, 2025 and 2024 are prepared under merger accounting basis. In summary, the share capital of the Group as of March 31, 2023 were presented as if the acquisition were in place at that date and the Company were the holding parent of the subsidiaries since then.

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

The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied unless otherwise stated.

**Basis of Preparation**

The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards, International Accounting Standards, and IFRIC interpretations (collectively IFRS). The financial statements have been prepared under the historical cost convention.

The consolidated financial statements have been prepared under the historical cost convention, except for some financial instruments that have been measured at fair value.

The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the group's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements, are disclosed in Note 4.

The amounts in the financial statements are rounded to the nearest US dollars ($).

**Going Concern**

The financial position of the Company, its cash flows, liquidity and risk position are set out in the financial statements. In addition, these reports include the Company's objectives, policies and processes for managing its capital; its financial risk management objectives; and its exposure to credit and liquidity risk.

**NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**

The financial statements have been prepared on the going concern basis. The Directors are confident, based on recent and expected financial performance that the Company will continue to operate for the foreseeable future. The financial projections for the company for the next twelve months and beyond show a growth in revenue and that the Company will have sufficient cash balances to meet their obligations as they fall due. Accordingly, they have adopted the going concern basis in preparing the Annual Report and Financial Statements.

**Changes in accounting policies and disclosures**

(a) Standards and interpretations effective and adopted in the current year

The following new and revised Standards and Interpretations are mandatory for the first time for the Group's financial years ended March 31, 2025 and 2024 and are applicable for the Group:

---

| | |
|:---|:---|
| Standard/Amendment | Effective date |
| Amendments to IAS 1, "Presentation of financial statements" – Classification of debt with covenants | 1 January 2024 |
| Amendments to IAS 21, "The Effects of Changes in Foreign Exchange Rates" – Lack of Exchangeability | 1 January 2025 |

---

The above amendments to IFRS and IAS effective for the financial years beginning on 1 January 2022 and 2023 do not have a material impact on the Group.

**Consolidation**

Subsidiaries

Subsidiaries are all entities over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group.

Inter-company transactions, balances and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated. When necessary, amounts reported by subsidiaries have been adjusted to conform with the group's accounting policies.

**NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**

**Foreign Currency Translation**

(a) Functional and Presentation Currency

The Group's functional currency is the Chinese Yuan (¥) and Hong Kong Dollars (HKD). However, the financial statements are presented in US Dollars ($), which is the Company's presentational currency.

When preparing the financial statements, the following key principles are applied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Assets and liabilities are translated from the functional currency (Chinese Yuan or Hong Kong Dollars) to the presentational currency (US Dollars) using the exchange rate at the reporting date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Income and expenses are translated from the functional currency (Chinese Yuan or Hong Kong Dollars) to the presentational currency (US Dollars) using the average exchange rate for the period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Any exchange differences arising from the translation of the functional currency to the presentational currency are recognized in other comprehensive income and accumulated in the "Foreign Currency Translation Reserve" within equity.

(b) Transactions and Balances

Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are re-measured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement.

Changes in the fair value of monetary securities denominated in foreign currency classified as Financial assets measured at fair value through profit or loss are analysed between translation differences resulting from changes in the amortised cost of the security and other changes in the carrying amount of the security. Translation differences related to changes in amortised cost are recognised in profit or loss, and other changes in carrying amount are recognised in other comprehensive income.

Translation differences on Financial assets measured at fair value through profit or loss are recognised in profit or loss as part of the fair value gain or loss. Translation differences on Financial assets measured at fair value through other comprehensive income are included in other comprehensive income.

(c) Group Companies

The results and financial position of all the Group entities (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· assets and liabilities for each Statement of Financial Position presented
are translated at the closing rate at the date of that Statement of Financial Position;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· income and expenses for each Statement of Comprehensive Income presented
are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates
prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· all resulting exchange differences are recognised in other comprehensive
income.

Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate. Exchange differences arising are recognised in other comprehensive income.

**NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**

**Property, plant and equipment**

All property, plant and equipment assets are stated at cost less accumulated depreciation and impairment losses.

Depreciation of property, plant and equipment is provided to write off the cost on a straight-line basis over the estimated useful life.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Furniture and office equipment - 5 years

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Software and IT system - 10 years

Remaining useful lives and depreciation methods are reviewed annually and adjusted if appropriate.

Gains or losses on disposal are included in profit or loss.

**Intangible assets**

All intangible assets are stated at cost less accumulated amortization and impairment losses.

Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives.

Intangible assets with indefinite lives, including patents, are not amortized, but are instead tested for impairment annually or when there is an indication of impairment, in accordance with IAS 36 Impairment of Assets.

Remaining useful lives and amortization methods for finite-lived intangible assets are reviewed annually and adjusted if appropriate.

Gains or losses on disposal of intangible assets are included in profit or loss.

**Financial Assets**

(a) Recognition and initial measurement of financial assets

The Group initially recognizes trade receivables on the date they are incurred. All other financial assets are initially recognized on the trade date or when the Company becomes a party to the contractual provisions of the instrument. With the exception of trade receivables that do not contain a significant financing component and are measured at transaction price in accordance with IFRS 15, all financial assets are initially measured at fair value, adjusted for transaction costs (if any).

(b) Classification and subsequent measurement of financial assets

Upon initial recognition, a financial asset is classified into one of the following categories: amortised cost or fair value through other comprehensive income (FVOCI). Financial assets are not subsequently reclassified unless and until management changes its business model for managing its financial assets. Amortised cost is subsequently reduced by any impairment losses. Interest income, foreign exchange gains and losses and impairments are recognized in the statement of comprehensive income.

Financial assets carried at amortized costs include cash and accounts receivable. After initial recognition, financial assets carried at amortized cost are measured at amortized cost using the effective interest method. Discounting is not applied if the effect of discounting is immaterial.

Financial assets that are measured using FVOCI are measured at fair value with gains and losses recognized in other comprehensive income. Changes in the fair value of financial assets classified as FVOCI are reported as fair value gains and losses in other comprehensive income. Dividends from equity investments are recognised in profit or loss as "Dividend income".

**NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**

**Financial Assets (continued)**

(c) Disposal of financial assets

On derecognition of financial assets carried at amortized cost, the difference between the carrying amount derecognised and the consideration received (including any non-cash assets transferred or liabilities disposed of) is recognised in the statement of comprehensive income.

On derecognition of a financial asset measured using FVOCI, any difference between the carrying amount and the consideration received is recognised in other comprehensive income and transferred to retained earnings together with any amount previously recognised in other comprehensive income relating to that asset.

(d) Offsetting financial assets

Financial assets and liabilities are offset, and the net amount reported in the Statement of Financial Position when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the company or the counterparty.

(e) Fair value of financial assets

The fair values of financial assets classified at FVTOCI are categorised into one of three levels of the fair value hierarchy based on the relative reliability of the inputs used to estimate the fair values. Each type of fair value is categorised based on the lowest level input that is significant to the fair value measurement. Further information on the three levels of the fair value hierarchy for the valuation of these assets is set out in Note 3 'Fair value estimation'.

**Impairment of Financial Assets**

The Group recognizes loss allowances for expected credit losses ("ECLs") in accordance with the guidelines provided by IFRS 9 Financial Instruments on impairment of all financial assets. The Group uses the general approach model on the recognition and measurement of ECLs, which is based on changes in credit quality since initial application.

ECL represents the estimated credit loss that the Group expects to incur over a 12-month basis. The ECL calculation involves the following steps:

Determination of PD and LGD: Management assesses historical data, forward-looking information, and external factors to arrive at a reasonable estimate of the Probability of Default (PD) and Loss Given Default (LGD).

Calculation of ECL: The ECL is calculated by multiplying the carrying amount of the trade receivable by the PD and LGD, resulting in a loss amount.

Recognition of receivable allowance – Amortized Cost Assets: The loss amount for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets.

Recognition of receivable allowance – FVTOCI Assets: The loss amount is expensed to the statement of comprehensive income and recognized as a receivable allowance in the liabilities section of the statement of financial position.

The Group periodically monitors and assesses the credit risk associated with its financial assets and will adjust the ECL calculation as appropriate based on changes in circumstances and additional information.

**NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**

**Trade Receivables**

Trade receivables acquired by the entity during the period are recognised and measured in accordance with IFRS 9 Financial Instruments. Management has elected to classify these trade receivables as financial assets at fair value through other comprehensive income (FVTOCI) based on the entity's business model for managing these financial assets and applying the contractual cash flow characteristics test where applicable.

Upon initial recognition, trade receivables are measured at fair value, which is generally the transaction price. After initial recognition, these financial assets are measured at fair value with changes in fair value recognised in other comprehensive income. However, the Group also considers the expected credit loss (ECL) associated with each individual trade receivable, where the ECL amount is expensed to the statement of comprehensive income and recognized as a receivable allowance in the liabilities section of the statement of financial position. Details on the approach of the calculation of ECLs can be seen on 'Impairment of Financial Assets'.

The Group periodically monitors and assesses the credit risk associated with its trade receivables and will adjust the ECL calculation as appropriate based on changes in circumstances and additional information.

**Cash and Cash Equivalents**

In the consolidated Statement of Cash Flows, cash and cash equivalents comprise cash in hand.

**Trade Payables**

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Trade payables are recognised initially at fair value, and subsequently measured at amortised cost using the effective interest method.

**Current and Deferred Income Tax**

The tax expense for the year comprises current tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised directly in equity. In this case the tax is also recognised directly in other comprehensive income or directly in equity, respectively.

The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period in the countries where the Company's subsidiaries operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

Deferred income tax is recognised, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, the deferred tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that, at the time of the transaction, affects neither accounting nor taxable profit nor loss. Deferred income tax is determined using tax rates (and laws) that have been enacted, or substantially enacted, by the end of the reporting period and are expected to apply when the related deferred income tax asset is realised, or the deferred income tax liability is settled.

**NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**

**Current and Deferred Income Tax (continued)**

Deferred income tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Deferred income tax liabilities are provided on taxable temporary differences arising from investments in subsidiaries, associates and joint arrangements, except for deferred income tax liability where the timing of the reversal of the temporary difference is controlled by the group and it is probable that the temporary difference will not reverse in the foreseeable future.

Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities, and when the deferred income tax assets and liabilities relate to income taxes levied by the same taxation authority on either the taxable entity or different taxable entities where there is an intention to settle the balances on a net basis.

**Common Stock**

Ordinary shares are classified as equity.

Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.

**Provisions**

Provisions are recognised when the Group has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation, using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to the passage of time is recognised as interest expense.

**Leases**

Leases are recognised as finance leases. The lease liability is initially recognised at the present value of the lease payments which have not yet been made and subsequently measured under the amortised cost method. The initial cost of the right-of-use asset comprises the amount of the initial measurement of the lease liability, lease payments made prior to the lease commencement date, initial direct costs and the estimated costs of removing or dismantling the underlying asset per the conditions of the contract.

Where ownership of the right-of-use asset transfers to the lessee at the end of the lease term, the right-of-use asset is depreciated over the asset's remaining useful life. If ownership of the right-of-use asset does not transfer to the lessee at the end of the lease term, depreciation is charged over the shorter of the useful life of the right-of-use asset and the lease term.

**NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**

**Revenue Recognition**

The Company records revenue from contracts with customers in accordance with IFRS 15 Revenue from Contracts with Customers as follows:

· Identify
the contract with a customer;

· Identify
the performance obligations in the contract;

· Determine
the transaction price, which is the total consideration provided by the customer;

· Allocate
the transaction price among the performance obligations in the contract based on their relative fair values; and

· Recognize
revenue when (or as) the Company satisfies a performance obligation.

The following are the specific revenue recognition criteria which must be met before revenue is recognized:

a. Revenue from sales of services

The Company provides an all-round Metaverse-NFT-Blockchain service to clients who want to develop their customised metaverses and NFT products on the blockchain.

1. NFT Design and Smart Contract
Development.

2. 3D assets creation that
are compatible with Sandbox, Decentraland, and other metaverses.

3. Customised architectural
development in the metaverse.

4. Metaverse games implementation.

5. Consultation on the metaverse,
NFT, and WEB3.

For sales of services, revenue is recognised in the accounting period in which the services are rendered, by reference to the stage of completion of the specific transaction and is assessed on the basis of the actual service provided as a proportion of the total services to be provided.

**Dividend Distribution**

Dividend distribution to the Company's shareholders is recognised as a liability in the Group's financial statements in the period in which the dividends are approved by the Company's shareholders. Where the dividend is paid in specie, the value of the dividend is based on valuation criteria stipulated in IFRS 13 at the date of board resolution issuing the dividend.

**NOTE 3 – FINANCIAL RISK MANAGEMENT**

**Financial Risk Factors**

The Group's activities expose it to a variety of financial risks: market risk (including currency risk, fair value interest rate risk, cash flow interest rate risk and price risk), credit risk, liquidity risk, cybersecurity risk, regulatory landscape risk and political risk. The Group's overall risk management programme focuses on the unpredictability of financial markets, and seeks to minimise potential adverse effects on the Group's financial performance.

(a) Market Risk

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Foreign Exchange Risk

The Group is exposed to equity securities price risk because of investments held by the Company, classified on the Consolidated Statement of Financial Position as financial assets at fair value through other comprehensive income. To manage its price risk arising from investments in equity securities, the Group diversifies its portfolio.

**NOTE 3 – FINANCIAL RISK MANAGEMENT (Continued)**

**Financial Risk Factors (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Price Risk

The Group is exposed to equity securities price risk because of investments held by the Group, classified on the Consolidated Statement of Financial Position as financial assets at fair value through other comprehensive income. To manage its price risk arising from investments in equity securities, the Group diversifies its portfolio.

(b) Credit Risk

Credit risk is managed on a Group basis, except for credit risk relating to accounts receivable balances. Each local entity is responsible for managing and analysing the credit risk for each of their new clients before standard payment and delivery terms and conditions are offered. Credit risk arises from cash and cash equivalents and deposits with banks and financial institutions.

(c) Liquidity Risk

Cash flow forecasting is performed in the operating entities of the Group, and aggregated by Group Finance. Group Finance monitors rolling forecasts of the Group's liquidity requirements to ensure it has sufficient cash to meet operational needs. Such forecasting takes into consideration the Group's debt financing plans, covenant compliance, compliance with internal Statement of Financial Position ratio targets, and external regulatory or legal requirements (for example, currency restrictions).

(d) Political Risk

The Group's clients are primarily US based shell companies which are invested and taken control of by Chinese based investors. Tensions between the USA and China during the period has translated into various increased restrictions on trade and this has resulted in heightened uncertainty in China-USA deals. Management is aware of the potential impact these conditions may have on the overall liquidity of investments held by the Group and have considered this impact in their fair-value valuation methodology.

(e) Regulatory Landscape Risk

Cryptocurrencies currently face an uncertain regulatory landscape in many jurisdictions. In addition, many cryptocurrency derivatives are regulated by the provisions of national and supra-national (i.e. EU) securities legislation; moreover, some state securities regulators have cautioned that many initial coin offerings are likely to fall within the definition of a security and subject to their respective securities laws. One or more jurisdictions may, in the future, adopt laws, regulations or directives that affect cryptocurrency networks and their users. Such laws, regulations or directives may impact the price of cryptocurrencies and their acceptance by users, merchants and service providers.

(f) Global Risk

Covid-19 and the recent Russia-Ukraine war has impacted on the Company's clients, delaying the whole private funding to kickstart the listing process by way of Introduction. This somehow will make our own books look "over-valued". In fact, since the listing time frame has extended for about 4 months from original plan, financial assets at fair value through other comprehensive income will only be able to realised at an equivalent delayed date. The comparative impacted global environment will possibly give us fewer clients this year, nevertheless those cherry-picked ones will be extremely a gem to our clients' list for surviving those conditions as well.

**NOTE 3 – FINANCIAL RISK MANAGEMENT (Continued)**

**Capital Risk Management**

The Group's objectives when managing capital are to safeguard the Group's ability to continue as a going concern, to provide returns for shareholders and benefits for other stakeholders.

In order to maintain or adjust the capital structure, the Group may adjust the amount of dividends paid to shareholders or issue new shares.

**Fair Value Estimation**

The different levels in the fair value of financial instruments are defined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· quoted prices (unadjusted) in active markets for identical assets or liabilities
(Level 1);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· inputs other than quoted prices included within Level 1 that are observable
for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (Level 2);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· inputs for the asset or liability that are not based on observable market
data (that is, unobservable inputs) (Level 3).

(a) Financial instruments in level 1

The fair value of financial instruments traded in active markets is based on quoted market prices at the end of the reporting year. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm's length basis. The quoted market price used for financial assets held by the Group is the current bid price. These instruments are included in Level 1.

(b) Financial instruments in level 2

The fair value of financial instruments that are not traded in an active market (for example, over-the-counter derivatives) is determined by using valuation techniques. These valuation techniques maximise the use of observable market data where it is available and rely as little possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in Level 2.

If one or more of the significant inputs is not based on observable market data, the instrument is included in Level 3.

Specific valuation techniques used to value financial instruments include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· quoted market prices or dealer quotes for similar instruments; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· other techniques, such as discounted cash flow analysis, are used to determine
fair value for the remaining financial instruments.

(c) Financial instruments in level 3

Valuations based on inputs that are unobservable and not corroborated by market data. The fair value for such assets and liabilities is generally determined using pricing models, discounted cash flow methodologies, or similar techniques that incorporate the assumptions a market participant would use in pricing the asset or liability.

**NOTE 4 – CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS**

Estimates and judgments are continually evaluated, and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical Accounting Estimates and Assumptions

The preparation of these financial statements in conformity with IFRS requires management to make estimates and assumptions that affect the amounts reported the financial statements and accompanying notes in respect of revenues, expenses, assets and liabilities.

Management believes that the estimates utilised in preparing its financial statements are reasonable and prudent. Actual results could differ from these estimates. However, estimates and judgements are continually evaluated based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key estimates, assumptions and judgements that have a significant risk of causing material adjustments to the carrying amounts of assets and liabilities within the next financial year are as follows:

(a) Income Taxes

The Group is subject to income taxes in numerous jurisdictions. Significant judgment is required in determining the worldwide provision for income taxes. The Group recognises liabilities for anticipated tax audit issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will affect the current and deferred income tax assets and liabilities in the year in which such determination is made.

(b) Financial assets at Fair Value Through Other Comprehensive Income

The Group has undertaken a fair value exercise in accordance with IFRS 9 Financial Instruments to ascertain the fair value of shares receivable and held at the year end, where management has elected to classify shares and receivables acquired by the Group during the reporting periods as financial assets at fair value through other comprehensive income (FVOCI). The critical estimate in this regard involves determining the fair value of the acquired shares and receivables, and whether such acquisitions align with the Group's business model for holding these financial assets. Changes in fair value and assessments of the business model may result in material fluctuations in the valuation of these financial assets and could impact comprehensive income. These are discussed more detail in the risks section in Note 3.

(c) Intangible assets

The valuation and amortization of intangible assets, including patents, are subject to critical accounting estimates and assumptions. Patents are recognized as intangible assets with either a definite or indefinite life, depending on their specific characteristics and the Company's ability to continually update and renew them. For patents considered to have a definite life, the useful life is estimated based on factors such as the patent's expiration date, potential for technological advancements, and market demand, and are amortized accordingly. For patents considered to have an indefinite life, they are not amortized but are instead tested for impairment annually or when there is an indication of impairment, in accordance with IAS 36 Impairment of Assets. The estimation of the useful life or the determination of indefinite life, as well as the selection of a discount rate to calculate the present value of future cash flows, require significant judgment and are subject to uncertainty. The Company's management believes that these estimates and assumptions are reasonable, however, changes in these estimates and assumptions could have a significant impact on the financial statements.

(d) Share Based Payments

The estimation of the Company's potential exposure to misstated assets from equity settled share based payments are subject to a number of variables and assumptions many of which can have a material impact on the level of revenue and asset recognised in the financial statements. As mentioned above, these financial instruments are level 3 and subject to significant estimation risk which could have a material effect on the financial statements due to the reliance placed on subjective valuations.

**NOTE 5 – SEGMENT INFORMATION**

Management has determined that the Group has one operating segment, which is the sales of services in relation to software development and consultancy on metaverse production and NFT and WEB3 solutions. The financial information in these financial statements therefore relate solely to this segment. All revenues are derived from companies based in Hong Kong.

---

| | | |
|:---|:---|:---|
|  | **Year Ended**<br> **March 31,**  | **Year Ended**<br> **March 31,**  |
|  | **2025** | **2024** |
|  | $ | $ |
| **Analysis of revenue by category** |  |  |
| Sales of services: |  |  |
| Software development income | 25773751 | 389054 |
| Consultancy income | – | 43190 |
|  | 2577375 | 432244 |

---

**NOTE 6 – PRINCIPAL SUBSIDIARIES**

Details of the direct subsidiaries included in consolidation are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name** | **Place of Establishment** | **Registered**<br> **Capital** | **Proportion of ownership interests** | **Principal Activities** |
| CanvasLand Limited | Hong Kong | HKD1,000 | 100% | Provision of an all-round Metaverse-NFT-Blockchain service |
| 广东超现数字科技有限公司(Guang Dong Chao Xian Digital Technology Limited) | PRC | RMB5,000,000 | 51% | Provision of technical services in software |

---

**NOTE 7 – INCOME TAX EXPENSE**

The Company has operations in Hong Kong and the PRC and are subject to tax in the jurisdictions in which they operate, as follows:

---

| |
|:---|
| Current tax: |
| Current tax on profits for the year |
| Total current tax |
| Deferred tax: |
| Deferred tax assets for NOL carry-forwards |
| Valuation allowance |
| Total deferred tax |
| Income tax expense |

---

The reconciliation of income tax rate to the effective income tax rate based on income before income taxes for the Year ended March 31, 2025 and 2024 are as follows:

---

| | | |
|:---|:---|:---|
|  | **Year Ended**<br> **March 31,**  | **Year Ended**<br> **March 31,**  |
|  | **2025** | **2024** |
|  | $ | $ |
| Net income before income tax) |  |  |
| Statutory tax rate |  |  |
| Income tax provision) |  |  |
| Valuation allowance |  |  |
| Income tax expenses, net |  |  |

---

Significant components of the Company's deferred taxes assets as follows:

---

| |
|:---|
| Deferred tax assets: |
| Net operating loss carry-forwards |
| Less: Valuation allowance |
| Deferred tax assets, net |

---

**NOTE 8 – FINANCIAL INSTRUMENTS BY CATEGORY**

---

| | | |
|:---|:---|:---|
|  | **March 31, 2025** | **March 31, 2025** |
|  | Financial assets <br>at amortised cost | Total |
|  | $ | $ |
| Assets per Statement of Financial Position |  |  |
| Cash and cash equivalents | 25815 | 25815 |
| Prepayments to projects | 1033368 | 1033368 |
| Other receivables, deposits and prepayments | 92239 | 92239 |
| Total | 1151422 | 1151422 |

---

---

| | | |
|:---|:---|:---|
|  | **March 31, 2024** | **March 31, 2024** |
|  | Financial assets <br>at amortised cost | Total |
|  | $ | $ |
| Assets per Statement of Financial Position |  |  |
| Cash and cash equivalents | 37080 | 37080 |
| Prepayments to projects | 167701 | 167701 |
| Other receivables, deposits and prepayments | 3213 | 3213 |
| Total | 207994 | 207994 |

---

---

| | | |
|:---|:---|:---|
|  | **March 31, 2025** | **March 31, 2025** |
|  | Other financial <br>liabilities <br>at amortised cost | Total |
|  | $ | $ |
| Liabilities per Statement of Financial Position |  |  |
| Unearned revenues | 228272 | 228272 |
| Accrued liabilities and other payables | 746203 | 746203 |
| Other payables – related parties | 93109 | 93109 |
| Total | 1067584 | 1067584 |

---

---

| | | |
|:---|:---|:---|
|  | **March 31, 2024** | **March 31, 2024** |
|  | Other financial <br>liabilities <br>at amortised cost | Total |
|  | $ | $ |
| Liabilities per Statement of Financial Position |  |  |
| Unearned revenues | 177558 | 177558 |
| Accrued liabilities and other payables | 57133 | 57133 |
| Other payables – related parties | 26488 | 26488 |
| Total | 261179 | 261179 |

---

**NOTE 9 – COMMON STOCK**

Company

---

| | | | |
|:---|:---|:---|:---|
|  | Number of <br>Shares | Ordinary <br>Shares | Total |
|  | | $ | $ |
| At March 31, 2025 | 400320000 | 400320 | 400320 |

---

The Company was incorporated on June 3, 2024 with authorized common stock capital $1,000,000 divided by 1 billion shares of $0.001 each. On June 4, 2024, 1,000 shares of common stock were issued as founder share. On June 27, 2024, 400,319,000 new shares were issued as consideration shares to acquire 100% fully issued shares of CanvasLand Limited, a Hong Kong corporation.

As the ultimate beneficiary owners of the Company are substantially the same as CanvasLand Limited after this acquisition, the consolidated financial statements for the years ended March 31, 2025 and 2024 are prepared under merger accounting basis. In summary, the share capital of the Group as of March 31, 2023 were presented as if the acquisition were in place at that date and the Company were the holding parent of the subsidiaries since then.

**NOTE 10 – RELATED PARTIES**

Related parties of the Group during the Year ended March 31, 2025 and 2024 consist of the following:

---

| | |
|:---|:---|
| <u>Name of Related Party</u> | <u>Nature of Relationship</u> |
| Pak Keung Andy, CHEN (i) | Majority Shareholder, Director and Officer of the Company |
| Ching Han, LAM (i) | Majority Shareholder and Director of the Company |
| Asia Top Loyalty Limited and<br> Rich Dragon Consultants Limited (ii) | Company under control of Pak Keung Andy, CHEN and Ching Han, LAM |

---

Note:

&nbsp;&nbsp;&nbsp;&nbsp;(i) The Company is controlled by the couple of Mr. Pak Keung Andy, CHEN and Mrs. Ching Han, LAM, by virtue of 82.5% ownership of the Company's
ordinary shares.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Pak Keung Andy, CHEN, director of the company, is the common director of Asia Top Loyalty Limited and Rich Dragon Consultants Limited.

Other payables – related parties

The Group has advanced funds from its director and shareholder Pak Keung Andy, CHEN for working capital purposes. As of March 31, 2025 and March 31, 2024, there were $93,109 and $26,488 advance outstanding, respectively. The Company has agreed that the outstanding balances bear 0% interest rate and are due upon demand after thirty days of written notice by the director and shareholder.

During the Year ended March 31, 2025, the Group had an advance of $66,621 from Pak Keung Andy.

Subordinated shareholder's loan

The Group has also a subordinated loan from its director and shareholder Pak Keung Andy, CHEN for working capital purposes. As of March 31, 2025 and March 31, 2024, there were $221,154 subordinated loan outstanding, respectively. The Company has agreed that the outstanding balances bear 0% interest rate.

**NOTE 11 – EVENTS AFTER THE REPORTING PERIODS**

In accordance with IAS 10 Events after the Reporting Period, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before consolidated financial statements are issued, the Group has evaluated all events or transactions that occurred after March 31, 2025, up through the date the Group issued the audited consolidated financial statements. The Group determined that there are no further events to disclose.

**PART III**

**INDEX TO EXHIBITS**

---

| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| 2.1 | [Certificate of Incorporation/Articles of Incorporation](chelsea_ex0201.htm) |
| 2.2 | [Bylaws](chelsea_ex0202.htm) |
| 4.1 | [Form of Subscription Agreement](chelsea_ex0401.htm) |
| 6.1 | [Share Exchange Agreement](chelsea_ex0601.htm) |
|  12.1 | [Opinion of Counsel](chelsea_ex1201.htm) |

---

_____________

\* To be filed by amendment.

**SIGNATURES**

Pursuant to the requirements of Regulation A, the issuer certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form 1-A and has duly caused this offering statement to be signed on its behalf by the undersigned, thereunto duly authorized, in San Diego, California, on June 11, 2025.

---

| | |
|:---|:---|
| **Chelsea Tech, Inc.** | **Chelsea Tech, Inc.** |
| By: | /s/ *Andy Chen* |
|  | Andy Chen<br>President & CEO |

---

This Offering Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| |
|:---|
| /s/ *Andy Chen* |
| Andy Chen |
| President, CEO and Chairman |
| Date: June 11, 2025 |

---

---

| |
|:---|
| /s/ *En Wah Kung* |
| En Wah Kung |
| Chief Financial Officer |
| Date: June 11, 2025 |

---

## Ex1A-2A

**Exhibit 2.1**

![](image_02.jpg)

![](image_03.jpg)

![](image_04.jpg)

![](image_05.jpg)

## Ex1A-2B

**Exhibit 2.2**

<u>BYLAWS</u>

<u>OF</u>

<br> <u>Chelsea Tech, Inc.</u>

 <u><br> ARTICLE I — OFFICES</u>

The principal office of the corporation in the State of Wyoming shall be located in the City of Cheyenne. The Corporation may have such other offices, either within or without the State of Wyoming, as the Board of Directors may designate or as the business of the Corporation may require from time to time.

The registered office of the Corporation, may be maintained in the State of Wyoming, but need not be identical with the principal office in the State of Wyoming, and the address of the registered office may be changed from time to time by the Board of Directors.

<u>ARTICLE II — MEETING OF SHAREHOLDERS</u>

<u>Section 1 — Annual Meetings</u>

The annual meeting of the shareholders of the Corporation shall be held on the 3rd. day of June, in each year, at the hour of 9:00 o'clock a.m., or such other time or day within such month as shall be fixed by the Board of Directors, for the purpose of electing directors, and for transacting such other business as may properly come before the meeting.

Failure to hold an annual meeting at the time stated in or fixed in accordance with these Bylaws does not affect the validity of such corporate action.

<u>Section 2 — Special Meetings</u>

Special meetings of the shareholders may be called for any purpose or purposes, unless otherwise prescribed by statute, at any time by the Board of Directors, or by the President, and shall be called by the President or the Secretary at the written request of the holders of not less than ten per cent (10%) of all shares of the Corporation then outstanding entitled to vote thereat, so long as such written request is signed by all shareholders mentioned herein, describes the purpose or proposes for which it is to be held and is delivered to the Corporation.

<u>Section 3 — Place of Meetings</u>

The Board of Directors may designate any place, either within or without the State of Wyoming, as the place of meeting for any annual or for any special meeting called by the Board of Directors. If no designation is made, or if a special meeting be otherwise called, the place of meeting shall be the principal office of the Corporation in the State of Wyoming.

<u>Section 4 — Notice of Meetings</u> 

(a) Written notice of each meeting of shareholders, whether annual or special, stating the time, date, hour
of the meeting and place where it is to be held, and in the case of a special meeting, the purpose or purposes for which the meeting is
called, (only business within the purpose or purposes shall, unless otherwise prescribed by law, be served either personally of by mail
by or at the direction of the President or Secretary, or the officer or other person or persons calling the meeting, not less than ten
or more than sixty days before the meeting, upon each shareholder of record entitled to vote at such meeting, and to any other shareholder
to whom the giving of notice may be required by law. If mailed, such notice shall be deemed to be delivered when deposited in the United
States mail, addressed to the shareholder at his/her address as it appears on the stock transfer books of the Corporation, with postage
thereon prepaid. If, at any meeting, action is proposed to be taken that would, if taken, entitle shareholders to receive payment for
their shares pursuant to the Business Corporation Act, the notice of such meeting shall include a statement of that purpose and to that
effect. If mailed, such notice shall be directed to each such shareholder at his address, as it appears on the records of the shareholders
of the Corporation, unless he shall have previously filed with the Secretary of the Corporation a written request that notices intended
for him be mailed to some other address, in such case, it shall be mailed to the address designated in such request.

(b) Notice of any meeting need not be given to any person who may become a shareholder of record after mailing
of such notice, to any shareholder who submits a signed waiver of notice either before or after such meeting, or to any shareholder who
attends such meeting, in person or by proxy, and fails to object to lack of notice or defective notice of the meeting at the beginning
of such meeting.

(c) If an annual or special shareholders' meeting is adjourned to a different date, time or
 place, notice need not be given of the new date, time, or place if the new date, time, or place is announced at the meeting before
 adjournment. If a new record date for the adjoined meeting is or must be fixed by law, however, notice of the adjourned meeting must
 be given under this section of these Bylaws to persons who are shareholders as of the new record date.

<u>Section 5 — Quorum</u>

(a) Except as
otherwise provided herein, or by law, or in the Articles of Incorporation (such Articles and any amendments thereof being hereinafter
collectively referred to as the "Articles of Incorporation"), at all shareholders' meetings, a majority of the shares of the
Corporation entitled to vote thereat and represented at such meeting either in person or by proxy shall constitute a quorum. If less
than a majority of the outstanding shares entitled to vote are represented at a shareholders' meeting, a majority of the shares so represented
may adjourn the meeting from time to time without further notice. At such adjourned meeting at which a quorum shall be present or presented,
any business may be transacted which was outlined in the original notice for the meeting. The shareholders present at a duly organized
meeting may continue to transact business until adjournment, notwithstanding the withdrawal of enough shareholders to leave less than
a quorum.

<u>Section 6 — Voting</u>

(a) Except as otherwise provided by statute or by the Articles of Incorporation, any corporate action, other
than the election of directors to be taken by vote of the shareholders, shall be authorized by a majority of votes cast at a meeting of
shareholders by the holders of shares entitled to vote thereon.

(b) Except as otherwise provided by statute or by the Articles of Incorporation, at each meeting of shareholders,
each outstanding share of the Corporation entitled to vote thereat, shall be entitled to one vote for each share registered in his name
on the books of the Corporation on each matter voted on at such shareholders' meeting.

(c) Each shareholder entitled to vote or to express consent or dissent without a meeting,
 may do so in person or by proxy; provided, however, that the instrument authorizing such proxy to act shall have been executed in
 writing by the shareholder himself, or by his duly authorized attorney-in-fact which is sent to the Secretary or other officer or
 agent of the Corporation authorized to tabulate votes. No proxy shall be valid after the expiration of eleven months from the date
 of its execution, unless the persons executing it shall have specified therein the length of time it is to continue in force. Such
 instrument shall not be valid until received by the Secretary, or other officer or agent authorized to tabulate votes at the meeting
 and shall be filed with the records of the Corporation. The death or incapacity of the shareholder appointing a proxy does not
 affect the right of the Corporation to accept the proxy's authority unless notice of the death or incapacity is received by the
 secretary or other officer or agent of the Corporation authorized to tabulate votes before the proxy exercises his or her authority
 under the appointment.

(d) Any action required or permitted to be taken at a meeting of the shareholders may be taken without a meeting
if a consent in writing, setting forth the actions so taken shall be signed by all of the shareholders entitled to vote with respect to
the subject matter thereof.

<u>ARTICLE III — BOARD OF DIRECTORS</u>

 <u><br> Section 1 — Number, Election and Term of Office</u>

(a) The number of directors of the Corporation shall be two (2), unless otherwise determined by vote of a
 majority of the entire Board of Directors.

(b) Except as may otherwise be provided herein or in the Articles of Incorporation, the
 members of the Board of Directors of the Corporation, who need not be shareholders or residents of the State of Wyoming, shall be
 elected by a majority of the votes cast at a meeting of shareholders, by the holders of shares entitled to vote in the
 election.

(c) Each director
shall hold office until the next annual meeting of the shareholders, and until his successor is elected and qualified, or until his prior
death, resignation or removal.

<u>Section 2 — Duties and Powers</u>

The Board of Directors shall manage the business and affairs of the Corporation.

<u>Section 3 — Annual and Regular Meetings; Notice</u>

(a) A regular annual meeting of the Board of Directors shall be held without any other notice than this Bylaw,
immediately following and at the same place as the annual meeting of the shareholders.

(b) The Board of Directors, from time to time, may provide by resolution for the time and place, either within
or without the State of Wyoming, for the holding of additional regular meetings without other notice than such resolution.

(c) The Board of Directors may participate in any meeting of the Board or conduct such meeting through the
use of any means of communication in which all Directors participating may simultaneously hear each other during the meeting. Any or all
Directors participating by this means are deemed to be present and in person at such meeting.

<u>Section 4 — Special Meetings; Notice</u>

(a) Special meetings of the Board of Directors may be called by or at the request of the President or by one
of the directors, or by any other officer or individual so specified by the Board, at such time and place as may be specified in the respective
notices or waivers of notice thereof.

(b) The person or persons authorized to call such special meeting may fix any places, either within or without
the State of Wyoming, as the place for holding any such special meeting called by them.

(c) Notice of special meetings shall be mailed directly to each director, addressed to him at his residence
or usual place of business, at least two (2) days before the day on which the meeting is to be held, or shall be sent to him at such place
by telegram, radio or cable, or shall be delivered to him personally or given to him orally, not later than the day before the day on
which the meeting is to be held. If mailed, such notice shall be deemed to be delivered when deposited in the United States mail, so addressed,
with postage thereon prepaid. If notice be given by telegram, such notice shall be deemed to be delivered when the telegram is delivered
by the telegraph company. A notice, or waiver of notice, except as required by Section 8 of this Article III, need not specify the purpose
of the meeting.

(d) Any Director
may waive notice of any meeting. The attendance of a director at a meeting shall constitute a waiver of notice of such meeting except
where a Director attends a meeting for the express purpose of objecting to the transaction of any business because the meeting is not
lawfully called or convened.

<u>Section 5 — Chairperson</u>

At all meetings of the Board of Directors the Chairperson of the Board, in any and if present, shall preside. If there shall be no Chairperson, or he shall be absent, then the President shall preside, and in his absence, a Chairperson chosen by the Directors shall preside.

<u>Section 6 — Quorum and Adjournments</u>

(a) A majority of the number of Directors shall constitute a quorum for the transaction of business at any meeting of the Board of Directors,
but if less than such majority is present at the meeting, a majority of the directors present may adjourn the meeting from time to time
without further notice.

<u>Section 7 — Manner of Acting</u>

(a) At all meetings of the Board of Directors, each director present shall have one vote, irrespective of
the number of shares of stock, if any, which he may hold.

(b) If a quorum is present when a vote is taken, the affirmative vote of a majority of Directors present is
the act of the Board of Directors unless the Articles of Incorporation or these Bylaws require the vote of a greater number of Directors.

(c) A Director who is present at a meeting of the Board of Directors or a committee of the Board of Directors
when corporate action is taken is deemed to have assented to the action taken unless: (i) he objects at the beginning of the meeting,
or promptly upon his arrival, to holding it or transacting business at the meeting; (ii) his dissent or abstention from the action taken
is entered in the minutes of the meeting; or (iii) he delivers written notice of his dissent or abstention to the president officer of
the meeting before it is adjourned or to the Corporation immediately after adjournment of the meeting. The right of dissent or abstention
is not available to a Director who votes in favor of the action taken.

(d) Any action required or permitted to be taken by the Board of Directors at a meeting may be taken without
a meeting if a consent in writing, setting forth the action so taken, shall be signed by all of the Directors and included in the minutes
or filed with the corporate records reflecting the action taken. Any such action taken without a meeting shall be deemed effective when
the last director signs the consent, unless the consent specifies a different effective date, and such signed consent has the effect of
a meeting vote and may be described as such in any document.

(e) A director
of the Corporation who is present at a meeting of the Board of Directors when a corporate action is taken is deemed to have assented to
the action taken unless: (i) he or she objects at the beginning of the meeting, or promptly upon his arrival, to holding it or transacting
business at the meeting; (ii) his or her dissent or abstention from the action taken is entered in the minutes of the meeting, or; (iii)
he or she delivers written notice of his dissent or abstention to the presiding officer of the meeting before its adjournment or immediately
after adjournment of the meeting. The right of dissent or abstention is not available to a Director who votes in favor of the action taken.

<u>Section 8 — Vacancies</u>

(a) Unless the Articles of Incorporation of the Corporation or these Bylaws provide otherwise, if a vacancy
occurs on the Board of Directors, including a vacancy resulting from any increase in the number of directors: (i) the shareholders may
fill the vacancy; (ii) the Board of Directors may fill the vacancy; or (iii) if the directors remaining in office constitute fewer than
a quorum of the Board, they may fill the vacancy by the affirmative vote of a majority of all the Directors remaining in office.

(b) If the vacant office was held by a Director elected by a voting group of shareholders, only the shareholders
of that voting group are entitled to vote to fill the vacancy if it is filled by the shareholders.

(c) A vacancy that will occur at a specific later date may be filled before the vacancy
 occurs, but the new Director may not take office until the vacancy occurs.

<u>Section 9 — Resignation</u>

Any director may resign at any time by delivering written notice to the Corporation. A resignation is effective when the notice is delivered unless the notice specifies a later effective date.

<u>Section 10 — Removal of Directors by Shareholders and Directors</u>

(a) Any director may be removed with or without cause at any time by the shareholders of the
 Corporation at a special meeting called for the purpose of removing him and the meeting notice must state that the purpose, or on of
 the purposes, of the meeting is removal of the director.

(b) Any director elected by a voting group of shareholders may be removed only by the
 shareholders of that voting group.

(c) Any director may be removed for cause by action of the Board.

<u>Section 11 — Salary</u>

By resolution of the Board of Directors, each Director may be paid his/her expenses, if any, of attendance at each meeting of the Board of Directors, and may be paid a fixed sum for attendance at each meeting of the Board of Directors. No such payment shall preclude any Director from serving the Corporation in any other capacity and receiving compensation therefor.

<u>Section 12 — Contracts</u>

(a) No contract or other transaction between this
Corporation and any other Corporation and any other Corporation shall be voidable by the Corporation solely because of a director or directors'
interest in a transaction if: (i) the material facts of the transaction and the director or directors' interest was disclosed or known
to the Board of Directors or a committee of the Board of Directors and the Board or Directors or committee authorized or approved, or
ratified the transaction; (ii) the material facts of the transaction and the director or directors' interest were disclosed or known to
the shareholders entitled to vote and they authorized, approved, or ratified the transaction; or (iii) the transaction was fair to the
Corporation.

Such interested Director or Directors may be counted in determining the presence of a quorum at such meeting. However, such interested director or directors may not be counted in determining a vote by the Board of directors to ratify such contract or transaction in which such director or directors is/are interested.

<u>Section 13 — Committees</u>

The Board of Directors may, by resolution, authorize one or more committees and appoint members of the Board of Directors to serve on such committees with such powers and authority, to the extent permitted by law, as may be provided in such resolution. Sections 2, 3, 4, 6, and 7 of these Bylaws, governing authority of the Board of Directors, meetings, action without meetings, notice and quorum and voting requirements shall apply to committees and their members as well.

<u>Section 14 — Contracts</u>

The Board of Directors may authorize any Officer or Officers, agent or agents, to enter into any contract or execute and deliver any instrument in the mane of and on behalf of the Corporation, and such authority may be general or confined to specific instances.

<u>Section 15 — Loans</u>

No loans shall be contracted on behalf of the corporation and no evidences of indebtedness shall be issued in its name unless authorized by a resolution of the Board of Directors. Such authority may be general or confined to specific instances.

<u>Section 16 — Checks, Drafts, etc.</u> 

All checks, drafts or other orders for the payment of money, notes or other evidences of indebtedness issued in the name of the Corporation shall be signed by such Officer of Officers, agent or agents of the Corporation and in such manner as shall from time to time be determined by resolution of the Board of Directors.

<u>Section 17 — Deposits</u>

All funds of the corporation not otherwise employed shall be deposited from time to time to the credit of the Corporation in such banks, trust companies or other depositaries as the Board of Directors may select.

<u>ARTICLE IV — OFFICERS</u>

<u>Section 1 — Number, Qualifications, Election and Term of Office</u>

(a) The officers of the Corporation shall consist of a President, one or more Vice-Presidents (the number
thereof to be determined by the Board of Directors), a Secretary, a Treasurer, and such other officers, including a Chairperson of the
Board, as the Board from time to time may deem necessary, each of which is elected by the Board of Directors. Any Officer need not be
a Director or shareholder of the Corporation. Any two or more offices may be held by the same person.

(b) The officers of the Corporation shall be elected annually by the Board of Directors at the meeting of
the Board following each annual meeting of shareholders. If the election of Officers shall not be held at such meeting, such election
shall be held as soon thereafter as conveniently possible.

(c) Each officer shall hold office until the annual meeting of the Board of Directors next succeeding his/her
election, and until his/her successor shall have been duly elected and shall have been qualified or until his/her death, resignation or
removal.

<u>Section 2 — Resignation</u> 

Any officer may resign at any time by delivering written notice of such resignation to the Corporation. Such resignation shall become effective when delivered to the Corporation, unless such resignation specifies a later effective date. If such resignation is made effective at a later date and the Corporation accepts the future effective date, the Corporation's Board of Directors may fill the pending vacancy before the effective date if the Board of Directors provides that the successor does not take office until the effective date.

<u>Section 3 — Removal</u>

The Board of Directors may remove any officer at any time with or without cause.

<u>Section 4 — Vacancies</u> 

A vacancy in any office by reason of death, resignation, inability to act, disqualification, or otherwise, may at any time be filled for the unexpired portion of the term by the Board of Directors.

<u>Section 5 — Duties of Officers</u>

Each officer has the authority and shall perform the duties set forth in these Bylaws, and to the extent consistent with these Bylaws, the duties prescribed by the Board of Directors or by the direction of an officer or officers authorized by the Board of Directors to prescribe the duties of officers.

<u>Section 6 — President</u>

The President shall be the Principal Executive Officer of the corporation and, subject to the control of the Board of Directors, shall in general supervise and control all of the business and affairs of the Corporation. He/She shall, when present, preside at all meeting of the shareholders of the corporation and of the board of Directors. He/She may sign, with the Secretary or any other proper Officer of the Corporation thereunto authorized by the Board of Directors, certificates for shares of the Corporation and deeds, mortgages, bonds, contracts, or other instruments which the Board of Directors has authorized to be executed, except in cases where the signing and execution thereof shall be expressly delegated by the Board of Directors of by these Bylaws to some other Officer or agent of the Corporation, or shall be required by law to be otherwise signed or executed, and in general shall perform all duties incident to the office of President and such other duties as may be prescribed by the Board of Directors from time to time.

<u>Section 7 — Vice-Presidents</u>

In the absence of the President or in the event of his/her death, inability or refusal to act, the Vice-President or Vice-Presidents, in the order designated at the time of their election, or in the absence of any designation, in the order of their election, shall perform the duties of the President, and when so acting, shall have all the powers of and be subject to all the restrictions upon the President. Any Vice-President may sign, with the Secretary of an Assistant Secretary, certificates for shares of the Corporation, and shall perform such other duties as from time to time may be assigned to him/her by the President or by the Board of Directors.

<u>Section — 8 Secretary</u>

The Secretary shall:

(a) keep the minutes of the proceedings of the shareholders and of the Board of Directors in one or more books
provided for that purpose;

(b) see that all notices are duly given in accordance with the provisions of these Bylaws or as required by
law;

(c) be custodian of the corporate records and of the seal of the Corporation and see that the seal of the
Corporation is affixed to all documents the execution of which on behalf of the corporation under its seal is duly authorized;

(d) keep a register of the post office address of each shareholders of the corporation which shall be furnished
to the Secretary by such shareholder.

(e) Sign with the President, or a Vice-President, certificates for shares of the Corporation, the issuance
of which shall have been authorized by resolution of the Board of Directors;

(f) Have general charge of the stock transfer books of the Corporation; and

(g) In general perform all duties incident to the office of the Secretary and such other duties as from time
to time may be assigned to him/her by the President or by the Board of Directors.

<u>Section 9 — Treasurer</u>

The Treasurer shall:

(a) have charge and custody of and be responsible for all funds and securities of the Corporation;

(b) receive and give receipts for moneys due and payable to the Corporation from any source whatsoever, and
deposit all such moneys in the name of the Corporation in such banks, trust companies or ther depositories as shall be authorized by the
Board of Directors; and

(c) in general perform all the duties incident to the office of Treasurer and such other duties as from time
to time may be assigned by the President or by the Board of Directors. If required by the Board of Directors, the Treasurer shall give
a bond for the faithful discharge of his/her duties in such sum and with such surety or sureties as the Board of Directors shall determine.

<u>Section 10 — Assistant Secretaries and Assistant Treasurers</u>

The Assistant Secretaries, when authorized by the Board of Directors, may sign with the President or a Vice-President certificates for shares of the Corporation the issuance of which shall have been authorized by a resolution of the Board of Directors. The Assistant Treasurers shall respectively, if required by the board of Directors, give bonds for the faithful discharge of their duties in such sums and such sureties as the Board of Directors shall determine. The Assistant Secretaries and Assistant Treasurers, in general shall perform such duties as shall be assigned to them by the Secretary or Treasurer, respectively, or by the President or the Board of Directors.

<u>Section 11 — Salaries</u> 

The Salaries of the Officers shall be fixed from time to time by the Board of Directors.

<u>Section 12 — Contracts</u> 

The Board of Directors may authorized any Officer of Officers, agent or agents, to enter into any contract or execute and deliver any instrument in the name of and on behalf of the Corporation, and such authority may be general or confined to specific instances.

<u>Section 13 — Loans</u>

No loans shall be contracted on behalf of the Corporation and no evidence of indebtedness shall be issued in its name unless authorized by the Board of Directors

<u>Section 14 — Checks, Drafts, etc.</u> 

All checks, drafts or other orders for the payment of money, notes or other evidences of indebtedness issued in the name of the Corporation shall be signed by such Officer or Officers, agent or agents of the Corporation and in such manner as shall from time to time be determined by resolution of the Board of Directors.

<u>Section 15 — Shares of Other Corporations</u>

The President, any Vice-President, or such other person as the Board of Directors may authorize may execute any proxy, consent, or right to vote possessed by the Corporation in shares of stock owned by the Corporation subject to the direction of the Board of Directors.

<u>ARTICLE V — SHARES OF STOCK</u>

<br> <u>Section 1 — Certificate of Stock</u> 

(a) The Board
of Directors may authorize the Corporation to issue some or all of its shares with or without certificates. The certificates representing
shares of the Corporation shall be in such form as shall be adopted by the Board of Directors, and shall be adopted by the Board of Directors,
and shall be numbered and registered in the order issued. They shall bear the holder's name and the number of shares, and shall be signed
by (i) the Chairman of the Board of the President or a Vice-President, and (ii) the Secretary of any Assistant Secretary, and may bear
the corporate seal or a facsimile thereof. The signatures of such Officers upon a certificate may be facsimiles if the certificate is
manually signed on behalf of a transfer agent or a registrar, other than the Corporation itself or one of its employees and such certificates
shall remain valid if the person who signed such certificate on longer holds office when the certificate is issued. The name and address
of the person to whom the shares represented thereby are issued, with the number of shares and date of issue, shall be entered on the
stock transfer books of the Corporation. All certificates surrendered to the Corporation for transfer shall be canceled and no new certificate
shall be issued until the former certificate for a like number of shares shall have been surrendered and canceled, except that in case
of a lost, destroyed or mutilated certificate, a new one may be issued therefor upon such terms and indemnity to the Corporation as the
Board of Directors may prescribe.

(b) No certificate, if any, rep[resenting shares shall be issued until the full amount of consideration therefor
has been paid, except as otherwise permitted by law.

(c) The Board of Directors may authorize the issuance of certificates for fractions of a share, either represented
by a certificate or uncertificated, which shall entitle the holder to exercise voting rights, receive dividends and participate in any
assets of the Corporation in the event of liquidation, in proportion to the fractional holdings; or it may authorize the payment in cash
of the fair value of fractions of a share as of the time when those entitled to receive such fractions are determined; or it may authorize
the issuance, subject to such conditions as may be permitted by law, of scrip in registered or bearer form over the signature of an officer
or agent of the Corporation, exchangeable as therein provided for full shares, but such scrip shall not entitle the holder to any rights
of a shareholder, except as therin provided for full shares, but such scrip shall not entitle the holder to any rights of a shareholder,
except as therein provided.

(d) The Board of Directors, from time to time, may authorize the issuance of some or all of the shares of
the Corporation of any or all of its classes or series without certificates. (Such shares shall be known as: uncertificated shares").
Such authorization by the Board of Directors does not effect shares of the Corporation already represented certificates until they are
surrendered to the Corporation shall send the shareholder a written statement of the information required by law and these ByLaws on certificates
of shares of the Corporation.

<u>Section 2 — Lost or Destroyed Certificates</u>

The Board of Directors may direct a new certificate or certificates to be issued in place of any certificate or certificates theretofore issued by the Corporation alleged to have been lost, stolen or destroyed, upon the making of an affidavit of that fact by the owner claiming the certificate or shares to be lost, stolen or destroyed. When authorizing such issue of a new certificate or certificates, the Board of Directors may, at its discretion and as a condition precedent to the issuance thereof, require the owner of such lost, stolen or destroyed certificate or certificates, or his/her legal representative, to advertise the same in such manner as it shall require and/or to give the Corporation a bond in such sum as it may direct as indemnity against any claim that may be made against the Corporation with respect to the certificate alleged to have been lost, stolen or destroyed.

<u>Section 3 — Transfers of Shares</u>

(a) Upon surrender to the Corporation or the transfer agent of the Corporation a certificate, when such shares are cerificated shares, for
shares duly endorsed or accompanied by proper evidence of succession, assignment or authority to transfer, it shall be the duty of the
Corporation to issue a new certificate to the person entitled thereto and to cancel the old certificate and record the transaction upon
its books.

<u>Section 4 — Record Date</u>

In lieu of closing the share records of the Corporation, the Board of Directors may fix, in advance, a date not exceeding seventy days, nor less than ten days, as the record date or the determination of shareholders entitled to receive notice of, or to vote at, any meeting of shareholders, or to consent to any proposal without a meeting, or for the purpose of determining shareholders entitled to receive payment of any dividends, or allotment of any rights, or for the purpose of any other action. If no record date is fixed, the record date for the determination of shareholders entitled to notice of or to vote at a meeting of shareholders shall be at the close of business on the day next preceding the day on which notice is given, or, if no notice is given, the day on which the meeting is held; the record date for determining shareholders for any other purpose shall be at the close of business on the day on which the resolution of the directors relating thereto is adopted. A determination of shareholders of record entitled to notice of or to vote at a shareholders' meeting is effective for any adjournment thereof, unless the directors fix a new record date for the adjourned meeting, which it must do if the meeting is adjourned to a date more than 120 days after the date fixed for the original meeting. If a court orders a meeting adjourned to a date more than 120 days after the date fixed for the original meeting, it may provide that the original record date continues in effect or it may fix a new record date. The record date for determining shareholders entitled to demand a special meeting or to act without a meeting is the date the first shareholder signs the demand.

<u>Section 5 — Shareholders' List</u>

The Corporation shall prepare an alphabetical list of the names of all shareholders who are entitled to notice of a shareholders' meeting, arranged by voting group, (and within each voting group by class or series of shares), and show the address of and number of shares held by each shareholder. Such shareholders' list must be available for inspection by any shareholder beginning two business days after notice of the meeting is given for which the list was prepared and continuing through the meeting, and any adjournment thereof at the Corporation's principal office or a place identified as to where the meeting will be held. A shareholder, his agent or attorney may, on written demand expense, during the period it is available for inspection.

<u>ARTICLE VI — DIVIDENDS</u>

Subject to applicable law, dividends may be declared and paid out of any funds available therefor, as often, in such amounts, and at such time or times as the Board of Directors may determine so long as the Corporation is able to pay its debts as they become due in the usual course of business and the Corporation's total assets exceed its liabilities once such dividend has been declared and paid.

<u>ARTICLE VII — FISCAL YEAR</u>

The fiscal year of the Corporation shall be fixed, and altered if necessary, by the Board of Directors.

<u>ARTICLE VIII — CORPORATE SEAL</u>

The corporate seal, if any, shall be in such form as shall be approved from time to time by the Board of Directors.

<u>ARTICLE IX — WAIVER OF NOTICE</u>

Whenever any notice is required to be given to any shareholder or Director of the Corporation under these Bylaws or under the law, a waiver thereof in writing signed by the person or persons entitled to such notice, whether before or after the time stated therein, shall be deemed equivalent to the giving of such notice.

<u>ARTICLE X — AMENDMENTS</u>

<u>Section 1 — By Shareholders</u>

All Bylaws of the Corporation shall be subject to amend or repeal, and new Bylaws may be made, by a majority vote of the shareholders at the time entitled to vote in the election of Directors even though these Bylaws may also be amended or repealed by the Board of directors.

<u>Section 2 — By Directors</u>

The Board of directors shall have power to make, adopt, alter, amend and repeal, from time to time, Bylaws of the Corporation; provided, however, that the shareholders entitled to vote with respect thereto as in the Article IX above-provided may alter, amend or repeal Bylaws made by the Board of Directors, except that the Board of Directors shall have no power to change the quorum for meetings of shareholders or of the Board of Directors,

or to change any provisions of the Bylaws with respect to the removal of directors or the filling of vacancies in the Board resulting from the removal by the shareholders or to amend or repeal a particular Bylaw which the shareholders stated, when passing such Bylaw, was not subject to amendment or repeal by the Board of directors. If any Bylaw regulating an impending election of directors is adopted, amended or repealed by the Board of Directors, there shall be set forth in the notice of the next meeting of shareholders for the election of directors, the Bylaw so adopted, amended or repealed, together with a concise statement of the changes made.

CERTIFIED TO BE THE BYLAWS OF:

Chelsea Tech, Inc.

![](image_01.jpg)

## Ex1A-4

**Exhibit 4.1**

**CHELSEA TECH, INC.**

**SUBSCRIPTION AGREEMENT FOR INVESTORS**

Name of Investor: _______________________

**Re: Chelsea Tech, Inc., a Wyoming company, Common Shares (the "Shares")**

People:

**1. Subscription**. The undersigned hereby tenders this subscription and applies to purchase the number of Shares in **Chelsea Tech, Inc.**, a Wyoming corporation (the "Company") indicated below, pursuant to the terms of this Subscription Agreement. The purchase price of each Share is FIFTY CENTS ($.50) payable in cash in full upon subscription. The undersigned further sets forth statements upon which you may rely to determine the suitability of the undersigned to purchase the Shares. The undersigned understands that the Shares are being offered pursuant to the Offering Circular filed with the Securities and Exchange Commission and its exhibits (the "Offering Circular"). In connection with this subscription, the undersigned represents and warrants that the personal, business and financial information provided to the Company along with this Subscription Agreement, is complete and accurate, and presents a true statement of the undersigned's financial condition.

**2. Representations and Understandings**. The undersigned hereby makes the following representations, warranties and agreements and confirms the following understandings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The undersigned has received a copy of the Offering Circular, has reviewed it carefully, and has had an opportunity to question representatives of the Company and obtain such additional information concerning the Company as the undersigned requested. All questions of the undersigned have been satisfactorily answered prior to making this investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The undersigned has sufficient experience in financial and business matters to be capable of utilizing such information to evaluate the merits and risks of the undersigned's investment, and to make an informed decision relating thereto; or the undersigned has utilized the services of his, her or its financial advisor or other investment representative and together they have sufficient experience in financial and business matters that they are capable of utilizing such information to evaluate the merits and risks of the undersigned's investment, and to make an informed decision relating thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. The undersigned has evaluated the risks of this investment in the Company, including those risks particularly described in the Offering Circular, and has determined that the investment is suitable for him, her or it. The undersigned has adequate financial resources for an investment of this character, and at this time could bear a complete loss of his investment. The undersigned understands that any projections or other forward-looking statements that were made in the Offering Circular are mere estimates and may not reflect the actual results of the Company's operations. The undersigned understands that the Use of Proceeds made in the Offering Circular are estimates, are not binding, and are subject to the Company's discretion, and may not reflect the actual use of proceeds by the Company of the funds they receive from this offering and from your investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. The undersigned understands that the Shares are not being registered under the Securities Act of 1933, as amended (the "1933 Act") on the ground that the issuance thereof is exempt under Regulation A of Section 3(b) of the 1933 Act, and that reliance on such exemption is predicated in part on the truth and accuracy of the undersigned's representations and warranties, and those of the other purchasers of Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. The undersigned understands that the Shares are being offered pursuant to a broker/dealer registration or an exemption from such registration in the state of ______________. Therefore, undersigned is a resident of the state of ______________ or has otherwise undergone the purchase of the Shares in the state of ________________.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. The amount of this investment by the undersigned does not exceed 10% of the greater of the undersigned's net worth, not including the value of his/her primary residence, or his/her annual income in the prior full calendar year, as calculated in accordance with Rule 501 of Regulation D promulgated under Section 4(a)(2) of the Securities Act of 1933, as amended, unless the undersigned is an "accredited investor," as that term is defined in Rule 501 of Regulation D promulgated under Section 4(a)(2) of the Securities Act of 1933, as amended, or is the beneficiary of a fiduciary account, or, if the fiduciary of the account or other party is the donor of funds used by the fiduciary account to make this investment, then such donor, who meets the requirements of net worth, annual income or criteria for being an "accredited investor."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. The undersigned has no need for any liquidity in his investment and is able to bear the economic risk of his investment for an indefinite period of time. The undersigned has been advised and is aware that: (a) there is no public market for the Shares a public market for the Shares may not develop; (b) it may not be possible to liquidate the investment readily; and (c) the Shares have not been registered under the Securities Act of 1933 and applicable state law and an exemption from registration for resale may not be available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. All contacts and contracts between the undersigned and the Company regarding the offer and sale to him of Shares have been made within the state indicated below his signature on the signature page of this Subscription Agreement and the undersigned is a resident of such state.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. The undersigned has relied solely upon the Offering Circular and independent investigations made by him or her or his or her representatives and advisors with respect to the Shares subscribed for herein, and no oral or written representations beyond the Offering Circular have been made to the undersigned or relied upon by the undersigned by the Company, its representatives or assigns, or any other person or entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. The undersigned agrees not to transfer or assign this subscription or any interest therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. The undersigned hereby acknowledges and agrees that, except as may be specifically provided herein, the undersigned is not entitled to withdraw, terminate or revoke this subscription.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l. If the undersigned is a partnership, corporation, limited liability company or trust, it has been duly formed, is validly existing, has full power and authority to make this investment, and has not been formed for the specific purpose of investing in the Shares. This Subscription Agreement and all other documents executed in connection with this subscription for Shares are valid, binding and enforceable agreements of the undersigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m. The undersigned meets any additional suitability standards and/or financial requirements that may be required in the jurisdiction in which he or she resides, or is purchasing in a fiduciary capacity for a person or account meeting such suitability standards and/or financial requirements, and is not a minor.

3. **Reserved**.

4. **Issuer-Directed Offering; No Underwriter**. The undersigned understands that the offering is being conducted by the Company directly (issuer-directed) and the Company has not engaged a selling agent such as an underwriter or placement agent.

5. **Foreign Investors**. If the undersigned is not a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended), the undersigned hereby represents that he or she has satisfied himself or herself as to the full observance of the laws of its jurisdiction in connection with any invitation to subscribe for the Shares or any use of this Subscription Agreement, including (i) the legal requirements within its jurisdiction for the purchase of the Shares, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental or other consents that may need to be obtained, and (iv) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale, or transfer of the Shares. The undersigned's subscription and payment for and continued beneficial ownership of the Shares will not violate any applicable securities or other laws of the undersigned's jurisdiction.

6. **Valuation**. The undersigned acknowledges that the price of the Shares was set by the Company on the basis of the Company's internal valuation and no warranties are made as to value. The undersigned further acknowledges that future offerings of securities by the Company may be made at lower valuations, with the result that the undersigned's investment will bear a lower valuation.

7. **Reserved**.

8. **Taxpayer Identification Number/Backup Withholding Certification**. Unless a subscriber indicates to the contrary on the Subscription Agreement, he, she or it will certify that his taxpayer identification number is correct and, if not a corporation, IRA, Keogh, or Qualified Trust (as to which there would be no withholding), he is not subject to backup withholding on interest or dividends. If the subscriber does not provide a taxpayer identification number certified to be correct or does not make the certification that the subscriber is not subject to backup withholding, then the subscriber may be subject to twenty-eight percent (28%) withholding on interest or dividends paid to the holder of the Shares.

9. **Governing Law**. This Subscription Agreement will be governed by and construed in accordance with the laws of the Wyoming and the laws of the United States. Unless the Company consents in writing to the selection of an alternative forum, the federal district courts of the United States of America in the state of Wyoming shall be the exclusive forum for the resolution of any complaint asserting a cause of action arising from this Agreement, arising from the Securities Act of 1933 or arising from the Securities Exchange Act of 1934. Any person or entity purchasing or otherwise acquiring any interest in any security of the Corporation shall be deemed to have notice of and consented to this provision.

10. **Acknowledgement of Risks Factors**. The undersigned has carefully reviewed and thoroughly understands the risks associated with an investment in the Shares as described in the Offering Circular. The undersigned acknowledges that this investment entails significant risks.

The undersigned has (have) executed this Subscription Agreement on this _____ day of ___________, 2025, at ______________.

**SUBSCRIBER**

_____________________________________

Signature

_____________________________________

(Print Name of Subscriber)

_____________________________________

(Street Address)

_____________________________________

(City, State and Zip Code)

_____________________________________

(Social Security or Tax Identification Number)

Number of Shares: ___________________________

Dollar Amount of Shares ($______ per Share) $_______________________

_______________________________________________________

**SUBSCRIPTION ACCEPTED:**

_____________________________________ DATE: _____________________

Chelsea Tech, Inc.

By: Andy Chen

Chief Executive Officer

## Ex1A-6

**Exhibit 6.1**

**<u>SHARE EXCHANGE AGREEMENT</u>**

This Share Exchange Agreement (this "<u>Agreement</u>"), dated as of June 27, 2024, is by and among Chelsea Tech, Inc., a Wyoming corporation ("<u>Chelsea</u>"), CanvasLand Limited, a Hong Kong corporation ("<u>CanvasLand</u>"), and each of the shareholders of CanvasLand (the "Shareholders"). Each of the parties to this Agreement is individually referred to herein as a "<u>Party</u>" and collectively as the "<u>Parties</u>."

**<u>BACKGROUND</u>**

CanvasLand has 1,000 shares of common stock, par value HK$1.00 per share (the "<u>CanvasLand Shares</u>") issued and outstanding, all of which are held by the Shareholders. The Shareholders have agreed to transfer CanvasLand Shares to Chelsea in exchange for an aggregate of 319,999,000 newly issued shares of common stock, par value $0.001 per share, of Chelsea (the "<u>Chelsea Shares</u>").

The exchange of CanvasLand Shares for Chelsea Shares is intended to constitute a reorganization within the meaning of Section 368(a)(1)(B) of the Internal Revenue Code of 1986, as amended (the "<u>Code</u>"), or such other tax-free reorganization or restructuring provisions as may be available under the Code.

The Board of Directors of each of Chelsea and CanvasLand have determined that it is desirable to effect this plan of reorganization and share exchange.

**<u>AGREEMENT</u>**

NOW THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth herein, and intending to be legally bound hereby, the Parties agree as follows:

ARTICLE I

<u>Exchange of Shares</u> 

SECTION 1.01. <u>Exchange by the Shareholders</u>. At the Closing (as defined in Section 1.02), the Shareholders shall sell, transfer, convey, assign and deliver to Chelsea all of CanvasLand Shares free and clear of all Liens in exchange for issuance of Chelsea Shares to the Shareholders on a pro rata basis, in the amounts and to the individual Shareholders, as set forth in <u>Exhibit A</u> hereto.

SECTION 1.02. <u>Closing</u>. The closing (the "<u>Closing</u>") of the transactions contemplated by this Agreement (the "<u>Transactions</u>") shall take place at the offices of Randall J. Lanham, Esq., 28562 Oso Parkway, Unit D, Rancho Santa Margarita, CA 92688, commencing upon the satisfaction or waiver of all conditions and obligations of the Parties to consummate the Transactions contemplated hereby (other than conditions and obligations with respect to the actions that the respective Parties will take at Closing) or such other date and time as the Parties may mutually determine (the "<u>Closing Date</u>").

ARTICLE II

<u>Representations and Warranties of the Shareholders</u>

<br> The Shareholders hereby represent and warrant to Chelsea, as follows:

SECTION 2.01. <u>Good Title</u>. The Shareholders are the record and beneficial owners, and have good title to CanvasLand Shares, with the right and authority to sell and deliver CanvasLand Shares to Chelsea as provided herein. Upon delivery of any certificate or certificates duly endorsed for transfer to Chelsea, representing the same as herein contemplated and/or upon registering of Chelsea as the new owner of CanvasLand Shares in the share register of CanvasLand, Chelsea will receive good title to CanvasLand Shares, free and clear of all liens, hypothecs security interests, pledges, equities and claims of any kind, voting trusts, trust agreements, shareholder agreements and other encumbrances (collectively, "<u>Liens</u>").

SECTION 2.02. <u>Power and Authority</u>. All acts required to be taken by the Shareholders to enter into this Agreement and to carry out the Transactions have been properly taken. This Agreement constitutes a legal, valid and binding obligation of the Shareholders, enforceable against the Shareholders in accordance with the terms hereof.

SECTION 2.03. <u>No Conflicts</u>. The execution and delivery of this Agreement by the Shareholders and the performance by the Shareholders of their obligations hereunder in accordance with the terms hereof: (i) will not require the consent of any third party or any federal, state, provincial, local or foreign government or any court of competent jurisdiction, administrative agency or commission or other governmental authority or instrumentality, domestic or foreign ("<u>Governmental Entity</u>") under any statutes, laws, ordinances, rules, regulations, orders, writs, injunctions, judgments, or decrees (collectively, "<u>Laws</u>"); (ii) will not violate any Laws applicable to the Shareholders; and (iii) will not violate or breach any contractual obligation to which the Shareholders are a party.

SECTION 2.04. <u>No Finder's Fee</u>. The Shareholders have not created any obligation for any finder's, investment banker's or broker's fee in connection with the Transactions that CanvasLand or Chelsea will be responsible for.

SECTION 2.05. <u>Purchase Entirely for Own Account.</u> Chelsea Shares proposed to be acquired by the Shareholders hereunder will be acquired for investment for their own account, and not with a view to the resale or distribution of any part thereof, and the Shareholders have no present intention of selling or otherwise distributing Chelsea Shares, except in compliance with applicable securities laws.

SECTION 2.06. <u>Available Information</u>. The Shareholders have such knowledge and experience in financial and business matters that they are capable of evaluating the merits and risks of an investment in Chelsea.

SECTION 2.07. <u>Non-Registration</u>. The Shareholders understand that Chelsea Shares have not been registered under the Securities Act of 1933, as amended (the "<u>Securities Act</u>") and, if issued in accordance with the provisions of this Agreement, will be issued by reason of a specific exemption from the registration provisions of the Securities Act that depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the Shareholders' representations as expressed herein. The non-registration shall have no prejudice with respect to any rights, interests, benefits and entitlements attached to Chelsea Shares in accordance with Chelsea charter documents or the laws of its jurisdiction of incorporation.

SECTION 2.08. <u>Restricted Securities</u>. The Shareholders understand that Chelsea Shares are characterized as "restricted securities" under the Securities Act inasmuch as this Agreement contemplates that, if acquired by the Shareholders pursuant hereto, Chelsea Shares would be acquired in a transaction not involving a public offering. The Shareholders further acknowledge that if Chelsea Shares are issued to the Shareholders in accordance with the provisions of this Agreement, Chelsea Shares may not be resold without registration under the Securities Act or the existence of an exemption therefrom. The Shareholders represent that they are familiar with Rule 144 promulgated under the Securities Act, as presently in effect, and understands the resale limitations imposed thereby and by the Securities Act.

SECTION 2.09. <u>Legends</u>. It is understood that Chelsea Shares will bear the following legend or another legend that is similar to the following:

THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF

WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT SECURED BY SUCH SECURITIES.

and any legend required by the "blue sky" laws of any state to the extent such laws are applicable to the securities represented by the certificate so legend.

SECTION 2.10. <u>Accredited Investors</u>. The Shareholders are "accredited investors" within the meaning of Rule 501 under the Securities Act.

ARTICLE III

<u>Representations and Warranties of CanvasLand</u>

SECTION 3.01. <u>Organization, Standing and Power</u>. The CanvasLand is duly organized, validly existing and in good standing under the laws of Hong Kong, China and has the corporate power and authority and possesses all governmental franchises, licenses, permits, authorizations and approvals necessary to enable it to own, lease or otherwise hold its properties and assets and to conduct its businesses as presently conducted, other than such franchises, licenses, permits, authorizations and approvals the lack of which, individually or in the aggregate, has not had and would not reasonably be expected to have a material adverse effect on CanvasLand, a material adverse effect on the ability of CanvasLand to perform its obligations under this Agreement or on the ability of CanvasLand to consummate the Transactions (a "<u>CanvasLand Material Adverse Effect</u>"). The CanvasLand is duly qualified to do business in each jurisdiction where the nature of its business or its ownership or leasing of its properties make such qualification necessary except where the failure to so qualify would not reasonably be expected to have a CanvasLand Material Adverse Effect. The CanvasLand has delivered to Chelsea true and complete copies of the Memorandum of Association and the Articles of Association of CanvasLand and such other constituent instruments of CanvasLand as may exist, each as amended to the date of this Agreement (as so amended, the "<u>CanvasLand Constituent Instruments</u>").

SECTION 3.02. <u>CanvasLand Subsidiaries</u>. The CanvasLand has no subsidiaries.

SECTION 3.03. <u>Capital Structure</u>. The CanvasLand has 1,000 shares of common stock issued and outstanding. Except as set forth above, no shares of capital stock or other voting securities of CanvasLand are issued, reserved for issuance or outstanding. All outstanding shares of the capital stock of CanvasLand are duly authorized, validly issued, fully paid and nonassessable and not subject to or issued in violation of any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of the Wyoming Business Corporation Act or other applicable corporate laws of Hong Kong, China, CanvasLand Constituent Instruments or any Contract (as defined in Section 3.05) to which CanvasLand is a party or otherwise bound. Except as set forth in this Section 3.03, there are not any bonds, debentures, notes or other indebtedness of CanvasLand having the right to vote (or convertible into, or exchangeable for, securities having the right to vote) on any matters on which holders of CanvasLand Shares may vote ("<u>Voting CanvasLand Debt</u>"). Except as set forth above, as of the date of this Agreement, there are not any options, warrants, rights, convertible or exchangeable securities, "phantom" stock rights, stock appreciation rights, stock-based performance units, commitments, Contracts, arrangements or undertakings of any kind to which CanvasLand is a party or by which any of them is bound (a) obligating CanvasLand to issue, deliver or sell, or cause to be issued, delivered or sold, additional shares of capital stock or other equity interests in, or any security convertible or exercisable for or exchangeable into any capital stock of or other equity interest in, CanvasLand or any Voting CanvasLand Debt, (b) obligating CanvasLand to issue, grant, extend or enter into any such option, warrant, call, right, security, commitment, Contract, arrangement or undertaking or (c) that give any person the right to receive any economic benefit or right similar to or derived from the economic benefits and rights occurring to holders of the capital stock of CanvasLand.

SECTION 3.04. <u>Authority; Execution and Delivery; Enforceability</u>. The CanvasLand has all requisite corporate power and authority to execute and deliver this Agreement and to consummate the Transactions. The execution and delivery by CanvasLand of this Agreement and the consummation by CanvasLand of the Transactions have been duly authorized and approved by the Board of Directors and the Shareholders of CanvasLand and no other corporate proceedings on the part of CanvasLand are necessary to authorize this Agreement and the Transactions.

When executed and delivered, this Agreement will be enforceable against CanvasLand in accordance with its terms, subject to bankruptcy, insolvency and similar laws of general applicability as to which CanvasLand is subject.

SECTION 3.05. <u>No Conflicts; Consents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The execution and delivery by CanvasLand of this Agreement does not, and the consummation of the Transactions and compliance with the terms hereof and thereof will not, conflict with, or result in any violation of or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination, cancellation or acceleration of any obligation or to loss of a material benefit under, or result in the creation of any Lien upon any of the properties or assets of CanvasLand under any provision of (a) CanvasLand Constituent Instruments, (b) any material contract, lease, license, indenture, note, bond, agreement, permit, concession, franchise or other instrument (a "<u>Contract</u>") to which CanvasLand is a party or by which any of its properties or assets is bound or (c) subject to the filings and other matters referred to in Section 3.05(b), any material judgment, order or decree ("<u>Judgment</u>") or material Law applicable to CanvasLand or its properties or assets, other than, in the case of clauses (b) and (c) above, any such items that, individually or in the aggregate, have not had and would not reasonably be expected to have a CanvasLand Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No material consent, approval, license, permit, order or authorization ("<u>Consent</u>") of, or registration, declaration or filing with, or permit from, any Governmental Entity is required to be obtained or made by or with respect to CanvasLand in connection with the execution, delivery and performance of this Agreement or the consummation of the Transactions.

SECTION 3.06. <u>Taxes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The CanvasLand has timely filed, or have caused to be timely filed on its behalf, all Tax Returns required to be filed by it, and all such Tax Returns are true, complete and accurate, except to the extent any failure to file or any inaccuracies in any filed Tax Returns, individually or in the aggregate, have not had and would not reasonably be expected to have a CanvasLand Material Adverse Effect. All Taxes shown to be due on such Tax Returns, or otherwise owed, have been timely paid, except to the extent that any failure to pay, individually or in the aggregate, has not had and would not reasonably be expected to have a CanvasLand Material Adverse Effect. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of CanvasLand know of no basis for any such claim. No tax audit is in process or threatened and CanvasLand has not received a notice of assessment from any tax authority indicating a tax assessment or recalculation of any taxes in any tax return previously filed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For purposes of this Agreement:

"<u>Taxes</u>" includes all forms of taxation, whenever created or imposed, and whether of the United States or elsewhere, and whether imposed by a local, municipal, governmental, state, provincial, foreign, federal or other Governmental Entity, or in connection with any agreement with respect to Taxes, including all interest, penalties and additions imposed with respect to such amounts.

"<u>Tax Return</u>" means all federal, state, provincial, local, provincial and foreign Tax returns, declarations, statements, reports, schedules, forms and information returns and any amended Tax return relating to Taxes.

SECTION 3.07. <u>Benefit Plans</u>. The CanvasLand does not have or maintain any collective bargaining agreement or any bonus, pension, profit sharing, deferred compensation, incentive compensation, share ownership, share purchase, share option, phantom stock, retirement, vacation, severance, disability, death benefit, hospitalization, medical or other plan, arrangement or understanding (whether or not legally binding) providing benefits to any current or former employee, officer or director of CanvasLand (collectively, "<u>CanvasLand Benefit Plans</u>"). As of the date of this Agreement, there are not any severance or termination agreements or arrangements between CanvasLand and any current or former employee, officer or director of CanvasLand, nor does CanvasLand have any general severance plan or policy.

SECTION 3.08. <u>Litigation</u>. There is no action, suit, inquiry, notice of violation, proceeding (including any partial proceeding such as a deposition) or investigation pending or threatened in writing against or affecting CanvasLand or any of its properties before or by any court, arbitrator, governmental or administrative agency, regulatory authority (federal, state, provincial, county, local or foreign), stock market, stock exchange or trading facility ("<u>Action</u>") that (i) adversely affects or challenges the legality, validity or enforceability of any of this Agreement or CanvasLand Shares or (ii) could, if there were an unfavorable decision, individually or in the aggregate, have or reasonably be expected to result in a CanvasLand Material Adverse Effect. Neither CanvasLand, nor any director or officer thereof (in his or her capacity as such), is or has been the subject of any Action involving a claim or violation of or liability under federal, state or provincial securities laws or a claim of breach of fiduciary duty.

SECTION 3.09. <u>Compliance with Applicable Laws</u>. The CanvasLand is in compliance with all applicable Laws, including those relating to occupational health, labor and safety and the environment, except for instances of noncompliance that, individually and in the aggregate, have not had and would not reasonably be expected to have a CanvasLand Material Adverse Effect. The CanvasLand has not received any written communication during the past two years from a Governmental Entity that alleges that CanvasLand is not in compliance in any material respect with any applicable Law. This Section 3.09 does not relate to matters with respect to Taxes, which are the subject of Section 3.06.

SECTION 3.10. <u>Brokers; Schedule of Fees and Expenses</u>. Except for those brokers as to which CanvasLand and Chelsea shall be solely responsible, no broker, investment banker, financial advisor or other person is entitled to any broker's, finder's, financial advisor's or other similar fee or commission in connection with the Transactions based upon arrangements made by or on behalf of CanvasLand.

SECTION 3.11. <u>Contracts</u>. CanvasLand is not in violation of or in default under (nor does there exist any condition which upon the passage of time or the giving of notice would cause such a violation of or default under) any Contract to which it is a party or by which it or any of its properties or assets is bound, except for violations or defaults that would not, individually or in the aggregate, reasonably be expected to result in a CanvasLand Material Adverse Effect.

SECTION 3.12. <u>Title to Properties</u>. CanvasLand has sufficient title to, or valid leasehold interests in, all of its properties and assets used in the conduct of its businesses. All such assets and properties, other than assets and properties in which CanvasLand has leasehold interests, are free and clear of all Liens except for Liens that, in the aggregate, do not and will not materially interfere with the ability of CanvasLand to conduct business as currently conducted.

SECTION 3.13. <u>Intellectual Property</u>. The CanvasLand owns or is validly licensed or otherwise has the right to use, all patents, patent rights, trademarks, trademark rights, trade names, trade name rights, service marks, service mark rights, copyrights and other proprietary intellectual property rights and computer programs (collectively, "<u>Intellectual Property Rights</u>") that are material to the conduct of the business of CanvasLand taken as a whole. There are no claims pending or, to the knowledge of CanvasLand, threatened that CanvasLand is infringing or otherwise adversely affecting the rights of any person with regard to any Intellectual Property Right. To the knowledge of CanvasLand, no person is infringing the rights of CanvasLand with respect to any Intellectual Property Right.

SECTION 3.14. <u>Labor Matters</u>. There are no collective bargaining or other labor union agreements to which CanvasLand is a party or by which it is bound. No material labor dispute exists or, to the knowledge of CanvasLand, is imminent with respect to any of the employees of CanvasLand.

SECTION 3.15. <u>Solvency</u>. Based on the financial condition of CanvasLand as of the Closing Date (and assuming that the Closing shall have occurred), (a) CanvasLand's fair saleable value of its assets exceeds the amount that will be required to be paid on or in respect of CanvasLand's existing debts and other liabilities (including known contingent liabilities) as they mature, (b) CanvasLand's assets do not constitute unreasonably small capital to carry on its business for the current fiscal year as now conducted and as proposed to be conducted including its capital needs taking into account the particular capital requirements of the business conducted by CanvasLand, and projected capital requirements and capital availability thereof, and (c) the current cash flow of CanvasLand, together with the proceeds CanvasLand would receive, were it to liquidate all of its assets, after taking into account all anticipated uses of the cash, would be sufficient to pay all amounts on or in respect of its debt when such amounts are required to be paid. The CanvasLand does not intend to incur debts beyond its ability to pay such debts as they mature (taking into account the timing and amounts of cash to be payable on or in respect of its debt). The CanvasLand is not insolvent or bankrupt and it has not filed for protection under applicable law. Moreover, there has been no petition in bankruptcy filed by CanvasLand or against CanvasLand.

SECTION 3.16. <u>Application of Takeover Protections</u>. The CanvasLand has taken all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar anti-takeover provision under CanvasLand's charter documents or the laws of its jurisdiction of formation that is or could become applicable to the Shareholders as a result of the Shareholders and CanvasLand fulfilling their obligations or exercising their rights under this Agreement, including, without limitation, the Shareholders' exchange of CanvasLand Shares for Chelsea Shares.

SECTION 3.17. <u>No Additional Agreements</u>. The CanvasLand does not have any agreement or understanding with the Shareholders with respect to the transactions contemplated by this Agreement other than as specified in this Agreement.

SECTION 3.18. <u>Investment CanvasLand</u>. The CanvasLand currently is not, and Chelsea immediately following the Closing will not have become, an "investment company" within the meaning of the Investment Company Act of 1940, as amended.

SECTION 3.19. <u>Foreign Corrupt Practices</u>. Neither CanvasLand nor any CanvasLand Subsidiary, nor, to CanvasLand's knowledge, any director, officer, agent, employee or other person acting on behalf of CanvasLand or any CanvasLand Subsidiary has, in the course of its actions for, or on behalf of, CanvasLand (a) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity; (b) made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds; (c) violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended; or (d) made any unlawful bribe, rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic government official or employee.

ARTICLE IV

<u>Representations and Warranties of Chelsea</u>

SECTION 4.01. <u>Organization, Standing and Power</u>. Chelsea is duly organized, validly existing and in good standing under the laws of the State of Wyoming and has full corporate power and authority and possesses all governmental franchises, licenses, permits, authorizations and approvals necessary to enable it to own, lease or otherwise hold its properties and assets and to conduct its businesses as presently conducted, other than such franchises, licenses, permits, authorizations and approvals the lack of which, individually or in the aggregate, has not had and would not reasonably be expected to have a material adverse effect on Chelsea, a material adverse effect on the ability of Chelsea to perform its obligations under this Agreement or on the ability of Chelsea to consummate the Transactions (a "<u>Chelsea Material Adverse Effect</u>"). Chelsea is duly qualified to do business in each jurisdiction where the nature of its business or the ownership or leasing of its properties make such qualification necessary and where the failure to so qualify would reasonably be expected to have a Chelsea Material Adverse Effect. Chelsea has delivered to CanvasLand true and complete copies of the articles of incorporation of Chelsea, as amended to the date of this Agreement (as so amended, the "<u>Chelsea Charter</u>"), and the Bylaws of Chelsea, as amended to the date of this Agreement (as so amended, the "<u>Chelsea Bylaws</u>").

SECTION 4.02. <u>No Chelsea Subsidiaries</u>. All the outstanding shares of capital stock or equity investments of each Chelsea Subsidiary have been validly issued and are fully paid and nonassessable and are as of the date of this Agreement owned by Chelsea, by another Chelsea Subsidiary or by Chelsea and another Chelsea Subsidiary, free and clear of all Liens

SECTION 4.03. <u>Capital Structure</u>. The authorized capital stock of Chelsea consists of (1) 1,000,000,000 shares of common stock, par value $0.001 per share, of which (a) 1,000 shares are issued and outstanding (before giving effect to the issuances to be made at Closing), and (b) no shares of common stock are reserved by Chelsea in its treasury; (before giving effect to the issuances to be made at Closing), and (b) no shares of preferred stock are reserved by Chelsea in its treasury. No other shares of capital stock or other voting securities of Chelsea are issued, reserved for issuance or outstanding. All outstanding shares of the capital stock of Chelsea are, and all such shares that may be issued prior to the date hereof will be when issued, duly authorized, validly issued, fully paid and non-assessable and not subject to or issued in violation of any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of Wyoming State Revised Statutes, Chelsea Charter, Chelsea Bylaws or any Contract to which Chelsea is a party or otherwise bound. There are not any bonds, debentures, notes or other indebtedness of Chelsea having the right to vote (or convertible into, or exchangeable for, securities having the right to vote) on any matters on which holders of Chelsea Shares may vote ("<u>Voting Chelsea Debt</u>"). Except as set forth above, as of the date of this Agreement, there are no options, warrants, rights, convertible or exchangeable securities, "phantom" stock rights, stock appreciation rights, stock-based performance units, commitments, Contracts, arrangements or undertakings of any kind to which Chelsea is a party or by which it is bound (a) obligating Chelsea to issue, deliver or sell, or cause to be issued, delivered or sold, additional shares of capital stock or other equity interests in, or any security convertible or exercisable for or exchangeable into any capital stock of or other equity interest in, Chelsea or any Voting Chelsea Debt, (b) obligating Chelsea to issue, grant, extend or enter into any such option, warrant, call, right, security, commitment, Contract, arrangement or undertaking or (c) that give any person the right to receive any economic benefit or right similar to or derived from the economic benefits and rights occurring to holders of the capital stock of Chelsea. As of the date of this Agreement, there are no outstanding contractual obligations of Chelsea to repurchase, redeem or otherwise acquire any shares of capital stock of Chelsea. Chelsea is not a party to any agreement granting any security holder of Chelsea the right to cause Chelsea to register shares of the capital stock or other securities of Chelsea held by such security holder under the Securities Act. The stockholder list provided to CanvasLand is a current stockholder list generated by Chelsea's stock transfer agent, and such list accurately reflects all of the issued and outstanding shares of Chelsea Shares as at the Closing.

SECTION 4.04. <u>Authority; Execution and Delivery; Enforceability</u>. The execution and delivery by Chelsea of this Agreement and the consummation by Chelsea of the Transactions have been duly authorized and approved by the Board of Directors of Chelsea and no other corporate proceedings on the part of Chelsea are necessary to authorize this Agreement and the Transactions. This Agreement constitutes a legal, valid and binding obligation of Chelsea, enforceable against Chelsea in accordance with the terms hereof.

SECTION 4.05. <u>No Conflicts; Consents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The execution and delivery by Chelsea of this Agreement, does not, and the consummation of the Transactions and compliance with the terms hereof and thereof will not, conflict with, or result in any violation of or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination, cancellation or acceleration of any obligation or to loss of a material benefit under, or to increased, additional, accelerated or guaranteed rights or entitlements of any person under, or result in the creation of any Lien upon any of the properties or assets of Chelsea under, any provision of (a) Chelsea Charter or Chelsea Bylaws, (b) any material Contract to which Chelsea is a party or by which any of its properties or assets is bound or (c) subject to the filings and other matters referred to in Section 4.05(b), any material Judgment or material Law applicable to Chelsea or its properties or assets, other than, in the case of clauses (b) and (c) above, any such items that, individually or in the aggregate, have not had and would not reasonably be expected to have a Chelsea Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No Consent of, or registration, declaration or filing with, or permit from, any Governmental Entity is required to be obtained or made by or with respect to Chelsea in connection with the execution, delivery and performance of this Agreement or the consummation of the Transactions.

SECTION 4.06. <u>OTC Documents; Undisclosed Liabilities</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Chelsea has filed, or will file within a reasonable time following the Closing, all reports, schedules, forms, statements and other documents required to be filed by Chelsea with OTC Markets Group, Inc. in order to achieve and maintain the "Pink – Current" designation for the quotation of its common ("<u>Chelsea OTC Documents</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As of its respective filing date, each Chelsea OTC Document complied in all material respects with the published guidelines and requirements of OTC Markets Group, Inc., and did not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. Except to the extent that information contained in any Chelsea OTC Document has been revised or superseded by a later filed Chelsea OTC Document, none of Chelsea OTC Documents contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. The consolidated financial statements of Chelsea included in Chelsea OTC Documents comply as to form in all material respects with applicable accounting requirements and the published guidelines and requirements of OTC Markets Group, Inc. with respect thereto, have been prepared in accordance with U.S. generally accepted accounting principles ("<u>GAAP</u>"), and fairly present the consolidated financial position of Chelsea as of the dates thereof and the results of operations and cash flows for the periods shown.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except as set forth in the filed Chelsea OTC Documents, Chelsea has no liabilities or obligations of any nature (whether accrued, absolute, contingent or otherwise) required by GAAP to be set forth on a balance sheet of Chelsea or in the notes thereto. On or prior to the Closing, all liabilities of Chelsea have been paid, settled, or otherwise discharged in full, and shall in no event remain liabilities of Chelsea, CanvasLand or the Shareholder following the Closing.

SECTION 4.07. <u>Information Supplied</u>. None of the information supplied or to be supplied by Chelsea for inclusion or incorporation by reference in any OTC Markets Group, Inc. filing of report by Chelsea contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they are made, not misleading.

SECTION 4.08. <u>Absence of Certain Changes or Events</u>. Except as disclosed in the filed Chelsea OTC Documents, from the date of the most recent financial statements included in the filed Chelsea OTC Documents to the date of this Agreement, Chelsea has conducted its business only in the ordinary course, and during such period there has not been:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any change in the assets, liabilities, financial condition or operating results of Chelsea from that reflected in Chelsea OTC Documents, except changes in the ordinary course of business that have not caused, in the aggregate, a Chelsea Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any damage, destruction or loss, whether or not covered by insurance, that would have a Chelsea Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any waiver or compromise by Chelsea of a valuable right or of a material debt owed to it;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any satisfaction or discharge of any lien, claim, or encumbrance or payment of any obligation by Chelsea, except in the ordinary course of business and the satisfaction or discharge of which would not have a Chelsea Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any material change to a material Contract by which Chelsea or any of its assets is bound or subject;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any material change in any compensation arrangement or agreement with any employee, officer, director or stockholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) any resignation or termination of employment of any officer of Chelsea;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any loans or guarantees made by Chelsea to or for the benefit of its employees, officers or directors, or any members of their immediate families, other than travel advances and other advances made in the ordinary course of its business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any declaration, setting aside or payment or other distribution in respect of any of Chelsea's capital stock, or any direct or indirect redemption, purchase, or other acquisition of any of such stock by Chelsea;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any alteration of Chelsea's method of accounting or the identity of its auditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) any issuance of equity securities to any officer, director or affiliate (as defined in the Securities Act), except pursuant to existing Chelsea Shares option plans; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any arrangement or commitment by Chelsea to do any of the things described in this Section 4.08.

SECTION 4.09. <u>Taxes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Chelsea has timely filed, or has caused to be timely filed on its behalf, all Tax Returns required to be filed by it, and all such Tax Returns are true, complete and accurate, except to the extent any failure to file, any delinquency in filing or any inaccuracies in any filed Tax Returns, individually or in the aggregate, have not had and would not reasonably be expected to have a Chelsea Material Adverse Effect. All Taxes shown to be due on such Tax Returns, or otherwise owed, have been timely paid, except to the extent that any failure to pay, individually or in the aggregate, has not had and would not reasonably be expected to have a Chelsea Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The most recent financial statements contained in the filed Chelsea OTC Documents reflect an adequate reserve for all Taxes payable by Chelsea (in addition to any reserve for deferred Taxes to reflect timing differences between book and Tax items) for all Taxable periods and portions thereof through the date of such financial statements. No deficiency with respect to any Taxes has been proposed, asserted or assessed against Chelsea, and no requests for waivers of the time to assess any such Taxes are pending, except to the extent any such deficiency or request for waiver, individually or in the aggregate, has not had and would not reasonably be expected to have a Chelsea Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) There are no Liens for Taxes (other than for current Taxes not yet due and payable) on the assets of Chelsea. Chelsea is not bound by any agreement with respect to Taxes.

SECTION 4.10. <u>Absence of Changes in Benefit Plans</u>. From the date of the most recent audited financial statements included in the filed Chelsea OTC Documents to the date of this Agreement, there has not been any adoption or amendment in any material respect by Chelsea of any collective bargaining agreement or any bonus, pension, profit sharing, deferred compensation, incentive compensation, stock ownership, stock purchase, stock option, phantom stock, retirement, vacation, severance, disability, death benefit, hospitalization, medical or other plan, arrangement or understanding (whether or not legally binding) providing benefits to any current or former employee, officer or director of Chelsea (collectively, "<u>Chelsea Benefit Plans</u>"). As of the date of this Agreement there are not any employment, consulting, indemnification, severance or termination agreements or arrangements between Chelsea and any current or former employee, officer or director of Chelsea, nor does Chelsea have any general severance plan or policy.

SECTION 4.11. <u>ERISA Compliance; Excess Parachute Payments</u>. Chelsea does not, and since its inception never has, maintained, or contributed to any "employee pension benefit plans" (as defined in Section 3(2) of ERISA), "employee welfare benefit plans" (as defined in Section 3(1) of ERISA) or any other Chelsea Benefit Plan for the benefit of any current or former employees, consultants, officers or directors of Chelsea.

SECTION 4.12. <u>Litigation</u>. There is no Action that (i) adversely affects or challenges the legality, validity or enforceability of any of this Agreement or Chelsea Shares or (ii) could, if there were an unfavorable decision, individually or in the aggregate, have or reasonably be expected to result in a Chelsea Material Adverse Effect. Neither Chelsea nor any subsidiary, nor any director or officer thereof (in his or her capacity as such), is or has been the subject of any Action involving a claim or violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty.

SECTION 4.13. <u>Compliance with Applicable Laws</u>. Chelsea is in compliance with all applicable Laws, including those relating to occupational health and safety, the environment, export controls, trade sanctions and embargoes, except for instances of noncompliance that, individually and in the aggregate, have not had and would not reasonably be expected to have a Chelsea Material Adverse Effect. Chelsea has not received any written communication during the past two years from a Governmental Entity that alleges that Chelsea is not in compliance in any material respect with any applicable Law. This Section 4.13 does not relate to matters with respect to Taxes, which are the subject of Section 4.09.

SECTION 4.14. <u>Contracts</u>. Except as disclosed in Chelsea OTC Documents, there are no Contracts that are material to the business, properties, assets, condition (financial or otherwise), results of operations or prospects of Chelsea taken as a whole. Chelsea is not in violation of or in default under (nor does there exist any condition which upon the passage of time or the giving of notice would cause such a violation of or default under) any Contract to which it is a party or by which it or any of its properties or assets is bound, except for violations or defaults that would not, individually or in the aggregate, reasonably be expected to result in a Chelsea Material Adverse Effect.

SECTION 4.15. <u>Title to Properties</u>. Chelsea has good title to, or valid leasehold interests in, all of its properties and assets used in the conduct of its businesses. All such assets and properties, other than assets and properties in which Chelsea has leasehold interests, are free and clear of all Liens except for Liens that, in the aggregate, do not and will not materially interfere with the ability of Chelsea to conduct business as currently conducted. Chelsea has complied in all material respects with the terms of all material leases to which it is a party and under which it is in occupancy, and all such leases are in full force and effect. Chelsea enjoys peaceful and undisturbed possession under all such material leases.

SECTION 4.16. <u>Intellectual Property</u>. Chelsea owns, or is validly licensed or otherwise has the right to use, all Intellectual Property Rights that are material to the conduct of the business of Chelsea taken as a whole. No claims are pending or, to the knowledge of Chelsea, threatened that Chelsea is infringing or otherwise adversely affecting the rights of any person with regard to any Intellectual Property Right. To the knowledge of Chelsea, no person is infringing the rights of Chelsea with respect to any Intellectual Property Right.

SECTION 4.17. <u>Labor Matters</u>. There are no collective bargaining or other labor union agreements to which Chelsea is a party or by which it is bound. No material labor dispute exists or, to the knowledge of Chelsea, is imminent with respect to any of the employees of Chelsea.

SECTION 4.18. <u>Market Makers</u>. Chelsea has at least two (2) market makers for Chelsea Shares and such market makers have obtained all permits and made all filings necessary in order for such market makers to continue as market makers of Chelsea.

SECTION 4.19. <u>Transactions With Affiliates and Employees</u>. Except as set forth in the filed Chelsea OTC Documents, none of the officers or directors of Chelsea and, to the knowledge of Chelsea, none of the employees of Chelsea is presently a party to any transaction with Chelsea or any subsidiary (other than for services as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of Chelsea, any entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner.

SECTION 4.20. <u>Solvency</u>. Based on the financial condition of Chelsea as of the Closing Date (and assuming that the Closing shall have occurred), (a) Chelsea's fair saleable value of its assets exceeds the amount that will be required to be paid on or in respect of Chelsea's existing debts and other liabilities (including known contingent liabilities) as they mature, (b) Chelsea's assets do not constitute unreasonably small capital to carry on its business for the current fiscal year as now conducted and as proposed to be conducted including its capital needs taking into account the particular capital requirements of the business conducted by Chelsea, and projected capital requirements and capital availability thereof, and (c) the current cash flow of Chelsea, together with the proceeds Chelsea would receive, were it to liquidate all of its assets, after taking into account all anticipated uses of the cash, would be sufficient to pay all amounts on or in respect of its debt when such amounts are required to be paid. Chelsea does not intend to incur debts beyond its ability to pay such debts as they mature (taking into account the timing and amounts of cash to be payable on or in respect of its debt).

SECTION 4.21. <u>Application of Takeover Protections</u>. Chelsea has taken all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar anti-takeover provision under Chelsea's charter documents or the laws of its state of incorporation that is or could become applicable to the Shareholder as a result of the Shareholder and Chelsea fulfilling their obligations or exercising their rights under this Agreement, including, without limitation, the issuance of Chelsea Shares and the Shareholder's ownership of Chelsea Shares.

SECTION 4.22. <u>No Additional Agreements</u>. Chelsea does not have any agreement or understanding with the Shareholders with respect to the transactions contemplated by this Agreement other than as specified in this Agreement.

SECTION 4.23. <u>Investment CanvasLand</u>. Chelsea is not, and is not an affiliate of, and immediately following the Closing will not have become, an "investment company" within the meaning of the Investment CanvasLand Act of 1940, as amended.

SECTION 4.24. <u>Certain Registration Matters</u>. Chelsea has not granted or agreed to grant to any person any rights (including "piggy-back" registration rights) to have any securities of Chelsea registered with the SEC or any other governmental authority that have not been satisfied.

SECTION 4.25. <u>Quotation Requirements</u>. Chelsea is, and has no reason to believe that it will not in the foreseeable future continue to be, in compliance with the requirements for continued quotation of Chelsea Shares on the "Pink – Current" tier of the trading market operated by OTC Markets Group, Inc. The issuance and sale of Chelsea Shares under this Agreement do not contravene the rules and guidelines of the trading market on which Chelsea Shares are currently quoted, and no approval of the stockholders of Chelsea is required for Chelsea to issue and deliver to the Shareholder Chelsea Shares contemplated by this Agreement.

SECTION 4.26. <u>Foreign Corrupt Practices</u>. Neither Chelsea, nor to Chelsea's knowledge, any director, officer, agent, employee or other person acting on behalf of Chelsea has, in the course of its actions for, or on behalf of, Chelsea (a) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity; (b) made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds; (c) violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended; or (d) made any unlawful bribe, rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic government official or employee.

ARTICLE V

<br> <u>Deliveries</u> 

SECTION 5.01. <u>Deliveries of the Shareholders</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Concurrently herewith the Shareholders are delivering to Chelsea this Agreement executed by the Shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At or prior to the Closing, the Shareholder shall deliver to Chelsea:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) certificates representing its CanvasLand Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a duly executed share transfer power for transfer by the Shareholders of CanvasLand Shares to Chelsea.

<br> SECTION 5.02. <u>Deliveries of Chelsea</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Concurrently herewith, Chelsea is delivering to the Shareholders and to CanvasLand, a copy of this Agreement executed by Chelsea.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At or prior to the Closing, Chelsea shall deliver to CanvasLand:

a certificate from Chelsea, signed by its Secretary or Assistant Secretary certifying that the attached copies of the resolutions of the Board of Directors of Chelsea approving this Agreement and the transactions contemplated hereunder, are all true, complete and correct and remain in full force and effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Promptly following the Closing, Chelsea shall deliver to the Shareholders, certificates representing Chelsea Shares.

SECTION 5.03. <u>Deliveries of CanvasLand</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Concurrently herewith, CanvasLand is delivering to Chelsea this Agreement executed by CanvasLand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At or prior to the Closing, CanvasLand shall deliver to Chelsea a certificate from CanvasLand, signed by its authorized officer certifying that the attached copies of CanvasLand Constituent Instruments and resolutions of the Board of Directors and Shareholders of CanvasLand approving the Agreement and the Transactions are all true, complete and correct and remain in full force and effect.

ARTICLE VI

<u>Conditions to Closing</u>

SECTION 6.01. <u>Shareholders and CanvasLand Conditions Precedent</u>. The obligations of the Shareholders and CanvasLand to enter into and complete the Closing is subject, at the option of the Shareholders and CanvasLand, to the fulfillment on or prior to the Closing Date of the following conditions, any one or more of which may be waived by the Shareholders and CanvasLand in writing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Representations and Covenants</u>. The representations and warranties of Chelsea contained in this Agreement shall be true in all material respects on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date. Chelsea shall have performed and complied in all material respects with all covenants and agreements required by this Agreement to be performed or complied with by Chelsea on or prior to the Closing Date. Chelsea shall have delivered to the Shareholders and CanvasLand, a certificate, dated the Closing Date, to the foregoing effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Litigation</u>. No action, suit or proceeding shall have been instituted before any court or governmental or regulatory body or instituted or threatened by any governmental or regulatory body to restrain, modify or prevent the carrying out of the Transactions or to seek damages or a discovery order in connection with such Transactions, or which has or may have, in the reasonable opinion of CanvasLand or the Shareholders, a materially adverse effect on the assets, properties, business, operations or condition (financial or otherwise) of Chelsea or CanvasLand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>No Material Adverse Change</u>. There shall not have been any occurrence, event, incident, action, failure to act, or transaction since June 20, 2024 which has had or is reasonably likely to cause a Chelsea Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>OTC Reports</u>. Chelsea will file all reports and other documents required to be filed by Chelsea under the guidelines and requirements of OTC Markets Group, Inc. to become listed on their exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>OTC Pink Quotation</u>. Chelsea shall have maintained its status as a company whose common stock is quoted on the Pink – Current tier of the market operated by OTC Markets Group, Inc. and shall make every reasonable effort to remain quoted on the OTC Markets Group, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Deliveries</u>. The deliveries specified in Section 5.02 shall have been made by Chelsea.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)<u>Satisfactory Completion of Due Diligence</u>. The CanvasLand and the Shareholders shall have completed their legal, accounting and business due diligence of Chelsea and the results thereof shall be satisfactory to CanvasLand and the Shareholders in their sole and absolute discretion.

SECTION 6.02. <u>Chelsea Conditions Precedent</u>. The obligations of Chelsea to enter into and complete the Closing are subject, at the option of Chelsea, to the fulfillment on or prior to the Closing Date of the following conditions, any one or more of which may be waived by Chelsea in writing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Representations and Covenants</u>. The representations and warranties of the Shareholders and CanvasLand contained in this Agreement shall be true in all material respects on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date. The Shareholders and CanvasLand shall have performed and complied in all material respects with all covenants and agreements required by this Agreement to be performed or complied with by the Shareholders and CanvasLand on or prior to the Closing Date. The CanvasLand shall have delivered to Chelsea, if requested, a certificate, dated the Closing Date, to the foregoing effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Litigation</u>. No action, suit or proceeding shall have been instituted before any court or governmental or regulatory body or instituted or threatened by any governmental or regulatory body to restrain, modify or prevent the carrying out of the Transactions or to seek damages or a discovery order in connection with such Transactions, or which has or may have, in the reasonable opinion of Chelsea, a materially adverse effect on the assets, properties, business, operations or condition (financial or otherwise) of Chelsea.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>No Material Adverse Change</u>. There shall not have been any occurrence, event, incident, action, failure to act, or transaction which has had or is reasonably likely to cause a CanvasLand Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Deliveries</u>. The deliveries specified in Section 5.01 and Section 5.03 shall have been made by the Shareholders and CanvasLand, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Satisfactory Completion of Due Diligence</u>. Chelsea shall have completed its legal, accounting and business due diligence of CanvasLand and the Shareholders and the results thereof shall be satisfactory to Chelsea in its sole and absolute discretion.

ARTICLE VII

<br> <u>Covenants</u> 

SECTION 7.01. <u>Public Announcements</u>. Prior to the Closing, Chelsea and CanvasLand will consult with each other before issuing, and provide each other the opportunity to review and comment upon, any press releases or other public statements with respect to the Agreement and the Transactions and shall not issue any such press release or make any such public statement prior to such consultation, except as may be required by applicable Law, court process or by obligations pursuant to any listing agreement with any national securities exchanges.

SECTION 7.02. <u>Fees and Expenses</u>. All fees and expenses incurred in connection with this Agreement shall be paid by the Party incurring such fees or expenses, whether or not this Agreement is consummated.

SECTION 7.03. <u>Continued Efforts</u>. Each Party shall use commercially reasonable efforts to (a) take all action reasonably necessary to consummate the Transactions, and (b) take such steps and do such acts as may be necessary to keep all of its representations and warranties true and correct as of the Closing Date with the same effect as if the same had been made, and this Agreement had been dated, as of the Closing Date.

SECTION 7.04. <u>Exclusivity</u>. Each of Chelsea and CanvasLand shall not (and shall not cause or permit any of their affiliates to) engage in any discussions or negotiations with any person or take any action that would be inconsistent with the Transactions and that has the effect of avoiding the Closing contemplated hereby. Each of Chelsea and CanvasLand shall notify each other immediately if any person makes any proposal, offer, inquiry, or contact with respect to any of the foregoing.

SECTION 7.05. <u>Access</u>. Each Party shall permit representatives of any other Party to have full access to all premises, properties, personnel, books, records (including Tax records), contracts, and documents of or pertaining to such Party.

SECTION 7.06. <u>Preservation of Business</u>. From the date of this Agreement until the Closing Date, CanvasLand and Chelsea shall operate only in the ordinary and usual course of business consistent with their respective past practices (provided, however, that Chelsea shall not issue any securities without the prior written consent of CanvasLand), and shall use reasonable commercial efforts to (a) preserve intact their respective business organizations, (b) preserve the good will and advantageous relationships with customers, suppliers, independent contractors, employees and other persons material to the operation of their respective businesses, and (c) not permit any action or omission that would cause any of their respective representations or warranties contained herein to become inaccurate or any of their respective covenants to be breached in any material respect.

ARTICLE VIII

<br> <u>Miscellaneous</u> 

SECTION 8.01. <u>Notices</u>. All notices, requests, claims, demands and other communications under this Agreement shall be in writing and shall be deemed given upon receipt by the Parties at the following addresses (or at such other address for a Party as shall be specified by like notice):

If to Chelsea, to:

The Law Offices of Randall Lanham

Attention: Randall Lanham

28562 Oso Parkway, Unit D

Rancho Santa Margarita, CA 92688

If to CanvasLand, to:<br> Andy Chen

Soares #320 - FIT Center<br> 5 Andar, Macau China

SECTION 8.02. <u>Amendments; Waivers; No Additional Consideration</u>. No provision of this Agreement may be waived or amended except in a written instrument signed by CanvasLand, Chelsea and the Shareholders. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any Party to exercise any right hereunder in any manner impair the exercise of any such right.

SECTION 8.03. <u>Replacement of Securities</u>. If any certificate or instrument evidencing any Chelsea Shares is mutilated, lost, stolen or destroyed, Chelsea shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution therefore, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to Chelsea of such loss, theft or destruction and customary and reasonable indemnity, if requested. The applicants for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs associated with the issuance of such replacement Chelsea Shares. If a replacement certificate or instrument evidencing any Chelsea Shares is requested due to a mutilation thereof, Chelsea may require delivery of such mutilated certificate or instrument as a condition precedent to any issuance of a replacement.

SECTION 8.04. <u>Remedies</u>. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, the Shareholders, Chelsea and CanvasLand will be entitled to specific performance under this Agreement. The Parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations described in the foregoing sentence and hereby agree to waive in any action for specific performance of any such obligation the defense that a remedy at law would be adequate.

SECTION 8.05. <u>Interpretation</u>. When a reference is made in this Agreement to a Section, such reference shall be to a Section of this Agreement unless otherwise indicated. Whenever the words "include," "includes" or "including" are used in this Agreement, they shall be deemed to be followed by the words "without limitation."

SECTION 8.06. <u>Severability</u>. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule or Law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the Transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that Transactions contemplated hereby are fulfilled to the extent possible.

SECTION 8.07. <u>Counterparts; Facsimile Execution</u>. This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the Parties and delivered to the other Parties. Facsimile execution and delivery of this Agreement is legal, valid and binding for all purposes.

SECTION 8.08. <u>Entire Agreement; Third Party Beneficiaries</u>. This Agreement is intended to: (a) constitute the entire agreement, and supersede all prior agreements and understandings, both written and oral, among the Parties with respect to the Transactions and (b) is not intended to confer upon any person other than the Parties any rights or remedies.

SECTION 8.09. <u>Governing Law</u>. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of Wyoming, without reference to principles of conflicts of laws. Any action or proceeding brought for the purpose of enforcement of any term or provision of this Agreement shall be brought only in the federal or state courts sitting in Wyoming.

SECTION 8.10. <u>Assignment</u>. Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be assigned, in whole or in part, by operation of law or otherwise by any of the Parties without the prior written consent of the other Parties. Any purported assignment without such consent shall be void. Subject to the preceding sentences, this Agreement will be binding upon, inure to the benefit of, and be enforceable by, the Parties and their respective successors and assigns.

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Share Exchange Agreement as of the date first above written.

Chelsea Tech, Inc.:

By: <u>/s/ CHEN Pak Keung Andy</u><br> Name: CHEN Pak Keung Andy<br> Title: Chief Executive Officer

CanvasLand:

By: <u>/s/ CHEN Pak Keung Andy</u><br> Name: CHEN Pak Keung Andy<br> Title: Chief Executive Officer

**EXHIBIT A**

**Shares of Chelsea Common Stock To Be Issued And Delivered**

---

| | | |
|:---|:---|:---|
| **Shareholder Name** | **Shares of CanvasLand Stock to be Exchanged** | **Shares of Chelsea Common Stock to be Issued** |
| Tsun Kit, Charles FONG | 150 | 24000000 |
| Syndicate Capital (Asia) Ltd. | 25 | 8000000 |
| Pak Keung, Andy CHEN | 390 | 287999000 |
| Ching Han LAM \* | 435 |  |
| **Totals** | **1000** | **319999000** |

---

\* Ching Han LAM is the wife of Pak Keung, Andy CHEN. Her shares apportionment will be fully received by her husband on the Chelsea level.

## Ex1A-12

**The Law Offices of Randall Lanham**

**A Professional Law Firm**

1816 Kimberly Lake Drive Telephone: (949) 933-1964 <br> Swansea, IL 62226 Email: LanhamLaw@outlook.com

June 11, 2025

Board of Directors Chelsea Tech, Inc.

6353 El Cajon Blvd., Ste. 124

San Diego, CA 92115

Gentlemen and Ladies:

We have acted, at your request, as special counsel to Chelsea Tech, Inc., a Wyoming corporation, (Chelsea Tech) for the purpose of rendering an opinion as to the legality of 40,000,000 shares of Chelsea Tech common stock, par value $0.001, per share to be offered and distributed by Chelsea Tech (the Shares), pursuant to an Offering Statement filed under Regulation A of the Securities Act of 1933, as amended, by Chelsea Tech with the U.S. Securities and Exchange Commission (the SEC) on Form 1-A, for the purpose of registering the offer and sale of the Shares (Offering Statement).

For the purpose of rendering our opinion herein, while we are not licensed to practice in the State of Wyoming, have reviewed statutes of the State of Wyoming, to the extent we deem relevant to the matter opined upon herein, certified or purported true copies of the Certificate of incorporation of Chelsea Tech and all amendments thereto, the By-Laws of Chelsea Tech, selected proceedings of the board of directors of Chelsea Tech authorizing the issuance of the Shares, certificates of officers of Chelsea Tech, and such other documents of Chelsea Tech and of public officials as we have deemed necessary and relevant to the matter opined upon herein. We have assumed, with respect to persons other than directors and officers of Chelsea Tech, the due and proper election or appointment of all persons signing and purporting to sign the documents in their respective capacities, as stated therein, the genuineness of all signatures, the conformity to authentic original documents of the copies of all such documents submitted to me as certified, conformed and photocopied, including the quoted, extracted, excerpted and

reprocessed text of such documents.

Based upon the review described above, it is our opinion that the Shares are duly authorized and when, as and if issued and delivered by Chelsea Tech against payment therefore, as described in the offering statement, will be validly issued, fully paid and non-assessable.

We have not been engaged to examine, nor have we examined, the Offering Statement for the purpose of determining the accuracy or completeness of the information included therein or the compliance and conformity thereof with the rules and regulations of the SEC or the requirements of Form 1-A, and we express no opinion with respect thereto. Our foregoing opinion is strictly limited to matters of Wyoming corporation law; and we do not express an opinion on the federal law of the United States of America or the law of any state or jurisdiction therein other than, as specified herein.

We hereby consent to the filing of this opinion as Exhibit 12.1 to the Offering Statement and to the reference to our firm under the caption Legal Matters in the Offering Circular constituting a part of the Offering Statement. We assume no obligation to update or supplement any of the opinion set forth herein to reflect any changes of law or fact that may occur following the date hereof.

Best Regards,

<u>/S/ Randall J. Lanham, Esq.</u>

Randall J. Lanham, Esq.

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 1-A

### REGULATION A OFFERING STATEMENT
### UNDER THE SECURITIES ACT OF 1933

### Item 1. Issuer Information

**Exact name of issuer:** Chelsea Tech, Inc.

**Jurisdiction of Incorporation/Organization:** WY

**Year of Incorporation:** 2024

**CIK:** 0002065492

**I.R.S. Employer Identification Number:** 99-4793810

**Primary Standard Industrial Classification Code:** 7373

**Total number of full-time employees:** 0

**Total number of part-time employees:** 3

**Address of Principal Executive Offices:** 6353 El Cajon Blvd., Ste. 124, —, San Diego, CA 92115

**Company Phone:** 852-9033-2063

**Person to contact:** Randall Lanham, Esq.

### Financial Statements

**Balance Sheet Information**

| Metric                                   | Amount      |
|:---|:---|
| Cash and Cash Equivalents                | $25815.00   |
| Investment Securities                    | $0.00       |
| Accounts and Notes Receivable            | $92239.00   |
| Property, Plant and Equipment (PP&E)     | $811267.00  |
| Total Assets                             | $1962689.00 |
| Accounts Payable and Accrued Liabilities | $746203.00  |
| Long-Term Debt                           | $417289.00  |
| Total Liabilities                        | $1546637.00 |
| Total Stockholders' Equity               | $416052.00  |
| Total Liabilities and Equity             | $1962689.00 |

**Statement of Comprehensive Income Information**

| Metric                                    | Amount       |
|:---|:---|
| Total Revenues                            | $2577375.00  |
| Costs and Expenses Applicable to Revenues | $-2160605.00 |
| Depreciation and Amortization             | $116577.00   |
| Net Income                                | $-281971.00  |
| Earnings Per Share - Basic                | 0.00         |
| Earnings Per Share - Diluted              | 0.00         |

**Auditor Information**

| Metric          | Amount   |
|:---|:---|
| Name of Auditor |  |

### Outstanding Securities

| Class   |   Outstanding | CUSIP     | Publicly Traded   |
|:---|---:|:---|:---|
| Common  |     400320000 | 16342C106 | N/A               |
| N/A     |             0 | 0000000na | N/A               |
| N/A     |             0 | 0000000na | N/A               |

### Item 2. Issuer Eligibility
- [x] The issuer certifies that all of the statements in this part are true.

### Item 3. Application of Rule 262
- [x] The issuer certifies that it is not disqualified and has not been involved in any disqualifying event.

### Item 4. Summary Information Regarding the Offering

**Tier:** Tier1

**Financial Statement Status:** Unaudited

**Type of Securities Offered:** Equity (common or preferred stock)

**Is this a delayed or continuous offering?** Yes

**Was or is the offering to take place within one year after qualification?** No

**Was or is the offering to commence within two days after qualification?** No

**Is this a best efforts offering?** Yes

**Was there any solicitation of interest?** No

**Are there any resale securities by affiliates of the issuer?** No

**Offering Amounts**

| Description                                                     | Amount       |
|:---|:---|
| Number of securities offered                                    | 40000000     |
| Number of securities outstanding                                | 400320000    |
| Price per security                                              | $0.50        |
| Issuer's aggregate offering price                               | $20000000.00 |
| Aggregate offering price of securities held by security holders | $0.00        |
| Aggregate price of securities offered concurrently              | $0.00        |
| Total aggregate offering price                                  | $20000000.00 |

**Anticipated Fees**

| Service Provider   | Name                 | Fees      |
|:---|:---|:---|
| Auditor            |  |  |
| Legal              | Randall Lanham, Esq. | $15000.00 |
| Promoters          |  |  |

**Estimated Net Proceeds to the Issuer:** $1980000.00

### Item 5. Jurisdictions in Which Securities are to be Offered

- All States and Territories

### Item 6. Unregistered Securities Issued or Sold Within One Year

**Name of Such Issuer:** Chelsea Tech, Inc.

**Title of Securities Issued:** Common

**Total Amount of Securities Issued:** 400320000

**Amount of such securities sold by principal security holders:** 0

**Aggregate consideration:** 1,000 common shares were to Andy Chen, President, CEO and Director for services. 400,319,000 common shares were issued pursuant to a business combination under Section 368(a)(1)(B) of the Internal Revenue Code 1986.

**Basis for aggregate consideration:** —

**Securities Act Exemption:** The offering is being made pursuant to Regulation A promulgated under Section 3(b) of the Securities Act of 1933. The issuer is conducting a Tier 1 offering, which permits eligible companies to offer and sell up to $20 million of securities in a 12-month