# EDGAR Filing Document

**Accession Number:** 0001490054
**File Stem:** 0001096906-23-000577
**Filing Date:** 2023-3
**Character Count:** 77397
**Document Hash:** c87b5630eb01f8d0045c7b653b375f3d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001096906-23-000577.hdr.sgml**: 20230320

**ACCESSION NUMBER**: 0001096906-23-000577

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 58

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230320

**DATE AS OF CHANGE**: 20230317

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VERDE BIO HOLDINGS, INC.
- **CENTRAL INDEX KEY:** 0001490054
- **STANDARD INDUSTRIAL CLASSIFICATION:** CRUDE PETROLEUM & NATURAL GAS [1311]
- **IRS NUMBER:** 300678378
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-54524
- **FILM NUMBER:** 23744370

**BUSINESS ADDRESS:**
- **STREET 1:** 5 COWBOYS WAY
- **STREET 2:** SUITE 300
- **CITY:** FRISCO
- **STATE:** TX
- **ZIP:** 75034
- **BUSINESS PHONE:** (205) 864-5377

**MAIL ADDRESS:**
- **STREET 1:** 5 COWBOYS WAY
- **STREET 2:** SUITE 300
- **CITY:** FRISCO
- **STATE:** TX
- **ZIP:** 75034

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** APPIPHANY TECHNOLOGIES HOLDINGS CORP
- **DATE OF NAME CHANGE:** 20100421

?xml version='1.0' encoding='us-ascii' standalone='no'? VERDE BIO HOLDINGS, INC. - Form 10-Q SEC filing

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-Q**

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

**For the quarterly period ended January 31, 2023**

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

For the transition period from ______ to _______

**Commission File Number 000-54524**

**VERDE BIO HOLDINGS, INC.**

(Name of small business issuer in its charter)

---

| | |
|:---|:---|
| **Nevada** | **30-0678378** |
| (State of incorporation) | (I.R.S. Employer Identification No.) |

---

---

| |
|:---|
| &nbsp;&nbsp;**5750 Genesis Court, Suite 220B** |
| &nbsp;&nbsp;**Frisco Texas 75034** |
| &nbsp;&nbsp;(Address of principal executive offices) |
| &nbsp;&nbsp;**(972) 217-4080** |
| &nbsp;&nbsp;(Registrant's telephone number) |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

[X] Yes [ ] No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Sec.232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

[X] Yes [ ] No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer", "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| **Large accelerated filer** | [ ] | **Accelerated filer** | [ ] |
| Non-accelerated filer | [X] | **Smaller reporting company** | ☒ |
|  |  | **Emerging growth company** | ☐ |

---

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

☐Yes [X] No

As of March 16, 2023, there were 1,470,188,278 shares of the registrant's $0.001 par value common stock issued and outstanding.

------

**VERDE BIO HOLDINGS, INC.\***

---

| | | |
|:---|:---|:---|
| **TABLE OF CONTENTS** | **TABLE OF CONTENTS** | **TABLE OF CONTENTS** |
|  |  | **Page** |
| **PART I. FINANCIAL INFORMATION** | **PART I. FINANCIAL INFORMATION** |  |
| ITEM 1. | [CONDENSED CONSOLIDATED FINANCIAL STATEMENTS](#a2) | F-1 |
| ITEM 2. | [MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](#a3) | 4 |
| ITEM 3. | [QUALITATIVE AND QUANTITATIVE DISCLOSURES ABOUT MARKET RISK](#a4) | 7 |
| ITEM 4. | [CONTROLS AND PROCEDURES](#a5) | 7 |
| **PART II. OTHER INFORMATION** | **PART II. OTHER INFORMATION** |  |
| ITEM 1. | [LEGAL PROCEEDINGS](#a6) | 7 |
| ITEM 1A. | [RISK FACTORS](#a7) | 8 |
| ITEM 2. | [UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS](#a8) | 8 |
| ITEM 3. | [DEFAULTS UPON SENIOR SECURITIES](#a9) | 8 |
| ITEM 4. | [MINE SAFETY DISCLOSURES](#a10) | 8 |
| ITEM 5. | [OTHER INFORMATION](#a11) | 8 |
| ITEM 6. | [EXHIBITS](#a12) | 8 |

---

**Special Note Regarding Forward-Looking Statements**

Information included in this Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act"). This information may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Verde Bio Holdings, Inc., (the "Company"), to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially from those expressed or implied by the forward-looking statements as a result of various factors. Except as required by applicable laws, the Company has no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

*\*Please note that throughout this Quarterly Report, except as otherwise indicated by the context, references in this report to "Company", "VBH", "we", "us" and "our" are references to Verde Bio Holdings, Inc.*

------

[**Table of Contents**](#a1)

------

**PART I - FINANCIAL INFORMATION**

**ITEM 1. CONDENSED FINANCIAL STATEMENTS**

**VERDE BIO HOLDINGS, INC.**

Condensed Consolidated Financial Statements

For the Three and Nine Months Ended January 31, 2023 and 2022

(unaudited)

---

| | |
|:---|:---|
| &nbsp;&nbsp;[Condensed Consolidated Balance Sheets (unaudited)](#a13) | &nbsp;&nbsp;F-2 |
| &nbsp;&nbsp;[Condensed Consolidated Statements of Operations (unaudited)](#a14) | &nbsp;&nbsp;F-3 |
| &nbsp;&nbsp;[Condensed Consolidated Statements of Stockholders' Equity (unaudited)](#a15) | &nbsp;&nbsp;F-4 |
| &nbsp;&nbsp;[Condensed Consolidated Statements of Cash Flows (unaudited)](#a16) | &nbsp;&nbsp;F-6 |
| &nbsp;&nbsp;[Notes to the Condensed Consolidated Financial Statements (unaudited)](#a17) | &nbsp;&nbsp;F-7 |

---

------

**VERDE BIO HOLDINGS INC.**

Condensed Consolidated Balance Sheets

(Expressed in US dollars)

(unaudited)

---

| | | |
|:---|:---|:---|
|  | January 31, <br> 2023<br> $ | April 30, <br> 2022<br> $ |
| **ASSETS** |  |  |
| Current Assets |  |  |
| &nbsp;&nbsp;&nbsp;Cash | 50063  | 141206  |
| &nbsp;&nbsp;&nbsp;Accounts receivable | 109420  | 125828  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 5826  | 28839  |
| **Total current assets**  | 165309  | 295873  |
| Non-current assets  |  |  |
| &nbsp;&nbsp;&nbsp;Right-of-use operating lease asset  | 33943  | 72323  |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 2739607  | 2778721  |
| &nbsp;&nbsp;&nbsp;Oil and natural gas properties, net based on the full cost method of accounting  | 1387223  | 1938140  |
| **Total assets** | 4326082  | 5085057  |
| **LIABILITIES** |  |  |
| Current Liabilities |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities | 160117  | 168236  |
| &nbsp;&nbsp;&nbsp;Convertible notes payable  | 132020  | - |
| &nbsp;&nbsp;&nbsp;Due to related party | 20000  | - |
| &nbsp;&nbsp;&nbsp;Current portion of operating lease liability  | 36527  | 56891  |
| &nbsp;&nbsp;&nbsp;Warrant liabilities | 1228018  | 1228018  |
| Total Current Liabilities | 1576682  | 1453145  |
| &nbsp;&nbsp;&nbsp;Non-current portion of operating lease liability  | - | 21337  |
| **Total Liabilities** | 1576682  | 1474482  |
| **TEMPORARY EQUITY**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C Preferred Stock: Designated: 1,400 shares, par value of $0.001 per share <br> Issued and outstanding: 909 and 1,040 shares, respectively | 1  | 1  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series C accrued dividends  | 89097  | 20308  |
| Total Temporary Equity | 89098  | 20309  |
| **STOCKHOLDERS' EQUITY** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A Preferred Stock Designated: 500,000 shares, par value of $0.001 per share <br> Issued and outstanding: 500,000 shares | 500  | 500  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common Stock Authorized –5,000,000,000 common shares, par value of $0.001 per share <br> Issued and outstanding: 1,423,521,611 and 1,179,365,468 common shares, respectively | 1423523  | 1179366  |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 16829005  | 16669291  |
| &nbsp;&nbsp;&nbsp;Accumulated deficit  | (15592726)  | (14258891)  |
| **Total Stockholders' Equity**  | 2660302  | 3590266  |
| **Total Liabilities and Equity**  | 4326082  | 5085057  |

---

------

(The accompanying notes are an integral part of these condensed consolidated financial statements)

------

**VERDE BIO HOLDINGS INC.**

Condensed Consolidated Statements of Operations

(Expressed in US dollars)

(unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | For the three<br> months <br> ended <br> January 31, <br> 2023<br> $ | For the three<br> months <br> ended <br> January 31, <br> 2022<br> $ | For the nine<br> months <br> ended<br> January 31,<br> 2023<br> $ | For the nine<br> months ended <br> January 31, <br> 2022<br> $ |
| **Revenue** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Mineral property and royalty revenues | 170312  | 301567  | 794578  | 509579  |
| **Operating Expenses** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Consulting fees | 63640  | 32450  | 296321  | 187365  |
| &nbsp;&nbsp;&nbsp;Depletion expense | 84700  | 227256  | 395916  | 334568  |
| &nbsp;&nbsp;&nbsp;General and administrative  | 235535  | 411887  | 949035  | 1085575  |
| &nbsp;&nbsp;&nbsp;Impairment of oil and gas properties | - | - | - | 1266046  |
| &nbsp;&nbsp;&nbsp;Depreciation expense | 15483  | 6280  | 46099  | 6280  |
| &nbsp;&nbsp;&nbsp;Professional fees | 32825  | 37467  | 167882  | 140224  |
| &nbsp;&nbsp;&nbsp;Project expenditures | 152306  | 31834  | 177238  | 219126  |
| **Total Operating Expenses**  | 584489  | 747174  | 2032491  | 3239184  |
| **Net Operating Loss** | (414177)  | (445607)  | (1237913)  | (2729605)  |
| **Other Income (Expenses)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commitment fees | – | – | – | – |
| &nbsp;&nbsp;&nbsp;Finance charges | (15960)  | (272478)  | (56160)  | (272845)  |
| &nbsp;&nbsp;&nbsp;Interest expense | (9699)  | - | (39762)  | - |
| &nbsp;&nbsp;&nbsp;Gain on extinguishment of debt | - | - | - | 4722  |
| **Total Other Income (Expenses)** | (25659)  | (272478)  | (95922)  | (268123)  |
| **Net Loss**  | (439836)  | (718085)  | (1333835)  | (2997728)  |
| **Series C Preferred Stock Dividends** | (21855)  | (7808)  | (68789)  | (7808)  |
| **Net Loss to Shareholders** | (461691)  | (725893)  | (1402624)  | (3005536)  |
| <br> **Net Loss Per Share – Basic and Diluted** | (0.00)  | (0.00)  | (0.00)  | (0.00)  |
| <br> **Weighted Average Shares Outstanding – Basic and Diluted** | 1367786733  | 1165335033  | 1300490001  | 1129904130  |

---

------

(The accompanying notes are an integral part of these condensed consolidated financial statements)

------

**VERDE BIO HOLDINGS INC.**

Condensed Consolidated Statements of Stockholders' Equity

(Expressed in US dollars)

For the three and nine months ended January 31, 2023 and 2022

(unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | Common Stock | Common Stock | | | |
|  | | Shares | Par<br> Value | | | |
|  | Preferred Stock<br>Shares

# | $# | $ | Additional<br>Paid-in<br>Capital<br>$ | <br>Accumulated<br>Deficit<br>$ | <br>Total<br>$ |
| Balance – October 31, 2021 | 500000  | 1164765468  | 1164766  | 16533350  | (13116388)  | 4582228  |
| Series C preferred stock dividend  | - | - | - | (7808)  | - | (7808)  |
| Shares issued for services | - | 2300000  | 2300  | 23710  | - | 26010  |
| Net loss for the period | - | - | - | - | (718085)  | (718085)  |
| Balance – January 31, 2022 | 500000  | 1167065468  | 1167066  | 16549252  | (13834473)  | 3882345  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | Common Stock | Common Stock | | | |
|  | | Shares | Par<br> Value | | | |
|  | Preferred Stock<br>Shares

# | $# | $ | Additional<br>Paid-in<br>Capital<br>$ | <br>Accumulated<br>Deficit<br>$ | <br>Total<br>$ |
| Balance – October 31, 2022 | 500000  | 1324096144  | 1324097  | 16874287  | (15152890) | 3045994  |
| Common shares issued for conversion of Series C preferred stock | - | 99425467  | 99426  | (99426)  | - | -  |
| Series C preferred stock issued for cash | - | - |  | 72000  | - | 72000  |
| Series C preferred stock issued for commitment fees | _ | _ |  | 4000  |  | 4000  |
| Series C preferred stock dividend  | - | - | - | (21856)  | - | (21856)  |
| Net loss for the period | - | - | - | - | (439836) | (439836)  |
| Balance – January 31, 2023 | 500000  | 1423521611  | 1423523  | 16829005  | (15592726) | 2660302  |

---

------

(The accompanying notes are an integral part of these condensed consolidated financial statements)

------

**VERDE BIO HOLDINGS INC.**

Condensed Consolidated Statements of Stockholders' Equity

(Expressed in US dollars)

For the three and nine months ended January 31, 2023 and 2022

(unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | Common Stock | Common Stock | | | |
|  | | Shares | Par<br> Value | | | |
|  | Preferred Stock<br>Shares

# | $# | $ | Additional<br>Paid-in<br>Capital<br>$ | <br>Accumulated<br>Deficit<br>$ | <br>Total<br>$ |
| Balance – April 30, 2021 | 500000  | 683084699  | 683085  | 12132666  | (10836745)  | 2655756  |
| Common shares issued upon conversion of notes payable | - | 6500000  | 6500  | 74750  | - | - |
| Common shares issued for cash | - | 451550000  | 451550  | 4063950  | - | 3920500  |
| Common shares issued for conversion of Series A preferred shares | - | 15030769  | 15031  | 199909  | - | 214940  |
| Common shares issued for services | - | 6900000  | 6900  | 82950  | - | 89850  |
| Series C preferred stock dividend |  | - | - | (7808)  | - | (7808)  |
| Common shares issued to settle accounts payable | - | 4000000  | 4000  | 36000  | - | 40000  |
| Share issuance costs | - | - | - | (33165)  | - | (33165)  |
| Net loss for the period | - | - | - | - | (2997728)  | (2997728)  |
| Balance – January 31, 2022 | 500000  | 1167065468  | 1167066  | 16549252  | (13834473)  | 3882345  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | Common Stock | Common Stock | | | |
|  | | Shares | Par<br> Value | | | |
|  | Preferred Stock<br>Shares

# | $# | $ | Additional<br>Paid-in<br>Capital<br>$ | <br>Accumulated<br>Deficit<br>$ | <br>Total<br>$ |
| Balance – April 30, 2022 | 500000  | 1179365468  | 1179366  | 16669291  | (14258891)  | 3590266  |
| Series C preferred stock issued for commitment fee | - | - | - | 11000  | - | 11000  |
| Common shares issued for conversion of Series C preferred stock | - | 230556143  | 230557  | (230557)  | - | -  |
| Common shares issued for services | - | 13600000  | 13600  | 85060  | - | 98660  |
| Series C preferred stock issued for cash | - | - | - | 363000  | - | 363000  |
| Series C preferred stock dividend  | - | - | - | (68789)  | - | (68789)  |
| Net loss for the period | - | - | - | - | (1333835)  | (1333835)  |
| Balance – January 31, 2023 | 500000  | 1423521611  | 1423523  | 16829005  | (15592726)  | 2660302  |

---

------

(The accompanying notes are an integral part of these condensed consolidated financial statements)

------

**VERDE BIO HOLDINGS INC.**

Condensed Consolidated Statements of Cash Flow

(Expressed in US dollars)

(unaudited)

---

| | | |
|:---|:---|:---|
| | For the nine<br> months ended <br> January 31, <br> 2023<br> $ | For the nine<br> months ended <br> January 31, <br> 2022<br> $ |
| Operating Activities |  |  |
| Net loss  | (1333835)  | (2997728)  |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Amortization of right-of-use asset | 38380  | 31558  |
| &nbsp;&nbsp;&nbsp;Depletion expense | 395916  | 334568  |
| &nbsp;&nbsp;&nbsp;Depreciation expense | 46099  | 6280  |
| &nbsp;&nbsp;&nbsp;Finance costs | - | 228019  |
| &nbsp;&nbsp;&nbsp;Gain on settlement of debt | - | (4722)  |
| &nbsp;&nbsp;&nbsp;Impairment of oil and gas properties | - | 1266046  |
| &nbsp;&nbsp;&nbsp;Original issuance discount and issuance fees | 37160  | - |
| &nbsp;&nbsp;&nbsp;Shares issued for services | 98660  | 89850  |
| &nbsp;&nbsp;&nbsp;Shares issued or issuable for commitment fees | 11000  | 40000  |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts receivable | 16408  | (133411)  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 23013  | 5536  |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities | (8118)  | 27726  |
| &nbsp;&nbsp;&nbsp;Right-of-use liability | (41701)  | - |
| Net cash used in operating activities | (717018)  | (1141157)  |
| Investing Activities |  |  |
| &nbsp;&nbsp;&nbsp;Acquisition of property and equipment | (6985)  | (2611519)  |
| &nbsp;&nbsp;&nbsp;Oil and gas property expenditures | (20000)  | (2506425)  |
| &nbsp;&nbsp;&nbsp;Proceeds from sale of oil and gas properties | 175000  | -  |
| Net Cash provided by (used in) investing activities  | 148015  | (5117944)  |
| Financing Activities |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from issuance of common stock  | - | 3920500  |
| &nbsp;&nbsp;&nbsp;Proceeds from issuance of series C preferred shares | 363000  | 1000000  |
| &nbsp;&nbsp;&nbsp;Proceeds from convertible debentures  | - | - |
| &nbsp;&nbsp;&nbsp;Proceeds from advances | - | - |
| &nbsp;&nbsp;&nbsp;Proceeds from related party loan | 20000  | - |
| &nbsp;&nbsp;&nbsp;Proceeds from loan | 235000  | - |
| &nbsp;&nbsp;&nbsp;Repayment of convertible debenture | (140140)  | (5000)  |
| &nbsp;&nbsp;&nbsp;Share issuance costs | - | (33165)  |
| Net cash provided by financing activities | 477860  | 4882335  |
| Change in Cash  | (91143)  | (1376766)  |
| Cash – Beginning of Period | 141206  | 2087897  |
| Cash – End of Period | 50063  | 711131  |
| **Supplemental Disclosures** |  |  |
| &nbsp;&nbsp;&nbsp;Interest paid | 16817  | - |
| **Non-cash investing and financing activities** |  |  |
| &nbsp;&nbsp;&nbsp;Common stock issued/issuable for conversion of convertible debentures | - | 81250  |
| &nbsp;&nbsp;&nbsp;Common stock issued for conversion of Series B preferred shares  | - | 214940  |
| &nbsp;&nbsp;&nbsp;Common stock issued for settlement of accounts payable | - | 40000  |
| &nbsp;&nbsp;&nbsp;Series C preferred stock accrued dividend | (68789)  | (7808)  |
| &nbsp;&nbsp;&nbsp;Common stock issued for conversion of Series C preferred stock | 230557  | - |

---

------

(The accompanying notes are an integral part of these condensed consolidated financial statements)

------

**VERDE BIO HOLDINGS INC.**

Notes to the Condensed Consolidated Financial Statements

(Expressed in US dollars)

(unaudited)

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.** **Nature of Operations and Continuance of Business**

Verde Bio Holdings Inc. (the "Company") was incorporated in the State of Nevada on February 24, 2010. Currently, the Company is in the business of oil and gas exploration and investment.

On March 11, 2021, the World Health Organization declared COVID-19 a global pandemic. This contagious disease outbreak and any related adverse public health developments, has adversely affected workforces, economies, and financial markets globally, leading to an economic downturn. The impact on the Company has not been significant but management continues to monitor the situation.

*Going Concern*

These condensed consolidated financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. During the period ended January 31, 2023, the Company incurred a net loss of $1,333,835 and used cash of $717,018 for operating activities. As at January 31, 2023, the Company had an accumulated deficit of $15,592,726. The continuation of the Company as a going concern is dependent upon the continued financial support from its management, and its ability to identify future investment opportunities and obtain the necessary debt or equity financing, and generating profitable operations from the Company's future operations. The Company will continue to rely on equity sales of its common shares in order to continue to fund business operations. These factors raise substantial doubt regarding the Company's ability to continue as a going concern for a period of one year from the date these financial statements are issued. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.** **Summary of Significant Accounting Policies**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Basis of Presentation and Principles of Consolidation

The accompanying condensed consolidated financial statements of the Company should be read in conjunction with the consolidated financial statements and accompany notes filed with the U.S. Securities and Exchange Commission for the year ended April 30, 2022. These condensed consolidated financial statements are unaudited and have been prepared on the same basis as the annual consolidated financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company's financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period.

These condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("US GAAP") and are expressed in U.S. dollars. The condensed consolidated financial statements are comprised of the records of the Company and its wholly owned subsidiary, IP Control Risk Inc., a company incorporated in the State of Nevada, United States. All intercompany transactions have been eliminated on consolidation. The Company's fiscal year end is April 30.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Use of Estimates

The preparation of these condensed consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

------

**VERDE BIO HOLDINGS INC.**

Notes to the Condensed Consolidated Financial Statements

(Expressed in US dollars)

(unaudited)

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.** **Summary of Significant Accounting Policies** (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Use of Estimates (continued)

The Company regularly evaluates estimates and assumptions related to the collectability of accounts receivable relating to oil and gas interests which is based on the operator's production statements, carrying value of oil and gas properties, the useful life, carrying value, and incremental borrowing rate used for right-of-use assets and lease liabilities, the fair value of stock-based compensation, revenue recognition including the calculation of the reserves and the fair value of the reserves for oil and gas interests, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Basic and Diluted Net Loss per Share

The Company computes net loss per share in accordance with ASC 260, *Earnings per Share*. ASC 260 requires presentation of both basic and diluted earnings per share ("EPS") on the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. As of January 31, 2023, the Company had 198,164,333 (April 30, 2022 –143,609,408) potentially dilutive common shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Fair Value Measurements

The Company measures and discloses the estimated fair value of financial assets and liabilities using the fair value hierarchy prescribed by U.S. generally accepted accounting principles. The fair value hierarchy has three levels, which are based on reliable available inputs of observable data. The hierarchy requires the use of observable market data when available. The three-level hierarchy is defined as follows:

Level 1 – quoted prices for identical instruments in active markets;

Level 2 – quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model derived valuations in which significant inputs and significant value drivers are observable in active markets; and

Level 3 – fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

Financial instruments consist principally of cash, accounts payable and accrued liabilities, notes payable, convertible debentures and amounts due to related parties. The fair value of cash is determined based on Level 1 inputs. There were no transfers into or out of "Level 3" during the period ended January 31, 2023. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective relatively short maturity dates or durations.

------

**VERDE BIO HOLDINGS INC.**

Notes to the Condensed Consolidated Financial Statements

(Expressed in US dollars)

(unaudited)

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.** **Summary of Significant Accounting Policies** (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Fair Value Measurements (continued)

Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)Recent Accounting Pronouncements

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.** **Right-of-Use Operating Lease Asset and Lease Liability**

ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company's incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the ROU asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the ROU asset result in straight-line rent expense over the lease term. ROU assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term.

On March 11, 2022, the Company entered into a sublease agreement with a sublandlord regarding its office at 5750 Genesis Court, Suite 220, Frisco, Texas 75036. The agreement was treated as an operating lease in accordance with ASC 842, *Lease*, which resulted in initial recognition of right-of-use asset and lease liability of $122,120. The incremental borrowing rate used in the calculation is 18%.

---

| | | |
|:---|:---|:---|
|  | January 31,<br> 2023 | April 30, <br> 2022 |
|  | $| $|
| **Components of lease expense were as follows:**<br>|  |  |
| Operating lease cost | 38309 | 43155 |
| **Supplemental cash flow information related to leases:** |  |  |
| Cash paid for amounts included in the measurement of lease liabilities: |  |  |
| &nbsp;&nbsp;Operating cash flows from operating leases | 49822 | 66430 |

---

------

**VERDE BIO HOLDINGS INC.**

Notes to the Condensed Consolidated Financial Statements

(Expressed in US dollars)

(unaudited)

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.** **Right-of-Use Asset and Lease Liability** (continued)

---

| | | |
|:---|:---|:---|
|  | January 31, <br>2023 | April 30, <br> 2022 |
| **Supplemental balance sheet information related to leases:** |  |  |
| **Operating Leases** |  |  |
| Operating lease right-of-use assets | 33943 | 72323 |
| Operating lease liabilities | 36627 | 78228 |
| **Weighted Average Remaining Lease Term** |  |  |
| &nbsp;&nbsp;&nbsp;Operating leases | 0.66 years | 1.41 years |
| **Weighted Average Discount Rate** |  |  |
| &nbsp;&nbsp;&nbsp;Operating leases | 18% | 18% |

---

---

| | | |
|:---|:---|:---|
| **Maturities of lease liabilities are as follows:** |  |  |
| Year Ending April 30,  | Operating<br> Leases | Operating<br> Leases |
| 2023 | 16608 | 66430 |
| 2024 | 22143 | 22143 |
| Total lease payments | 38751 | 88573 |
| Less: imputed interest | (2224) | (10345) |
| Total | 36527 | 78228 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.** **Royalty Interests in Oil and Gas Properties**

---

| | |
|:---|:---|
|  | $|
| Balance, April 30, 2022 | 1938140 |
| &nbsp;&nbsp;Acquisition and exploration cost | 20000 |
| &nbsp;&nbsp;Disposal of mineral property | (175000) |
| &nbsp;&nbsp;Depletion expense | (395917) |
| Balance, January 31, 2023 | 1387223 |

---

On August 3, 2022, the Company signed a purchase and sale agreement for 100% right, title and interest to certain properties located in Jack County, Texas for cash consideration of $20,000.

On December 9, 2022, The Company signed purchase and sale agreement to dispose of 100% right, title and interest to certain properties located in Adams County, Colorado for cash consideration of $175,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.** **Property and Equipment**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Land<br> $ | Vehicles<br> $ | Equipment<br> $ | Leasehold Improvements<br> $ | Total<br> $ |
| Cost |  |  |  |  |  |
| Balance, April 30, 2022 | 2501924 | 125595 | 36195 | 140881 | 2804595 |
| &nbsp;&nbsp;&nbsp;Additions | - | - | 6985 | - | 6985 |
| Balance, January 31, 2023 | 2501924 | 125595 | 43180 | 140881 | 2811580 |

---

------

**VERDE BIO HOLDINGS INC.**

Notes to the Condensed Consolidated Financial Statements

(Expressed in US dollars)

(unaudited)

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.** **Property and Equipment** (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Accumulated depreciation |  |  |  |  |  |
| Balance, April 30, 2022  | - | 12559 | 6271 | 7044 | 25874 |
| &nbsp;&nbsp;&nbsp;Additions | - | 18839 | 6128 | 21132 | 46099 |
| Balance, January 31, 2023 | - | 31398 | 12399 | 28176 | 71273 |
| Balance, April 30, 2022 | 2501924 | 113036 | 29924 | 133837 | 2778721 |
| Balance, January 31, 2023 | 2501924 | 94197 | 30781 | 112705 | 2739607 |

---

**6.** **Convertible Notes Payable**

On June 3, 2022, the Company entered into a convertible loan agreement with an arms-length party for $200,200 net of original issuance discount of $21,450 and legal fees of $3,750. Under the terms of the agreement, the Company incurred a one-time interest charge of $24,024 upon the closing of the agreement, which has been recorded in accounts payable and accrued liabilities and is required to remit a monthly repayment of $22,422 commencing in July 2022. If the Company defaults on the loan agreement, the outstanding principal balance will increase to 150% of the principal balance owing at the time of default, and the holder has the right to convert the remaining balance outstanding at the time of default at 75% of the lowest trading price of the Company's common stock for the last 10 trading days prior to default. During the period ended January 31, 2023, the Company repaid a total of $156,957 on the convertible loan, comprised of $140,140 of principal and $16,817 of accrued interest. As of January 31, 2023, $60,060 of loan payable balance and $7,207 of accrued interest remain outstanding.

On January 9, 2023, the Company entered into another convertible loan agreement with the same arms-length party for $71,960 net of original issuance discount of $7,710 and legal fees of $4,250. Under the terms of the agreement, the Company incurred a one-time interest charge of $8,635 upon the closing of the agreement, which has been recorded in accounts payable and accrued liabilities and is required to remit a monthly repayment of $8,060 commencing in March 2023. If the Company defaults on the loan agreement, the outstanding principal balance will increase to 150% of the principal balance owing at the time of default, and the holder has the right to convert the remaining balance outstanding at the time of default at 75% of the lowest trading price of the Company's common stock for the last 10 trading days prior to default. As of January 31, 2023, $71,960 of loan payable balance and $8,635 of accrued interest remain outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.** **Loans Payable Due to Related Party**

As of January 31, 2023, the Company owed $20,000 (April 30, 2022 - $nil) to the President and Director of the Company which is non-interest bearing, unsecured, and due on demand.

**8.** **Related Party Transactions**

During the period ended January 31, 2023, the Company repaid $40,000 for accrued management and consulting fees.

------

**VERDE BIO HOLDINGS INC.**

Notes to the Condensed Consolidated Financial Statements

(Expressed in US dollars)

(unaudited)

------

**9.** **Common Shares**

Authorized:5,000,000,000 common shares with a par value of $0.001 per share.

On May 10, 2022, the Company issued 8,219,179 common shares pursuant to the conversion of 50 shares of Series C preferred stock.

On May 13, 2022, the Company issued 13,000,000 common shares with a fair value of $96,200 for consulting services.

On May 17, 2022, the Company issued 100,000 common shares with a fair value of $750 for consulting services.

On May 26, 2022, the Company issued 18,079,097 common shares pursuant to the conversion of 80 shares of Series C preferred stock.

On June 15, 2022, the Company issued 100,000 common shares with a fair value of $680 for consulting services.

On June 16, 2022, the Company issued 19,900,498 common shares pursuant to the conversion of 100 shares of Series C preferred stock.

On July 8, 2022, the Company issued 17,204,302 common shares pursuant to the conversion of 40 shares of Series C preferred stock.

On July 18, 2022, the Company issued 100,000 common shares with a fair value of $380 for consulting services.

On July 21, 2022, the Company issued 21,505,377 common shares pursuant to the conversion of 50 shares of Series C preferred stock.

On August 15, 2022, the Company issued 100,000 common shares with a fair value of $270 for consulting services.

On August 18, 2022, the Company issued 22,222,223 common shares pursuant to the conversion of 35 shares of Series C preferred stock.

On September 14, 2022 the Company issued 24,000,000 common shares pursuant to the conversion of 45 shares of Series C preferred stock.

On September 22, 2022, the Company issued 100,000 common shares with a fair value of $200 for consulting services.

On October 17, 2022, the Company issued 100,000 common shares with a fair value of $180 for consulting services.

On November 2, 2022, the Company issued 22,500,000 common shares pursuant to the conversion of 27 shares of Series C preferred stock.

On December 14, 2022, the Company issued 25,000,000 common shares pursuant to the conversion of 30 shares of Series C preferred stock.

On January 9, 2023, the Company issued 17,142,143 common shares pursuant to the conversion of 18 shares of Series C preferred stock.

On January 19, 2023, the Company issued 34,782,609 common shares pursuant to the conversion of 30 shares of Series C preferred stock.

------

**VERDE BIO HOLDINGS INC.**

Notes to the Condensed Consolidated Financial Statements

(Expressed in US dollars)

(unaudited)

------

**10.** **Preferred Shares**

Authorized: 500,000 Series A preferred shares with a par value of $0.001 per Series A share

7,600 Series C preferred shares with a par value of $0.001 per Series C share

*Convertible Preferred Series A stock*

On April 18, 2017, the Company designated 500,000 shares of preferred stock as Series A. The holders of Series A preferred shares are entitled to receive dividends equal to the amount of the dividend or distribution per share of common stock payable multiplied by the number of shares of common stock the shares of Series A preferred shares held by such holder are convertible into. Each Series A preferred shares is convertible into one common share. Each holder of Series A preferred shares is entitled to cast 10,000 votes for every one Series A preferred share held.

*Convertible Preferred Series C stock*

On December 3, 2021, the Company entered into a securities purchase agreement (the "December Agreement") with an arms-length party for the issuance of up to 1,000 shares of convertible preferred Series C stock ("Series C") for $1,000,000 based on the stated value of $1,000 per share. Under the December Agreement, the Company has a put option with regards to the Series C shares. Under the terms of the December Agreement, the Series C shares are non-redeemable, subject to annual dividend payments of 10% and are convertible into common stock of the Company at a discount to the market price of the Company's common stock at the date of the notice of conversion from the note holder. In addition to the Series C shares, the Company issued an additional 40 Series C shares, with a fair value of $40,000, to the note holder as a commitment fee on the Agreement. During the period ended January 31, 2023, the Company issued 230,556,143 common shares upon the conversion of 505 Series C preferred stock. During the period ended January 31, 2023, the Company issued 138 Series C preferred stock for 132,000, net of issuance and transaction costs of $6,000. As at January 31, 2023, 673 (April 30, 2022 – 1,040) shares of Series C preferred stock remained unpurchased and outstanding under the December Agreement.

On May 24, 2022, the Company entered into an additional securities purchase agreement (the "May Agreement") with an arms-length party for the issuance of up to 250 shares of convertible preferred Series C stock for $250,000. Under the May Agreement, the Company has a put option with regards to the Series C shares. Under the terms of the May Agreement, the Series C shares are entitled to receive dividends at 8% per annum and are convertible into common stock of the Company at a discount to the market price of the Company's common stock at the date of the notice of conversion from the note holder. During the period ended January 31, 2023, the Company issued 236 Series C preferred stock for proceeds of $231,000, net of issuance and transaction costs of $5,000.

The Series C preferred stock and the accrued dividends relating to the stock are classified as temporary equity. As at January 31, 2023, the Company had 909 (April 30, 2022 – 1,040) shares of Series C stock with a carrying value of $1 (April 30, 2022 - $1) and recorded accrued dividend payable of $89,097 (April 30, 2022 - $20,308) which is included in temporary equity and offset against additional paid in capital.

In addition to the Series C stock, the Company issued 61,885,671 warrants on December 8, 2021 with a conversion price of $0.01067 per share for a period of five years and 63,157,895 warrants on January 27, 2022 with a conversion price of $0.01045 per share for a period of five years. The fair value of the warrants was $1,228,018 based on the Black-Scholes option pricing model assuming an expected life of 5 years, volatility of 314-318%, risk-free rate of 1.2-1.7%, and no expected dividends. The fair value of the warrants was treated as a liability as it met the conditions of a liability in accordance with ASC 480, Distinguishing Liabilities from Equity. As the fair value of the warrants were greater than the gross proceeds received on the issuance of the Series C shares, the excess difference of $228,019 was recorded in the statement of operations as a finance cost.

------

**VERDE BIO HOLDINGS INC.**

Notes to the Condensed Consolidated Financial Statements

(Expressed in US dollars)

(unaudited)

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.** **Share Purchase Warrants**

---

| | | |
|:---|:---|:---|
|  | Number of<br> warrants | Weighted average exercise price<br> $ |
| Balance, January 31, 2023 and April 30, 2022 | 125043566 | 0.01 |

---

Additional information regarding share purchase warrants as of January 31, 2023 is as follows:

---

| | | |
|:---|:---|:---|
|  | Outstanding and exercisable | Outstanding and exercisable |
| Range of<br> Exercise Prices<br> $ | Number of Warrants | Weighted Average Remaining Contractual Life (years) |
| 0.01 | 125043566 | 3.9 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.** **Commitments and Contingencies**

On May 28, 2020, the Company and an unrelated party entered into equity financing agreement, whereby the investor agreed to invest up to $5,000,000 over the period of 36 months pursuant to a "put" option held by the Company, subject to certain limitations. The price of the common shares shall be equal to 80% of the lowest traded price during the last 10 trading days leading up to each put notice, subject to a floor of $0.001 per share. As part of the agreement, the Company issued a convertible promissory note to the unrelated party to offset transaction costs of $20,000, which was deemed as earned upon the execution of the agreement. The note is convertible into common stock of the Company at a fixed price of $0.01, which equals the lowest traded price for the common stock on the trading day preceding the execution of the note. The purchase of the shares are subject to a "put" option held by the Company. As at January 31, 2023 and April 30, 2022, no common shares have been sold pursuant to the equity financing agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.** **Subsequent Events**

On February 9, 2023, the Company signed a one-year commercial lease agreement to premises in Jack County, Texas.

On February 10, 2023, the Company issued 46,666,667 common shares pursuant to the conversion of 35 shares of Series C preferred stock.

On March 2, 2023, the Company entered into a convertible loan agreement with an arms-length party for $225,874 net of original issuance discount of $24,202.

------

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

**OR PLAN OF OPERATION**

**FORWARD-LOOKING STATEMENTS**

This Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) contains forward-looking statements that involve known and unknown risks, significant uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, or implied, by those forward-looking statements. You can identify forward-looking statements by the use of the words may, will, should, could, expects, plans, anticipates, believes, estimates, predicts, intends, potential, proposed, or continue or the negative of those terms. These statements are only predictions. In evaluating these statements, you should consider various factors which may cause our actual results to differ materially from any forward-looking statements. Although we believe that the exceptions reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

**RESULTS OF OPERATIONS**

***Working Capital***

---

| | | |
|:---|:---|:---|
|  | **January 31, 2023** | **April 30, 2022** |
|  | **$** | **$** |
|  | **(unaudited)** |  |
| Current Assets | 165309 | 295873 |
| Current Liabilities | 1576682 | 1453145 |
| Working Capital Deficit | (1411373) | (1157272) |

---

***Cash Flows***

---

| | | |
|:---|:---|:---|
|  | **January 31, 2023** | **January 31, 2022** |
|  | **$** | **$** |
|  | **(unaudited)** | **(unaudited)** |
| Cash Flows used in Operating Activities | (717018) | (1141157) |
| Cash Flows used in Investing Activities | 148015 | (5117944) |
| Cash Flows provided by Financing Activities | 477860 | 4882335 |
| Net Decrease in Cash During Period | (91143) | (1376766) |

---

***Operating Revenues***

*Three Months Ended January 31, 2023*

During the three months ended January 31, 2023, the Company earned royalty revenues of $170,312 compared to royalty revenues of $301,567 for the three months ended January 31, 2022. The revenue is derived from its interests in various oil and gas properties and the increase in royalty revenues in the current period was attributed to an increase in the investment in royalty rights based on the Company's continued investment and development in its operating activities. As part of the revenues generated from the oil and gas properties, the Company recorded depletion expense of $84,700 during the three months ended January 31, 2023 compared to depletion expense of $227,256 during the period ended January 31, 2022 which represents the proportionate use of the produced units in the properties relative to proven and probable reserves. The overall decrease in depletion expense is reflective of the overall increase in investment in royalty properties.

*Nine Months Ended January 31, 2023*

During the nine months ended January 31, 2023, the Company earned royalty revenues of $794,578 compared to royalty revenues of $509,579 for the nine months ended January 31, 2022. The revenue is derived from its interests in various oil and gas properties and the increase in royalty revenues in the current period was attributed to an increase in the

------

investment in royalty rights based on the Company's continued investment and development in its operating activities. As part of the revenues generated from the oil and gas properties, the Company recorded depletion expense of $395,916 during the nine months ended January 31, 2023 compared to depletion expense of $334,568 during the period ended January 31, 2022 which represents the proportionate use of the produced units in the properties relative to proven and probable reserves. The overall increase in depletion expense is reflective of the overall increase in investment in royalty properties.

***Operating Expenses and Net Loss***

*Three Months Ended January 31, 2023*

During the three months ended January 31, 2023, the Company incurred operating expenses of $584,489 compared to operating expenses of $747,174 during the three months ended January 31, 2022. The decrease in operating expenses was due to lower depletion expense of $142,556 based on lower royalty revenues generated during the current period. Furthermore, there was a decrease in general and administrative costs of $26,352 and project expenditures of $29,528 as the Company dialed back overhead costs and searching for new projects during the current period. This was offset by an increase in consulting fees of $31,190 as the Company began exploring a potential uplist of its current trading market.

Net loss for the three months ended January 31, 2023 was $439,837 compared to a net loss of $718,085 during the three months ended January 31, 2022. In addition to revenues and operating expenses, the Company incurred financing costs of $15,960 and interest expense of $9,699 during the current period compared to finance charges of $272,478 during the comparable period, as the Company incurred costs relating to issuance of common stock, conversion of convertible debentures and issuance of both Series B and C preferred stock. During the current year, the Company has not issued any new convertible debentures and declared $21,855 of dividends to Series C preferred stock holders compared to $7,808 of dividends during the three months ended January 31, 2022.

For the three months ended January 31, 2023 and 2022, the Company recorded a basic and diluted loss per share of $0.00.

*Nine Months Ended January 31, 2023*

During the nine months ended January 31, 2023, the Company incurred operating expenses of $2,032,491 compared to operating expenses of $3,239,184 during the nine months ended January 31, 2022. The decrease in operating expenses was due to a one-time impairment loss of $1,266,046 during the nine months ended January 31, 2022 and a decrease of $191,888 in project expenditures as the Company focused more time and efforts to finding new royalty opportunities in the prior period. The decrease was offset by an increase of $108,956 in consulting fees, an increase of $39,819 for depreciation expense for an overall increase in capitalized property and equipment, an increase of $61,348 in depletion expense based on an increase in overall production and royalty revenues compared to prior year, and $27,658 increase in professional fees due to increasing labor costs with respect to audit, accounting, and legal services.

Net loss for the nine months ended January 31, 2023 was $1,333,835 compared to a net loss of $2,997,728 during the nine months ended January 31, 2022. In addition to revenues and operating expenses, the Company incurred financing costs of $56,160 and interest expense of $39,762 during the current period as well as dividends of $68,789 for the Series C preferred shareholders. For the nine months ended January 31, 2022, the Company recorded a gain on extinguishment of debt of $4,722 and finance charges of $272,845.

For the nine months ended January 31, 2023 and 2022, the Company recorded a basic and diluted loss per share of $0.00.

***Liquidity and Capital Resources***

As at January 31, 2023, the Company had cash of $50,063 and total assets of $4,326,082 compared to cash of $141,206 and total assets of $5,085,057 as at April 30, 2022. Overall, the Company's cash and asset balances decreased given that the Company's operating revenues are still not sufficient to cover overhead costs and is reliant financing activities to support its ongoing operations.

The Company had total liabilities of $1,576,683 as at January 31, 2023 compared to $1,474,482 as at April 30, 2022. The increase in liabilities was due to a new loan agreement with a carrying value of $132,020 offset by a decrease of $41,701 for operating lease liability. Outside of the new loan agreement and standard expense of monthly operating lease costs, there were no other significant changes to overall financial statement liability captions on the Company's consolidated financial statements.

------

As of January 31, 2023, the Company had a working capital deficit of $1,411,373 compared to a working capital deficit of $1,157,272 as at April 30, 2022. The increase in the working capital deficit was due to the use of cash for operations along with the new loan agreement of $132,020, which was used to fund the Company's ongoing operating activity.

During the period ended January 31, 2023, the Company entered into a new Series C preferred stock agreement that allowed investors to subscribe for up to 250 Series C preferred stock at $1,000 per stock for overall proceeds of $250,000. As at January 31, 2023, the Company had issued 231 shares of Series C preferred stock for proceeds of $231,000 less $12,000 for legal and transaction costs. In addition, the Company issued 11 shares of Series C preferred stock with a fair value of $11,000 as a commitment fee with respect to the preferred stock agreement. The Company also issued 13,600,000 common shares for services with a fair value of $98,660 and issued 230,556,143 common shares for the conversion of Series C preferred shares.

***Cash Flow from Operating Activities***

During the nine months ended January 31, 2023, the Company used $717,018 of cash for operating activities compared to $1,141,157 of cash for operating activities during the nine months ended January 31, 2022. The decrease in the use of cash for operating activities was due to lower project expenditure costs as the Company incurred more time and cost in the prior fiscal period on project evaluation as the Company was focused on acquisition of new properties whereas in the current fiscal period, the Company was focused on the overall management of the Company's existing portfolio of oil and natural gas properties.

***Cash Flow from Investing Activities***

During the nine months ended January 31, 2023, the Company received proceeds of $148,015 of cash for investing activities, which included $175,000 from the sale of oil and gas properties offset by use of $20,000 for oil and gas expenditures and $6,985 for acquisition of property and equipment. Conversely, during the nine months ended January 31, 2022, the Company incurred cash of $5,117,944 of cash for investing activities including $2,506,425 for purchases of oil and gas properties and $2,611,519 of equipment as the Company was heavily focused on building its portfolio of assets and oil and natural gas properties during the prior year.

***Cash Flow from Financing Activities***

During the nine months ended January 31, 2023, the Company raised $477,860 of cash from financing activities, which included $235,000 from the issuance of a convertible note payable less repayment of $140,140, $20,000 from a related party loan, and $363,000 from the issuance of 370 Series C preferred stock. During the nine months ended January 31, 2022, the Company received $4,882,335 of cash from financing activities, including $3,920,500 from the issuance of common shares less repayment of $5,000 to repay the outstanding balance of a convertible debenture, $1,000,000 from the issuance of Series C preferred stock less $33,165 of share issuance costs.

***Going Concern***

We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive acquisitions and activities. During the period ended January 31, 2023, the Company incurred a net loss of $1,333,835 and used cash of $717,018 for operating activities. At January 31, 2023, the Company has an accumulated deficit of $15,592,726. These factors raise substantial doubt regarding the Company's ability to continue as a going concern. The unaudited condensed financial statements included in this report on Form 10-Q does not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

***Off-Balance Sheet Arrangements***

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

***Future Financings***

We will continue to rely on equity sales of our Common Shares in order to continue to fund our business operations. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that we

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will achieve any additional sales of the equity securities or arrange for debt or other financing to fund planned acquisitions and exploration activities.

***Critical Accounting Policies***

Our financial statements and accompanying notes have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods.

We regularly evaluate the accounting policies and estimates that we use to prepare our financial statements. A complete summary of these policies is included in the notes to our financial statements. In general, management's estimates are based on historical experience, on information from third party professionals, and on various other assumptions that are believed to be reasonable under the facts and circumstances. Actual results could differ from those estimates made by management.

***Recently Issued Accounting Pronouncements***

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

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

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

**ITEM 4. CONTROLS AND PROCEDURES**

***Evaluation of Disclosure Controls and Procedures***

We maintain disclosure controls and procedures, as defined in Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934 (the "Exchange Act"), that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

We carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of January 31, 2023. Based on the evaluation of these disclosure controls and procedures, and in light of the material weaknesses found in our internal controls over financial reporting, our Chief Executive Officer and Principal Financial Officer concluded that our disclosure controls and procedures were not effective.

***Changes in Internal Control over Financial Reporting***

There has been no change in our internal control over financial reporting identified in connection with our evaluation we conducted of the effectiveness of our internal control over financial reporting as of January 31, 2023, that occurred during the period that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

**PART II - OTHER INFORMATION**

**ITEM 1. LEGAL PROCEEDINGS.**

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

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**ITEM 1A. RISK FACTORS.**

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Quarterly Issuances:

Other than as previously disclosed in the above Notes to the Condensed Consolidated Financial Statements, we did not issue any unregistered securities during the quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Subsequent Issuances:

Other than as previously disclosed in the above Notes to the Condensed Consolidated Financial Statements, we did not issue any unregistered securities subsequent to the quarter.

**ITEM 3. DEFAULTS UPON SENIOR SECURITIES.**

None.

**ITEM 4. MINE SAFETY DISCLOSURES.**

Not Applicable.

**ITEM 5. OTHER INFORMATION.**

None.

**ITEM 6. EXHIBITS**

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| | | |
|:---|:---|:---|
| **Exhibit Number** | **Description of Exhibit** | **Filing** |
| 3.1 | [Amended and Restated Articles of Incorporation](http://www.sec.gov/Archives/edgar/data/1490054/000107878210001364/appiphanys1ex31.htm) | Filed previously and incorporated by reference |
| 3.2 | Amended and Restated [Certificate of Designation for Series C Preferred Shares](http://www.sec.gov/Archives/edgar/data/1490054/000109690622000606/vbhi_ex3z2.htm) (incorporated by reference as Exhibit 3.1 to Form 8K filed June 1, 2022) | Filed previously and incorporated by reference |
| 3.3 | [Bylaws](http://www.sec.gov/Archives/edgar/data/1490054/000107878210001364/appiphanys1ex32.htm) | Filed previously and incorporated by reference. |
| 31.1 | [Certification of Principal Executive Officer Pursuant to Rule 13a-14](vbhi_ex31z1.htm) | Filed herewith. |
| 31.2 | [Certification of Principal Financial Officer Pursuant to Rule 13a-14](vbhi_ex31z2.htm) | Filed herewith. |
| 32.1 | [Certification of Principal Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act](vbhi_ex32z1.htm) | Filed herewith. |
| 32.2 | [Certification of Principal Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act](vbhi_ex32z2.htm) | Filed herewith. |

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\*Pursuant to Regulation S-T, this interactive data file is deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, and otherwise is not subject to liability under these sections.

------

**SIGNATURES**

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

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| | | |
|:---|:---|:---|
|  | **VERDE BIO HOLDINGS, INC.** | **VERDE BIO HOLDINGS, INC.** |
| Dated: March 17, 2023 | By: | /s/ *Scott Cox*  |
|  |  | Scott Cox |
|  | Its: | President, Principal Executive Officer & Principal Financial Officer (Principal Accounting Officer) |

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Pursuant to the requirement of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Company and in the capacities and on the dates indicated:

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| | | |
|:---|:---|:---|
| Dated: March 17, 2023 | By: | */s/ Scott Cox* |
|  | Its: | Scott Cox, Director |

---

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## Exhibit 31.1

**EXHIBIT 31.1**

**CERTIFICATION**

I, Scott Cox, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.I have reviewed this quarterly report for the period ended January 31, 2023 on Form 10-Q of Verde Bio Holdings, Inc.;

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The small business issuer's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the small business issuer and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Evaluated the effectiveness of the small business issuer's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Disclosed in this report any change in the small business issuer's internal control over financial reporting that occurred during the small business issuer's most recent fiscal quarter (the small business issuer's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the small business issuer's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.The small business issuer's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small business issuer's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: March 15, 2023 | /s/ SCOTT COX |
|  | Scott Cox, Chief Executive Officer |
|  | Verde Bio Holdings, Inc. |

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## Exhibit 31.2

**EXHIBIT 31.2**

**CERTIFICATION**

I, Scott Cox, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.I have reviewed this quarterly report for the period ended January 31, 2023 on Form 10-Q of Verde Bio Holdings, Inc.;

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The small business issuer's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the small business issuer and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Evaluated the effectiveness of the small business issuer's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Disclosed in this report any change in the small business issuer's internal control over financial reporting that occurred during the small business issuer's most recent fiscal quarter (the small business issuer's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the small business issuer's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.The small business issuer's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small business issuer's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer's internal control over financial reporting.

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| | |
|:---|:---|
| Date: March 15, 2023 | /s/ SCOTT COX |
|  | Scott Cox, Principal Financial Officer |
|  | Verde Bio Holdings, Inc.  |

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## Exhibit 32.1

**EXHIBIT 32.1**

**CERTIFICATION PURSUANT TO**

**18 U.S.C. §1350, AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the Quarterly Report of Verde Bio Holdings, Inc. (the "Company") on Form 10-Q for the period ended January 31, 2023 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Scott Cox, Principal Executive Officer and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | |
|:---|:---|
| Date: March 15, 2023 | /s/ SCOTT COX  |
|  | Scott Cox, Chief Executive Officer |
|  | Verde Bio Holdings, Inc. |

---

## Exhibit 32.2

**EXHIBIT 32.2**

**CERTIFICATION PURSUANT TO**

**18 U.S.C. §1350, AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the Quarterly Report of Verde Bio Holdings, Inc. (the "Company") on Form 10-Q for the period ended January 31, 2023 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Scott Cox, Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | |
|:---|:---|
| Date: March 15, 2023 | /s/ SCOTT COX  |
|  | Scott Cox, Principal Financial Officer |
|  | Verde Bio Holdings, Inc. |

---