# EDGAR Filing Document

**Accession Number:** 0001883835
**File Stem:** 0001520138-23-000143
**Filing Date:** 2023-3
**Character Count:** 38942
**Document Hash:** ea1da9fe8ccc5b52cf258ca23d737cd5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001520138-23-000143.hdr.sgml**: 20230317

**ACCESSION NUMBER**: 0001520138-23-000143

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 30

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230317

**DATE AS OF CHANGE**: 20230317

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PLASMA INNOVATIVE INC.
- **CENTRAL INDEX KEY:** 0001883835
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **IRS NUMBER:** 871918342
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-259772
- **FILM NUMBER:** 23741373

**BUSINESS ADDRESS:**
- **STREET 1:** 523 SCHOOL HOUSE RD
- **CITY:** KENNETT SQUARE
- **STATE:** PA
- **ZIP:** 19348
- **BUSINESS PHONE:** 267-467-5871

**MAIL ADDRESS:**
- **STREET 1:** 523 SCHOOL HOUSE RD
- **CITY:** KENNETT SQUARE
- **STATE:** PA
- **ZIP:** 19348

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

 **SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM 10-Q**

(Mark One)

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

**For the quarterly period ended November 30, 2022**

OR

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

For the transition period from ________ to _________

Commission File Number: **333-259772**

**<u>PLASMA INNOVATIVE INC.</u>**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Nevada** | **87-1918342** |
| (State or Other Jurisdiction of<br> Incorporation or Organization) | (I.R.S. Employer<br> Identification No.) |
| **523 School House Rd.<br> Kennett Square, PA** | **19348** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

**267-467-5871**

(Registrant's telephone number, including area code)

---

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

---

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

Securities registered under Section 12(b) of the Exchange Act: None

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

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

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of January 3, 2023, there were 15,466,668 shares of common stock, $0.001 par value per share, issued and outstanding.

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
|  |  | Page |
| **[PART I – FINANCIAL INFORMATION](#a001)** | **[PART I – FINANCIAL INFORMATION](#a001)** |  |
| [Item 1.](#a002) | [Financial Statements](#a002) | 3 |
| [Item 2.](#a003) | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#a003) | 10 |
| [Item 3.](#a004) | [Quantitative and Qualitative Disclosures About Market Risk](#a004) | 12 |
| [Item 4.](#a005) | [Controls and Procedures](#a005) | 12 |
| **[PART II – OTHER INFORMATION](#a006)** | **[PART II – OTHER INFORMATION](#a006)** |  |
| [Item 1.](#a007) | [Legal Proceedings](#a007) | 13 |
| [Item 1A.](#a008) | [Risk Factors](#a008) | 13 |
| [Item 2.](#a009) | [Unregistered Sale of Equity Securities and Use of Proceeds](#a009) | 13 |
| [Item 3.](#a010) | [Defaults Upon Senior Securities](#a010) | 13 |
| [Item 4.](#a011) | [Mine Safety Disclosures](#a011) | 13 |
| [Item 5.](#a012) | [Other Information](#a012) | 13 |
| [Item 6.](#a013) | [Exhibits](#a013) | 14 |
| **[SIGNATURES](#a014)** | **[SIGNATURES](#a014)** | 15 |

---

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

**Part I. Financial Information**

***Item 1. Financial Statements***

**PLASMA INNOVATIVE INC.**

**BALANCE SHEET**

---

| | | |
|:---|:---|:---|
|  | **November<br> 30, 2022**<br>**(Unaudited)** | **August 31,<br> 2022**<br>**(Audited)** |
| **ASSETS** |  |  |
| Current Assets |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $80781 | $86139 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | - | - |
| Total Current Assets | 80781 | 86139 |
| Property, Plant and Equipment, net | 964 | 1029 |
| Total Assets | $81745 | $87168 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| Current liabilities |  |  |
| &nbsp;&nbsp;&nbsp;Account payable | 5434 | 3366 |
| Total Current Liabilities | 5434 | 3366 |
| Total Liabilities | 5434 | 3366 |
| Stockholders' Equity |  |  |
| Preferred stock, par value $0.001; 10,000,000 shares authorized; 0 shares issued and outstanding |  |  |
| Common stock, par value $0.001; 65,000,000 shares authorized, 15,466,668 shares issued and outstanding | 15467 | 15467 |
| Additional paid in capital | 124700 | 124700 |
| Accumulated deficit | (63856) | (56365) |
| Total Stockholder's Equity | 76311 | 83802 |
| Total Liabilities and Stockholder's Equity | $81745 | $87168 |

---

See accompanying notes to the condensed financial statements.

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

**PLASMA INNOVATIVE INC.**

**STATEMENT OF OPERATIONS**

**(UNAUDITED)**

---

| | | |
|:---|:---|:---|
|  | **For The Three Months Ended** | **For The Three Months Ended** |
|  | **November 30, 2022** | **November 30, 2021** |
| Operating expenses |  |  |
| General and administrative expenses | $7500 | $22368 |
| Total operating expenses | 7500 | 22368 |
| Net Loss from operations | (7500) | (22368) |
| Interest income | 8 | - |
| Loss before income tax | (7491) | (22368) |
| Provision for income taxes | - | - |
| Net loss | (7491) | (22368) |
| Net Loss Per Share: Basic and Diluted | $(0.00) | $(0.00) |
| Weighted Average Number of Shares Outstanding: Basic and Diluted | 15466668 | 15411729 |

---

See accompanying notes to the condensed financial statements.

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

**PLASMA INNOVATIVE INC.**

**STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY**

**(UNAUDITED)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **For The Three Months Ended November 30, 2022** | **For The Three Months Ended November 30, 2022** | **For The Three Months Ended November 30, 2022** | **For The Three Months Ended November 30, 2022** | **For The Three Months Ended November 30, 2022** | **For The Three Months Ended November 30, 2022** | **For The Three Months Ended November 30, 2022** |
|  | **Common Stock** | **Common Stock** | **Additional<br> Paid-in** | **Subscription** | **Accumulated** | **Total<br> Stockholders'** |
|  | **Shares** | **Amount** | **Capital** | **Payable** | **Deficit** | **Equity** |
| **Balance, August 31, 2022** | 15466668 | $15467 | $124700 | $- | $(56365) | $83802 |
| **Net loss** | **-** | - | **-** | - | (7491) | (7491) |
| **Balance, November 30, 2022** | 15466668 | $15467 | $124700 | $- | $(63856) | $76311 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **For The Three Months Ended November 30, 2021** | **For The Three Months Ended November 30, 2021** | **For The Three Months Ended November 30, 2021** | **For The Three Months Ended November 30, 2021** | **For The Three Months Ended November 30, 2021** | **For The Three Months Ended November 30, 2021** | **For The Three Months Ended November 30, 2021** |
|  | **Common Stock** | **Common Stock** | **Additional<br> Paid-in** | **Subscription** | **Accumulated** | **Total<br> Stockholders'** |
|  | **Shares** | **Amount** | **Capital** | **Payable** | **Deficit** | **Equity** |
| **Balance, August 31, 2021** | 15355556 | $15356 | $124700 | $- | $(1452) | $138604 |
| **Shares payable for service** | **-** | **-** | **-** | 112 | **-** | 112 |
| **Net Loss** | **-** | **-** | **-** | **-** | (22368) | (22368) |
| **Balance, November 30, 2021** | 15355556 | $15356 | $124700 | $112 | $(22368) | $116348 |

---

See accompanying notes to the condensed financial statements.

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

**PLASMA INNOVATIVE INC.**

**STATEMENT OF CASH FLOWS**

**(UNAUDITED)**

---

| | | |
|:---|:---|:---|
|  | **For The Three Months Ended** | **For The Three Months Ended** |
|  | **November 30, 2022** | **November 30, 2021** |
| **CASH FLOWS FROM OPERATING ACTIVITIES:** |  |  |
| Net loss for the period | $(7491) | $(22368) |
| &nbsp;&nbsp;&nbsp;Adjustments to reconcile net loss to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Account payable increase | 2069 |  |
| &nbsp;&nbsp;&nbsp;Depreciation expense | 65 | 65 |
| &nbsp;&nbsp;&nbsp;Prepaid expense | - | 11000 |
| Net Cash Used in Operating Activities | $(5358) | $(11303) |
| **CASH FLOWS FROM INVESTING ACTIVITIES:** |  |  |
| Purchase of property, plant, and equipment | $- | $(1289) |
| Net Cash used in Investing Activities |  | (1289) |
| **NET INCREASE IN CASH** | (5358) | (12480) |
| Cash, beginning of period | 86139 | 127604 |
| Cash, end of period | $80781 | $115124 |
| **SUPPLEMENTAL CASH FLOW INFORMATION:** |  |  |
| Cash paid for interest | $- | $- |
| Cash paid for income tax | $- | $- |
| **NON-CASH FINANCING AND INVESTING ACTIVITIES:** |  |  |
| Common stock payable for services | $- | $112 |

---

See accompanying notes to the condensed financial statements.

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

**PLASMA INNOVATIVE INC.**

**NOTES TO FINANCIAL STATEMENTS**

**NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS**

Plasma Innovative Inc. (the "Company", "we", "us" or "our") was incorporated on July 22, 2021, under the law of the State of Nevada for the purpose of researching, developing, designing, manufacturing, and distributing cold plasma equipment for application in the agriculture industry.

**NOTE 2 – GOING CONCERN**

The accompanying financial statements were prepared assuming the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. For the three months ended November 30, 2022, the Company has no revenues. Management's plans are to initially market our technologies to farmers, nurseries, and greenhouses close to our facilities in Pennsylvania and collaborate with agriculture departments at various universities to expand the business. The ability of the Company to continue as a going concern is dependent upon the Company's ability to implement its business plan and generate sufficient revenue. There are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

**NOTE 3 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

**Basis of Presentation**

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America.

**Use of Estimates**

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Although these estimates are based on management's knowledge of current events and actions management may undertake in the future, actual results may ultimately differ from those estimates and such differences may be material to our consolidated financial statements.

**Cash and Cash Equivalents**

The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The Company had $80,781 of cash as of November 30, 2022, and $86,139 of cash as of August 31, 2022.

**Property and Equipment**

Property and equipment are stated at cost, less accumulated depreciation. Major repairs and improvements that significantly extend original useful lives or improve productivity are capitalized and depreciated over the period benefited. Maintenance and repairs are expensed as incurred. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations.

The Company had property and equipment of $964 as of November 30, 2022, and $1,029 as of August 31, 2022, respectively.

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

**Depreciation, Amortization, and Capitalization**

The Company records depreciation and amortization when appropriate using the straight-line balance method over the estimated useful life of the assets. The Company establishes a capitalization policy for its assets based on the dollar amount that is more than $1,000 in value or if its estimated useful life exceeds one year.

The Company had depreciation expense of $65 for both of the three months ended November 30, 2022 and 2021.

**Fair Value of Financial Instruments**

ASC Topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

These tiers include:

Level 1: defined as observable inputs such as quoted prices in active markets.

Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

**Impairment of Long-lived Assets**

In accordance with FASB ASC 360-10, Accounting for the Impairment or Disposal of Long-lived Assets, long-lived assets such as property and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable, or it is reasonably possible that these assets could become impaired as a result of technological or other changes. The determination of recoverability of assets to be held and used is made by comparing the carrying amount of an asset to future undiscounted cash flow to be generated by the asset.

**Income Taxes**

Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and law. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

**Revenue Recognition**

The Company will recognize revenue in accordance with ASC Topic 606 "Revenue Recognition". The Company recognizes revenue when products are fully delivered, or services have been provided and collection is reasonably assured.

**Comprehensive Income**

Comprehensive income is defined as all changes in stockholders' equity (deficit), exclusive of transactions with owners, such as capital investments. Compressive income includes net income or loss, changes in certain assets, and liabilities that are reported directly in equity such as translation adjustments on investments. In foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of November 30, 2022, there were no differences between our comprehensive loss and net loss.

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

**Basic Income (Loss) Per Share**

The Company computes income (loss) per share in accordance with FASB ASC 260 "Earnings per Share". Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effects is anti-dilutive. As of November 30, 2022, there were no potentially dilutive debt or equity instruments issued or outstanding.

**Stock-Based Compensation**

Stock-based compensation is accounted for at the grant date fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.

**Recent Accounting Pronouncements**

As of November 30, 2022, and for the period then ended, there were no recently adopted accounting standards that had a material impact on the Company's financial statements. There were no recently issued accounting standards not yet adopted which would have a material effect on the Company's financial statements.

**NOTE 4 – COMMITMENTS AND CONTINGENCIES**

On August 8, 2021, the Company entered into an Office Space Using Agreement with Pietro Industries Inc. ("Pietro") for its office building located at 523 School House Road, Kennett Square, PA 19348.

On September 18, 2021, but effective August 28, 2021, the Company and Pietro signed a termination agreement that effectively terminated the Office Space Using Agreement, and Joint Testing and Evaluation Agreement. On that same date, Pietro agreed to allow the Company to use 1,000 square feet at its premises month to month on a rent-free basis.

**NOTE 5 - COMMON STOCK**

The Company has 75,000,000 shares of stock authorized, including 65,000,000 common stocks, at $0.001 par value per share, and 10,000,000 preferred stocks, at $0.001 par value per share. There were 15,466,668 shares of common stock issued and outstanding as of November 30, 2022.

On August 6, 2021, the Company entered into the Technology Assignment Agreement with Hanliang Shao, a director of the Company. Pursuant to the agreement, Mr. Saho conveyed to the Company all his rights, titles and interests in and to three separate technologies. In exchange, Mr. Shao will earn 4,000,000 shares of Company's common stock upon the filing of a patent with the US Patent and Trademark Office ("USPTO"). In addition, Mr. Shao shall be entitled to receive a total of 2,000,000 additional shares of Company common stock issuable monthly over a three (3) year period beginning with the month of August 2021 ("Term") at the rate of 55,556 shares per month, except in final month, the amount will be 55,540, provided that during the Term, the assignee does not breach the confidentiality and non-compete covenants contained in the agreement. Mr. Shao has entitled 111,112 shares of common stock at $0.001 par value under the agreement for the months of September 2021 and October 2021, which were issued in January 2022 at a value of $111. Mr. Shao passed away on November 20, 2021. On December 20, 2021, the Company entered into a Continuation of Technology Assignment Agreement with Ping Wu, Tian Yang, Jun Shao, Yu Shao, Chunni Shao, and Dongni Shao (collectively, the "Shao Heirs"). Pursuant to this agreement, Mr. Tian Yang was appointed by the Shao Heirs to be the recipient and record holder of the Earned Shares and remaining Shares (as defined in the original Technology Assignment Agreement).

**NOTE 6 - SUBSEQUENT EVENTS**

In accordance with SFAS 165 (ASSC 855-10) the Company has analyzed its operations subsequent to November 30, 2022 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements.

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

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

**Forward-Looking Statements**

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

Substantial risks exist with respect to an investment in the Company. These risks include but are not limited to, those factors discussed in our Annual Report on Form 10-K for the fiscal year ended August 31, 2022, filed with the Securities and Exchange Commission ("Commission") on November 17, 2022. More broadly, these factors include, but are not limited to:

● We have incurred significant losses and expect to incur future losses;

● We have limited operating history and limited business growth;

● Potential significant dilution resulting from the issuance of new securities for any funding, debt conversion or any business combination.

**Description of Business**

Plasma Innovative Inc., a Nevada corporation, were incorporated on July 22, 2021. We are an emerging cold plasma application company. We intend to use our proprietary, cold plasma technology to treat crops and plant seeds for agriculture. We believe that treated seeds yield healthier and more productive plants and crops. One of our directors has spent the last 16 years testing and developing this technology, which has been assigned to the Company.

We have begun the assembly and construction of our initial cold plasma processing unit which we will use for test purposes.

Plasma is called the fourth state of matter after gas, solid and liquid. It was identified by Sir William Crooks in 1879. Plasma is roughly defined as a collection of equal positive and negative charge carriers and has zero total charge. Mr. Shao, our director, has spent a number of years developing the application of cold plasma for the agriculture industry*.* In 2015, through his own internal testing, he discovered that cold plasma can interact with living organisms (biomolecules), thereby enabling living organisms (biomolecules) to obtain energy. Our process applies radio-frequency lighting supplied by the plasma source in a low-pressure vacuum environment to affect the seeds at the molecular level. As the plant life cycle develops from seed to yield bearing plants, our internal tests have indicated that the plants are healthier, demonstrating superior qualities over conventional, untreated seeds.

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

Although the favorable characteristics of our plasma process have been supported by our own internal testing, the results have not been corroborated by third party, independent tests.

**RESULTS OF OPERATIONS**

For both of the three months ended November 30, 2022 and 2021, we did not recognize any revenues from operations.

For the three months ended November 30, 2022 and 2021, we had a net loss from operations of $7,500 and $22,368 related to administrative expenses which consists primarily of professional fees. The decrease in professional fees for the current quarter is due to the payments related to Company's Form S-1 filing which occurred last fiscal year. We did not have a similar filing during the current fiscal year.

We will continue to explore and advance the potential collaborations with agriculture departments of large universities within the State of Pennsylvania. We are hopeful that these universities will participate in the testing of our technology, which we believe will lead to a prospective client base of larger farmers greenhouses and nurseries in the area and state.

In early 2022, we began collaborating with a Chinese plasma company to apply our technology for the reduction of chemicals and pesticides on herbs and teas grown in China. In addition, in October 2022, the Company entered into an agreement with the Chinese plasma company to further explore the use of the technology for Chinese herbs and teas. Under the agreement, the parties will attempt to mutually agree on the testing protocols and the equipment design for a new plasma plant. If the parties reach an agreement on such plans, the Chinese company will pay the company the sum of $10,000 as an upfront fee. In addition, the Chinese company will pay for all costs associated with the design, assembly and production of the new plasma plant. Once the plant is operational, the Company will be entitled to receive 20% of all service fees received by the Chinese company for the treatment of herbs using the technology.

**Net Loss**

For the three months ended November 30, 2022 and 2021, the Company had a net loss of $7,500 and $22,368, respectively, for the reasons discussed above.

**Liquidity and Capital Resources**

The Company had $75,347 in working capital as of November 30, 2022 compared with $82,773 as of August 31, 2022. The decrease is due to funding the operating loss of the Company for the current quarter.

Our primary uses of cash have been for operations. The main sources of cash have been from the private placement of our common stock. The following trends are reasonably likely to result in a material decrease in our liquidity over the near to long term:

● The need for additional equipment,

● Development of a Company website,

● Increases in advertising and marketing in order to attempt to generate more revenues, and

● The cost of being a public company.

*Cash Flows*

The following is a summary of the Company's cash flows from operating and financing activities for the nine months ended November 30, 2022 and 2021:

---

| | | |
|:---|:---|:---|
|  | Three Month Ended<br>November 30, 2022 | Three Month Ended<br>November 30, 2021 |
| Net Cash Used in Operating Activities | $(5358) | $(11303) |
| Net Cash Used in Investing Activities |  | (1289) |
| Net Change in Cash | $(5358) | $(12480) |

---

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

*Operating Activities*

During the three months ended November 30, 2022, the Company had a net loss of $7,491 and after adjusting for accounts payable increase and depreciation expense net cash used in operating activities was $(5,358). By comparison, during the three months period ended November 30, 2021, the Company had a net loss of $22,368 and after adjusting for prepaid expense and depreciation, net cash used in operating activities of $(11,303) for the period.

 

*Investing Activities*

During the three months ended November 30, 2022, the Company had no investing activities. By comparison, during the three months period ended November 30, 2021, the Company has purchase of property, plant and equipment of $(1,289).

*Cash Used*

 

During the three months ended November 30, 2022 and 2021, the Company has net cash used $5,358 and $12,480, respectively for the reasons discussed above.

**Off-Balance Sheet Arrangements**

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

**Contractual Obligations**

None.

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

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

***Item 4. Controls and Procedures.***

Evaluation of Disclosure Controls and Procedures

In connection with the preparation of this quarterly report, an evaluation was carried out by the Company's management, with the participation of the principal executive officer, of the effectiveness of the Company's disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act ("Exchange Act") as of November 30, 2022. Disclosure controls and procedures are designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the Commission's rules and forms, and that such information is accumulated and communicated to management, including the principal executive officer, to allow timely decisions regarding required disclosures.

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

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**Change in Internal Control over Financial Reporting**

During the quarter ended November 30, 2022, there has been no changes in internal control over financial reporting 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***

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

***Item 1A. Risk Factors***

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

***Item 2. Unregistered Sale of Equity Securities and Use of Proceeds***

None.

***Item 3. Defaults Upon Senior Securities***

None.

***Item 4. Mine Safety Disclosures***

Not applicable to our Company.

***Item 5. Other Information***

None

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

**Item 6. Exhibits.**

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| | |
|:---|:---|
| Exhibit | Description |
| [31.1](plas-20221130_10qex31z1.htm) | [Certification of the Company's Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002\*](plas-20221130_10qex31z1.htm) |
| [32.1](plas-20221130_10qex32z1.htm) | [Certification of the Company's Principal Executive Officer and Principal Financial pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002+](plas-20221130_10qex32z1.htm) |
| 101.INS | XBRL INSTANCE DOCUMENT\* |
| 101.SCH | XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT\* |
| 101.CAL | XBRL TAXONOMY CALCULATION LINKBASE DOCUMENT\* |
| 101.DEF | XBRL TAXONOMY DEFINITION LINKBASE DOCUMENT\* |
| 101.LAB | XBRL TAXONOMY LABEL LINKBASE DOCUMENT\* |
| 101.PRE | XBRL TAXONOMY PRESENTATION LINKBASE DOCUMENT\* |

---

+ In accordance with SEC Release 33-8238, Exhibit 32.1 is being furnished and not filed. <br>\* Filed herewith.

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

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | |
|:---|:---|
| Date: March 17, 2023 | **PLASMA INNOVATIVE INC.** |
|  | /*s/ Zhi Yang* |
|  | Zhi Yang<br> President and CEO<br> (Principal Executive Officer, Principal Financial Officer, and Principal Accounting Officer) |

---

## Exhibit 31.1

**Exhibit 31.1**

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

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

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

I, Zhi Yang, certify that:

1. I have reviewed this report on Form 10-Q of Plasma Innovative Inc.;

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

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

4. As the registrant's sole certifying officer, I 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 registrant and have:

&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 registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

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

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

5. As the registrant's sole certifying officer, I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&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 registrant's ability to record, process, summarize and report financial information; and

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

---

| | |
|:---|:---|
| Date: March 17, 2023 |  |
|  | /s/ *Zhi Yang* |
|  | Zhi Yang<br> President and CEO<br> (Principal Executive Officer, Principal<br> Financial Officer, and Principal Accounting Officer) |

---

## Exhibit 32.1

**Exhibit 32.1**

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

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

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

In connection with the Quarterly Report of Plasma Innovative Inc. (the "Company") on Form 10-Q for the period ended November 30, 2022 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Zhi Yang, certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge and belief:

&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 17, 2023

---

| |
|:---|
| /s/ *Zhi Yang* |
| Zhi Yang |
| President and CEO<br> (Principal Executive Officer, Principal<br> Financial Officer, and Principal Accounting Officer) |

---