EDGAR 10-K Filing

Company CIK: 1393548
Filing Year: 2022
Filename: 1393548_10-K_2022_0001575705-22-000124.json

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ITEM 1. BUSINESS
Item 1. Business
Description of Our Business
Our corporate history
We were incorporated in Nevada on September 30, 2005, and previously operated under the name of Peak Resource Incorporated. In August 2008, we changed our name to “Mine Clearing Corporation”. We had been operating as an exploration division in the mining sector until May 2014. On May 2, 2014, we acquired all of the shares of Clickstream Corporation, a Nevada corporation. Subsequent to the acquisition, we were operating as a data analytics tool developer and had sought to further develop and exploit our data analytics technology and proprietary algorithms. Currently, we are a technology company focused on developing apps and digital platforms that disrupt conventional industries. We’re currently marketing and developing WinQuik, HeyPal, Nifter & Joey’s Animal Kingdom respectively.
The address of our virtual executive office is 8549 Wilshire Blvd., Suite 2181, Beverly Hills, California 90211, and our telephone number is (213) 205-0684.
Overview
Over the last few years, there has been a substantial increase in the availability and quality of applications readily available from sources such as Google Play Store and Apple Play Store for various types of gaming. The initial objective of the Company is to develop apps and digital platforms that disrupt conventional industries. The Company is currently marketing and developing WinQuik™, HeyPal™, Nifter™ and Joeys Animal Kingdon™ respectively. WinQuik™, is a free-to-play synchronized mobile app and digital gaming platform. The platform is designed to enable WinQuik™ users to have fun, interact and compete in order to win real money and prizes. WinQuik™ website is currently under construction as ClickStream considers revamping the Platform to give it a new improved form, structure and appearance. HeyPal™, a unit of our subsidiary Nebula Software Corp., is a language learning app that focuses on “language exchanging” between users around the world. Nifter™, by way of ClickStream subsidiary Rebel Blockchain Inc., is a music NFT marketplace that allows artists to create, sell and discover unique music and sound NFTs on the Nifter™ marketplace. Joey’s Animal Kingdom™ is a children’s entertainment and education app that takes kids all around this amazing planet to see incredible animals and creatures.
In September 2021, the Company acquired approximately 53% of Winners, Inc. (WNRS) which together with its prior holdings gives an approximate 55% interest in the common stock of WNRS. Due to the existence of super-voting preferred stock of WNRS, the Company has a vote of approximately 5%. However, management has concluded that Winners, Inc and its subsidiary VegasWinners, Inc. should be considered as an investment in equity method investee.
Business Plan
The company currently has four product lines.
WinQuik™, is a free-to-play synchronized mobile app and digital gaming platform. The platform is designed to enable WinQuik™ users to have fun, interact and compete in order to win real money and prizes. WinQuik™ website is currently under construction as we consider revamping the platform to give it a new improved form, structure and appeal.
HeyPal™, by way of ClickStream subsidiary Nebula Software Corp., is a language learning app that focuses on “language exchanging” between users around the world. As opposed to quizzes, flash cards and other traditional language studying tools, HeyPal™’s approach to helping its users learn a new language is by matching them together with native speakers of their target language. For example, if User A speaks English, and wants to learn French, HeyPal™ will match the user with User B who speaks fluent French and wishes to learn English. This approach makes the language learning process more fun, engaging, and encourages faster learning speed. HeyPal™ also has many social media features, including posts and media uploading to “language boards”, allowing users to post original content and be immersed completely in the language they are learning. Nebula intends to monetize HeyPal™ by integrating a unique and effective premium subscription model that will allow users to gain access to certain features that will enhance their social language experience. For more information about HeyPal™, please visit website at www. heypalapp.com and social media on Instagram: https://www.instagram.com/heypalapp/ Instagram:
Nifter™
On March 19, 2021, we acquired Rebel Blockchain, Inc., which is the creator of Nifter™, a marketplace for non-fungible tokens on the Ethereum blockchain. At the time of the acquisition, Rebel Blockchain had nominal assets and no operations. The development of the platform will include front-end, back-end and blockchain smart-contract development, and, upon launch, the platform will be “live” for users to access and use the platform It is expected that as of the launch Rebel Blockchain will have no customers or commitments from customers.
Joey’s Animal Kingdom™:
On or about April 14, 2020, we formed Joey’s Animal Kingdom™, a children’s entertainment and education app that takes kids all around this amazing planet to see incredible animals and creatures. WOWEEAPP.COM is not just a place to watch videos and learn about animals, but it has many other features such as live quizzes and games as well as kid profiles and VS games. Joey is a little boy who lives in the jungle with his pet and best friend, Mochi, a chimpanzee. Joey has spent his younger life traveling the world with his parents’ visiting zoos and helping animals all around the world. His passion for animals has now led him to help educate other kids about the amazing planet we live on and all the animals that need our help!
Litigation
We are not engaged in any litigation at the date of this Annual Report. We may be engaged in litigation from time to time in the normal course of business, including claims for injury and damage alleged to be caused by use of our planned products.
Properties
We do not own or lease any offices at this time other than a “virtual office” at the address set forth on the cover page of this Annual Report. We plan to lease general office space sufficient for our current needs and additional needs of additional personnel in the foreseeable future.
Governmental and Industry Regulation
We are subject to federal and state laws and regulations that relate directly or indirectly to our operations, including privacy laws and federal securities laws.
Compliance with Environmental Laws
Our current operations are not subject to any environmental laws.
EMPLOYEES AND HUMAN CAPITAL
We currently have three part-time employees and no full-time employees. Michael Handelman has been appointed our Secretary and Chief Financial Officer, Frank Magliochetti has been appointed our Chief Executive Officer, and Thomas Terwilliger has been appointed our Controller, with each such individual retained on an independent contractor basis. Each of Messrs. Handelman, Magliochetti, and Terwilliger work at their own offices, make their own schedules and work with other clients. Messrs. Handelman, Magliochetti and Terwilliger spend approximately 20 hours per week on our matters with the expectation that Mr. Magliochetti’s and Mr. Handelman’s time commitment will increase as our business grows. However, we do plan to hire a full-time Chief Executive Officer when we have the financial resources to do so.
We have relied and plan on continuing to rely on independent organizations, advisors and consultants to perform certain services for us, including handling substantially all aspects of regulatory approval, product development, marketing, and sales. Such services may not always be available to us on a timely basis or at costs that we can afford. Our future performance will depend in part on our ability to successfully integrate newly hired officers and to engage and retain consultants, as well as our ability to develop an effective working relationship with our management and consultants.

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ITEM 1A. RISK FACTORS
Item 1A. Risk Factors
The following factors, as well as factors described elsewhere in this Form 10-K, or in other filings by the Company with the Securities and Exchange Commission, could adversely affect the Company’s consolidated financial position, results of operations or cash flows. Other factors not presently known to us or that we presently believe are not material could also affect our business operations and financial results.
Risks Relating to our Business Model
Our lack of operating history makes it difficult for you to evaluate the merits of purchasing our common stock.
We are a development-stage enterprise with four product lines. WinQuikTM, our synchronized mobile app and digital gaming platform, is currently being revamped. HeyPalTM, our language learning app, has been launched in several countries. Nifter™, a marketplace for non-fungible tokens, has been publicly launched. Joey’s Animal Kingdom™, a children’s entertainment and education app, is currently under development. Our lack of sales does not provide a sufficient basis for you to assess our business and prospects. You have no assurance we will be able to generate sufficient revenues from our business to reach a break-even level or to become profitable in future periods. Without sufficient revenues, we may be unable to create value in our common stock, to pay dividends and to become a going concern. We are subject to the risks inherent in any new business with a new product in a highly competitive marketplace. You must consider the likelihood of our success in light of the problems, uncertainties, unexpected costs, difficulties, complications and delays frequently encountered in developing and expanding a new business and the competitive environment in which we plan to operate. If we fail to successfully address these risks, our business, financial condition, and results of operations would be materially harmed. Your purchase of our common stock should be considered a high risk investment because of our unseasoned, early stage business which may likely encounter unforeseen costs, expenses, competition, and other problems to which such businesses are often subject.
If we lose key personnel or are unable to attract and retain qualified personnel, our business could be harmed and our ability to compete could be impaired.
Our success will depend to a significant degree upon the contributions of our management team which we will need to build. If we lose the services of one or more of our key members, we may be unable to achieve our business objectives. Additionally, we may be unable to attract and retain personnel with the advanced technical qualifications or managerial experience necessary for the development of our business and planned expansion into areas and activities requiring additional expertise, due to intense competition for qualified personnel among technology-based businesses.
Our results of operations may be negatively impacted by the coronavirus outbreak.
In March 2020, the World Health Organization declared that the rapidly spreading COVID-19 outbreak (the Pandemic”) was a global pandemic. In response, many governments around the world have implemented, and continue to implement a variety of measures to reduce the spread of the Pandemic, including travel restrictions and bans, instructions, or orders to practice social distancing, quarantine advisories, shelter-in-place restrictions and bans and closures of businesses. These measures have materially adversely affected and will further adversely affect consumer sentiment and discretionary spending patterns, economies, and financial markets. Our financial results and prospects are dependent on the sale of services to consumers, and our results subsequent to March 31, 2020 may be significantly and negatively impacted. Due to the uncertain and rapidly evolving nature of conditions around the world, we are unable to predict the impact of the Pandemic on our business going forward.
Risk of expanding operations and management of growth.
We expect to experience rapid growth which will place a significant strain on our financial and managerial resources. In order to achieve and manage growth effectively, we must establish, improve, and expand our operational and financial management capabilities. Moreover, we will need to increase staffing and effectively train, motivate, and manage our employees. Failure to manage growth effectively could harm our business, financial condition, or results of operations.
Operating results may significantly fluctuate from quarter to quarter and year to year.
We expect that a significant portion of our revenues for the foreseeable future will be from sponsorships and advertising as well as subscriptions. The timing of revenue in the future will depend to some extent upon the signing of sponsorship deals and the obtaining of advertising. In any one fiscal quarter we may receive multiple or no payments from our sponsors or advertisers. As a result, operating results may vary substantially from quarter to quarter, and thus from year to year. Revenue for any given period may be greater or less than revenue in the immediately preceding period or in the comparable period of the prior year.
If we are unable to hire qualified personnel, our ability to implement our business strategy and our operating results will likely be materially adversely affected.
Our personnel are now limited to two executive officers. We must hire significant additional numbers of qualified personnel if we are to achieve our business plan. Salary and benefits of such additional personnel can be expected to place significant stress on our financial condition. And the availability of such qualified personnel may be limited. You have no assurance we will be able to attract and retain qualified personnel in sufficient numbers to adequately staff our business operations.
If we are unable to effectively manage our growth, our ability to implement our business strategy and our operating results will likely be materially adversely affected.
Implementation of our business plan will likely place a significant strain on our management who must develop administrative, operating, and financial infrastructures. To manage our business and planned growth effectively, we must successfully develop, implement, maintain, and enhance our financial and accounting systems and controls, identify, hire, and integrate new personnel and manage expanded operations. Our failure to do so could either limit our growth or cause our business to fail.
Because we have only recently introduced our products and services, you have limited information upon which you can evaluate our business.
We have only recently launched our products but not yet generating any revenues. Accordingly, you cannot evaluate our business based on operating history as an indication of our future performance. As a young company in the rapidly evolving online entertainment, education, and social interaction market, we face risks and uncertainties relating to our ability to successfully implement our business plan. These risks include our ability to:
● develop and expand our content and services;
● attract an audience to our Web sites;
● develop strategic relationships; and
● develop and upgrade our technology.
If we are unsuccessful in addressing these risks and uncertainties, we will not be able to successfully implement our business plan and our stock price will decline.
We may fail to meet market expectations because of fluctuations in our quarterly operating results which would cause our stock price to decline.
Our revenues and costs will be difficult to predict. This is likely to result in significant fluctuations in our quarterly results. Because of our lack of operating history, we anticipate that securities analysts and investors will have difficulty in accurately forecasting our results. It is possible that our operating results in some quarters will be below market expectations. In this event, the price of our common stock is likely to decline.
The following are among the factors that could cause significant fluctuations in our operating results:
● the number of users on, and the frequency of their use of, our Web sites;
● our ability to attract and retain advertisers and sponsors;
● the expiration or termination of our strategic relationships;
● system outages, delays in obtaining new equipment or problems with planned upgrades;
● our ability to successfully expand our online entertainment offerings beyond the games and game show sector;
● the introduction of new or enhanced services by us or our competitors;
● changes in our advertising rates or advertising rates in general, both on and off the Internet;
● changes in general economic and market conditions, including seasonal trends, that have an impact on the demand for Internet advertising; and
● The number and frequency of in-app purchases.
We may not be able to adjust our operating expenses in order to offset any unexpected revenue shortfalls.
Our operating expenses will be based on our expectations of our future revenues. We intend to expend significant amounts in the short term, particularly to build brand awareness. We may be unable to adjust spending quickly enough to offset any unexpected revenue shortfall. If we fail to substantially increase our revenues, then our financial condition and results of operations would be materially adversely affected.
If we do not develop and enhance our brand, we will not be able to establish our customer base or build our revenues.
The development of our brand is critical to our ability to establish our user base and build our revenues. In order to attract users and advertisers, we intend to expend funds for creating and maintaining brand loyalty. We plan to use a combination of social media, print and Web-based advertising to promote our brand. If we fail to advertise and market our brand effectively, we will lose users and our revenues will decline.
Our success in promoting and enhancing our brand will also depend on our success in providing high quality content, features and functions that are attractive and entertaining to users of online game shows and multi-player games as well as educational and social interaction. If visitors to our Web sites, users, advertisers, or sponsors do not perceive our services to be of high quality, the value of the brand could be diminished, we will lose users and our revenues will decline.
Our advertising pricing model, which is based partly on the number of advertisements delivered to our users, may not be successful.
Different pricing models are used to sell advertising on the Internet. The models we adopt may prove to not be the most profitable. To the extent that we do not meet the minimum guaranteed impressions that we may be required to deliver to users under our advertising contracts, we defer recognition of the corresponding revenues until we achieve the guaranteed impression levels. To the extent that minimum guaranteed impression levels are not achieved, we may be required to provide additional impressions after the contract term, which would reduce our advertising inventory in subsequent periods.
In addition, since advertising impressions may be delivered to a user’s Web browser without regard to user activity, advertisers may decide that a pricing model based on user activity is preferable. As a result, we cannot accurately project our future advertising rates and revenues. If we are unable to adapt to new forms of Internet advertising or we do not adopt the most profitable form, our advertising revenues could be adversely affected.
We may not be able to track the delivery of advertisements on our network in a way that meets the needs of our advertisers.
It is important to our advertisers that we accurately measure the delivery of advertisements on our network and the demographics of our user base. Companies may choose to not advertise on our Web sites or may pay less for advertising if they do not perceive our ability to track and measure the delivery of advertisements to be reliable. We depend on third parties to provide us with many of these measurement services. If they are unable to provide these services in the future, we would need to perform them ourselves or obtain them from another provider. We could incur significant costs or experience interruptions in our business during the time we are replacing these services. In addition, if successful, legal initiatives related to privacy concerns could also prevent or limit our ability to track advertisements.
Our business may suffer if we have difficulty retaining users on our Web sites.
Our business and financial results are also dependent on our ability to retain users on our Web sites. In any particular month, many of the visitors to our sites may not be registered users and many of our registered users may not visit our sites. We believe that intense competition will cause some of our registered users to seek online entertainment on other sites and spend less time on our sites. It will be relatively easy for our users to go to competing sites and we cannot be certain that any steps we take will maintain or improve our retention of users. In addition, some new users may decide to visit our Web sites out of curiosity regarding the Internet and may later discontinue using Internet entertainment services. If we are unable to retain our user base, the demand for advertising on our Web sites may decrease and our revenues may decline.
We face risks associated with international operations.
We currently plan to operate outside the United States.
Our business internationally will be subject to a number of risks. These include:
● linguistic and cultural differences;
● inconsistent regulations and unexpected changes in regulatory requirements;
● differing technology standards that would affect the quality of the presentation of our games to our users;
● potentially adverse tax consequences;
● wage and price controls;
● political instability and social unrest;
● uncertain demand for electronic commerce;
● uncertain protection of our intellectual property rights; and
● imposition of trade barriers.
We have no control over many of these matters and any of them may adversely affect our ability to conduct our business internationally.
Currency fluctuations and exchange control regulations may adversely affect our business.
Our reporting currency is the United States dollar. Our customers outside the United States, however, will be generally billed in local currencies. Our accounts receivable from these customers and overhead assets will decline in value if the local currencies depreciate relative to the United States dollar. Although we may enter into hedging transactions, we may not be able to do so effectively. In addition, any currency exchange losses that we suffer may be magnified if we become subject to exchange control regulations restricting our ability to convert local currencies into United States dollars.
Competition in the online entertainment, education and social interaction industry are intense and a failure to adequately respond to competitive pressure could result in lower revenues.
There are many companies that provide Web sites and online destinations targeted to audiences seeking various forms of entertainment, education, and social interaction content. All of these companies will compete with us for visitor traffic, advertising dollars and sponsorships. This competition is intense and is expected to increase significantly in the future as the number of entertainment- education and social interaction oriented Web sites continue to grow. Our success will be largely dependent upon the perceived value of our content relative to other available entertainment alternatives, both online and elsewhere.
Increased competition could result in:
● lower profit margins;
● lower advertising or sponsorship rates;
● loss of visitors or visitors spending less time on our sites;
● reduced page views or advertising impressions; and
● loss of market share.
Many of our potential competitors, in comparison to us, have:
● longer operating histories;
● greater name recognition in some markets;
● larger customer bases; and
● significantly greater financial, technical, and marketing resources.
These competitors may also be able to:
● undertake more extensive marketing campaigns for their brands and services;
● adopt more aggressive advertising pricing policies;
● use superior technology platforms to deliver their products and services; and
● make more attractive offers to potential employees, distribution partners, sponsors, advertisers, and third-party content providers.
Our plans to expand our entertainment education and social interaction businesses beyond our core game show sites and education-social interaction platform may not be successful.
We cannot predict whether we will be able to successfully expand into online entertainment, education, and social interaction businesses other than as set forth in our business plan described below. Expanding our business will require us to expend significant amounts of capital to be able to contend with competitors that have more experience than we do in these businesses and may also have greater resources to devote to these businesses. Also, our management may have to divert a disproportionate amount of its attention away from our day-to-day core business and devote a substantial amount of time expanding into new areas. If we are unable to effectively expand our business or manage any such expansion, our financial results will suffer, and our stock price will decline.
If we are not able to adapt as Internet technologies and customer demands continue to evolve, we may become less competitive, and our business will suffer.
We must adapt to rapidly evolving Internet technologies by continually enhancing our existing services and introducing new services to address our customers’ changing demands. We expect to incur substantial costs in modifying our services and infrastructure and in recruiting and hiring experienced technology personnel to adapt to changing technology affecting providers of Internet services. If we cannot hire the necessary personnel or adapt to these changes in a timely manner or at all, we will not be able to meet our users’ demands for increasingly sophisticated entertainment and we will become less competitive. As a result, our revenues would decline, and our business will suffer.
Changes in government regulation could adversely affect our business.
Changes in the legal and regulatory environment that pertains to the Internet could result in a decrease in our revenues and an increase in our costs. New laws and regulations may be adopted. Existing laws may be applied to the Internet and new forms of electronic commerce. New and existing laws may cover issues like:
● sales and other taxes;
● pricing controls;
● characteristics and quality of products and services;
● consumer protection;
● cross-border commerce;
● libel and defamation; and
● copyright, trademark, and patent infringement.
Customer uncertainty and new regulations could increase our costs and prevent us from delivering our products and services over the Internet. It could also slow the growth of the Internet significantly. This could delay growth in demand for our products and limit the growth of our revenues.
Our games and game shows are subject to gaming regulations that are subject to differing interpretations and legislative and regulatory changes that could adversely affect our ability to grow our business.
We operate online games of skill and chance that are regulated in many jurisdictions and, in connection therewith, we will reward prizes to the participants. The selection of prize winners is sometimes based on chance, although none of our games requires any form of monetary payment. The laws and regulations that govern our games, however, are subject to differing interpretations in each jurisdiction and are subject to legislative and regulatory change in any of the jurisdictions in which we offer our games. If such changes were to happen, we may find it necessary to eliminate, modify or cancel components of our products that could result in additional development costs and the possible loss of revenue.
User concerns and government regulations regarding privacy may result in a reduction in our user traffic.
Web sites sometimes place identifying data, or cookies, on a user’s hard drive without the user’s knowledge or consent. Our company and many other Internet companies use cookies for a variety of different reasons, including the collection of data derived from the user’s Internet activity. Any reduction or limitation in the use of cookies could limit the effectiveness of our sales and marketing efforts. Most currently available Web browsers allow users to remove cookies at any time or to prevent cookies from being stored on their hard drive. In addition, some privacy advocates and governmental bodies have suggested limiting or eliminating the use of cookies. For example, the European Union and the State of California recently adopted privacy regulations that would limit the collection and use of information regarding Internet users. These efforts will limit our ability to target advertising or collect and use information regarding the use of our Web sites, which would reduce our revenues. Fears relating to a lack of privacy could also result in a reduction in the number of our users.
We may be liable for the content we make available on the Internet.
We plan to make content available on our Web sites and on the Web sites of our advertisers and distribution partners. The availability of this content could result in claims against us based on a variety of theories, including defamation, obscenity, negligence, copyright, or trademark infringement. We could also be exposed to liability for third-party content accessed through the links from our sites to other Web sites. We may incur costs to defend ourselves against even baseless claims and our financial condition could be materially adversely affected if we are found liable for information that we make available. Implementing measures to reduce our exposure to this liability may require us to spend substantial resources and limit the attractiveness of our service to users.
The technical performance of our Web sites will be critical to our business and to our reputation.
The computer systems that will support our Web sites will be acquired and maintained by us at significant expense. We may not be able to successfully design and maintain our systems in the future. We also will license communications infrastructure software. Any system failure, including network, software, or hardware failure, that causes an interruption in our service or a decrease in responsiveness of our Web sites, could result in reduced user traffic and reduced revenue. We may experience slower response times and interruptions in service because of equipment or software down time related to the high volume of traffic on our Web sites and our need to deliver frequently updated information to our users. We cannot assure you that we will be able to expand our systems to adequately accommodate our growing user base. We could also be affected by computer viruses, electronic break-ins from unauthorized users, or other similar disruptions or attempts to penetrate our online security systems. Any secure provider system disruption or failure, security breach or other damage that interrupts or delays our operations could harm our reputation and cause us to lose users, advertisers and sponsors and adversely affect our business and operations.
Our users will depend on Internet service providers, online service providers and other Web site operators for access to our Web sites. These providers have had interruptions in their services for hours and, in some cases, days, due to system failures unrelated to our systems. Any future interruptions would be beyond our control to prevent and could harm our reputation and adversely affect our business.
We may be unable to protect our intellectual property rights and we may be liable for infringing the intellectual property rights of others.
We do not currently maintain patents on our technology and others may be able to develop similar technologies in the future. We regard our copyrights, service marks, trademarks, trade secrets and other intellectual property that we will develop as critical to our success. We will rely on trademark and copyright law, trade secret protection and confidentiality and license agreements with our employees, customers, partners, and others to protect our intellectual property rights. Unauthorized use of our intellectual property by third parties may adversely affect our business and our reputation. It may be possible for third parties to obtain and use our intellectual property without authorization. Furthermore, the validity, enforceability, and scope of protection of intellectual property in Internet-related industries is uncertain and still evolving. Our multi-user games will run on proprietary software systems developed by us at significant expense. Nonetheless, we do not plan to maintain patents on our technology and others may be able to develop similar technologies in the future.
We cannot be certain that our products will not infringe valid patents, copyrights, trademarks, or other intellectual property rights held by third parties. We may be subject to legal proceedings and claims from time to time relating to the intellectual property of others in the ordinary course of our business. Disputes concerning the ownership of rights to use intellectual property could be costly and time consuming to litigate, may distract management from other tasks of operating our business, and may result in our loss of significant rights and the loss of our ability to effectively operate our business.
Risks relating to our Capital Structure and Potential Management Conflicts
Our charter documents and Nevada law may inhibit a takeover that stockholders may consider favorable.
Provisions in our charter and bylaws may have the effect of delaying or preventing a change of control or changes in our management that stockholders consider favorable or beneficial. If a change of control or change in management is delayed or prevented, the market price of our common stock could decline.
We do not plan to pay dividends in the foreseeable future, and, as a result, stockholders will need to sell shares to realize a return on their investment.
We have not declared or paid any cash dividends on our capital stock since inception. We intend to retain any future earnings to finance the operation and expansion of our business and do not anticipate paying any cash dividends in the foreseeable future. Consequently, you will need to sell your shares of common stock in order to realize a return on your investment and you may not be able to sell your shares at or above the price you paid for them.
Our Series A Convertible Preferred Stock contains Anti-Dilution Protection and Super Voting Rights
The holders of our Series A Convertible Preferred Stock have anti-dilution rights protecting their interest in the company from the issuance of any additional shares of capital stock for a two year period following conversion of the Preferred Common Stock calculated at the rate of 80% on a fully diluted basis. The anti-dilution provision may have the effect of making it more difficult for the Company to raise funds for the period that such provision is in effect. Additionally, we have 4,000,000 shares of our Series A Preferred Stock outstanding with each share of Preferred Stock entitled to vote on the basis of 100 times each share of our common stock. Based on 307,785,338 shares of common stock currently outstanding, the holders of our Series A Preferred Stock have the power to control the vote on all matters submitted to a vote of our stockholders including for election of directors.
We will need to raise additional capital that may not be available on acceptable terms.
We will require substantial additional capital over the next several years in order to implement our business plan. We expect capital outlays and operating expenditures to increase as we expand our product offerings and marketing activities. Our business or operations may change in a manner that would consume available funds more rapidly than anticipated, and substantial additional funding may be required to maintain operations, fund expansion, develop new or enhanced products or services, acquire complementary products, businesses or technologies, or otherwise respond to competitive pressures and opportunities.
We plan to raise additional capital through a variety of sources, including the public equity markets, additional private equity financings, collaborative arrangements and/or private debt financings. Additional capital may not be available on terms acceptable to us, if at all. If additional capital is raised through the issuance of equity securities, our stockholders will experience dilution, and such securities may have rights, preferences, or privileges senior to those of the holders of our common stock. If we raise additional capital through the issuance of debt securities, the debt securities would have rights, preferences, and privileges senior to holders of common stock, and the terms of that debt could impose restrictions on our operations.
We note that there is significant uncertainty from the affect that the novel coronavirus may have on the availability, cost, and type of financing.
If you invest in our stock, your investment may be disadvantaged by future funding, if we are able to obtain it.
To the extent we obtain funding by issuance of common stock or securities convertible into common stock, you may suffer significant dilution in percentage of ownership and, if such issuances are below the then value of stockholder equity, in stockholder equity per share. In addition, any debt financing we may secure could involve restrictive covenants relating to our capital raising activities and other financial and operational matters, which may make it more difficult for us to obtain additional capital with which to pursue our business plan, and to pay dividends. You have no assurance we will be able to obtain any additional financing on terms favorable to us, if at all.
The trading in our shares will be regulated by the Securities and Exchange Commission Rule 15G-9 which established the definition of a “Penny Stock.”
You have no assurance our common stock will trade at prices above historic levels and price needed to put it above the “penny stock” level, notwithstanding an offering price above that level. Based on the historic trading prices of our common stock and the market in which it trades, our shares are defined as a penny stock under the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), and rules of the SEC. The Exchange Act and penny stock rules generally impose additional sales practice and disclosure requirements on broker-dealers who sell our securities to persons other than certain accredited investors who are, generally, institutions with assets in excess of $4,000,000 or individuals with net worth in excess of $1,000,000 or annual income exceeding $200,000 ($300,000 jointly with spouse), or in transactions not recommended by the broker-dealer. For transactions covered by the penny stock rules, a broker dealer must make certain mandated disclosures in penny stock transactions, including the actual sale or purchase price and actual bid and offer quotations, the compensation to be received by the broker-dealer and certain associated persons, and must deliver certain disclosures required by the Commission. Consequently, the penny stock rules may make it difficult for you to resell any shares you may purchase.
Certain of our officers and directors may have potential conflicts of interest.
Several of our officers and directors are also directors of Winners, Inc. See “Related Party Transactions” on page 28. Both our company and Winners, Inc. are currently engaged in offerings pursuant to Regulation A. We do not believe that this overlap presents or will present a practical conflict of interest since our Chief Executive Officer, Frank Magliochetti, who is actively involved in our offering is only a director and consultant of Winners, Inc. and is not actively involved in the Regulation A offering of Winners, Inc.
IN ADDITION TO THE ABOVE RISKS, BUSINESSES ARE OFTEN SUBJECT TO RISKS NOT FORESEEN OR FULLY APPRECIATED BY OUR MANAGEMENT. IN REVIEWING THIS PROSPECTUS, POTENTIAL INVESTORS SHOULD KEEP IN MIND THAT THERE MAY BE OTHER POSSIBLE RISKS THAT COULD BE IMPORTANT.

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ITEM 1B. UNRESOLVED STAFF COMMENTS
Item 1B. Unresolved Staff Comments
None.

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ITEM 2. PROPERTIES
Item 2. Properties
We do not own or lease any offices at this time other than a “virtual office” at the address set forth on the cover page of this Form 10-K. Subject to available capital, we plan to lease general office space sufficient for our current needs and the needs of additional personnel in the foreseeable future.

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ITEM 3. LEGAL PROCEEDINGS
Item 3. Legal Proceedings
As of the date hereof, we are not engaged in any litigation.

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ITEM 4. MINE SAFETY DISCLOSURE
Item 4. Mine Safety Disclosures
Not applicable.
PART II

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ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities
Market
Our common stock trades over-the-counter and is quoted on the OTC Pink Current Market under the symbol “CLIS.” The table below sets forth the high and low bid prices for our common stock as reflected on the OTC Markets under the symbol “CLIS”. Quotations represent prices between dealers, do not include retail markups, markdowns or commissions, and do not necessarily represent prices at which actual transactions were affected. There is a limited public trading market for our securities.
Common Stock
High Low
Fiscal Year 2020
First Quarter $ 0.01 $ 0.0026
Second Quarter $ 0.034 $ 0.0026
Third Quarter $ 0.2399 $ 0.012
Fourth Quarter $ 0.119 $ 0.0501
Fiscal Year 2021
First Quarter $ 0.0499 $ 0.0128
Second Quarter $ 0.4795 $ 0.0235
Third Quarter $ 0.2395 $ 0.12
Fourth Quarter $ 0.1769 $ 0.08
Holders
As of January 15, 2022, there are approximately 141 record holders of 307,785,338 shares of Common Stock. This number does not include the stockholders for whom shares are held in a “nominee” or “street” name.
Dividends
To date, we have paid no cash dividends on our Common Stock. For the foreseeable future, earnings generated from our operations will be retained for use in our business and not to pay dividends.
Repurchases of Equity Securities
None
Recent Sales of Unregistered Securities
Subsequent to September 30, 2021, the Company issued a total of 6,797,534 shares of common stock to consultants with a fair value of $436,000 for services rendered. The common shares issued were valued at the trading price at the respective date of issuances.
Subsequent to September 30, 2021, the Company issued a total of 20,000,000 shares of common stock in a private placement offering for cash proceeds of $1,000,000.
On October 14, 2021, the Company issued a total of 1,550,000 shares of common stock to settle debts of $9,000. The	common shares issued were valued at the trading price of $0.07 at the respective date of issuance and the Company will recognize a loss on the settlement of $100,000.
Securities Authorized for Issuance under Equity Compensation Plans
None

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ITEM 6. SELECTED FINANCIAL DATA
Item 6. Selected Financial Data
Not applicable.

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ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Overview
We have built (1) a free-to-play synchronized mobile app and digital gaming platform. The platform is designed to enable WinQuik™ users to have fun, interact and compete in order to win real money and prizes and (2) a language learning app that focuses on “language exchanging” between users around the world. As opposed to quizzes, flash cards and other traditional language studying tools, HeyPal™’s approach to helping its users learn a new language is by matching them together with native speakers of their target language. The platforms support iOS and Android platforms and web and built dynamically so it can expand quickly. (3) Nifter™ is a marketplace for non-fungible tokens on the Ethereum Blockchain. (4) Joey’s Animal Kingdom™ is a children’s entertainment and education app.
Results of Operations-Comparison of the Years Ended September 30, 2021 and 2020
Research and Development Expenses
During the years ended September 30, 2021 and 2020, we incurred $692,000 and $302,000 million of research and development expenses, respectively. An increase of $390,000. This increase is mainly due to the research and development expenses incurred for the HeyPal™ app and Nifter™ music NFT. In December 2020, the Company acquired Nebula Software Corp. owner of HeyPal™. In March 2021, and the Company acquired Rebel Blockchain, Inc. the owner Nifter™ Music NFT Marketplace. Nebula incurred $518,000 during 2021 and Rebel Blockchain incurred $119,000 during 2021. This increase of $637,000 was offset by a reduction in Clickstream Corp of $247,000 which incurred $55,000 during 2021 as compared to $302,000 during 2020 as the WinQuick app went live.
Selling, general and administrative expenses
During the years ended September 30, 2021 and 2020, we incurred $6,527,000 and $1,697,000 million of selling, general and administrative expenses, respectively. An increase of $4,830,000. Stock based compensation and stock based contingent consideration for 2021 was $2,591,398 as compared to $777,000 for 2020. Additional selling, general, and administrative expenses in 2021 were due to increased spending on investor relations campaigns to broaden awareness of the Company, additional spending on sales and marketing, additional spending on consulting costs and increased legal costs primarily associated with regulatory and financing efforts as well as expenses from the acquisition of Nebula Software Corp. and Rebel Blockchain, Inc.
Loss on impairment
During the year ended September 30, 2021, the Company recorded an impairment loss of $128,000 related to the Nebula Software acquired intangible asset. There was no such impairment loss in the year ended September 30, 2020.
Amortization of debt discount
Amortization of debt discount was $375,000 and $165,000 for the years ended September 30, 2021 and 2020, respectively. The increase is due to an increase in non-cash amortization of debt issuance costs associated with convertible debentures the year ended September 30, 2021.
Interest Income
During the year ended September 30, 2021, the Company recorded interest income receivable of $41,000 from the notes receivable - Winners, Inc. There was no such interest income accrued in the year ended September 30, 2020.
Liquidity and Capital Resources
As of September 30, 2021, we had cash of $422,000. The Company’s current operations have focused on business planning, raising capital, continued research and development and sales and marketing. The Company has not generated any revenue from product sales. The Company has sustained operating losses since inception and expects such losses to continue over the foreseeable future. During the year ended September 30, 2021, the Company raised $1.5 million net of $375,000 original issue discounts through a series of issuances of convertible debentures. During 2021 $125,000 was repaid and $1,750,000 was converted to common stock in our Regulation A offering. We anticipate that cash utilized for selling, general, and administrative expenses will range between $1 and $2 million in the coming quarters, while research and development expenses will continue. The Company is pursuing several alternatives to address this situation, including the raising of additional funding through equity or debt financings. In order to finance existing operations and pay current liabilities over the next twelve months, the Company will need to raise an additional $5 million of capital in 2022.
Application of Critical Accounting Policies
We believe that our critical accounting policies are as follows:
● Research and Development Costs;
● Stock Based Compensation;
● Fair Value of Financial Instruments
● Equity Method Investments
● Asset Acquisitions
Research and Development Costs
Research and development costs consist of expenditures for the research and development of new products and technology. These costs are primarily expenses to vendors contracted to perform research projects and develop technology for the Company’s mobile gaming applications. Costs incurred for research and development are expensed as incurred.
Stock-Based Compensation
We account for our stock-based compensation to employees and non-employees under ASC 718 “Compensation - Stock Compensation” using the fair value-based method. Under this method, compensation cost is measured at the grant date based on the value of the award and is recognized over the requisite service period, which is usually the vesting period. This guidance establishes standards for the accounting for transactions in which an entity exchanges it equity instruments for goods or services. It also addresses transactions in which an entity incurs liabilities in exchange for goods or services that are based on the fair value of the entity’s equity instruments or that may be settled by the issuance of those equity instruments.
Fair Value Measurements
We use fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. We base our fair values on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, from time to time, we may be required to record certain assets at fair value on a non-recurring basis, such as certain impaired loans held for investment and securities held to maturity that are other-than-temporarily impaired or goodwill. These non-recurring fair value adjustments typically involve write-downs of individual assets due to application of lower-of-cost or market accounting or other accounting standards.
We have established and documented a process for determining fair value. We maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements. Whenever there is no readily available market data, management uses its best estimate and assumptions in determining fair value, but these estimates involve inherent uncertainties and the application of management’s judgment. As a result, if other assumptions had been used, our recorded earnings or disclosures could have been materially different from those reflected in these financial statements. For detailed information on our use of fair value measurements and our related valuation methodologies, see Note 2 to the Consolidated Financial Statements of this report.
Equity Method Investment
The equity method is applied to investments in affiliated companies and joint ventures. An affiliated company is an entity which is not controlled by the Company but for which the Company is able to exert significant influence over the decisions on financial and operating business policies. If the Company has 20% or more but not more than 50% of the voting rights of another entity, the Company is presumed to have significant influence over that entity however, if a company has less than 20% of the voting rights and is able to exert significant influence the equity method should be applied. Under the equity method, the investment in an affiliated company or joint venture is initially recognized at cost and the carrying amount is increased or decreased to recognize the Company’s share of the net income or loss of the affiliated company or joint venture. When the Company’s share of losses of an affiliated company equals or exceeds it interest in the affiliated company or joint venture, the Company discontinues recognizing its share of further losses. All intercompany profits have been eliminated in proportion to interests in affiliated companies or joint ventures.
Asset Acquisitions
The Company accounts for acquisitions of legal entities that do not meet the definition of a business under ASC 805 as asset acquisitions. Assets acquired and liabilities assumed are recorded at their relative fair value and no goodwill is recorded. Contingent consideration for assets acquired is measured and is recognized as an expense on the date the contingency occurs.
Recently Issued Accounting Standards
See discussion in Note 2 to the consolidated financial statements.
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.

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ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Item 7A. Quantitative and Qualitative Disclosures about Market Risk
Not applicable.

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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Item 8. Financial Statements and Supplementary Data
The financial statements and supplementary data required by Regulation S-X are included in Item 15. “Exhibits, Financial Statements Schedules” contained in Part IV, Item 15 of this Annual Report.

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ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Effective November 8, 2021, Weinberg & Company, P.A. (“Weinberg”) resigned as the Company’s independent Registered Public Accounting Firm. During the Company’s fiscal years ended September 30, 2020 and 2019, and through November 8, 2021: (i) there were no disagreements between the Company and Weinberg on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to Weinberg’s satisfaction, would have caused it to make reference to the subject matter of the disagreements in connection with any reports on the financial statements for such years; and (ii) there were no reportable events as defined in Item 304(a)(1)(v) of Regulation S-K. Effective November 11, 2021, the Company’s Board of Directors approved the appointment of Salberg & Company, P.A. to serve as the Company’s independent registered accounting firm for the fiscal year ended September 30, 2021.

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ITEM 9A. CONTROLS AND PROCEDURES
Item 9A. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
Under the supervision and with the participation of our management, including our Chief Financial Officer and Chief Executive Officer, we evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (Exchange Act)) as of December 31, 2020. Based upon that evaluation, our Chief Financial Officer and Chief Executive Officer concluded that as of December 31, 2021, our disclosure controls and procedures were not effective due to material weaknesses in our internal controls over financial reporting as discussed below.
Management’s Annual Report on Internal Control over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Securities Exchange Act of 1934 as a process designed by, or under the supervision of, the company’s principal executive officers and effected by the company’s board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP and includes those policies and procedures that:
● Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the company;
● Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles generally accepted in the United States of America and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and
● Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company’s assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Because of the inherent limitations of internal control, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk.
As of September 30, 2021, management assessed the effectiveness of our internal control over financial reporting and based on that assessment, we identified material weaknesses in internal controls over financial reporting as of September 30, 2021 as further described below.
A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis.
Management did not properly analyze expenses and cash disbursements before and after year-end to determine the proper cutoff as to prepaid assets and accrued liabilities.
We have insufficient staffing for the preparation and review procedures of the Company’s financial statements and required SEC filings. We have a lack of technical skills in certain US GAAP matters which analyses had to be outsourced. During the year ended September 30, 2021, we had limited personnel that performed nearly all aspects of our financial reporting process, including, but not limited to, access to the underlying accounting records and systems, the ability to post and record journal entries and responsibility for the preparation of the financial statements.
Changes in Internal Control over Financial Reporting
There were no changes in our internal control over financial reporting that occurred during the year ended September 30, 2021 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
This annual report does not include an attestation report of the Company’s independent registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by the Company’s independent registered accounting firm pursuant to rules of the Securities and Exchange Commission that permit the Company to provide only management’s report in this annual report.

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ITEM 9B. OTHER INFORMATION
Item 9B. Other Information
None.
Part III

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ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
Item 10. Directors, Executive Officers and Corporate Governance
Information about our directors and executive officers is set forth in the following table. The address of our directors and executive officers is our address. We do not have any employees, other than our directors and executive officers.
NAME
AGE
POSITION
Frank Magliochetti
Chairman and Chief Executive Officer
Michael Handelman
Secretary and Chief Financial Officer
Thomas Terwilliger
Controller and Director
Michael O’Hara
Director
Our stockholders elect our directors. Our directors serve terms of one year and are generally elected at each annual stockholder meeting; provided, that you have no assurance we will hold a stockholders’ meeting annually. Each director will remain in office until his successor is elected and qualified, or his/her earlier resignation. We believe that Mr. O’Hara will be deemed an independent director using the definition of independence contained in the NASDAQ listing rules. Our executive officers are elected by the board of directors and their terms of office are at the discretion of the board of directors, subject to terms and conditions of their respective employment agreements, if any. We have the authority under Nevada law and our bylaws to indemnify our directors and officers against certain liabilities. We have been informed by the U.S. Securities and Exchange Commission that indemnification against violations of federal securities law is against public policy and therefore unenforceable.
The biographies of our officers and directors are as follows:
Frank Magliochetti - Chairman of the Board and Chief Executive Officer, obtained a B.S. in Pharmacy from Northeastern University and entered the Masters of Toxicology program where he worked on the effects of Valium and its metabolism while taking Tagamet for the condition of anxiety induced ulcers. Frank later received his MBA from The Sawyer School of Business at Suffolk University specializing in corporate finance, completed the Advanced Management Program at Harvard Business School and the General Management Program at Stanford Business School. Frank is finishing his PhD dissertation defense in Divinity from Northwestern Seminary. Since August 2021, he has served as CEO and Director of Emergent Health Corporation, a public company engaged in the discovery, development and marketing of Regenerative Medicine products. Since August 2020, he has served as a director of Winners Inc., a public company engaged in handicapping sports events. From June 2019 to the present, Frank has been Chairman and CEO of Designer Genomics International, Inc., a biotech company. From January 2019 to the present, Frank has been Chairman of Grace Health Technology Inc., a company offering enterprise solutions for the laboratory. From 2002 to the present, Frank has been the managing partner of Parcae Capital Corp, which provides advice on financial restructuring and interim management. From 2000 to the present, Frank has been Chairman of Rehab Medical Holdings, an orthopedic medical device company.
Michael J. O’Hara - Director, has been involved in the field of technology since 1978 with over 30 years of industry experience managing organizations small and large. Michael worked at Lockheed Martin from 2002 through 2014 serving as Systems Engineering Director for two major national defense satellite programs and prior to that as Program Director for a low earth orbit weather satellite system which supports our military and civilian weather predictions. Prior to Lockheed, Michael worked with tech start-ups, serving as Vice President of Business Development at eSat and Vice President of Technical Operations at NetCurrents. From 2000 to 2002. From 1984 through 2000 Michael was with Hughes Aircraft Company (now Boeing) in various technical and management positions. Michael’s final assignment at Hughes was as Chief Systems Engineer for a joint NOAA/NASA/DoD program. During the past five years, Michael has been retired. Michael holds a BS in Physics (Magna Cum Laude) from the University of Massachusetts, MS in Physics from the University of Illinois, and MS in Computer Science from the University of Illinois.
Michael Handelman - Secretary and Chief Financial Officer, has served as our Chief Financial Officer since December 1, 2021, and previously Comptroller since January 2021. Since August 2020, he has served as a director of Winners Inc., a public company engaged in handicapping sports events. From November 2020 to November 2021, Mr. Handelman served as the Chief Financial Officer of GT Biopharma, a publicly held biotechnology company. Mr. Handelman served as Chief Financial Officer to Lion Biotechnologies, Inc. from February 2011 until June 2015 and was a member of the Lion Bio Board of Directors from February 2013 until May 2013. Mr. Handelman served as the Chief Financial Officer and as a financial management consultant of Oxis International, Inc., a public company engaged in the research, development, and commercialization of nutraceutical products, from August 2009 until October 2011. From November 2004 to July 2009, Mr. Handelman served as Chief Financial Officer and Chief Operating Officer of TechnoConcepts, Inc., formerly a public company engaged in designing, developing, manufacturing, and marketing wireless communications semiconductors, or microchips. Prior thereto, Mr. Handelman served from October 2002 to October 2004 as Chief Financial Officer of Interglobal Waste Management, Inc., a manufacturing company, and from July 1996 to July 1999 as Vice President and Chief Financial Officer of Janex International, Inc., a children’s toy manufacturer. Mr. Handelman was also the Chief Financial Officer from 1993 to 1996 of the Los Angeles Kings, a National Hockey League franchise. Mr. Handelman is a certified public accountant and holds a degree in accounting from the City University of New York.
Thomas Terwilliger - Mr. Terwilliger became an Officer and Director of the Company in September, 2021. Mr. Terwilliger holds a BBA, MBA, several patents, and was the founder of what has become Winners, Inc. Mr. Terwilliger founded numerous communications companies in the US, and in Latin and Central America. Mr. Terwilliger was elected president of the Kentucky Long Distance Telephone Association and eventually with a Presidential Appointment, for seven years, helped oversee the breakup of AT&T. Mr. Terwilliger also founded and operated both private and publicly traded companies. For at least the past five years, he has owned and operated Corporate World, Inc., which is a resident agent in several states and acts as an incubator for start-up companies in technologies.
Family Relationships
None.
Board of Directors and Corporate Governance
Our Board of Directors currently consists of three (3) members, consisting of Frank Magliochetti, Michael O’Hara and Thomas Terwilliger.
Board Committees; Meetings
Because of the Company’s development stage and limited resources, our Board of Directors has not appointed any committees, including an audit committee, but rather the role of any such committee is performed by the Board of Directors. The Board of Directors met or acted by written consent 13 times during the fiscal year ended September 30, 2021.
Code of Ethics
The Company has adopted a formal code of ethics within the meaning of Item 406 of Regulation S-K promulgated under the Securities Act.
Section 16(a) Beneficial Ownership Reporting Compliance
Section 16(a) of the Exchange Act requires the Company’s directors and executive officers, and persons who own more than ten percent of a registered class of the Company’s equity securities, to file with the SEC initial reports of ownership and reports of changes in ownership of Common Stock and other equity securities of the Company. Officers, directors and greater than ten percent stockholders are required by SEC regulation to furnish the Company with copies of all Section 16(a) forms they file.
The Company has recently only become a reporting company. Messrs. Magliochetti, Handelman and Terwilliger have each filed a Form 3 with the SEC.
Indemnification Agreements
Our Board has approved a form of indemnification agreement for our directors, executive officers and other persons (“Indemnification Agreement”). Following Board approval, we entered into Indemnification Agreements with each of our current directors, executive officers and other persons.
The Indemnification Agreement provides for indemnification against expenses, judgments, fines and penalties actually and reasonably incurred by an indemnitee in connection with threatened, pending or completed actions, suits or other proceedings, subject to certain limitations. The Indemnification Agreement also provides for the advancement of expenses in connection with a proceeding prior to a final, non-appealable judgment or other adjudication, provided that the indemnitee provides an undertaking to repay to us any amounts advanced if the indemnitee is ultimately found not to be entitled to indemnification by us. The Indemnification Agreement sets forth procedures for making and responding to a request for indemnification or advancement of expenses, as well as dispute resolution procedures that will apply to any dispute between us and an indemnitee arising under the Indemnification Agreement.

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ITEM 11. EXECUTIVE COMPENSATION
Item 11. Executive Compensation
Summary Compensation Table - Officers
Name and Principal Position
Year
Cash Compensation
Total
Frank Magliochetti,
$ 297,996
$ 279,996
Chief Executive Officer
$ 101,000
$ 101,000
Michael Handelman,
$ 25,500
$ 25,500
Chief Financial Officer
$ 55,000
$ 55,000
Amber Theoharis(1),
$ 103,700
$ 103,700
Former Vice President of Program Development
$ 55,000
$ 55,000
Thomas Terwilliger,
$ 3,500
$ 3,500
Controller
$
$
(1) Ms. Theoharis’ contract ended December 31, 2021.
Director Compensation (exclusive of consulting arrangements)
Name Fees Earned or Paid in Cash Total
Frank Magliochetti $ 20,004 $ 20,004
Michael Handelman $ 0 $ 0
Michael O’Hara $ 26,004 $ 26,004
Thomas Terwilliger $ 2,000 2,000
Nicholas Panza (former director) $ 15,003 $ 15,003
Ryan Smollar (former director) $ 6,501 $ 6.501
No director or officer received a grant of an equity award during or with respect to 2020 and 2021 nor is any grant outstanding.
Contracts with Directors and Officers
We currently have agreements dated as of December 24, 2019 with Frank Magliochetti, and Michael O’Hara, our directors, pursuant to which each of them has agreed to serve as a director for $1,667 and $2,167 per month, respectively, with respect to services performed as directors subject to our reimbursing them for reasonable out-of-pocket expense incurred in connection with the performance of their duties. In addition, we have an agreement with Thomas Terwilliger pursuant to which he has agreed to serve as a director for $2,000 per month with respect to services performed as a director subject to our reimbursing him for reasonable out-of-pocket expense incurred in connection with the performance of his duties. The term as a director is until they are removed by our stockholders, they resign, or commit certain type of crimes.
As of December 24, 2019, we had entered into a Consulting Agreement with Parcae Capital Corporation, a company affiliated with Frank Magliochetti, our Chairman of the Board and Chief Executive Officer, pursuant to which Parcae has agreed to provide strategic and business development assistance to us for an initial period of three years for $5,000 per month. We have executed an addendum to the Consulting Agreement effective March 1, 2021, Parcae shall be compensated $23,333 per month.
We have entered into a Consulting Agreement with Thomas Terwilliger, effective September 1, 2021, to provide services as our Controller. The agreement is for a term of three years. The Agreement is exclusive, subject to certain specified exceptions. Mr. Terwilliger is to be paid $ $3,500 in cash on a monthly basis.
We have entered into an Officer Agreement with Michael Handelman, effective December 1, 2021, to provide interim services as our Chief Financial Officer. The agreement is for a term of one year with automatic renewals for successive one-year periods, unless terminated prior to the beginning of an applicable renewal term. The Agreement is exclusive, subject to certain specified exceptions. Mr. Handelman is to be paid $2,000 worth of restricted shares each month and $4,000 in cash on a monthly basis.

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ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
The following table sets forth information with respect to the beneficial ownership of the Company’s Common Stock as of January 15, 2022, by each person or group of affiliated persons known to the Company to beneficially own 5% or more of its Common Stock, each director, each named executive officer, and all of its directors and named executive officers as a group.
Our principal stockholders are set forth in the following table. These principal stockholders include:
● each of our directors and executive officers,
● our directors and executive officers as a group, and
● others who we know own more than five percent of the voting power of our issued and outstanding equity securities.
We believe each of these persons has sole voting and investment power over the shares they own, unless otherwise noted. The address of our directors and executive officers is our address.
Name of Officer/Director and Control Person
Residential Address
Amount and Nature of Beneficial Ownership
Ownership Percentage of Class Outstanding(1)
Percentage of Voting Power(2)
5% or Greater Stockholders:
Laura Curwen
1101 Grandview Drive, Nashville, TN 37204
250,000 Preferred
6.25
3.3
Joseph Magliochetti
4734 Wildewood Dr., Delray Beach, FL 33445
250,000 Preferred
6.25
3.3
Holly Ruma
4734 Wildewood Dr., Delray Beach, FL 33445
250,000 Preferred
6.25
3.3
Olivia Savor
6958 Houlton Circle, Lake Worth, FL 33467
250,000 Preferred
6.25
3.3
Leonard Tucker, LLC.
20423 State Road 7-123 Boca Raton, FL 33498
462,500 Preferred
11.56
6.2
Irwin and Karen Meyer
2297 Waterby St. Westlake Village, CA 91351
400,000 Preferred;
5,891,609 Common
10.0
1.9
6.1
Alison Marcus
11500 Valentino Lane
Las Vegas, NV 89138
300,000 Preferred;
3,140,000 Common
7.5
1.0
4.4
Patricia Meyer
2600 San Leandro Blvd. Apt 708 San Leandro, CA 94578
300,000 Preferred;
3,500,000 Common
7.5
1.1
4.5
Peter Aiello, Jr.
5210 Marmol Drive, Woodland Hills, CA 91364
231,250 Preferred
5.8
3.1
Christine Arenalla
3310 South Ocean Boulevard, Apt. 431-D; Highland Beach, FL 33487
231,250 Preferred;
2,000,000 Common
5.8
0.6
3.4
Fred & Jennifer Ciapetta
21 Apple Hill Drive, Cortland Manner, NY 10511
231,250 Preferred
5.8
3.1
Peter Aiello, Sr.(3)
3310 South Ocean Boulevard, Apt. 431-D Highland Beach, FL 33487
231,250 Preferred
5.8
3.1
Panza Family Trust
1667 E. Classical Blvd. Delray Beach, FL 33445
462,500 Preferred
11.56
6.2
Executive Officers and Directors:
Michael O’Hara
310 Bonnie Lane, Hollister, CA 95023
5,050,500 common
1.6
0.7
Michael Handelman
3210 Rickey Ct. Thousand Oaks, CA 91362
2,780,833 common
.9
0.4
Frank Magliochetti
4734 Wildewood Dr., Delray Beach, FL 33445
1,500,000 Common
0.5
0.2
Thomas Terwilliger
-
Total Officers and Directors, as a Group (4 persons)
9,331,333 Common
3.0
1.3
(1) Based on 307,785,338 shares of Common Stock outstanding as of January 15, 2022 and 4,000,000 shares of Series A Convertible Preferred Stock outstanding.
(2) Each share of Preferred Stock is entitled to vote on the basis of 100 times each share of Common Stock.
(3) Held through Capa Partners, Limited.

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ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
Item 13. Certain Relationships and Related Transactions, and Director Independence
We have not engaged in any related party transactions during our two most recently completed fiscal years and the current fiscal year to date of this Annual Report, except as follows.
I. Winners Inc.
During the years ended September 30, 2021 and 2020, respectively, the Company completed certain transactions with Winners Inc., formerly known as GoooGreen, Inc. (OTC:WNRS) (www.vegaswinners.com). Winners, Inc. is engaged in the business of sports gambling research, data, advice, analysis, and predictions utilizing all available media, advertising formats and its database of users. The business and customers of Winners is expected to compliment and benefit that of the Company. These transactions are considered related party transactions since Frank Magliochetti, our Chairman of the Board, Chief Executive Officer, and consultant is a consultant and director of Winners, Inc., Thomas Terwilliger, our Director and Controller is a consultant of Winners, Inc. Michael Handelman, our Secretary and Chief Financial Officer is a consultant and director of Winners, Inc. and Nicholas Panza, our former director and consultant was a consultant and former director of Winners, Inc:
On September 8, 2021 the Company exercised the option to acquire common shares of Winners, Inc and the Company recorded the investment using the equity method of accounting and reflecting it as an equity method investee.
These transactions and balances are as follows:
30-09-2021 30-09-2020
A. Notes Receivable $ 515,000 $ 200,000
B. Accrued interest income 41,000 -
C. Investment in Winners, Inc. - 35,000
D. Option to acquire common shares of Winners, Inc. - 100,000
E. Investment in Winners, Inc. equity investment method 105,000 -
$ 661,000 $ 335,000
A. Note Receivable
In July, 2020, the Company received a promissory note in the amount of $350,000 from Winners Inc., formerly known as GoooGreen, Inc. in exchange for cash. Winners Inc. (OTC:WNRS)(www.vegaswinners.com) is engaged in the business of sports gambling research, data, advice, analysis and predictions utilizing all available media, advertising formats and its database of users. The business and customers of Winners is expected to compliment and benefit that of the Company.
The note is secured by all tangible and intangible assets of Winners Inc., bears interest at a rate of 10% per annum and matured on August 11, 2021. Subsequent to the receipt of the promissory note, a total of $150,000 has been collected. The balance of the note receivable as of September 30, 2020 is $ 200,000. This note is past due as of September 30, 2021
During the year ended September 30, 2021, the Company received two promissory notes from Winners Inc. in the aggregate of $315,000. The promissory notes are secured by tangible and intangible assets of Winners, Inc., bears interest at a rate of 10% per annum and will mature in November and December 2021.
The balance of the notes receivable as of September 30, 2021 is $ 515,000 with $200,000 past due. Subsequent to September 30, 2021, the Company has received $425,000 in principal from the notes receivable.
B. Accrued interest income
	During the year ended September 30, 2021, the Company recorded interest income receivable of $41,000 from the notes receivable.
C. Investment in Winners Inc.
In July 2020, the Company purchased 500,000 shares of Winners Inc. common stock representing approximately 3% of Winners, Inc. issued and outstanding common stock in exchange for cash of $50,000.
The Company accounted for the investment to Winners Inc. pursuant to ASC 320, Investments - Debt and Equity, as the Company’s equity interest does not give it the ability to exercise significant influence (generally less than 20% of an investee’s equity) and accounts for the investment at fair value. The investment is then re-valued at each reporting date, with changes in the fair value reported in the consolidated statements of operations. As of September 30, 2020, the investment had a fair value of $35,000, resulting in a loss on investment of $15,000 during the year ended September 30, 2020.
On September 8, 2021 the Company started accounting for its investment in Winners, Inc as an equity method investment (See Note 6 of the consolidated financial statements)
D. Option to acquire common shares of Winners, Inc.
In August 2020, the Company obtained an option as amended from Thomas Terwilliger, Winners Inc.’s Chief Executive Officer and shareholder, to purchase 149,012,000 (14,901,200 pre-split) common shares for $175,000 for which the Company has provided a $100,000 non-refundable deposit. Once the Company has remitted the remaining $75,000 to Mr. Terwilliger, the option will be exercisable anytime through May 31, 2021 and which was subsequently extended.
The Company followed the guidance of ASC 321, Investment - Equity Securities and accounted the option at cost of $100,000 at September 30, 2020. The remaining balance of $75,000 was paid to Mr. Terwilliger and the option was exercised on September 8, 2020. (See Note 6)
E. Investment in equity method investee - Winners, Inc.
The remaining balance of $75,000 was paid to Mr. Terwilliger and the option was exercised on September 8, 2020. The Company followed the guidance of ASC 323, Investment - Equity Method and Joint Ventures (See Note 6 of the consolidated financial statements)
II. Consulting Agreements
As of December 24, 2019, we had entered into a Consulting Agreement with Parcae Capital Corporation, a company affiliated with Frank Magliochetti, our Chairman of the Board and Chief Executive Officer, pursuant to which Parcae has agreed to provide strategic and business development assistance to us for an initial period of three years for $5,000 per month. We have executed an addendum to the Consulting Agreement effective March 1, 2021, Parcae shall be compensated $23,333 per month.
We have entered into a Consulting Agreement with Thomas Terwilliger, effective September 1, 2021, to provide services as our Controller. The agreement is for a term of three years. The Agreement is exclusive, subject to certain specified exceptions. Mr. Terwilliger is to be paid $ $3,500 in cash on a monthly basis.
We have entered into an Officer Agreement with Michael Handelman, effective December 1, 2021, to provide interim services as our Chief Financial Officer. The agreement is for a term of one year with automatic renewals for successive one-year periods, unless terminated prior to the beginning of an applicable renewal term. The Agreement is exclusive, subject to certain specified exceptions. Mr. Handelman is to be paid $2,000 worth of restricted shares each month and $4,000 in cash on a monthly basis.
III. Settlement Agreements
During the year ended September 30, 2020, the Company entered into settlement agreements with certain officers and stockholders for the settlement of unpaid fees in the aggregate of $1,123,000 in exchange for cash payment of $100,000 and issuance of 6,750,000 shares of common stock with fair value of $18,000 as follows:
Irwin Meyer (Consultant)
$ 351,200
Consulting Agreement
Settled with Cash ($40,000)
Michael Handelman (Chief Financial Officer)
$ 200,053
Consulting Agreement
Settled with Cash ($25,000)
Michael O’Hara (Director)
$ 91,260
Consulting Agreement
Settled with shares
Nate Bernard (Former CEO)
$ 206,299
Consulting Agreement
Settled with shares
Parcae Capital Corp. (Frank Magliochetti)
$ 200,000
Consulting Agreement
Settled with Cash ($35,000)
Review, Approval or Ratification of Transactions with Related Persons
Due to the small size of our Company, we do not at this time have a formal written policy regarding the review of related party transactions, and rely on our full Board of Directors to review, approve or ratify such transactions and identify and prevent conflicts of interest. Our Board of Directors reviews any such transaction in light of the particular affiliation and interest of any involved director, officer or other employee or stockholder and, if applicable, any such person’s affiliates or immediate family members. Management aims to present transactions to our Board of Directors for approval before they are entered into or, if that is not possible, for ratification after the transaction has occurred. If our Board of Directors finds that a conflict of interest exists, then it will determine the appropriate action or remedial action, if any. Our Board of Directors approves or ratifies a transaction if it determines that the transaction is consistent with our best interests and the best interest of our stockholders.
Director Independence
Our Board of Directors currently consists of three (3) members: Frank Magliochetti, Thomas Terwilliger and Michael O’Hara. Our Board of Directors undertook a review of the composition of our Board of Directors and the independence of each director. Based upon information requested from and provided by each director concerning their background, employment and affiliations, including family relationships, our Board of Directors has determined that Mr. O’Hara qualifies as “independent” as that term is defined by NASDAQ Listing Rule 5605(a) (2).
Subject to some exceptions, NASDAQ Listing Rule 5605(a)(2) provides that a director will only qualify as an “independent director” if, in the opinion of our Board of Directors, that person does not have a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director, and that a director cannot be an “independent director” if (a) the director is, or in the past three years has been, an employee of ours; (b) a member of the director’s immediate family is, or in the past three years has been, an executive officer of ours; (c) the director or a member of the director’s immediate family has received more than $120,000 per year in direct compensation from us within the preceding three years, other than for service as a director or benefits under a tax-qualified retirement plan or non-discretionary compensation (or, for a family member, as a non-executive employee); (d) the director or a member of the director’s immediate family is a current partner of our independent public accounting firm, or has worked for such firm in any capacity on our audit at any time during the past three years; (e) the director or a member of the director’s immediate family is, or in the past three years has been, employed as an executive officer of a company where one of our executive officers serves on the compensation committee; or (f) the director or a member of the director’s immediate family is an executive officer, partner or controlling shareholder of a company that makes payments to, or receives payments from, us in an amount which, in any twelve-month period during our past three fiscal years, exceeds the greater of 5% of the recipient’s consolidated gross revenues for that year or $200,000 (except for payments arising solely from investments in our securities or payments under non-discretionary charitable contribution matching programs). Additionally, in order to be considered an independent member of an audit committee under Rule 10A-3 of the Exchange Act, a member of an audit committee may not, other than in his or her capacity as a member of the audit committee, the Board of Directors, or any other committee of the Board of Directors, accept, directly or indirectly, any consulting, advisory, or other compensatory fee from the applicable company or any of its subsidiaries or otherwise be an affiliated person of the applicable company or any of its subsidiaries.

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ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
Item 14. Accounting Fees and Services
The following table sets forth the aggregate fees billed to us during the years ended September 30, 2021 and 2020.
Audit Fees
Salberg & Company P.A $ 46,000 $ 0
Weinberg & Company P.A. $ 0 $ 42,500
Audit Related Fees
Salberg & Company P.A $ 0 $ 0
Weinberg & Company P.A. $ 0 $ 0
Tax Fees
Salberg & Company P.A $ 0 $ 0
Weinberg & Company P.A. $ 0 $ 0
Part IV

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ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
Item 15. Exhibits, Financial Statement Schedules
(a) The following documents are filed as part of this report:
(1) Financial Statements:
Reports of Independent Registered Public Accounting Firms
Consolidated Balance Sheets
Consolidated Statements of Operations
Consolidated Statements of Stockholders’ Equity (Deficit)
Consolidated Statements of Cash Flows
Notes to Consolidated Financial Statements
(2) Financial Statement Schedules:
All financial statement schedules have been omitted because they are not applicable, not required or the information required is shown in the financial statements or the notes thereto.
(3) Exhibits. The following is a list of exhibits filed as part of this Annual Report on Form 10-K.
Exhibit No. Description [DELETE THOSE EXHIBITS RELATING TO CONTRACTS WHICH ARE NO LONGER EXECUTORY]
2.1 Articles of Incorporation*
2.2 Agreement and Plan of Merger*
2.3 Bylaws*
2.4 Articles of Amendment (Series A Convertible Preferred Stock)*
3.1 Promissory Notes issued by Winners, Inc.***
10.1 Application Development Agreement dated March 20, 2020 between the Company and InfinixSoft*
10.2 Addendum to Application Development Agreement dated February 23, 2021 between the company and InfinixSoft**
10.3 Director Agreement between the Company and Michael O’Hara with addendum*
10.4 Director Agreement between the Company and Frank Magliochetti*
10.5 Addendum to Director Agreement between the Company and Frank Magliochetti
10.6 Consulting Agreement dated December 24, 2019 between the Company and Parcae Capital Corporation*
10.7 Addenda to Consulting Agreement dated December 24, 2019 between the Company and Parcae Capital Corporation*
10.8 Consulting Agreement dated December 24, 2019 between the Company and Leonard Tucker, LLC**
10.9 Addenda to Consulting Agreement dated December 24, 2019 between the Company and Leonard Tucker, LLC*
10.10 Consulting Agreement dated December 24, 2019 between the Company and Capa Partners, Ltd*
10.11 Consulting Agreement dated December 24, 2019 between the Company and Irwin Meyer*
10.12 Reorganization and Stock Purchase Agreement between the Company and Rebel Blockchain, Inc. dated March 19, 2021**
10.13 Option Agreement between the Company and Tom Terwilliger**
10.14 Loan Agreement between the Company and Winners, Inc.**
10.15 Reorganization and Stock Purchase Agreement dated December 4, 2020 between the Company and Nebula Software Corp.**
10.16 Officer Agreement between the Company and Michael Handelman***
31.1 Certification of the Company’s Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Report on Form 10-K for the year ended December 31, 2020.*
31.2 Certification of the Company’s Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Report on Form 10-K for the year ended December 31, 2020.*
32.1 Certification of the Company’s Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*
32.2 Certification of the Company’s Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*
101.INS XBRL Instance Document*
101.SCH XBRL Taxonomy Extension Schema Document*
101.CAL XBRL Taxonomy Extension Calculation Linkbase Document*
101.DEF XBRL Taxonomy Extension Definition Linkbase Document*
101.LAB XBRL Taxonomy Extension Label Linkbase Document*
101.PRE XBRL Taxonomy Extension Presentation Linkbase Document*
*Filed as an exhibit to the Company’s Offering Statement as amended, which was qualified on June 4, 2020
**Filed as an exhibit to the Company’s Offering Statement as amended, which was qualified on September 7, 2021
*** Filed herewith