UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

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

FOR THE QUARTERLY PERIOD ENDED: ~~April~~October 3031, 2023

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

For the transition period from to

Commission File Number: 000-56356

POINT OF CARE NANO-TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)

Nevada		27-2830681
(State or Other Jurisdiction of Incorporation or Organization)		(I.R.S. Employer Identification No.)

109 Ambersweet Way Davenport, FL, 33897
(Address of principal executive offices) (Zip Code)

(732) 723-7395
(Registrant’s telephone number)

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

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

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

o Large accelerated filer o Accelerated filer x Non-accelerated ~~filer~~Filer x Smaller reporting company o Emerging growth company

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

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

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

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Not applicable.

The number of the registrant’s shares of common stock outstanding was ~~420~~72,790,621 as of ~~June~~December xx3, ~~2023~~2024.

Table of Contents

POINT OF CARE NANO-TECHNOLOGY, INC.

FORM 10-Q

TABLE OF CONTENTS

		Page
PART I—FINANCIAL INFORMATION
Item 1.	Consolidated Financial Statements	3
	Condensed Balance Sheets as of April 30, 2023 (unaudited) and July 31, 2022	3
	Condensed Balance Sheets as of October 31, 2023 (unaudited) and July 31, 2023	3
	Condensed Statements of Operations for the Three and Nine Months Ended April 30, 2023 (unaudited) and the Three and Nine Months Ended April 30, 2022 (unaudited)	4
	Condensed Statements of Operations for the Three Months Ended October 31, 2023 (unaudited) and the Three Months Ended October 31, 2022 (unaudited)	4
	Condensed Statements of Changes in Stockholders’ Equity for the Nine Months Ended April 30, 2023 (unaudited) and the Nine Months Ended April 30, 2022 (unaudited)	5
	Condensed Statements of Equity for the Three Months Ended October 31, 2023 (unaudited) and the Three Months Ended October 31, 2022 (unaudited)	5
	Condensed Statements of Cash Flows for the Nine Months Ended April 30, 2023 (unaudited) and the Nine Months Ended April 30, 2022 (unaudited)	6
	Condensed Statements of Cash Flows for the Three Months Ended October 31, 2023 (unaudited) and the Three Months Ended October 31, 2022 (unaudited)	6
	Notes to Condensed Financial Statements (unaudited)	7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	13
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	15
Item 4.	Controls and Procedures	15
PART II—OTHER INFORMATION
Item 1.	Legal Proceedings	16
Item 1A.	Risk Factors	16
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	16
Item 3.	Defaults Upon Senior Securities	16
Item 4.	Mine Safety Disclosures	16
Item 5.	Other Information	16
Item 6.	Exhibits	17
SIGNATURES		18

NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q for Point of Care Nano-Technology, Inc. may contain forward-looking statements within the ~~meaning~~ meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are characterized by future or conditional verbs such as “may,” “will,” “expect,” “intend,” “anticipate,” believe,” “estimate” and “continue” or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information. Such statements are only predictions, and our actual results may differ materially from those anticipated in these forward-looking statements. We believe that it is important to communicate future expectations to investors. However, there may be events in the future that we are not able to accurately predict or control. Factors that may cause such differences include, but are not limited to, those discussed under Item 1A. Risk Factors in the Company’s 10K filed with the Securities and Exchange Commission (“SEC”) on October 2531, ~~2022~~2024.

Table of Contents

ITEM 1. FINANCIAL STATEMENTS

POINT OF CARE NANO-TECHNOLOGY, INC.

~~INTERIM~~CONDENSED ~~CONSOLIDATED~~ BALANCE SHEETS

As of ~~April~~October 3031, 2023 (Unaudited) and July 31, ~~2022~~2023 (Audited)

(Unaudited)

	October 31, 2023			July 31, 2023
ASSETS
Current Assets
Cash	$	423		$	498
Prepaid Expenses		3,840			5,280
Current Assets		4,263			5,778
Intangible Asset - License (Note 7)		115,989			118,865
Total Assets	$	120,252		$	124,643

LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities
Accounts Payable and Accrued Expenses	$	143,331		$	141,414

Total Liabilities		143,331			141,414

Stockholders’ Deficit
Preferred Stock, par value $.0001, (Note 5) 10,000,000 shares authorized; 1,000 shares issued and outstanding		1			1
Common Stock, par value $.0001, (Note 5) 100,000,000 shares authorized; 420,621 shares issued and outstanding in 2023		42			42
Unissued Common Stock		750,000			750,000
Share Subscriptions Received (Note 5)		20,000			20,000
Additional Paid-In Capital		120,192,085			120,192,085
Accumulated Deficit		(120,985,207	)		(120,978,899	)
Total Stockholders’ Deficit		(23,079	)		(16,771	)
Total Liabilities and Stockholders’ Deficit	$	120,252		$	124,643

	Apr 30, 2023			July 31, 2022
ASSETS
Current Assets
Cash	$	2,312		$	3,198
Prepaid Expenses		1,220			2,917
Current Assets		3,532			6,115
Intangible Asset - License (Note 7)		120,015			123,466
Total Assets	$	123,547		$	129,581
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities
Accounts Payable and Accrued Expenses	$	238,299		$	213,335
Total Liabilities		238,299			213,335
Stockholders’ Deficit
Preferred Stock, par value $.0001, (Note 5) 10,000,000 shares authorized; 1,000 shares issued and outstanding		1			1
Common Stock, par value $.0001, (Note 5) 100,000,000 shares authorized; 420,621 shares issued and outstanding (940,621 in 2022)		420			940
Share Subscriptions Received (Note 5)		20,000			-
Treasury Stock - 520,000 shares		-			(520	)
Additional Paid-In Capital		120,191,707			120,191,707
Accumulated Deficit		(120,326,880	)		(120,275,882	)
Total Stockholders’ Deficit		(114,752	)		(83,754	)
Total Liabilities and Stockholders’ Deficit	$	123,547		$	129,581

See accompanying notes to the interim financial statements.

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POINT OF CARE NANO-TECHNOLOGY, INC.

~~INTERIM~~CONDENSED ~~CONSOLIDATED~~ STATEMENTS OF OPERATIONS

For the Three ~~and Nine~~ Months Ended ~~April~~October 3031, 2023 and ~~April 30,~~ 2022

(Unaudited)

	For the Three			For the Three			~~For the Nine~~			~~For the Nine~~
	Months Ended			Months Ended			~~Months Ended~~			~~Months Ended~~
	Apr 30, 2023			Apr 30, 2022			Apr 30, 2023			Apr 30, 2022
	October 31, 2023			October 31, 2022
Revenues	$	-		$	100,000		$	-		$	100,000
Operating Expenses:
Operating Expenses
Amortization Expense		2,876			1,150
Amortization Expense		1,150			-			3,451			-
Consulting Expense		—			20,000
General and Administrative Expense		61,~~457~~665			23,~~472~~722			~~13,813~~			~~14,828~~
Officer Compensation		-			-			-			1
Professional Fees		1,767			3,199
Professional Fees		2,166			13,365			33,734			57,058
Total Expenses:	$	6,308		$	28,071
Royalty Fees		-			90,000			-			90,000
Net Operating and Comprehensive Loss	$	(6,308	)	$	(28,071	)
Operating expenses		9,773			105,837			50,998			161,887
Weighted average Net Loss per share, basic and diluted	$	(0.01	)	$	(0.03	)
								-
Weighted average number of common shares outstanding		751,142			940,621
Net Loss and Comprehensive Loss	$	(9,773	)	$	(5,837	)	$	(50,998	)	$	(61,887	)
Weighted average Net Loss per share, basic and diluted	$	(0.01	)	$	(0.01	)	$	(0.05	)	$	(0.08	)
Weighted average number of common shares outstanding		420,621			632,218			941,621			787,183

See accompanying notes to the interim financial statements.

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POINT OF CARE NANO-TECHNOLOGY, INC.

~~INTERIM~~CONDENSED ~~CONSOLIDATED~~ STATEMENTS OF EQUITY

For the Nine Month Periods Ended April 30, 2023 and April 30, 2022

(Unaudited)

																	Share							Total
																	Subscriptions		Additional		Accumulated			Stockholders’
	Preferred Stock				Common Stock						Treasury Stock						Received		Paid-In Capital		Deficit			Deficit
	#		$		#			$			#			$			$		$		$			$
Balance, July 31, 2022		1,000		1		940,621			940			(520,000	)		(520	)		-		120,191,707		(120,275,882	)		(83,754	)
Share Subscription Received		-		-		-			-			-			-			20,000		-		-			20,000
Share Cancellation		-		-		(520,000	)		(520	)		520,000			520			-		-		-			-
Net Loss		-		-		-			-			-			-			-		-		(50,998	)		(50,998	)
Balance, April 30, 2023		1,000		1		420,621			420			-			-			20,000		120,191,707		(120,326,880	)		(114,752	)
																	Share							Total
																	Subscriptions		Additional		Accumulated			Stockholders’
	Preferred Stock				Common Stock						Treasury Stock						Received		Paid-In Capital		Deficit			Deficit
	#		$		#			$			#			$			$		$		$			$
Balance, July 31, 2021		-		-		939,621			4,698			-			-			-		120,187,429		(120,212,367	)		(20,240	)
Settlement (Note 6)		-		-		(520,000	)		(520	)		-			-			-		520		-			-
Shares Issued		1,000		1		-			-			-			-			-		-		-			1
Net Loss		-		-		-			-			-			-			-		-		(61,887	)		(61,887	)
Balance, April 30, 2022		1,000		1		419,621			420			-			-			-		120,191,707		(120,274,254	)		(82,126	)

For the Three Months Ended October 31, 2023

																										Total
											Share Subscription		Unissued								Additional		Accumulated			Stockholders’
	Preferred Stock				Common Stock						Received		Common Stock		Treasury Stock						Paid-In Capital		Deficit			Deficit
	#		$		#			$			$		$		#			$			$		$			$
Balance, October 31, 2022		1,000	$	1		940,621		$	94		$	10,000		750,000		(520,000	)	$	(52	)		120,192,085		(120,928,953	)		23,175
Share Subscription Received		-		-		-			-			10,000		-		-			-			-		-			10,000
Net Loss for the period		-		-		-			-			-		-		-			-			-		(13,154	)		(13,154	)
Balance, January 31, 2023		1,000	$	1		940,621		$	94		$	20,000		750,000		(520,000	)	$	(52	)		120,192,085		(120,942,107	)		20,021
Share Cancellation		-		-		(520,000	)		(52	)		-		-		520,000			52			-		-			-
Net Loss for the period		-		-		-			-			-		-		-			-			-		(9,773	)		(9,773	)
Balance, April 30, 2023		1,000	$	1		420,621		$	42		$	20,000		750,000		-		$	-			120,192,085		(120,951,880	)		10,248
Net Loss for the period		-		-		-			-			-		-		-			-			-		(27,019	)		(27,019	)
Balance, July 31, 2023		1,000		1		420,621			42			20,000		750,000		-			-			120,192,085		(120,978,899	)		(16,771	)
Net Loss for the period		-		-		-			-			-		-		-			-			-		(6,308	)		(6,308	)
Balance, October 31, 2023		1,000		1		420,621			42			20,000		750,000		-			-			120,192,085		(120,985,207	)		(23,079	)

For the Three Months Ended October 31, 2022

																								Total
									Share Subscription		Unissued								Additional		Accumulated			Stockholders’
	Preferred Stock				Common Stock				Received		Common Stock		Treasury Stock						Paid-In Capital		Deficit			Deficit
	#		$		#		$		$		$		#			$			$		$			$
Balance, October 31, 2021		1,000		1		940,621		94		-		-		-			-			120,187,430		(120,254,622	)		(67,097	)
Net Loss for the period		-		-		-		-		-		-		-			-			-		(13,795	)		(13,795	)
Balance, January 31, 2022		1,000		1		940,621	$	94		-		-		-			-			120,187,430		(120,268,417	)		(80,892	)
Net Loss for the period		-		-		-		-		-		-		-			-			-		(5,837	)		(5,837	)
Balance, April 30, 2022		1,000		1		940,621		94		-		-		-			-			120,187,430		(120,274,254	)		(86,729	)
Settlement (Note 6)		-		-		-		-		-		-		(520,000	)		(52	)		4,655		-			4,603
Unissued Common Stock		-		-		-		-		-		750,000		-			-			-		-			750,000
Net Loss		-		-		-		-		-		-		-			-			-		(626,628	)		(626,628	)
Balance, July 31, 2022		1,000		1		940,621		94		-		750,000		(520,000	)		(52	)		120,192,085		(120,900,882	)		41,246
Share Subscription Received		-		-		-		-		10,000		-		-			-			-		-			10,000
Net Loss for the period		-		-		-		-		-		-		-			-			-		(28,071	)		(28,071	)
Balance, October 31, 2022		1,000		1		940,621		94		10,000		750,000		(520,000	)		(52	)		120,192,085		(120,928,953	)		23,175

See accompanying notes to the interim financial statements.

Table of Contents

POINT OF CARE NANO-TECHNOLOGY, INC.

~~INTERIM~~CONDENSED ~~CONSOLIDATED~~ STATEMENTS OF CASH FLOWS

For the ~~Nine~~Three Months Ended ~~April~~October 3031, 2023 and ~~April~~October 3031, 2022

(Unaudited)

	For the Nine			For the Nine
	For the Three			For the Three
	Months Ended			Months Ended
	Apr 30, 2023			Apr 30, 2022
	October 31, 2023			October 31, 2022
Cash Flows from Operating Activities:
Net Loss	$	(506,~~998~~308	)	$	(6128,~~887~~071	)
Non Cash Expense:
Amortization		32,~~451~~876			-1,150
Officer Compensation		-			1
Change in Working Capital Items:
Accounts payable and Accrued expenses		241,~~964~~917			6117,~~986~~822
Prepaid expense		1,~~697~~440			1,750
Net Cash Provided (Used) by Operating Activities		(20,886	)		100
Net Cash Used by Operating Activities		(75	)		(7,349	)
Cash Flows from Financing Activities:
FINANCING ACTIVITIES
Share Subscriptions Received		~~20,000~~-			-10,000
Net Cash Provided by Financing Activities		20,000			-
Net cash provided by financing activities		-			10,000
Change in cash for the period		(~~886~~75	)		~~100~~2,651
Beginning Cash		~~3,198~~498			-3,198
Ending Cash	$	~~2,312~~423		$	~~100~~5,849
Supplemental disclosures of cash flow - cash paid for :
Interest	$	-		$	-
Income Tax	$	-		$	-
Unpaid license fees to be paid in common shares	$	-		$	-

See accompanying notes to the interim financial statements.

Table of Contents

POINT OF CARE NANO-TECHNOLOGY, INC.

~~NOTES TO THE~~ INTERIM ~~CONSOLIDATED~~ FINANCIAL STATEMENTS

AsFor atthe ~~April~~Three 30Months Ended October 31, 2023

(Unaudited)

Note 1

COMPANY AND BACKGROUND

Point of Care Nano-Technology, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on June 10, 2010, under the name of “Alternative Energy and Environmental Solutions, Inc.” On August 28, 2014, the Company filed an amendment to its Articles of Incorporation changing the name of the Company to “Unique Growing Solutions, Inc.” On March 31, 2015, the Company filed an amendment to its Articles of Incorporation changing the name of the Company to “Point of Care Nano-Technology, Inc.”

On February 26, 2015, the Company’s business model was related to using its license, under a certain license agreement (the “License Agreement”) from Lamina Equities Corporation, to first develop and then manufacture saliva-based medical diagnosis products. The Company was not successful and discontinued the majority of its operations by July 31, 2016. Beginning from August 2016, the Company’s plan, which it has since discontinued, was to provide business services and financing to emerging growth entities.

On April 15, 2021, the Company accepted the resignations of Dr. Guirguis and Mr. El-Salhy, received a mutual release from both, and appointed Mr. Nicholas DeVito to be Director, Chief Executive Officer and Chief Financial Officer. In addition, for his services to the Company, Mr. DeVito was awarded 1,000 shares of Class A Preferred Stock that grants him 80% voting rights.

Also on April 15, 2021 the Company agreed to form a subsidiary and transfer all debts and the License Agreement back to Dr. Guirguis in exchange for 520,000 shares of Common Stock. On August ~~231~~21, 2021, the Company formed the wholly owned subsidiary, DRG Transfer, Inc. This transaction closed on March 26, 2022.

On July 2, 2021, the Company incorporated a wholly owned subsidiary, Duo Sciences, Inc. (“DSI”).

On April 11, 2022, the Company, through DSI, acquired an exclusive license to distribute certain intellectual property in animal nutrition and animal supplements from Cedoga Consulting, LLC (“Cedoga”). On April 19, 2022, DSI signed an exclusive sales and promotion agreement with Lucy Pet Products Inc. (“Lucy”) pursuant to which Lucy will manufacture, market and distribute pet products from the Cedoga intellectual property.

U.S. patent application 16/930,604 was allowed on March 29, 2023, and will issue shortly, further strengthening our subsidiary, DSI, intellectual property position and coverage for its DUOS products. The allowed claims are directed to an edible pet chew that contains a thermo-processed shell having a cylindrical shape and that includes cellulosic fibers, a humectant, and a gelling agent, and within the shell is a cold-formed filler that contains a fat mimicking composition and a thermally labile active containing an enzyme. The pet chew provides oral care properties and contains thermal labile nutrients and/or actives whose nutrient values and activities are preserved. The pet chews provide salivatory stimulation when consumed by the pet, which in combination with the other ingredients of the pet chew provide dental care properties to remove dental plaque, stain, and tartar on a tooth surface, as well as protection of the oral and perioral tissues. A continuation patent application seeking to further protect the pet chew oral care technology was also filed. The application has been assigned serial number 18/133,381 and the filing date was April 11, 2023.

On December 12, 2022, the Company entered into an asset purchase agreement with Global Foods Group, LLC (“GFG”) and its principal shareholder pursuant to which it agreed to acquire substantially all of the assets of GFG, consisting of assets relating to the sugar substitute that GFG has been developing, Jaca®. In exchange for the Jaca related assets, the Company would issue to GFG and its designees 7,000,000 shares of the Company’s common stock. Upon the closing of this transaction, which would effect a change of control of the Company, Peter Ferrari, the principal of the controlling member of GFG, was to become the CEO and a director of the Company and Nicholas DeVito, the current CEO and controlling stockholder of the Company though the 1,000 shares of super-majority Class A Preferred Stock that he holds, was to retain his positions with the Company as Treasurer, Secretary and Chief Financial Officer and director, and he was to exchange his Class A Preferred shares for 2,000,000 shares of the common stock of the Company. On January 26, 2023, GFG terminated the asset purchase agreement in accordance with Section 3(e) of the agreement.

On February 28, 2023, the Company changed transfer agents to Sedona Equity Registrar & Transfer, Inc. from Vstock Transfer.

The Company’s principal executive office location and mailing address is 109 Ambersweet Way, Davenport, FL 33897.

These financial statements have been prepared in accordance with generally accepted principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classifications of assets and liabilities should the Company be unable to continue as a going concern. At ~~April~~October 3031, 2023, the Company had not yet achieved profitable operations and had accumulated losses of $120,~~326~~985,~~880~~207 since ~~its~~ its inception, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due.

Note 2

CONTROL BY PRINCIPAL OWNERS

The sole director and executive officer owns, directly, beneficially and in the aggregate, the majority of the voting power of the outstanding capital stock of the Company. Accordingly, the sole director and executive officer has the ability to control the approval of most corporate actions, including approving significant expenses, increasing the authorized capital and the dissolution, merger, or sale of the Company’s assets.

Note 3

INTERIM REPORTING

While the information presented in the accompanying interim three month financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented in accordance with accounting principles generally accepted in the United States of America. These interim financial statements follow the same accounting policies and methods of their application as the Company’s July 31, ~~2022~~2023 annual financial statements. All adjustments are of a normal recurring nature. It is suggested that these interim financial statements be read in conjunction with the Company’s July 31, ~~2022~~2023 annual financial statements. Operating results for the ~~nine~~three months ended ~~April~~October 3031, 2023 are ~~not~~ not necessarily indicative of the results that can be expected for the year ended July 31, ~~2023~~2024.

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Note 4

ACCOUNTING POLICIES

The financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America, the more significant of which are as follows:

Consolidation

The accompanying consolidated financial statement include the accounts of the Company and its wholly owned subsidiary Duo Sciences Inc. (“DSI”)

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Changes in estimates are recognized in accordance with the accounting rules for the estimate, which is typically in the period when new information becomes available to management. Actual results could differ from those estimates.

Financial Instruments

Financial instruments consist of cash and accounts payable and accrued liabilities. The carrying amounts of the financial instruments approximate their fair values due to their relatively short-term nature of the underlying terms are consistent with market terms. As of the financial statement date, the Company does not hold any derivate financial instruments. Financial assets and liabilities are measured upon first recognition and reviewed at the financial statement date. Changes in fair value are recognized through profit and loss. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments.

Fair Value Measurements

The Company follows FASB Codification topic (“ASC”) 820, Fair Value Measurements and Disclosures, for all financial instruments and non-financial instruments accounted for at fair value on a recurring basis. This new accounting standard establishes a single definition of fair value and a framework for measuring fair value, sets out a fair value hierarchy to be used to classify the source of information used in fair value measurement and expands disclosures about fair value measurements required under other accounting pronouncements. It does not change existing guidance as to whether or not an instrument is carried at fair value. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk.

The Company has adopted FASB ASC 825, Financial Instruments, which allows companies to choose to measure eligible financial instruments and certain other items at fair value that are not required to be measured at fair value. The Company has not elected the fair value option for any eligible financial instruments.

An asset or liability’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Availability of observable inputs can vary and is affected by a variety of factors. The Company uses judgment in determining fair value of assets and liabilities, and Level 3 assets and liabilities involve greater judgment than Level 1 and Level 2 assets or liabilities.

Revenue Recognition

Effective August 1, 2018, the Company adopted ASC, Topic 606, “Revenue from Contracts with Customers”, using the modified retrospective transition method as permissible for all contracts not yet completed as of August 1, 2018. This standard applies to all contracts with customers, except for contracts that are within the scope of other standards, such as leases, insurance, collaboration arrangements and financial instruments.

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Under Topic 606, an entity recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of Topic 606, the entity performs the following five steps: (i) identify the contracts) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer.

Income Taxes

The Company accounts for income taxes under FASB ASC Topic 740, Income Taxes (“ASC Topic 740”). Under ASC Topic 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740-10-25, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. As the Company has yet to produce positive cash flows from operations, no deferred tax asset or income taxes have been recorded in the financial statements.

Comprehensive Income (Loss)

The Company adopted FASB ASC 220, Reporting Comprehensive Income, which establishes standards for the reporting and display of comprehensive income and its components in the financial statements. Comprehensive income consists of net income and other gains and losses affecting stockholder’s equity that are excluded from net income, such as unrealized gains and losses on investments available for sale, foreign currency translation gains and losses and minimum pension liability. Since inception, the Company has not had any comprehensive income / loss.

Net Income (Loss) per Common Share

FASB ASC 260, Earnings per share, requires dual presentation of basic and diluted earnings per share (EPS) with a reconciliation of the numerator and denominator of the EPS computations. Basic earnings per share amounts are based on the weighted average shares of common stock outstanding. If applicable, diluted earnings per share would assume the conversion, exercise or issuance of all potential common stock instruments such as options, warrants and convertible securities, unless the effect is to reduce a loss or increase earnings per share. Diluted net income (loss) per share on the potential exercise of the equity-based financial instruments is not presented where anti-dilutive. Accordingly, although the diluted weighted average number of common stock outstanding is disclosed on the statements of operation, the calculated net loss per share is the same for bother basic and diluted as both are based on the basic weighted average of common stock outstanding. There were no adjustments required to net income for the period presented in the computation of diluted earnings per share.

Segment Reporting

FASB ASC 820, “Segments Reporting,” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organization structure as well as information about geographical areas, business segments and major customers in financial statements. The Company currently operates in one principal business segment.

Intangible assets

Intangible ~~assets~~asset are non-monetary identifiable assets, controlled by the Company that will produce future economic benefits, based on reasonable and supportable assumptions about conditions that will exist over the life of the asset. An intangible asset that does not meet these attributes will be recognized as an expense when it is incurred. Intangible assets that do, are capitalized and initially measure at cost. Those with a determinable life will be amortized on a systematic basis over their future economic life. Those with an indefinite useful life shall not be amortized until its useful life is determined to be longer than indefinite. An intangible asset subject to amortization shall be periodically reviewed for impairment. A recoverability test will be performed and, if applicable, unscheduled amortization is considered.

The license ~~agreement~~agreements has been capitalized, recorded at cost and amortized over its estimated useful life of ten years. Amortization has been determined based on a pro rata basis over the expected cash flows.

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Non-cash transactions

The Company follows FASB ASC 845 then recording non-cash transactions. The value of the asset received should be based on the value of the assets surrendered. However, where that value is difficult to determine, then the value could be based on the asset received, provided it is more clearly evident than the value of the asset surrendered.

Related Parties

The Company adopted FASB ASC 850, Related Party Disclosures, for the identification of related parties and disclosure of related party transactions.

Recent Accounting Pronouncements

The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position, or cash flow.

10The financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America, the more significant of which are as follows:

Note 5

COMMON and PREFERRED STOCK

The Company has authorized capital of 100,000,000 shares of common stock, par value of $0.0001 per share, and 10,000,000 shares of “blank check” preferred stock, par value of $0.0001 per share, of which ~~1,000~~none ~~shares~~ have been designated as Series A Nonconvertible Preferred Stock (the “Series A Preferred Stock”). There were no transactions for the 3 months ended October 31, 2023. During the year ended July 31, 2023, the Company had the following transactions:

~~The~~On June 8, 2022, the Company ~~had~~received approval from the ~~following~~Financial ~~transactions~~Industry inRegulatory ~~its~~Authority to effect a 50:1 reverse split of our outstanding common stock. ~~during~~The split was reflected in the ~~nine~~public ~~months~~markets ~~ended~~on ~~April~~June 309, ~~2023:~~2022 and has been given retroactive disclosure in the financial statements. Accordingly, all references to common shares in these financial statements reflect the reverse split.

On August 242, ~~2022~~2021, the Company ~~completed~~issued ~~a financing with an investor for $10~~1,000 inSeries ~~exchange~~A ~~for~~Preferred ~~100,000~~Stock ~~Units~~to ~~consisting~~Nicholas ~~of (i) one share of common stock~~DeVito, ~~par~~our ~~value~~Chief ~~$0.001~~Executive ~~per~~Officer ~~share~~as ~~for $0~~compensation.10 ~~per~~The Preferred ~~share,~~Stock ~~(ii)~~gives ~~one~~DeVito ~~LOI~~80% ~~option~~control toof ~~purchase~~the ~~one~~voting ~~share~~stock of ~~common stock for $0.20 per share upon~~ the Company. ~~signing~~Mr. aDeVito ~~letter~~surrendered ofhis ~~intent~~preferred ~~with~~shares ain ~~third party and (iii) one Agreement option to purchase one share of common~~exchange ~~stock~~ for ~~$0.30~~5,000,000 ~~per~~shares ~~share~~of ~~upon the~~ Company ~~signing~~common anstock ~~agreement~~on ~~with~~May a21, ~~third party~~2024. ~~The shares have not yet been issued and the transaction has been recorded as subscriptions received.~~

On ~~November~~April 1210, 2022, the ~~investor~~Company ~~exercised~~entered ~~their~~into ~~right~~an agreement under which it agreed to ~~purchase~~issue 50300,000 common shares ofin ~~common~~order ~~stock~~to atobtain ~~$0.20~~a ~~per~~license to ~~share~~distribute ~~for~~product ~~gross~~(See ~~proceeds of $10,000~~below). The ~~shares~~Company ~~have~~has not yet ~~been~~ issued those shares and the ~~transaction~~obligation ~~has~~to ~~been~~do so is recorded as ~~subscriptions~~a ~~received~~$750,000 unissued stock in equity.

On March 16, 2023, the Company cancelled 520,000 shares from treasury stock received from Dr. Guirguis as part of the Settlement Agreement (See below), previously consistent with the agreement with him.

During the year ended July 31, 2022, the Company had the following transactions in its common and preferred stock:

On August 2, 2021, the Company issued 1,000 Series A Preferred Stock to Nicholas DeVito, the Company’s Chief Executive Officer as compensation. The Preferred Stock gives DeVito 80% control of the voting stock of the Company.

On April 10, 2022, the Company entered into an agreement under which it agreed to issue 300,000 common shares in order to obtain a license to distribute product (See below). The Company has not yet issued those shares and the obligation to do so is included in the accounts as a $125,000 liability.

On April 15, 2022, as part of the Settlement agreement (See below), the Company received into treasury 520,000 shares of common stock (26,000,000 pre reverse split shares).

On ~~June~~August 824, 2022, the Company ~~received~~completed ~~approval~~a ~~from~~financing ~~the~~with ~~Financial~~an ~~Industry~~investor ~~Regulatory~~for ~~Authority~~$20,000 in toexchange ~~effect~~for aUnits ~~50:1~~consisting ~~reverse split~~ of ~~the~~(i) ~~Company’s~~one ~~outstanding~~share of common stock, par value $0.0001 per ~~The~~share ~~split~~for ~~was~~$0.10 ~~reflected~~per inshare, ~~the~~(ii) ~~public~~one ~~markets~~LOI onoption ~~June~~to 9,purchase ~~2022~~one ~~and~~share ~~has~~of ~~been~~common stock ~~given~~for ~~retroactive~~$0.20 ~~disclosure~~per in share upon the ~~financial~~Company ~~statements.~~signing ~~Accordingly,~~a ~~all~~letter ~~references~~of intent with a third party and (iii) one Agreement option to purchase one share of common ~~shares~~stock infor ~~these~~$0.30 ~~financial~~per ~~statements~~share ~~reflect~~upon the ~~reverse~~Company ~~split~~signing an agreement with a third party.

There were no warrants or options outstanding as of ~~April~~October 3031, 2023.

Note 6

SETTLEMENT AGREEMENT

On April 15, 2021, the Company formed a wholly owned subsidiary, DRG Transfer Inc. (“DRG”) and transferred all Company debts relating to the License Agreement business and the License Agreement to DRG to be split off to Dr. Guirguis in exchange for 520,000 ~~share~~shares (26,000,000 shares pre reverse split) of ~~the~~our ~~Company’s~~ common stock held by Dr. Guirguis. This transaction closed on March 26, 2022 with Dr. Guirguis giving up and transferring to DRG all the rights, title and interest in the 520,000 shares and DRG contributing all of the legacy business debt and the License Agreement to DRG Transfer, Inc, a Nevada corporation, and transferring all of the outstanding capital stock in DRG Transfer, Inc. to Dr. Guirguis Outstanding debts of the Company that were generated while Mr. Guirguis operated the Company, measured as of April 15, 2021, consisted solely of unknown contingent liabilities (which could be identified or quantified at that time and which, to date, have been non-material or nil.

1110

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Note 7

LICENSE PURCHASED and INTANGIBLE ASSETS

On April 11, 2022, the Company, through its wholly owned subsidiary DSI, acquired an exclusive license to distribute in the USA, Canada and Mexico, certain intellectual property in animal nutrition and animal supplements from Cedoga Consulting, LLC. The Company receives 10% of all licensing fees due to Cedoga in exchange for 300,000 post reverse split shares of common stock of the Company. Under the terms of the agreement, the Company will pay royalties from sub-licensing on the following basis:

●

90% of net royalties for sale and initial payments up to $100,000,000 per calendar year.

●

95% of net royalties received for continuing sales above $100,000,000 per calendar year.

●

90% of any lump up-front payment sub-licensing fees.

●

Option to purchase 200,000 shares of the Company’s common stock when net sales exceed $100,000,000.

The license value has been based on the expected discounted cash flows the license will generate to the Company over its estimated 10 year life. The Company’s common shares are very lightly traded, and management determined that their market value isare not reliable as a determinant of value for this transaction.

Schedule of License Purchased

	April 30,		July 31,
	October 31,		July 31,
	2023		~~2022~~2023
License	$	125,000	$	125,000
Accumulated amortization		49,~~985~~011		16,~~534~~135
Balance, end of year	$	~~120~~115,~~015~~989	$	~~123~~118,~~466~~865

Note 8

EXCLUSIVE SALES SUB-LICENSING AGREEMENT

On April 19, 2022, DSI signed an exclusive sales and promotion sub-licensing agreement with Lucy Pet Products Inc. (“Lucy”) pursuant to which Lucy will manufacture, market and distribute pet products derived from the Cedoga intellectual property. The terms of the sub-licensing agreement are as follows:

	●	Lucy will pay the Company a one-time sub-license fee of $100,000 on execution of the sub-licensing agreement.

	●	Lucy will pay the Company royalties of 5% of Net Revenue, calculated and payable quarterly. Net Revenue is defined as total revenue less direct cost of materials, manufacturing, packaging and delivery expenses and less excise, sales or similar taxes.

~~On May~~Note ~~11,~~9 ~~2022,~~SUBSEQUENT ~~the Company received the first payment from Lucy of $100,000 under its sub-license agreement with Lucy and remitted $90,000 to Cedoga according to the Cedoga license agreement.~~EVENTS

On May 20, 2024, Point of Care Nano-Technology, Inc. (the “Company”) entered into an asset purchase agreement (the “Agreement”) with Point of Care Nano-Technology, LLC (“Point”) pursuant to which it agreed to acquire (the “Acquisition”) substantially all of the assets of Point (the “Assets”), consisting primarily of proprietary information and know-how for the developing and commercialization of kits to diagnose illnesses through the testing of human saliva, referred to as the “EZ Saliva” test kits, and cash in the amount of $101,400.

In exchange for the Assets, the Company issued to Point and/or its designees 66,000,000 restricted shares of common stock (the “Consideration Shares”).

Upon the closing of the Acquisition, which effected a change of control of the Company, Dr. Raouf Guirguis, the controlling member of Point, became a director of the Company and Chief Scientific Officer. Dr. Guirguis also acquired, directly and indirectly, 34,647,800 of the Consideration Shares, or approximately 47.6% of the shares of common stock outstanding after completion of the Acquisition. Mr. Nathan Keele, an associate of Dr. Guirguis and responsible for marketing efforts at Point, also was appointed to the board of directors of the Company. Mr. Keele will continue his marketing efforts at the Company. Mr. Keele acquired 18,903,200 of the Consideration Shares, or approximately 26.5% of the shares of common stock outstanding after completion of the Acquisition.

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Nicholas DeVito, the controlling stockholder of the Company prior to the Acquisition through the 1,000 shares of super-majority class A preferred stock (the “Preferred Stock”) of the Company that he held and through which he exercised eighty percent (80%) voting control over the Company, surrendered to the Company for cancellation the Preferred Stock and received, in exchange, 5,000,000 shares of common stock. Mr. DeVito will retain his positions as Chief Executive Officer, Chief Financial Officer, Treasurer and Secretary of the Company as well as his status as a member of board of directors.

The shares of Company common stock being issued in connection with the Acquisition (as described above) were issued in accordance with a private placement exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended, and are considered “restricted securities.”

In connection with the Acquisition, the Company entered into a license agreement (the “License Agreement”) with Zeus Diagnostics, LLC (“Zeus”), a Delaware limited liability company controlled by Dr. Guirguis, pursuant to which the Company acquired an exclusive, in perpetuity, license, with a right to sublicense, in the Territory (Canada, the United States and Mexico) to the “Zeus Know-How” which consists of all information related to the manufacture and commercialization of saliva tests derived from patents owned by Zeus. The Company paid Zeus a one-time, non-refundable up-front cash fee of $35,000 (which is creditable against other payments due) and will pay Zeus a royalty on “Net Sales” (as defined in the License Agreement) of Seven and One-Half Percent (7.5%) during each calendar quarter.

Following the closing of the Acquisition, business will focus on the EZ Saliva product commercialization activity previously carried on by Point.

On October 2, 2024 the Company issued 1,270,000 shares of common stock to three investors and raised $30,000.

On November 5, 2024, the Company issued 100,000 shares of common stock to one investor and raised $50,000.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis should be read in conjunction with our unaudited financial statements and the notes to those financial statements that are included elsewhere in this Form 10-Q. Our discussion includes forward-looking statements based upon current expectations that involve risks and uncertainties, such as our plans, objectives, expectations and intentions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of a number of factors. We use words such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “believe,” “intend,” “may,” “will,” “should,” “could,” “predict,” and similar expressions to identify forward-looking statements. Any statement contained in this report that is not a statement of historical fact may be deemed to be a forward-looking statement. Although we believe that the plans, objectives, expectations and prospects reflected in or suggested by our forward-looking statements are reasonable, those statements involve risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements, and we can give no assurance that our plans, objectives, expectations and prospects will be achieved.

Overview

WeThe ~~were~~Company was incorporated as “Alternative Energy & Environmental Solutions, Inc.” in the State of Nevada on June 10, 2010, to develop and ~~since~~license ~~that~~an ~~time~~innovative biotechnology for the environmentally friendly and cost-effective extraction of natural gas (coalbed wemethane) ~~have~~from ~~attempted~~low-producing, todepleted ~~develop~~and ~~certain~~abandoned ~~technologies~~coal ~~but~~mines ~~have~~in ~~failed~~the U.S. The Company was not successful in ~~these~~developing this business and ~~endeavors~~discontinued its biotechnology related operations. WeThe Company changed ~~our~~its name in 2014 to Unique Growing Solutions, Inc. and again in 2015 to Point of Care Nano-Technology, Inc.

~~Our~~On ~~current~~February ~~plan~~25, of2015, ~~operation~~the isCompany toentered ~~seek~~into ~~and acquire new business assets in~~ the ~~life~~License ~~sciences~~Agreement ~~industry and begin operations~~ with ~~these~~Lamina ~~new assets.~~relating ~~To that end, on April 11, 2022, we, through our wholly owned subsidiary, Duo Sciences Inc. (“DSI”), acquired an exclusive license~~ to ~~distribute certain~~ intellectual property infor ~~animal~~diagnosing ~~nutrition~~illness in ~~and~~humans ~~animal~~via ~~supplements~~a ~~from~~saliva ~~Cedoga Consulting, LLC~~test. During Onthe ~~April 19,~~past ~~2022,~~few weyears, ~~through~~the ~~DSI,~~Company ~~signed~~did annot ~~exclusive~~have ~~sales~~the ~~and~~financial ~~promotion~~resources ~~agreement~~to ~~with~~pursue ~~Lucy~~business ~~Pet Products Inc. (“Lucy”) pursuant~~development relating to ~~which~~the ~~Lucy~~Lamina ~~will~~license ~~manufacture, market~~ and ~~distribute~~this onbusiness ~~our~~was ~~behalf~~discontinued ~~pet~~and ~~products~~split ~~created from the Cedoga intellectual property~~off.

On ~~December~~April 1211, 2022, ~~the~~we, ~~Company~~through ~~entered~~our ~~into~~newly anestablished, ~~asset~~wholly ~~purchase~~owned ~~agreement~~subsidiary, ~~with Global Foods Group~~DSI, ~~LLC~~acquired ~~(“GFG”)~~an ~~and~~exclusive ~~its~~license ~~principal shareholder~~from ~~pursuant~~Cedoga to ~~which~~distribute in itthe ~~agreed~~USA, toCanada ~~acquire~~and ~~substantially~~Mexico, ~~all~~certain ofintellectual ~~the~~property ~~assets~~ of ~~GFG,~~Cedoga ~~consisting of assets~~ relating to ~~the~~animal ~~sugar substitute~~nutrition ~~that~~and ~~GFG~~animal ~~has~~supplements. ~~been~~On ~~developing~~April 19, ~~Jaca®.~~2022, Inwe, ~~exchange~~through ~~for the Jaca related assets~~DSI, ~~the~~signed ~~Company~~an ~~would~~exclusive ~~issue~~representative ~~to GFG~~ and ~~its~~sublicensing ~~designees~~agreement ~~7,000,000~~with ~~shares~~Lucy ofPet ~~the~~Products ~~Company’s common stock~~Inc. ~~Upon~~pursuant ~~the~~to ~~closing of this transaction,~~ which ~~would effect a change~~ ofLucy ~~control~~has ofagreed ~~the~~to ~~Company~~manufacture, ~~Peter~~market ~~Ferrari, the principal of the controlling member of GFG, was to become the CEO~~ and adistribute ~~director~~on ofour ~~the Company~~behalf ~~and~~pet ~~Nicholas~~products ~~DeVito,~~created ~~the~~from ~~current CEO and controlling stockholder of~~ the ~~Company~~Cedoga ~~though~~IP. ~~the~~There ~~1,000~~can ~~shares~~be ofno ~~super-majority Class~~assurance ~~A Preferred Stock~~ that hewe ~~holds,~~will ~~was~~be tosuccessful ~~retain~~marketing ~~his positions with~~ the ~~Company~~Cedoga asIP ~~Treasurer,~~or ~~Secretary~~that ~~and~~Lucy ~~Chief~~or ~~Financial~~other ~~Officer~~sublicensees ~~and director, and he was to exchange his Class A Preferred shares for 2,000,000 shares~~ of the ~~common~~Cedoga ~~stock~~IP ofwill ~~the~~be ~~Company.~~successful Onin ~~January~~their ~~26,~~business ~~2023,~~development ~~GFG terminated the asset purchase agreement in accordance with Section 3(e) of the agreement~~efforts.

Recent Activities

On May 30, 2024, we engaged and executed an agreement with Fruci & Associates II (“Fruci”), PLLC as our new independent accountant for the fiscal years ended July 31, 2023 and 2022.

On May 20, 2024, we entered into an asset purchase agreement (the “Agreement”) with Point of Care Nano-Technology, LLC (“Point”). Point was the company (unrelated to us) that Dr. Raouf Guirguis established to operate the business that Dr. Guirguis took back as a result of the consummation of the Spin Off Agreements (discussed below). Pursuant to this Agreement we agreed to acquire (the “Acquisition”) substantially all of the North American assets of Point (the “Assets”), consisting primarily of proprietary information and know-how for the developing and commercialization of kits for drug testing and to diagnose illnesses through the testing of human saliva, referred to as the “EZ Saliva” test kits, and cash in the amount of $101,400.

In exchange for the Assets, we issued to Point and/or its designees 66,000,000 restricted shares of our common stock (the “Consideration Shares”).

Upon the closing of the Acquisition, which effected a change of control of the Company, Dr. Raouf Guirguis, the controlling member of Point, became a director of the Company and Chief Scientific Officer. Dr. Guirguis also acquired, directly and indirectly, 34,596,800 of the Consideration Shares, or approximately 48.4% of the shares of our common stock outstanding after completion of the Acquisition. Mr. Nathan Keele, an associate of Dr. Guirguis and responsible for marketing efforts at Point, also was appointed to the board of directors of the Company. Mr. Keele will continue his marketing efforts at the Company. Mr. Keele acquired 18,903,200 of the Consideration Shares, or approximately 26.5% of the shares of our common stock outstanding after completion of the Acquisition.

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Nicholas DeVito, our controlling stockholder prior to the Acquisition through the 1,000 shares of our super-majority class A preferred stock (the “Preferred Stock”) that he held and through which he exercised eighty percent (80%) voting control over the Company, surrendered to us for cancellation the Preferred Stock and received, in exchange, 5,000,000 shares of our common stock. Mr. DeVito will retain his positions as our Chief Executive Officer, Chief Financial Officer, Treasurer and Secretary as well as his status as a member of our board of directors.

The shares of Company common stock issued in connection with the Acquisition (as described above) were issued in accordance with a private placement exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended, and are considered “restricted securities.”

In connection with the Acquisition, we entered into a license agreement (the “License Agreement”) with Zeus Diagnostics, LLC (“Zeus”), a Delaware limited liability company controlled by Dr. Guirguis, pursuant to which we acquired an exclusive, in perpetuity, license, with a right to sublicense, in the Territory (Canada, the United States and Mexico) the “Zeus Know-How” which consists of all information related to the manufacture and commercialization of saliva tests derived from patents owned by Zeus. We paid Zeus a one-time, non-refundable up-front cash fee of $35,000 (which is creditable against other payments due) and will pay Zeus a royalty on “Net Sales” (as defined in the License Agreement) of seven and one-half Percent (7.5%) during each calendar quarter.

Following the closing of the Acquisition, our business has begun to focus on the EZ Saliva product commercialization activity previously carried on by Point.

The description of the agreement discussed above does not purport to be complete and the reader should refer to the full text of the agreements as exhibits to our Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on June 10, 2024.

On November 21, 2023, the Company changed transfer agents to ClearTrust, LLC from Sedona Equity Registrar & Transfer.

On February 28, 2023, the Company changed transfer agents to Sedona Equity Registrar & Transfer, Inc. from Vstock Transfer.

RESULTS OF OPERATIONS

Comparison of Three Months Ended ~~April~~October 3031, 2023 and 2022

Revenues

Our total revenue was $0 ~~and $100,000~~ for ~~license revenue for~~ the three-month periods ended ~~April~~October 3031, 2023 and 2022, respectively.

Cost of Goods Sold

Our cost of goods sold was $0 for the three-month periods ended ~~April~~October 3031, 2023 and 2022, respectively.

Operating Expenses (including Selling, General and Administrative Expenses)

For the three months ended ~~April~~October 3031, 2023, our operating expenses decreased to $ 96,~~773~~308 from $ ~~105~~28,~~837~~071 for the three months ended ~~April~~October 3031, 2022. The decrease was primarily due to decreased ~~professional~~consulting, ~~expenses~~legal, filing and ~~royalty~~investor ~~fees~~expenses.

Net Other Income (Expense)

Our net other income (expenses) was $0 for the three-month periods ended ~~April~~October 3031, 2023 and 2022, respectively.

Income Tax Expense

Income tax expense was $0 and $0 for the three-month period ended ~~April~~October 3031, 2023 and 2022, respectively.

Net Loss

As a result of the foregoing factors, we had a net loss of $ (96,~~773)~~308 for the three months ended ~~April~~October 3031, 2023, as compared to $(528,~~837) for~~071 for the three months ended ~~April~~October 3031, 2022.

Comparison of Nine Months Ended April 30, 2023 and 2022

Revenues

Our total revenue was $0 and $100,000 for license revenue for the nine-month periods ended April 30, 2023 and 2022, respectively.

Cost of Goods Sold

Our cost of goods sold was $0 for the nine-month periods ended April 30, 2023 and 2022, respectively.

Operating Expenses (including Selling, General and Administrative Expenses)

For the nine months ended April 30, 2023, our operating expenses decreased to $ 50, 998 from $ 161,887 for the nine months ended April 30, 2022. The decrease was primarily due to decreased professional expenses and royalty fees.

Net Other Income (Expense)

Our net other income (expenses) was $0 for the nine-month periods ended April 30, 2023 and 2022, respectively.

Income Tax Expense

Income tax expense was $0 and $0 for the nine-month period ended April 30, 2023 and 2022, respectively.

Net Loss

As a result of the foregoing factors, we had a net loss of $ (50,998) for the nine months ended April 30, 2023, as compared to $(61,887) for the nine months ended April 30, 2022.

LIQUIDITY AND CAPITAL RESOURCES

At April 30, 2023, we had $ 2,312 in cash, compared to $ 3,198 at July 31, 2022. At April 30, 2023, our accumulated deficit was $120,326,880 compared to $120,275,882 at July 31, 2022. There is substantial doubt as to our ability to continue as a going concern.

~~The Company~~Table has had no cash flow for the fiscal quarters ended April 30, 2023 and 2022 as well as none for the two years ended July 31, 2022 and 2021. In the future, the Company’s cash flow will depend on the timely and successful market entry of ~~the Company’s expected strategic offerings, although we cannot guarantee that we will be successful in our strategic offering efforts.~~Contents

LIQUIDITY AND CAPITAL RESOURCES

At October 31, 2023, we had $423 in cash, compared to $5,280 at July 31, 2022. At October 31, 2023, our accumulated deficit was $120,985,207 compared to $120,978,899 at July 31, 2023 . There is substantial doubt as to our ability to continue as a going concern.

The Company has had ($75) cash flow from operating activities and no cash flow from financing activities for the fiscal quarter ended October 31, 2023 and ($7,349) cash flow from operating activities and $10,000 cash flow from financing activities for the fiscal quarter ended October 31, 2022. In the future, the Company’s cash flow will depend on the timely and successful market entry of the Company’s expected strategic offerings, although we cannot guarantee that we will be successful in our strategic offering efforts.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.

ITEM 4. CONTROLS AND PROCEDURES

Our principal executive and financial officer, Nicholas DeVito, evaluated the effectiveness of our disclosure controls and procedures as of ~~April~~October 3031, 2023. The term “disclosure controls and procedures,” as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act, means controls and other procedures of a company that are designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Securities Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms. Management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives and management necessarily applies its judgment in evaluating the cost-benefit relationship of possible controls and procedures. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Securities Exchange Act is accumulated and communicated to the company’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

Based on that evaluation, as of ~~April~~October 3031, 2023, our interim principal executive and financial officer identified the following material weaknesses:

●

We do not have sufficient and skilled accounting personnel with an appropriate level of technical accounting knowledge and experience in the application of accounting principles generally accepted in the United States commensurate with our financial reporting requirements. To mitigate the current limited resources and limited employees, we rely heavily on the use of external legal and accounting professionals.

Our management has identified the steps necessary to address the material weaknesses, and as soon as we have available funds, we will implement the following remedial procedures:

●

We will hire personnel with technical accounting expertise to further support our current accounting personnel. As necessary, we will continue to engage consultants or outside accounting firms in order to ensure proper accounting for our financial statements.

We intend to complete the remediation of the material weaknesses discussed above as soon as practicable, but we can give no assurance that we will be able to do so. Designing and implementing an effective disclosure controls and procedures is a continuous effort that requires us to anticipate and react to changes in our business and the economic and regulatory environments and to devote significant resources to maintain a financial reporting system that adequately satisfies our reporting obligations. The remedial measures that we have taken and intend to take may not fully address the material weaknesses that we have identified, and material weaknesses in our disclosure controls and procedures may be identified in the future. Should we discover such conditions, we intend to remediate them as soon as practicable. We are committed to taking appropriate steps for remediation, as needed.

Changes in Internal Control over Financial Reporting

As required by Rule 13a-15(d) of the Exchange Act, our management, including our interim principal executive and financial officer, Nicholas DeVito, conducted an evaluation of the internal control over financial reporting to determine whether any changes occurred during the quarter ended ~~April~~October 3031, 2023 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. Based on that evaluation, our acting principal executive and financial officer concluded there were no such changes during the quarter ended ~~April~~October 3031, 2023.

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PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

From time to time, we may become involved in various lawsuits and legal proceedings, which arise, in the ordinary course of business. However, litigation is subject to inherent uncertainties and an adverse result in these, or other matters may arise from time to time that may harm our business. We are currently not aware of any such legal proceedings or claims that we believe will have a material adverse effect on our business, financial condition or operating results.

ITEM 1A. RISK FACTORS.

For a discussion of the risk factors affecting our business, see our annual report on Form 10-K, filed with the Securities and Exchange Commission on October 2531, ~~2022~~2024.

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

During the three-month period ended ~~April~~October 3031, 2023, we did not conduct and unregistered sales of our securities or repurchase any of our common stock.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. MINE SAFETY DISCLOSURES.

Not applicable.

ITEM 5. OTHER INFORMATION.

None.

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ITEM 6. EXHIBITS

The following exhibits are filed as part of this report or incorporated by reference:

Exhibit		Incorporated by Reference			Filed or Furnished
Number	Exhibit Description	Form	Exhibit	Filing Date	Herewith
3.1	Articles of Incorporation.	S-1	3.1	10/25/2010
3.2	Amendment to Articles of Incorporation, dated August 28, 2014.	8-K	3.1	10/30/2014
3.3	Amendment to Articles of Incorporation, dated March 31, 2015.	8-K	3.1	04/08/2015
3.4	Certificate of Amendment by Custodian dated July 1, 2020	10-12g	3.4	10/15/2021
3.5	Certificate of Designation of the Series A Non-Convertible Preferred Stock	10-12g	3.5	10/15/2021
3.6	Bylaws.	S-1	3.2	10/25/2010
31.1/31.2	Certifications of Principal Executive Officer and Principal Financial and Accounting Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002				X
32.1/32.2	Certification of Principal Executive Officer and Principal Financial and Accounting Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002				X
101.INS	Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because XBRL tags are embedded within the Inline XBRL document.				X
101.SCH	Inline XBRL Taxonomy Extension Schema Document				X
101.CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document				X
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document				X
101.LAB	Inline XBRL Taxonomy Extension Label Linkbase Document				X
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document				X
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)				X

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SIGNATURES

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

		POINT OF CARE NANO-TECHNOLOGY, INC.
		(Registrant)
Date: June 12, 2023
Date: December 3, 2024
	By:	/s/ Nicholas DeVito
		Nicholas DeVito
		Chief Executive Officer (Principal Executive and Financial and Accounting Officer)

Filing Compare · Point of Care Nano-Technology, Inc.