UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

[X]

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

For the fiscal year ended March 31, ~~2019~~2020

[ ]	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 333-187874

LUCKWEL PHARMACEUTICALS INC.

(Exact name of registrant as specified in its charter)

Nevada

46-1660653

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer
Identification No.)

~~303~~125 ~~Wyman~~Cambridge StPark Drive, Suite ~~300~~301, ~~Waltham~~Cambridge, MA ~~02451~~02140

(Address of principal executive offices and Zip Code)

(~~781~~617) ~~728 0007~~430-5222

(Registrant’s telephone number, including area code)

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

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
N/A		N/A		N/A

Securities registered pursuant to Section 12(g) of the Exchange Act

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined by Rule 405 of the Securities Act: Yes [ ] No [X]

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act: [ ] Yes [X] No

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 past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. [X] Yes [ ] No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted 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). [X] Yes [ ] No

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

Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [ X] Smaller reporting company [ X] Emerging growth company [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. [ ]

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. [ ]

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

The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant, as of September 30, ~~2018,~~ 2019, the last business day of the registrant’s most recently completed second fiscal quarter, was approximately $4850,~~959~~455,552 based upon the last sales price of the common stock of $4.00 per share on September 2830, ~~2018~~2019 as of such date. Solely for purposes of this disclosure, shares of common stock held by executive officers, directors and beneficial holders of 10% or more of the outstanding common stock of the registrant as of such date have been excluded because such persons may be deemed to be affiliates.

The number of shares of common stock, par value $0.01 outstanding as of ~~July~~May 131, ~~2019~~2021 is ~~143~~147,~~376~~163,~~000~~500.

TABLE OF CONTENTS

		Page
PART I
Item 1.	Business	1
Item 2.	Properties	23
Item 3.	Legal Proceedings	23
Item 4.	Mine Safety Disclosures	23
		2
PART II
Item 5.	Market for Registrant’s Common Equity and Related Stockholder Matters and Issuer Purchases of Equity Securities	3
Item 6.	Selected Financial Data	5
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	56
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	98
Item 8.	Financial Statements and Supplementary Data	108
Item 9.	Changes In and Disagreements With Accountants on Accounting and Financial Disclosure	119
Item 9A.	Controls and Procedures	119
Item 9B.	Other Information	1210
PART III
Item 10.	Directors, Executive Officers and Corporate Governance	1310
Item 11.	Executive Compensation	1513
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	1714
Item 13.	Certain Relationships and Related Transactions, and Director Independence	1915
Item 14.	Principal Accountant Fees and Services	1916
PART IV
Item 15.	Exhibits, Financial Statement Schedules	2017

This Annual Report on Form 10-K contains forward-looking statements that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Annual Report on Form 10-K, including statements regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans, objectives of management and expected market growth, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important 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 the forward-looking statements.

The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,” “target,” “potential,” “contemplate,” “anticipate,” “goals,” “will,” “would,” “could,” “should,” “continue,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among other things, statements about:

	●	our plans to develop and commercialize our product candidates;
	●	the timing of and our ability to submit applications for, and obtain and maintain regulatory approvals for our product candidates;
	●	our estimates regarding expenses, capital requirements, and needs for additional financing;
	●	our intellectual property position and our ability to obtain, maintain and enforce intellectual property protection for our proprietary assets;
	●	our estimates regarding the size of the potential markets for our product candidates and our ability to serve those markets;
	●	the rate and degree of market acceptance of our product candidates for any indication once approved;
	●	our plans and ability to raise additional capital, including through equity offerings, debt financings, collaborations, strategic alliances, and licensing arrangements;
	●	our competitive position and the success of competing products that are or become available for the indications that we are pursuing;
	●	the impact of government laws and regulations in important geographies;
	●	our ability to enter into future collaborations, strategic alliances, or licensing arrangements.

These forward-looking statements are only predictions and we may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements. You should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our business, financial condition and operating results. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments we may make.

You should read this Annual Report on Form 10-K and the documents that we have filed as exhibits to the Annual Report on Form 10-K with the understanding that our actual future results may be materially different from what we expect. We do not assume any obligation to update any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

PART I

Item 1. Business

Business of Company

We were incorporated on January 2, 2013 under the laws of the State of Nevada. Our principal executive offices are located at ~~303~~125 Cambridge ~~Wyman~~Park StDrive, Suite ~~300~~301, ~~Waltham~~Cambridge, MA ~~02451~~02140. Our telephone number is ~~781~~+1 (617) 430-~~728-0007~~5222. Our fiscal year end is March 31.

On March 30, 2017, our name was changed from Luckycom Inc. to Luckycom Pharmaceuticals Inc. and again on April 11, 2018, our name was changed to Luckwel Pharmaceuticals Inc. In connection with the most recent name change, on April 13, 2018, our common stock began trading on the OTC Pink under its new ticker symbol “LWEL” and ceased trading under the ticker symbol “LCOM”. ~~Also~~ onOn April 13, 2018, we increased the number of our authorized shares of common stock from 100,000,000 to 200,000,000 and on January 15, 2021 we increased the number of our authorized shares from 200,000,000 to 500,000,000.

WeAt ~~are~~March ~~presently~~31, 2020 we were still a shell company and ~~have~~had not begun operations. We have no source of revenue and need additional cash resources to maintain the operations. Our ability to continue as a going concern is dependent on our ability to raise additional capital or obtain necessary debt financing. We are presently dependent on our Chief Executive Officer, Mr. Kingrich Lee to either provide us funding for our ~~its~~ daily operation and expenses, including professional fee and fees charged by regulators, although he is under no obligation to do so, or to spearhead financing efforts with third parties.

We currently do not have any arrangements in place to complete any financings and there is no assurance that we will be successful in completing any such financings on terms that will be acceptable.

Our priority, should we receive such additional funds, is to pay our legal, accounting and other fees associated with our Company and our filing obligations under United States federal securities laws, as well as to pay our other accounts payable generated in the ordinary course of our business.

Once these costs are accounted for, we will focus on the following activities:

1.● ~~Establish~~Continue ato ~~management~~work ~~team~~to byestablish ~~December~~a ~~2019~~management team to work on establishing pharmaceutical operations in ~~Waltham/~~the Boston, ~~focusing on hypertension candidate drug (KL-008) and rheumatoid arthritis candidate drug (KL-009); 2~~area. ~~Start~~● Continue intellectual property registration work byfor ~~December~~drug ~~2019~~candidates. ~~3. Penetrate the generic drugs market in Asia.~~

Any failure to raise money will have the effect of delaying the timeframes in the business plan as set forth above, and we may have to push back the dates of such activities.

Going Concern

We were still a shell company and had not yet begun operations as of March 31, 2020. Although management has taken steps since March 31, 2020 to develop the Company, there can be no assurances that it will be successful in doing so. We have no source of revenue and need additional cash resources to maintain the operations. Our ability to continue as a going concern is dependent on our ability to raise additional capital or obtain necessary debt financing. We are presently dependent on our Chief Executive Officer, Mr. Kingrich Lee, to either provide us funding for our daily operation and expenses, including professional fee and fees charged by regulators, although he is under no obligation to do so, or to spearhead financing efforts with third parties.

As reflected in the accompanying financial statements, we have no source of revenue and need additional cash resources to maintain our operations. At March 31, 2020 we had current assets of $17,213, liabilities totaling $1,345,468, have incurred losses since inception of $3,227,773, and have not yet received any revenue from sales of products or services. These factors raise substantial doubt about our ability to continue as a going concern. Our ability to continue as a going concern is dependent on our ability to raise additional capital or obtain necessary debt financing. We are presently dependent on our controlling shareholder to provide us funding for our daily operation and expenses, including professional fees and fees charged by regulators, although he is under no obligation to do so.

Any failure to raise additional funds will have the effect of delaying the timeframes as described in our business plan as set forth above, and we may have to push back the dates or modify the scope of such planned activities.

In March 2020, the World Health Organization declared the global novel coronavirus disease 2019 (COVID-19) outbreak a pandemic. As the Company was still a shell company at March 31, 2020, the Company’s operations have not been significantly impacted financially by the COVID-19 outbreak other than to delay the Company’s plans to develop the business and raise required funds. The Company cannot at this time predict the specific extent, duration, or full impact that the COVID-19 outbreak will have on its financial condition and ability to raise additional capital to finance future planned operations.

Management has been taking steps to improve the financial position of the Company. Subsequent to the year end of March 31, 2020, in January 2021, we sold 300,000 shares of our common stock at a purchase price of $0.40 per share for net proceeds of $120,000. In February 2021, $1.2 million of Company liabilities that was owed to Mr. Kingrich Lee were converted into 3,000,000 shares of our common stock at a conversion price of $0.40 per share. In April 2021, the Company sold 300,000 shares of its common stock at a purchase price of $0.40 per share for total gross proceeds of $120,000. In May 2021, the Company sold 187,500 shares of its common stock at a purchase price of $0.40 per share for total gross proceeds of $75,000.

Intellectual Property

In May 2018, the Company entered into an Intellectual Property Sale and Purchase Agreement with Luckwel Asia Limited (the “Seller”, formerly known as Essential Choice Ventures Ltd), an entity under common control of Mr. Kingrich Lee to purchase from the Seller the intellectual property rights to five drugs, comprising three generic medicines used to treat hypertension and high cholesterol and two advanced drug candidates - KL008 for treatment of hypertension and KL009 for treatment of high cholesterol in various stages of being developed and manufactured.

On February 5, 2021, Mr. Kingrich Lee, our CEO executed a Deed of Gift to irrevocably and unconditionally give, transfer, and assign, by way of give, without limitations or restrictions, to us all of his right, tile and interest in, arising from the following drug programs:

Program Code	Patent No.	Filing Date	Description
LWEL-2101	63/086,205	October 5, 2020	Rapid Disintegrating dosage form comprising Fosamprenavir
LWEL-2102	63/134,881	January 7, 2021	Rapid Disintegrating dosage form comprising Metformin Hydrochloride
LWEL-2103	62/992,693	March 20,2020	Combination Therapy for treating COVID-19

On March 19, 2021, Mr. Lee executed another Deed of Gift to irrevocably and unconditionally give, transfer and assign, by way of gift, without limitation or restriction, to us all of his right, title and interest in, arising from and to the following drug programs:

Program Code	Description
KL-2118	Candidate drug to be developed into orally disintegrating tablets (ODT) to treat Type 2 diabetes.
KL-2119	Candidate drug to be developed into an oral formulation treatment of HIV
KL-2120	Candidate drug to be developed into a liquid injection for the treatment of Rheumatoid Arthritis

Sales and Marketing

Given our current stage of development, we have not yet established commercial organization or distribution capabilities, nor have we ~~entered~~ entered into any partnership or co-promotion arrangements with an established pharmaceutical company. ~~We plan to build up an international network after we achieve our financial targets.~~

Competition

The industry we ~~plan~~are ~~to be~~ in is highly competitive and subject to rapid and significant technological change. Key competitive factors ~~affecting~~ affecting the commercial success of our products are likely to be efficacy, safety and tolerability profile, reliability, convenience of dosing, price and reimbursement. Many of these competitor companies have substantially greater financial, marketing, and human resources ~~than~~ than we do (including, in some cases, substantially greater experience in clinical testing, manufacturing, and marketing of pharmaceutical products).

Employees

WeAs of March 31, 2020 and as of the date of this filing, we do not have any employees, other than Mr. Kingrich Lee.

Item 1A. Risk Factors

Not applicable.

Item 1B. Unresolved Staff Comments

None.

Item 2. Properties

Our principal executive office is located at ~~303~~125 ~~Wyman~~Cambridge StPark Drive, Suite ~~300~~301, ~~Waltham~~Cambridge, MA ~~02451~~02140, which is leased by us.

Item 3. Legal Proceedings

We are not a party to any pending legal proceeding. We are not aware of any pending legal proceeding to which any of our officers, directors, or any beneficial holders of 5% or more of our voting securities are adverse to us or have a material interest adverse to us.

Item 4. Mine Safety Disclosures

Not applicable.

PART II

Item 5. Market for Registrant’s Common Equity and Related Stockholder Matters and Issuer Purchases of Equity Securities

Our common stock used to be quoted under the symbol “LCOM” on the OTC Pink operated by OTC Markets Group, Inc. On April 11, 2018, our name was changed to Luckwel Pharmaceuticals Inc. and in connection with the most recent name change, on April 13, 2018, our common stock began trading on the OTC Pink under its new ticker symbol “LWEL”.

There has been very little trade in our shares of common stock in fiscal ~~2018~~2020 and 2019. The table below presents the high and low bid for our common stock for each quarter from April 1, ~~2018~~2019 through March 31, ~~2019~~2020. These prices reflect inter-dealer prices, without retail markup, markdown, or commission, and may not represent actual transactions.

Year ended March 31, 2018	High		Low
1st Quarter	$	2.00	$	2.00
2nd Quarter	$	1.85	$	1.80
3rd Quarter	$	1.96	$	1.56
4th Quarter	$	3.50	$	1.90

Year ended March 31, 2019	High		Low
1st Quarter	$	4.00	$	3.50
2nd Quarter	$	5.00	$	3.26
3rd Quarter	$	—	$	—
4th Quarter	$	—	$	—

Year ended March 31, 2020		High		Low
1st Quarter	$	—	$	—
2nd Quarter	$	—	$	—
3rd Quarter	$	—	$	—
4th Quarter	$	—	$	—

There is no assurance that a regular trading market will develop, or if developed, that it will be sustained. Therefore, a shareholder may be unable to resell his securities in our company.

Penny Stock

The Securities and Exchange Commission (the “SEC”) has adopted rules that regulate broker-dealer practices in connection with transactions in penny stocks. Penny stocks are generally equity securities with a market price of less than $5.00, other than securities registered on certain national securities exchanges or quoted on the NASDAQ system, provided that current price and volume information with respect to transactions in such securities is provided by the exchange or system. The penny stock rules require a broker-dealer, prior to a transaction in a penny stock, to deliver a standardized risk disclosure document prepared by the SEC, that: (a) contains a description of the nature and level of risk in the market for penny stocks in both public offerings and secondary trading; (b) contains a description of the broker’s or dealer’s duties to the customer and of the rights and remedies available to the customer with respect to a violation of such duties or other requirements of the securities laws; (c) contains a brief, clear, narrative description of a dealer market, including bid and ask prices for penny stocks and the significance of the spread between the bid and ask price; (d) contains a toll-free telephone number for inquiries on disciplinary actions; (e) defines significant terms in the disclosure document or in the conduct of trading in penny stocks; and (f) contains such other information and is in such form, including language, type size and format, as the SEC shall require by rule or regulation.

The broker-dealer also must provide, prior to effecting any transaction in a penny stock, the customer with (a) bid and offer quotations for the penny stock; (b) the compensation of the broker-dealer and its salesperson in the transaction; (c) the number of shares to which such bid and ask prices apply, or other comparable information relating to the depth and liquidity of the market for such stock; and (d) a monthly account statement showing the market value of each penny stock held in the customer’s account.

In addition, the penny stock rules require that prior to a transaction in a penny stock not otherwise exempt from those rules, the broker-dealer must make a special written determination that the penny stock is a suitable investment for the purchaser and receive the purchaser’s written acknowledgment of the receipt of a risk disclosure statement, a written agreement as to transactions involving penny stocks, and a signed and dated copy of a written suitability statement.

These disclosure requirements may have the effect of reducing the trading activity for our common stock. Therefore, stockholders may have difficulty selling our securities.

Holders of Our Common Stock

As of ~~July~~May 131, ~~2019~~2021, we had ~~143~~147,~~376~~163,~~000~~500 shares of our common stock issued and outstanding, held by 4153 shareholders of record.

Dividends

There are no restrictions in our articles of incorporation or bylaws that prevent us from declaring dividends. The Nevada Revised Statutes, however, do prohibit us from declaring dividends where after giving effect to the distribution of the dividend:

	1.	we would not be able to pay our debts as they become due in the usual course of business, or;

	2.	our total assets would be less than the sum of our total liabilities plus the amount that would be needed to satisfy the rights of shareholders who have preferential rights superior to those receiving the distribution.

We have not declared any dividends and we do not plan to declare any dividends in the foreseeable future.

Recent Sales of Unregistered Securities

~~None~~On January 12, 2021, we completed a private placement offering of 300,000 shares of our common stock at a price of $0.40 per share for total proceeds to the Company of $120,000 to an investor in an offering that had not been registered under the United States Securities Act of 1933, as amended (the “Securities Act”) and that had not been reported on our previously filed periodic reports filed under the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”) pursuant to Rule 903 of Regulation S of the Securities Act.

We completed the offering of the shares pursuant to Rule 903 of Regulation S of the Securities Act on the basis that the sale of the shares was completed in “offshore transactions”, as defined in Rule 902(h) of Regulation S. We did not engage in any “directed selling efforts”, as defined in Regulation S, in the United States in connection with the sale of the shares. The investor represented to us that she was not a U.S. person, as defined in Regulation S, and was not acquiring the shares for the account or benefit of a U.S. person.

On February 11, 2021, we converted $1.2 million of the total amount of $1,269,580 we owed to our Chief Executive Officer, Mr. Kingrich Lee, into 3,000,000 shares of our common stock at a price of $0.40 per share.

The issuance of Company common stock to Mr. Lee was exempt from registration pursuant to the provisions of Section 4(a)(2) of the Securities Act, as amended and Rule 506 of Regulation D promulgated thereunder. Mr. Lee represented to us that he (i) was an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated under the Securities Act, (ii) was knowledgeable, sophisticated and experienced in making investment decisions of this kind, and (iii) has had adequate access to information about the Company. Further, the Company relied on the exemptions from registration under Section 4(a)(2) of the Securities Act of 1933, as amended and Regulation S under the Securities Act for purposes of the private placement of the shares of common stock as such shares have not been offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act) or persons in the United States.

On April 20, 2021, we completed a private placement offering of 300,000 shares of our common stock at a price of $0.40 per share for total gross proceeds to the Company of $120,000 to a group of investors in an offering that had not been registered under the United States Securities Act of 1933, as amended (the “Securities Act”) and that had not been reported on our previously filed periodic reports filed under the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”) pursuant to Rule 903 of Regulation S of the Securities Act.

We completed the offering of the shares pursuant to Rule 903 of Regulation S of the Securities Act on the basis that the sale of the shares was completed in “offshore transactions”, as defined in Rule 902(h) of Regulation S. We did not engage in any “directed selling efforts”, as defined in Regulation S, in the United States in connection with the sale of the shares. The investors represented to us that they were not U.S. persons, as defined in Regulation S, and were not acquiring the shares for the account or benefit of a U.S. person.

In May 2021, we completed a private placement offering of 187,500 shares of our common stock at a price of $0.40 per share for total gross proceeds to the Company of $75,000 to an investor in an offering that had not been registered under the United States Securities Act of 1933, as amended (the “Securities Act”) and that had not been reported on our previously filed periodic reports filed under the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”) pursuant to Rule 903 of Regulation S of the Securities Act.

We completed the offering of the shares pursuant to Rule 903 of Regulation S of the Securities Act on the basis that the sale of the shares was completed in “offshore transactions”, as defined in Rule 902(h) of Regulation S. We did not engage in any “directed selling efforts”, as defined in Regulation S, in the United States in connection with the sale of the shares. The investors represented to us that they were not U.S. persons, as defined in Regulation S, and were not acquiring the shares for the account or benefit of a U.S. person.

Securities Authorized for Issuance under Equity Compensation Plans

We dodid not have any equity compensation plans as of March 31, 2020.

Stock Option and Warrants

None.

Repurchase of Equity Securities by Luckwel Pharmaceuticals, Inc. and Affiliated Purchasers

None.

Stock Transfer Agent

Our stock transfer agent is VStock Transfer, LLC, whose address is 18 Lafayette Place, Woodmere, New York 11598 (Telephone number: (212) 828-8436).

Item 6. Selected Financial Data

A smaller reporting company is not required to provide the information required by this Item.

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements

Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements generally are identified by the words “believes,” “project,” “expects,” “anticipates,” “estimates,” “intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. We intend such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of complying with those safe-harbor provisions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations and future prospects include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Further information concerning our business, including additional factors that could materially affect our financial results, is included herein and in our other filings with the SEC.

Overview

AsAt ~~reflected~~March ~~in the accompanying financial statements~~31, 2020 we ~~have~~were nostill ~~source~~a ofshell ~~revenue~~company and ~~need~~had ~~additional~~not ~~cash~~yet ~~resources~~begun ~~to maintain our~~ operations. We have ~~$25,754~~no insource ~~cash and a working capital deficit~~ of ~~$791,823,~~revenue ~~have incurred losses since inception of $2,691,341,~~ and ~~have~~need ~~not~~additional ~~yet received any revenue from sales of products or services. These factors raise substantial~~cash ~~doubt~~resources ~~about our ability~~ to ~~continue~~maintain asthe ~~a going concern~~operations. Our ability to continue as a going concern is dependent on our ability to raise additional capital or obtain necessary debt financing. We are presently dependent on our ~~controlling~~Chief ~~shareholder~~Executive Officer, Mr. Kingrich Lee to either provide us us funding for ~~our~~its daily operation and expenses, including professional fee and fees charged by regulators, although he is under no obligation to do so, or to spearhead financing efforts with third parties.

We are presently still a shell company and have not begun operations. We have no source of revenue and need additional cash resources to maintain the operations. Our ability to continue as a going concern is dependent on our ability to raise additional capital or obtain necessary debt financing. We are presently dependent on our Chief Executive Officer, Mr. Kingrich Lee, to either provide us funding for its daily operation and expenses, including professional fee and fees charged by regulators, although he is under no obligation to do so, or to spearhead financing efforts with third parties.

We currently do not have any arrangements in place to complete any financings and there is no assurance that we will be successful in completing any such financings on terms that will be acceptable.

Once these costs are accounted for, we will focus on the following activities:

Any failure to raise money will have the effect of delaying the timeframes in ~~our~~the business plan as set forth above, and we may have to push back the dates of such activities.

Going Concern

As of March 31, 2020, we were a shell company and had not yet begun operations. We have no source of revenue and need additional cash resources to maintain the operations. Our ability to continue as a going concern is dependent on our ability to raise additional capital or obtain necessary debt financing. We are presently dependent on our Chief Executive Officer, Mr. Kingrich Lee, to either provide us funding for its daily operation and expenses, including professional fee and fees charged by regulators, although he is under no obligation to do so, or to spearhead financing efforts with third parties.

At March 31, 2020 we had current assets of $17,213, liabilities totalling $1,345,468, have incurred losses since inception of $3,227,773, and have not yet received any revenue from sales of products or services. These factors raise substantial doubt about our ability to continue as a going concern. Our ability to continue as a going concern is dependent on our ability to raise additional capital or obtain necessary debt financing. We are presently dependent on our controlling shareholder to provide us funding for our daily operation and expenses, including professional fee and fees charged by regulators, although he is under no obligation to do so.

Any failure to raise additional funds will have the effect of delaying the timeframes as described in our business plan as set forth above and elsewhere in this Annual Report on Form 10-K, and we may have to push back the dates or modify the scope of such planned activities.

~~Results~~In ofMarch ~~Operations~~2020, ~~for~~the World Health Organization declared the ~~Years~~global ~~Ended~~novel coronavirus disease 2019 (COVID-19) outbreak a pandemic. As the Company was still a shell company at March 31, ~~2019~~2020, the Company’s operations have not been significantly impacted financially by the COVID-19 outbreak other than to delay the Company’s plans to develop the business and ~~March~~raise 31required funds. The Company cannot at this time predict the specific extent, ~~2018~~duration, or full impact that the COVID-19 outbreak will have on its financial condition and ability to raise additional capital to finance future planned operations.

~~Operating~~Management ~~Revenue~~has been taking steps to improve the financial position of the Company. Subsequent to March 31, 2020, in January 2021, we sold 300,000 shares of our common stock at $0.40 per share for gross proceeds of $120,000. In February 2021, $1.2 million of Company debt that was owed to Mr. Kingrich Lee was converted into 3,000,000 shares of our common stock at a conversion price of $0.40 per share. In April 2021, the Company sold 300,000 shares of its common stock at a purchase price of $0.40 per share for total gross proceeds of $120,000. In May 2021, the Company sold 187,500 shares of its common stock at a purchase price of $0.40 per share for total gross proceeds of $75,000.

WeResults ~~recorded~~of noOperations ~~revenue~~ for the ~~years~~Years ~~ended~~Ended March 31, ~~2019~~2020 and March 31, ~~2018, as we are a shell company without any operations to generate revenue. We do not anticipate receiving further revenue for so long as we have no operations.~~2019

~~Operating~~General and Administrative Expenses

WeAs ~~had~~we ~~operating~~were ~~expenses~~a ofshell ~~$622~~company without operations during the years ended March 31,~~531~~ 2020 and ~~$533~~2019,~~260~~ our expenses were primarily general and administrative related. We recognized general and administrative expenses for the years ended March 31, 2020 and 2019 of $536,432 and ~~2018~~$622,531, respectively.

Our operating expenses for the year ended March 31, ~~2019~~2020 consisted ~~mainly~~primarily of officer compensation of $~~267~~286,~~277~~547, professional fees of ~~$247,282,~~ ~~office operating expenses of~~ $19185,~~421~~393, travel expenses of $8537,~~263~~849 and rent and office operating expenses of $311,~~288~~266.

Our operating expenses for the year ended March 31, ~~2018~~2019 consisted ~~mainly~~primarily of officer compensation of $~~224~~267,~~794~~277, professional fees of $~~230~~247,~~648~~282, travel ~~office operating~~ expenses of $1796,~~943~~053, ~~travel~~and ~~expenses~~rent ofand ~~$39,004~~office ~~and~~operating ~~rent~~expenses of $206,~~871~~658.

We anticipate our operating expenses will increase sharply as we proceed to implement our business plan described above and become operational.

Other Income (Expenses)

WeOur ~~had other~~ income ~~of $5 and $295~~ for the years ended March 31, ~~2019~~2020 and ~~2018,~~2019 ~~respectively~~was immaterial.

Net Loss

We incurred a net loss of $~~622~~536,~~526~~432 for the year ended March 31, ~~2019~~2020, as compared with a net loss of $~~537~~622,~~088~~526 for the year ended March 31, ~~2018~~ 2019.

Capital Resources and Liquidity

As of March 31, ~~2019~~2020, we had $2717,~~270~~213 in current assets, consisting of $~~25,754~~44 in cash and $117,~~516~~169 in prepaid expense, and current ~~liabilities~~ liabilities in the amount of $~~819~~1,~~093~~345,468, consisting of other payable and accrued liabilities of $6778,~~843~~163, accrued officer compensation of $144,000, and $~~751~~1,~~250~~ 123,305 due to an officer. We had a working capital deficit of $~~791~~1,~~823~~328,255 as of March 31, ~~2019~~2020.

The table below sets forth selected cash flow data for the periods presented:

	For The Years Ended
	Year Ended
	March 31
	2019			2018
	2020			2019
Net cash used in operating activities	$	(~~622~~397,~~242~~765	)	$	(~~515~~622,~~618~~242	)
Net cash provided by investing activities		-			5-
Net cash provided by financing activities		~~629~~372,~~493~~055			~~504~~629,~~703~~493
Net decrease in cash	$	7,251		$	(10,910	)
Net (decrease) increase in cash	$	(25,710	)	$	7,251

Our negative operating cash flows were mainly a result of operating expenses (See ~~also~~ Result of Operations).

Our positive financing cash flows were a result of proceeds from officer loans.

On November 1, ~~2017~~2018, ~~the~~we ~~Company~~ entered into ananother new one-year employment agreement with Mr. Kingrich Lee. ~~The~~to ~~agreement~~continue ishis ~~for~~employment ~~one~~as ~~year,~~our ~~renewable~~Chief ~~for~~Executive ~~successive~~Officer ~~one~~through October 31, 2019 and continuing on a year-to-year ~~terms~~basis ifthereafter ~~not~~unless terminated, ~~and~~by ~~provides~~either anparty ~~annual~~on ~~compensation~~not less than thirty (30) days notice prior to the expiration of the one-year extension anniversary. His salary is $180,000, ~~and~~a ~~other~~year. ~~benefits~~Additionally, ~~including~~ ~~housing~~he ~~and~~shall ~~education~~be ~~allowances.~~entitled Onto ~~November~~an 1,education ~~2018,~~allowance ~~the~~for ~~Company~~his ~~renewed~~children ~~the~~who ~~employment~~are ~~agreement~~attending ~~with~~full-time ~~Mr.~~local ~~Kingrich~~education ~~Lee~~from ~~for another~~kindergarten ~~one-year~~to ~~term.~~senior secondary ~~This~~levels ~~agreement~~in ~~will~~any ~~materially~~type ~~impact~~of ~~our~~school ~~cash~~and ~~needs~~a inhousing ~~the~~allowance ~~future~~of $3,000 asa ~~any~~month. ~~investment~~Upon ~~money~~termination weof ~~obtain~~Mr. ~~will~~Lee’s employment, except befor ~~used~~termination tofor ~~pay~~cause or termination by Mr. ~~Kingrich~~ Lee, he shall be entitled to a payment equal to two (2) months’s salary ~~and~~($30,000 at ~~other~~March ~~benefits~~31, 2020) and ~~will~~shall ~~have~~also ~~the~~be ~~effect~~eligible ofto ~~diverting~~retain ~~funds~~his ~~that~~other ~~may~~benefits befor ~~used to~~a ~~pursue~~period ~~our~~of ~~business~~six ~~plan~~(6) months.

~~Despite~~We ~~having $25,754 in cash as of March 31, 2019, we~~ have insufficient cash to operate our business at the current level for the next 12 months from the issuance date of this report and insufficient cash to achieve our business goals. The success of our business plan beyond the next 12 months from the issuance date of this report is contingent upon us obtaining additional financing. We intend to fund operations through debt and/or equity financing arrangements, which may be insufficient to fund our capital expenditures, working capital, or other cash requirements. We do not have any formal commitments or arrangements for the sale of stock or the advancement of loans of funds at this time. There can be no assurance that such additional financing will be available to us on acceptable terms, or at all.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements.

Critical Accounting Policies and Estimates

Our ~~financial~~management’s ~~statements~~discussion ~~are~~and ~~affected~~analysis byof ~~the~~our ~~accounting~~financial ~~policies~~condition ~~used~~ and ~~the~~results ~~estimates~~of ~~and~~operations ~~assumptions~~are ~~made~~based byon ~~management~~our ~~during~~financial statements, ~~their~~which ~~preparation~~have been prepared in accordance with U.S. Agenerally ~~complete~~accepted ~~listing~~accounting principles. The preparation of these ~~policies~~financial isstatements requires ~~included~~us into ~~Note~~make 1judgments and estimates that affect the reported amounts of assets, liabilities, expenses, and the ~~notes~~disclosure toof contingent assets and liabilities in our financial statements. ~~for~~We ~~year ended~~base ~~March~~our ~~31,~~estimates ~~2019.~~on Wehistorical ~~have~~experience, ~~identified~~known ~~below~~trends ~~the~~and ~~accounting~~events, and ~~policies~~various other factors that are ofbelieved ~~particular~~to ~~importance~~be inreasonable under the ~~presentation~~circumstances. ofActual results may differ from these estimates ~~our~~under ~~financial~~different ~~position~~assumptions or conditions. On an ongoing basis, ~~results~~we ofevaluate ~~operations~~our judgments and ~~cash~~estimates ~~flows~~in light of changes in circumstances, facts and ~~which~~experience. ~~require~~The effects of material revisions in estimates, if any, will be reflected in the ~~application~~financial ofstatements ~~significant~~prospectively from ~~judgment~~the bydate ~~management~~of change in estimates.

While our significant accounting policies are described in more detail in the notes to our financial statements appearing elsewhere in this Annual Report on Form 10-K, we believe the following accounting policies used in the preparation of our financial statements require the most significant judgments and estimates.

Income Taxes

Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and ~~liabilities~~ liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. ~~The Company was in process of tax filings for the 2018 fiscal year up until the issuance of this report.~~

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Recent Accounting Pronouncements

See Note 12 to our financial statements included herewith.

Going Concern

We have no source of revenues and need additional cash resources to maintain the operations. We have $25,754 in cash and a working capital deficit of $791,823, have incurred losses since inception of $2,691,341, and have not yet received any revenue from sales of products or services. These factors raise substantial doubt about our ability to continue as a going concern. Our ability to continue as a going concern is dependent on our ability to raise additional capital or obtain necessary debt financing.

We are presently dependent on our Chief Executive Officer, Mr. Kingrich Lee to either provide us funding for our daily operation and expenses, including professional fee and fees charged by regulators, although he is under no obligation to do so, or to spearhead financing efforts with third parties.

We currently do not have any arrangements in place to complete any financings and there is no assurance that we will be successful in completing any such financings on terms that will be acceptable.

Our priority, should we receive such additional funds is to pay our legal, accounting and other fees associated with our Company and our filing obligations under United States federal securities laws, as well as to pay our other accounts payable generated in the ordinary course of our business.

Once these costs are accounted for, we will focus on the following activities:

1. Establish a management team by December 2019 to work on establishing pharmaceutical operations in Waltham/Boston, focusing on hypertension candidate drug (KL-008) and rheumatoid arthritis candidate drug (KL-009). 2. Start intellectual property registration work by December 2019. 3. Penetrate the generic drugs market in Asia.

Any failure to raise money will have the effect of delaying the timeframes in the business plan as set forth above, and the Company may have to push back the dates of such activities.

The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses and further losses are anticipated as a result of the development of business which raises substantial doubt about the Company’s ability to continue as a going concern within the next twelve months from the issuance date of the financial statements. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining financing necessary to meet the Company’s obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and/or private placement of the Company’s common stock.

Item 7A. Quantitative and Qualitative Disclosures About Market Risk

A smaller reporting company is not required to provide the information required by this Item.

Item 8. Financial Statements and Supplementary Data

Index to Financial Statements Required by Article 8 of Regulation S-X:

F-1	Report of Independent Registered Public Accounting Firm – Marcum LLP
F-2	~~Report~~Balance ofSheets ~~Independent~~as ~~Registered~~of ~~Public~~March ~~Accounting~~31, ~~Firm~~2020 –and ~~Marcum Berstein Pinchuk LLP~~2019
F-3	~~Balance~~Statements ~~Sheet~~of asOperations offor the Years Ended March 31, ~~2019~~2020 and ~~2018~~2019
F-4	~~Statement~~Statements of ~~Operations~~Changes in Stockholders’ Deficit for the Years Ended March 31, ~~2019~~2020 and ~~2018~~2019
F-5	~~Statement~~Statements of ~~Changes~~Cash inFlows ~~Stockholders’ Deficit~~ for the Years Ended March 31, ~~2019~~2020 and ~~2018~~2019
F-6	~~Statement~~Notes ofto ~~Cash~~Financial ~~Flows for the Years Ended March 31, 2019 and 2018~~Statements
F-7	Notes to Financial Statements

108

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and Board of Directors of

Luckwel Pharmaceuticals Inc.

Opinion on the Financial Statements

We have audited the accompanying balance ~~sheet~~sheets of Luckwel Pharmaceuticals Inc. (the “Company”) as of March 31, 2020 and 2019, the related statements of operations, changes in stockholders’ deficit and cash flows for the ~~year~~years ended March 31, 2020 and 2019, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of March 31, 2020 and 2019, and the results of its operations and its cash flows for the ~~year~~years ended March 31, 2020 and 2019, in conformity with accounting principles generally accepted in the United States of America.

Explanatory Paragraph – Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As more fully ~~described~~ described in Note 23, the Company has a significant working capital deficiency, has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 23. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our ~~audit~~audits. We are a public accounting firm registered with the Public ~~Company~~ Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the ~~Company~~ Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange ~~Commission~~ Commission and the PCAOB.

We conducted our ~~audit~~audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the ~~audit~~ audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over ~~financial~~ financial reporting. As part of our ~~audit~~audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our ~~audit~~audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, ~~evidence~~ evidence regarding the amounts and disclosures in the financial statements. Our ~~audit~~audits also included evaluating the accounting ~~principles~~ principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our ~~audit~~audits provide a reasonable basis for our opinion.

/s/ Marcum llp
Marcum llp

We have served as the Company’s auditor since 2019.

~~Marcum~~Portland, ~~Bernstein & Pinchuk served as the Company’s auditor from 2017 to 2019~~Maine

~~Boston~~June 10, ~~Massachusetts~~ 2021

July 1, 2019

F-1

~~REPORT~~LUCKWEL OFPHARMACEUTICALS ~~INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM~~INC.

ToBALANCE ~~the Shareholders and Board of Directors of~~SHEETS

~~Luckwel~~As ~~Pharmaceuticals~~of ~~Inc.~~March 31, 2020 and 2019

Opinion on the Financial Statements

	March 31
	2020			2019
Assets
Current Assets
Cash	$	44		$	25,754
Prepaid expense and other current assets		17,169			1,516
Total Assets		17,213			27,270

Liabilities
Current Liabilities:
Other payable and accrued liabilities	$	78,163		$	67,843
Accrued officer compensation		144,000			-
Due to officer		1,123,305			751,250
Total Liabilities		1,345,468			819,093

Stockholders’ Deficit:
Common stock, $0.01 par value; 200,000,000 shares authorized; 143,376,000 shares issued and outstanding as of March 31, 2020 and 2019		1,433,760			1,433,760
Additional paid in capital		465,748			465,748
Accumulated other comprehensive income		10			10
Accumulated deficit		(3,227,773	)		(2,691,341	)
Total stockholders’ deficit		(1,328,255	)		(791,823	)
Total Liabilities and Stockholders’ Deficit	$	17,213		$	27,270

WeThe ~~have audited the~~ accompanying ~~consolidated~~notes ~~balance~~are ~~sheet~~an ofintegral ~~Luckwel~~part ~~Pharmaceuticals Inc. (the “Company”) as~~ of ~~March 31,~~these ~~2018, the related consolidated statements of operations, changes in stockholders’ deficit and cash flows for the year then ended, and the related notes (collectively referred to as the “~~financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of March 31, 2018, and the results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

Explanatory Paragraph – Going Concern

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As more fully described in Note 2, the Company has a significant working capital deficiency, has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 2. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

/s/ Marcum Bernstein &Pinchuk llp

Marcum Bernstein &Pinchuk llp

We have served as the Company’s auditor from 2017 to 2019

New York, New York

July 13, 2018

NEW YORK OFFICE • 7 Penn Plaza • Suite 830 • New York, New York • 10001

Phone 646.442.4845 • Fax 646.349.5200 • www.marcumbp.com

F-2

LUCKWEL PHARMACEUTICALS INC.

~~BALANCE~~STATEMENTS ~~SHEET~~OF OPERATIONS

~~(Stated~~FOR inTHE USYEARS ~~Dollars~~ENDED ~~except~~MARCH ~~share~~31, ~~amounts)~~2020 AND 2019

	March 31, 2019			March 31, 2018
	2020			2019
Assets
General and administrative expenses	$	(536,432	)	$	(622,531	)
Current Assets
Other Income		-			5
Cash	$	25,754		$	18,503
Net Loss	$	(536,432	)	$	(622,526	)
Prepaid expense and other current assets		1,516			-
Net loss per share – basic and diluted	$	(0.004	)	$	(0.005	)
Total Assets		27,270			18,503
Weighted average common shares – basic and diluted		143,376,000			132,074,630
Liabilities
Current Liabilities:
Other payable and accrued liabilities	$	67,843		$	66,043
Due to officer		751,250			81,757
Total Liabilities		819,093			147,800
Stockholders’ Deficit:
Common stock, $0.01 par value; 200,000,000 and 100,000,000 shares authorized; 143,376,000 and 18,376,000 shares issued and outstanding as of March 31, 2019 and 2018, respectively.		1,433,760			183,760
Additional paid in capital		465,748			1,715,748
Accumulated other comprehensive income		10			10
Accumulated deficit		(2,691,341	)		(2,028,815	)
Total stockholders’ deficit		(791,823	)		(129,297	)
Total Liabilities and Stockholders’ Deficit	$	27,270		$	18,503

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

F-3

LUCKWEL PHARMACEUTICALS INC.

~~STATEMENT~~STATEMENTS OF ~~OPERATIONS~~CHANGES IN STOCKHOLDERS’ DEFICIT

~~(Stated~~FOR inTHE USYEARS ~~Dollars~~ENDED ~~except~~MARCH ~~share~~31, ~~and~~2020 ~~per~~AND ~~share amounts)~~2019

	For the year ended			For the year ended
	Common Stock						Additional Paid-in			Accumulated other Comprehensive		Accumulated			Total Stockholders’
	March 31, 2019			March 31, 2018
	Shares			Amount			Capital			Income		Deficit			Deficit
General and administrative expenses	$	(622,531	)	$	(533,260	)
Balance as of April 1, 2018		18,376,000		$	183,760		$	1,715,748		$	10	$	(2,028,815	)	$	(129,297	)
Other Income		5			295
Common stock issued for service		125,000,000			1,250,000			(1,250,000	)		-		-			-
Loss on disposal of a subsidiary		-			(4,123	)
Capital distribution		-			-			-			-		(40,000	)		(40,000	)
Net Loss	$	(622,526	)	$	(537,088	)
Net loss		-			-			-			-		(622,526	)		(622,526	)
Net loss per share – basic and diluted	$	(0.005	)	$	(0.029	)
Balance as of March 31, 2019		143,376,000		$	1,433,760		$	465,748		$	10		(2,691,341	)		(791,823	)
Weighted average common shares – basic and diluted		132,074,630			18,304,082
Net loss		-			-			-			-		(536,432	)		(536,432	)
Balance as of March 31, 2020		143,376,000		$	1,433,760		$	465,748		$	10	$	(3,227,773	)	$	(1,328,255	)

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

F-4

LUCKWEL PHARMACEUTICALS INC.

~~STATEMENT~~STATEMENTS OF ~~CHANGES~~CASH ~~IN STOCKHOLDERS’ DEFICIT~~FLOWS

~~(Stated~~FOR inTHE USYEARS ~~Dollars~~ENDED ~~except~~MARCH ~~share~~31, ~~amounts)~~2020 AND 2019

	Common Stock						Additional Paid-in			Accumulated other Comprehensive		Accumulated			Total Stockholders’
	2020			2019
	Shares			Amount			Capital			Income		Deficit			Deficit
Cash Flows from Operating Activities
Balance as of March 31, 2017		17,626,000		$	176,260		$	973,248		$	10		(1,491,727	)		(342,209	)
Net loss	$	(536,432	)	$	(622,526	)
Common stock issued for cash		422,946			4,229			418,717			-		-			422,946
Adjustment to reconcile net loss to net cash used in operating activities:
Common stock issued to officer for debt repayment		327,054			3,271			323,783			-		-			327,054
Changes in operating assets and liabilities:
Net loss		-			-			-			-		(537,088	)		(537,088	)
Prepaid expense and other current assets		(15,653	)		(1,516	)
Balance as of March 31, 2018		18,376,000		$	183,760		$	1,715,748		$	10	$	(2,028,815	)	$	(129,297	)
Other payable and accrued liabilities		10,320			1,800
Common stock issued for service		125,000,000			1,250,000			(1,250,000	)		-		-			-
Accrued officer compensation		144,000			-
Capital distribution		-			-			-			-		(40,000	)		(40,000	)
Net cash flow used in operating activities		(397,765	)		(622,242	)
Net loss		-			-			-			-		(622,526	)		(622,526	)
Cash Flows from Investing Activities
Balance as of March 31, 2019		143,376,000		$	1,433,760		$	465,748		$	10	$	(2,691,341	)	$	(791,823	)
		-			-
Net cash flow provided by investing activities		-			-
Cash Flows from Financing Activities
Proceeds from officer loans		372,055			669,493
Capital distribution		-			(40,000	)
Net cash flow provided by financing activities		372,055			629,493
Net (decrease) increase in cash		(25,710	)		7,251
Cash, beginning of period		25,754			18,503
Cash, End of period	$	44		$	25,754
Supplemental disclosures of cash flow information:
Cash paid for interest expense	$	-		$	-
Cash paid for income taxes	$	-		$	-

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

F-5

LUCKWEL PHARMACEUTICALS INC.

STATEMENT OF CASH FLOWS

(Stated in US Dollars)

	For the Years Ended
	March 31
	2019			2018
Cash Flows from Operating Activities
Net loss	$	(622,526	)	$	(537,088	)
Adjustment to reconcile net loss to net cash used in operating activities:
Disposal loss from a subsidiary		-			4,123
Changes in operating assets and liabilities:
Prepaid expense and other current assets		(1,516	)		13,901
Other assets		-			4,944
Other payable and accrued liabilities		1,800			(1,498	)
Net cash flow used in operating activities		(622,242	)		(515,618	)
Cash Flows from Investing Activities
Proceeds from disposal of a subsidiary, net of cash balance at disposed entity		-			5
Net cash flow provided by investing activities		-			5
Cash Flows from Financing Activities
Proceeds from issuance of common stock		-			422,946
Proceeds from officer loans		669,493			81,757
Capital distribution		(40,000	)		-
Net cash flow provided by financing activities		629,493			504,703
Net decrease in cash		7,251			(10,910	)
Cash, beginning of period		18,503			29,413
Cash, End of period	$	25,754		$	18,503
Supplemental disclosures of cash flow information:
Cash paid for interest expense	$	-		$	-
Cash paid for income taxes	$	-		$	-
Noncash financing activities
Shares issued to officer for debt repayment	$	-		$	327,054

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

F-6

LUCKWEL PHARMACEUTICALS INC.

NOTES TO THE FINANCIAL STATEMENTS

~~Note~~MARCH 131, –2020 ~~Summary~~AND ~~of Significant Accounting Policies~~2019

~~Organization~~Note ~~and~~1 ~~Description~~– Nature of the Business

~~The~~Luckwel Pharmaceuticals Inc. (“Luckwel” or the “Company”) plans to acquire, develop, manufacture, and market pharmaceutical medication.

~~Luckycom~~On ~~Limited~~April 11, a2018, ~~wholly-owned~~Luckwel ~~subsidiary~~filed a Certificate of Amendment to the ~~Company,~~Articles ~~was~~of ~~incorporated~~Incorporation into ~~Hong~~change ~~Kong~~its asname ~~Goldsans~~from ~~Capital~~Luckycom ~~(Hong~~Pharmaceuticals Inc. ~~Kong)~~to ~~Limited~~Luckwel ~~(“Goldsans”) on~~and ~~November~~to 8,increase ~~2011.~~the ~~Goldsans~~number ~~name~~of ~~was~~its ~~changed~~authorized shares of common stock to ~~Wudor~~200,000,000 ~~Capital~~with ~~Hong~~an ~~Kong~~effective ~~Limited~~date onof ~~May~~April 2213, 2018. ~~2012~~The Company then amended and ~~subsequently~~restated its by-laws to ~~Luckycom~~reflect the new corporate name. In January 2021, the Company amended its certificate ~~Limited~~of onincorporation ~~June~~to 28increase the number of authorized shares from 200,000,000 ~~2013~~to 500,000,000.

OnThe ~~December 13, 2017, the~~ Company’s ~~sole~~corporate ~~officer~~office ~~and~~is ~~director,~~located ~~and~~in ~~a shareholder~~Cambridge, ~~Mr.~~Massachusetts ~~Kingrich Lee executed a Sold Note~~ and ~~Instrument~~ ofis ~~Transfer~~incorporated onin ~~behalf of Luckwel Pharmaceuticals Inc., pursuant to which~~ the ~~Company~~State ~~would sell to Ms. Lijian Li, Mr. Kingrich Lee’s sister, 10,000 shares~~ of ~~stock of the Company’s wholly-owned Hong Kong subsidiary, Luckycom Limited at a purchase price of HKD 1 (approximately $0~~Nevada.~~13) per share aggregating to HKD 10,000 (approximately $1,281). On the same date, the transaction was consummated with the payment of stamp duty to the Hong Kong tax department.~~

OnAs ~~April~~used ~~11,~~in ~~2018,~~this ~~Luckwel~~Annual ~~Pharmaceuticals~~Report ~~Inc.~~on ~~filed~~Form a10-K ~~Certificate~~(“Annual ofReport”), ~~Amendment~~unless tootherwise ~~the~~indicated, ~~Articles~~all ofreferences ~~Incorporation~~herein to ~~change~~“Luckwel,” the ~~its~~“Company,” ~~name from~~“we” ~~Luckycom~~or ~~Pharmaceuticals~~“us” ~~Inc.~~refer to Luckwel Pharmaceuticals Inc. and to increase the number of its authorized shares of common stock from 100,000,000 to 200,000,000 with an effective date of April 13, 2018. It then amended and restated its by-laws to reflect the new corporate name.

Note 2 – Summary of Significant Accounting Policies

The following is a summary of the significant accounting policies followed in the preparation of these financial statements.

Basis of Presentation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United ~~States~~ States of America (“U.S. GAAP”) ~~and are presented in US dollars (“USD”)~~.

Principles of Consolidation

These financial statements include the accounts of Luckwel Pharmaceuticals Inc., and its formerly-owned subsidiary Luckycom Limited. All intercompany balances and transactions have been eliminated in consolidation. On December 13, 2017, the Company disposed Luckycom Limited (See Note 6).

Cash

Cash include all cash in ~~bank~~banks with no restrictions. ~~The Company had $25,754 and $18,503 of cash as of March 31, 2019 and 2018, respectively.~~

~~F-7~~Use of Estimates

~~LUCKWEL~~The ~~PHARMACEUTICALS~~preparation ~~INC~~of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

NOTES TO THE FINANCIAL STATEMENTS

Note 1 – Summary of Significant Accounting Policies (Continued)

Fair Value of Financial Instruments

~~The~~Accounting ~~Company’s~~Standards ~~financial~~Codification ~~instruments~~(“ASC”) ~~consist~~Topic of820, ~~cash~~Fair Value Measurement, ~~other~~defines ~~payable~~fair ~~and~~value ~~accrued~~as ~~liabilities~~the ~~and~~price ~~loans~~that ~~payable~~would be received to sell an ~~officer~~asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company ~~carrying~~applies ~~amount~~the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of ~~these~~input ~~financial~~that ~~instruments~~is ~~approximates~~available and significant to the fair value ~~due~~measurement. Level ~~either~~1 inputs are quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to ~~length~~access at the measurement date. Level 2 utilizes quoted market prices in markets that are not active, broker or dealer quotations, or alternative pricing sources with reasonable levels of ~~maturity~~price transparency. Level 3 inputs are unobservable inputs for the asset or ~~interest~~liability ~~rates~~in which ~~that~~there ~~approximate~~is ~~prevailing~~little, if any, market ~~rates~~activity ~~unless~~for ~~otherwise~~the ~~disclosed~~asset inor ~~these~~liability ~~financial~~at ~~statements~~the measurement date.

The Company’s financial instruments consist of cash, accrued liabilities and due to officer. The carrying amount of these financial instruments approximate fair value due to either length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. There were no financial instruments classified as Level 3 in the fair value hierarchy during the years ended March 31, 2020 and 2019.

F-6

Income Taxes

~~Income~~Deferred ~~taxes~~tax assets and liabilities are ~~computed~~recognized ~~using~~for the ~~asset~~expected ~~and~~future ~~liability~~tax ~~method.~~consequences ~~Under~~of ~~the~~events ~~asset~~that ~~and~~have ~~liability~~been ~~method,~~included ~~deferred~~in ~~income~~the financial statements or tax returns. Deferred tax assets and liabilities are determined based on the ~~differences~~difference between the ~~financial reporting and~~ tax ~~bases~~basis of assets and liabilities and ~~are~~ ~~measured~~their reported amounts using the ~~currently~~ enacted tax rates ~~and~~in ~~laws~~effect for the year in which the differences are expected to reverse. ATax ~~valuation~~credits ~~allowance~~are isgenerally ~~provided~~recognized ~~for~~as reductions of income tax provisions in the ~~amount~~year in which the credits arise. The measurement of deferred tax assets ~~that~~is reduced by a valuation allowance if, based onupon available evidence, ~~are~~it ~~not~~is ~~expected~~more tolikely bethan ~~realized.~~not ~~The~~that ~~Company~~some ~~has~~or all ~~filed~~of ~~tax~~the ~~return~~deferred ~~for~~tax ~~the~~assets ~~2017~~will ~~fiscal year~~not ~~and~~be ~~was~~realized. inThe ~~process~~effect of a change in income tax ~~filings~~rates ~~for~~is ~~the~~recognized ~~2018~~as ~~fiscal~~income ~~year~~or upexpense ~~until~~in the period that includes the ~~issuance~~enacted ofor ~~this~~substantively ~~report~~enacted date.

~~Uncertain~~Accounting for uncertainty in income taxes recognized in the financial statements is in accordance with accounting authoritative guidance, which prescribes a two-step process to determine the amount of tax ~~positions~~benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination. If the tax position is deemed “more likely than not” to be sustained, the tax position is then assessed to determine the amount of the benefit to recognize in the financial statements. The amount of the benefit that may be recognized is the largest amount that has a greater than 50 percent likelihood of being realized upon ultimate settlement.

~~The~~Basic ~~Company accounts for uncertainty in income taxes using a two-step approach to recognizing~~ and ~~measuring~~Diluted ~~uncertain~~Net ~~tax~~Loss ~~positions. The~~Per first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. Interest and penalties related to uncertain tax positions are recognized and recorded as necessary in the provision for income taxes. Tax years from 2013 forward remain open to examination by the U.S. federal tax authority due to the carryover of net operating losses or tax credits. According to Hong Kong Inland Revenue Department, the statute of limitation is six years if any company chargeable with tax has not been assessed at less than the proper amount. The statute of limitation is extended to 10 years if the underpayment of taxes is due to fraud or willful evasion. There were no uncertain tax positions as of March 31, 2019 and 2018 and the Company does not believe that its unrecognized tax benefits will change over the next twelve months.Share

~~Use~~Basic loss per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of ~~Estimates~~common shares during the period. Diluted loss per share is calculated by dividing the Company’s net loss available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There were no potentially dilutive debt or equity outstanding as of March 31, 2020 and March 31, 2019.

Loss Per Share

Basic loss per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted loss per share is calculated by dividing the Company’s net loss available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There were no potentially dilutive debt or equity outstanding as of March 31, 2019 and 2018, respectively.

F-8

LUCKWEL PHARMACEUTICALS INC.

NOTES TO THE FINANCIAL STATEMENTS

(Stated in US Dollars)

Note 1 – Summary of Significant Accounting Policies (Continued)

Recent Accounting Pronouncements

The Company does not believe any other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the financial position, statements of operations and cash flows.

Note 23 – Going Concern

WeThe Company does not have noany ~~source~~sources of revenues and ~~need~~needs additional cash resources to maintain ~~the~~its operations. WeThe ~~have~~Company had $~~25,754~~44 in cash and a ~~working capital~~stockholders’ deficit of $~~791~~3,~~823~~227,773 ~~have~~at March 31, 2020, has incurred losses since inception ~~of $2~~,~~691,341,~~ and ~~have~~has not yet received any revenue from sales of products or services. These factors raise substantial doubt about ~~our~~the ~~ability~~Company’s ability to continue as a going concern for a period of one year after the date that the financial statements are issued. ~~Our~~ The Company’s ability to continue as a going concern is dependent on ~~our~~its ability to raise additional capital or obtain necessary debt financing. We ~~are~~The Company is presently dependent on ~~our~~its Chief Executive Officer, Mr. Kingrich Lee to either provide usthe Company funding for its daily operation and expenses, including professional ~~fee~~fees and fees charged by regulators, although he is under no obligation to do so, or to spearhead financing efforts with third parties.

WeThe Company currently dodoes not have any arrangements in place to complete any financings and there is no assurance that weit will be successful in completing any such financings on terms that will be acceptable.

~~Our~~The ~~priority,~~financial ~~should~~statements wehave ~~receive~~been ~~such~~prepared ~~additional~~on ~~funds~~a isgoing toconcern ~~pay~~basis ~~our~~which ~~legal,~~assumes ~~accounting~~the Company will be able to realize its assets and ~~other~~discharge ~~fees~~its ~~associated~~liabilities ~~with~~in ~~our~~the normal course of business for the foreseeable future. The Company has incurred losses and ~~our~~further ~~filing~~losses ~~obligations~~are ~~under~~anticipated ~~United~~as ~~States~~a ~~federal~~result ~~securities~~of ~~laws,~~the development of business which raises substantial doubt about its ability to continue as ~~well~~a going concern for a period of one year after the date that the financial statements are issued. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining financing necessary to ~~pay~~meet its ~~other~~obligations ~~accounts~~and ~~payable~~repay ~~generated~~its inliabilities arising from normal business operations when they come due. Management intends to finance operating costs over the ~~ordinary~~next ~~course~~twelve months with existing cash on hand and loans from directors and/or private placement of ~~our~~its ~~business~~common stock.

The financial statements have been prepared on a going concern basis which assumes we will be able to realize its assets and discharge our liabilities in the normal course of business for the foreseeable future. We have incurred losses and further losses are anticipated as a result of the development of business which raises substantial doubt about our ability to continue as a going concern within the next twelve months from the issuance date of the financial statements. The ability to continue as a going concern is dependent upon our generating profitable operations in the future and/or obtaining financing necessary to meet our obligations and repay our liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and/or private placement of our common stock.F-7

FIn March 2020, the World Health Organization declared the global novel coronavirus disease 2019 (COVID-919) outbreak a pandemic. As the Company was still a shell company at March 31, 2020, the Company’s operations have not been significantly impacted financially by the COVID-19 outbreak other than to delay the Company’s plans to develop the business and raise required funds. The Company cannot at this time predict the specific extent, duration, or full impact that the COVID-19 outbreak will have on its financial condition and ability to raise additional capital to finance future planned operations.

~~LUCKWEL~~Subsequent ~~PHARMACEUTICALS~~to ~~INC~~March 31, 2020, in January 2021, the Company sold 300,000 shares of its common stock at a purchase price of $0.40 per share for gross proceeds of $120,000. In February 2021, $1.2 million of debt that was owed to Mr. Kingrich Lee was converted into 3,000,000 shares of the Company’s common stock at a conversion price of $0.40 per share. In April 2021, the Company sold 300,000 shares of its common stock at a purchase price of $0.40 per share for total gross proceeds of $120,000. In May 2021, the Company sold 187,500 shares of its common stock at a purchase price of $0.40 per share for total gross proceeds of $75,000.

~~NOTES~~Note TO4 ~~THE~~– ~~FINANCIAL~~Other ~~STATEMENTS~~Payable and Accrued Liabilities

~~(Stated~~Other inpayable USand ~~Dollars)~~accrued liabilities at March 31, 2020 and 2019 were as follows:

Note 3 – Related Party Transactions

	March 31, 2020		March 31, 2019
Tax penalties		70,000		60,000
Other accrued expenses and payables		8,163		7,843
Total other payable and accrued liabilities	$	78,163	$	67,843

~~The~~Note ~~Company’s~~5 ~~sole~~– ~~officer~~Related ~~and~~Party director, and a shareholder, Mr. Kingrich Lee, loaned an aggregate of $669,493 in cash during the year ended March 31, 2019. During the comparable year of 2018, Mr. Kingrich Lee loaned an aggregate of $81,757.Transactions

~~Accordingly~~The Company’s sole officer and director, and a shareholder, Mr. Kingrich Lee, loaned an aggregate of $372,055 and $669,493 in cash to the Company during the years ended March 31, 2020 and March 31, 2019, respectively. Accordingly, Mr. Kingrich Lee iswas owed an aggregate amount of $~~751~~1,~~250~~123,305 and $81751,~~757~~250 as of March 31, ~~2019~~2020 and March 31, ~~2018~~2019, respectively. These amounts were unsecured, non-interest bearing and are due on demand.

The amounts are unsecured, non-interest bearing and due on demand.

On May 3, 2018, the Company entered into an Intellectual Property Sale and Purchase Agreement (the “Agreement”) with Luckwel Asia Limited (the “Seller”, formerly known as Essential Choice Ventures Ltd), an entity under common control of Mr. Kingrich Lee to purchase from the Seller the intellectual property rights to five drugs, comprising three generic medicines used to treat hypertension and high cholesterol and two advanced drug candidates - KL008 for treatment of hypertension and KL009 for treatment of high cholesterol in various stages of being developed and manufactured (the “Transaction”). Pursuant to the terms of the Agreement, the Company would pay the Seller on closing (i) $40,000 and (ii) issue an aggregate 125,000,000 restricted shares of its common stock, par value $0.01. The Transaction closed on May 3, 2018. The Company recorded the carrying value of the intellectual property as nil in the Seller’s record, $40,000 as capital distribution to the Seller and recorded the par value of the common stock as additional paid-in capital, which was due to the Transaction being regarded as an equity transaction because both parties were under common control.

On ~~December~~November 131, ~~2017~~2018, we entered into another new one-year employment agreement with Mr. ~~Kingrich~~ Lee to continue his employment as our Chief Executive Officer through October 31, 2019 and continuing on ~~behalf~~a year-to-year basis thereafter unless terminated by either party on not less than thirty (30) days notice prior to the expiration of the ~~Company~~one-year extension anniversary. His salary is $180,000 ~~sold~~a year. Additionally, he shall be entitled to ~~Ms.~~an ~~Lijian~~education ~~Li,~~allowance for his ~~sister,~~children 10who are attending full-time local education from kindergarten to senior secondary levels in any type of school and a housing allowance of $3,000 ~~shares~~a ~~representing~~month. ~~100%~~As of March 31, 2020, Mr. Kingrich Lee was owed $144,000 ~~equity~~pursuant ~~interest~~to his employment agreement, ~~the~~which ~~Company~~is recorded in accrued expenses. Upon termination of Mr. Lee’s ~~wholly-owned~~employment, ~~Hong~~except ~~Kong~~for termination ~~subsidiary~~for cause or termination by Mr. Lee, ~~Luckycom~~he ~~Limited~~shall atbe entitled to a ~~purchase~~payment ~~price~~equal ofto ~~HKD~~two 1(2) months’ salary (~~approximately~~ $~~0.13~~30,000 at March 31, 2020) ~~per~~and ~~share~~shall ~~aggregating~~also be eligible to ~~HKD~~retain ~~10,000~~his other benefits for a period of six (~~approximately~~6) months (a minimum of $118,~~281).~~000 ~~The~~in ~~disposal~~housing allowance ~~loss~~at ~~recorded~~March ~~from~~31, ~~the~~2020 ~~sale~~plus ~~was~~any ~~$4,123~~eligible education expenses).

~~On November 1, 2017, the Company entered into an employment agreement with Mr. Kingrich Lee. The agreement is for one year, renewable for successive one~~F-year terms if not terminated, and provides an annual compensation of $180,000, and other benefits, including housing and education allowances. On November 1, 2018, the Company renewed the employment agreement with Mr. Kingrich Lee for another one-year term. This agreement will materially impact our cash needs in the future, as any investment money we obtain will be used to pay Mr. Kingrich Lee’s salary and other benefits, and will have the effect of diverting funds that may be used to pursue our business plan.8

Note 6 – Capital Stock

As of March 31, 2020 and March 31, 2019, the Company had 143,376,000 shares of common stock issued and outstanding. During the year ended March 31, 2019, the Company issued an aggregate of 125,000,000 restricted shares of its common stock to Luckwel Asia Limited.

Note 7 – Income Taxes

The Company accounts for income taxes under FASB ASC 740 (“ASC 740”). For the years ended March 31, 2020 and 2019, the Company did not record a current or deferred income tax expense or benefit. The following table reconciles the federal statutory income rate to the Company’s effective income tax rate:

	Year Ended March 31,
	2020			2019
Tax at U.S. statutory rate		21.00	%		21.00	%
Changes from statutory rate:
State taxes, net of federal benefit		6.2	%		-%
Non-deductible Permanent items		(0.5	)%		(0.6	)%
Change in valuation allowance		(26.7	)%		(20.4	)%

Effective income tax rate		0.00	%		0.00	%

Deferred tax assets and liabilities are determined based on the difference between financial statement and tax bases using enacted rates in effect for the year in which the differences are expected to reverse. The components of the Company’s deferred tax assets are as follows:

	Year Ended March 31,
	2020			2019

Net operating loss carryforwards	$	411,448		$	309,099
Accrued expenses		39,658			-

Gross deferred tax assets		451,106			309,099
Valuation allowance		(451,106	)		(309,099	)

Deferred tax assets, net	$	—		$	—

The Company has weighed the positive and negative evidence to assess the recoverability of its deferred tax assets. Realization of future tax benefits is dependent on many factors, including the Company’s ability to generate taxable income. After this assessment, the Company determined it was more likely than not that the Company will not realize the benefit of its deferred tax assets. As a result, the Company has provided a full valuation allowance against its net deferred tax assets. The valuation allowance for deferred tax assets as of March 31, 2020 and 2019 was $451,106 and $309,099, respectively. For the years ended March 31, 2020 and March 31, 2019, the Company recorded a net valuation increase of $142,007 and $126,963, respectively, primarily related to net operating losses and accrued expenses.

As of March 31, 2020, the Company had gross U.S. federal net operating loss carryforwards of $1,845,401 including $978,994 that had an indefinite carryforward period and $866,407 that were subject to expiration at various dates through 2037. The Company had gross state operating loss carryforwards of $378,380 that were subject to expiration through 2040. The net operating loss carryforwards are subject to review and possible adjustment by the Internal Revenue Service and state authorities.

F-9

Net operating loss carryforwards may become subject to an annual limitation in the event of certain cumulative changes in the ownership interest of significant shareholders over a three-year period in excess of 50%, as defined under Sections 382 and 383 of the Internal Revenue Code, respectively, as well as similar state provisions. This could limit the amount of tax attributes that can be utilized annually to offset future taxable income or tax liabilities. The amount of the annual limitation is determined based on the value of the Company immediately prior to the ownership change. Subsequent ownership changes may further affect the limitation in future years.

The Company has not completed a study to assess whether one or more ownership changes have occurred, as defined in Section 382 of the Code. As such, the Company’s net operating losses may be limited. Any limitation may result in expiration of a portion of the net operating loss carryforwards or research development credit carryforwards before utilization.

The Company files income tax returns in the United States and Massachusetts. All years prior to March 31, 2016 are closed with the Internal Revenue Service. As of March 31, 2020, there are currently no income tax audits in progress.

As of March 31, 2020 and 2019, the Company did not have any unrecognized tax benefits and did not have a balance of accrued interest or penalties related to uncertain tax positions.

In March 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act includes provisions relating to several aspects of corporate income taxes. The CARES Act did not have a significant impact on the Company’s provision for income taxes.

Note 8 – Risks and Uncertainties

In March 2020, the World Health Organization declared the global novel coronavirus disease 2019 (COVID-19) outbreak a pandemic. As the Company is still a shell company, the Company’s operations have not been significantly impacted financially by the COVID-19 outbreak other than to delay the Company’s plans to develop the business and raise required funds. The Company cannot at this time predict the specific extent, duration, or full impact that the COVID-19 outbreak will have on its financial condition and ability to raise additional capital to finance future planned operations.

Note 9 – Subsequent Events

Management of the Company has evaluated subsequent events through the date of issuance of the financial statements and has concluded that there were no other subsequent events requiring adjustment to or disclosure in these financial statements, other than those noted below:

In April 2020, the Company borrowed $15,000 in the form of a promissory note (the “Note”) from a third party. The Note bears interest at 7% per annum and had no maturity date. This loan was repaid in May 2021.

In January 2021, the Company completed a private placement offering with an individual for the purchase of an aggregate of 300,000 shares of common stock of the Company at a price of $0.40 per share for total gross proceeds of $120,000.

In January 2021, the Company amended its certificate of incorporation to increase the number of authorized shares from 200,000,000 to 500,000,000.

In February 2021, $1.2 million of debt that was owed to Mr. Kingrich Lee was converted into 3,000,000 shares of common stock of the Company at a conversion price of $0.40 per share.

In April 2021, the Company completed a private placement offering with a group of individual investors for the purchase of an aggregate of 300,000 shares of common stock of the Company at a price of $0.40 per share for total gross proceeds of $120,000.

In May 2021, the Company completed a private placement offering with an investor for the purchase of 187,500 shares of common stock of the Company at a price of $0.40 per share for total gross proceeds of $75,000.

F-10

LUCKWEL PHARMACEUTICALS INC.

NOTES TO THE FINANCIAL STATEMENTS

(Stated in US Dollars)

Note 4 – Capital Stock

As of March 31, 2019, the Company had 143,376,000 shares of common stock issued and outstanding. During the year ended March 31, 2019, the Company issued in aggregate of 125,000,000 restricted shares of its common stock to Luckwel Asia Limited.

As of March 31, 2018, the Company had 18,376,000 shares of common stock issued and outstanding. For the year ended March 31, 2018, the Company issued in aggregate of 750,000 shares of common stock to Mr. Kingrich Lee.

Note 5 – Income Taxes

On December 22, 2017, the Tax Cuts and Jobs Act (the “2017 Tax Act”) was signed into legislation. The 2017 Tax Act significantly revises the U.S. corporate income tax by, among other things, lowering the statutory corporate tax rate from 34% to 21%, imposing a mandatory one-time tax on accumulated earnings of foreign subsidiaries, introducing new tax regimes, and changing how foreign earnings are subject to U.S. tax.

On December 22, 2017, the Securities and Exchange Commission staff issued Staff Accounting Bulletin No. 118 (“SAB 118”), which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740, Income Taxes. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. As of March 31, 2018, the Company has completed its accounting for certain tax effects of enactment of the Tax Act. There is no impact to current or deferred taxes related to the one-time deemed repatriation, as the formerly owned foreign subsidiary does not have cumulative positive earnings and profits.

The Internal Revenue Code 15 requires that if the taxable year includes the effective date of any rate changes (unless the effective date is the first day of the taxable year), taxes should be calculated by applying a blended rate to the year’s taxable income. To compute the blended rate, a company calculates the weighted average tax rate based on the ratio of days in the fiscal year prior to and after the effective date. Below is the calculation of blended rate for the year ended March 31, 2018:

Period	Days		Proportion			Tax Rate			Proportional Rate
April 1 – December, 2017		275		75.34	%		34	%		25.62	%
January 1 – March 31, 2018		90		24.66	%		21	%		5.18	%
Estimated Annual Effective Rate										30.8	%

At March 31, 2019, the Company had US net operating loss carryforwards of approximately $1,471,898 that may be offset against future taxable income. Of the $1,471,898, $312,284 will begin to expire in 2033. The net losses of $622,526 from the year ended March 31, 2019 and $537,088 from the year ended March 31, 2018 do not have an expiration date. The Company maintains a full valuation allowance on its net deferred tax asset. The net valuation allowance increased by $126,963 and decreased by $298,510 during the years ended March 31, 2019 and 2018, respectively.

The approximate cumulative tax effect at the expected rate of 21% of significant items comprising our net deferred tax asset amount is as follows as of March 31, 2019 and 2018:

	March 31, 2019			March 31, 2018
Deferred tax assets:
Net operating loss carryforwards	$	309,099		$	182,135
Less: valuation allowance		(309,099	)		(182,135	)
Net deferred tax assets	$	-		$	-

F-11

LUCKWEL PHARMACEUTICALS INC.

NOTES TO THE FINANCIAL STATEMENTS

(Stated in US Dollars)

The items accounting for the difference between income taxes at the effective statutory rate and the provision for income taxes for the years ended March 31, 2019 and 2018 were as follows:

	For the years ended March 31,
	2019			2018
Loss before tax	$	(622,526	)	$	(537,088	)
Income tax benefit at U.S. statutory rates		(130,730	)		(165,423	)
Impact of different tax rates in other jurisdictions		-			23,596
Other non-deductible expenses		3,767			1,614
True up related to prior year’s NOL		-			210,318
Reduction of NOL due to the disposal of a subsidiary		-			127,394
Re-measurement of deferred income tax (a)		-			101,011
Change in valuation allowance		126,963			(298,510	)
Provision for income taxes	$	-		$	-

(a) As a result of the 2017 Tax Act enacted on December 22, 2017, the United States corporate income tax rate is 21% effective January 1, 2018. The blended tax rate for the year ended March 31, 2018 calculated above is 30.8%.

Note 6 – Disposal of a Subsidiary

On December 13, 2017, Mr. Kingrich Lee, on behalf of the Company, sold 100% of the ownership of Luckycom Limited, a wholly-owned Hong Kong subsidiary, to Ms. Lijian Li for cash proceeds of $1,255 (net of expenses of $26). The Company recognized a loss of $4,123, net of Hong Kong subsidiary net assets of $5,378. Simultaneously the Hong Kong subsidiary forgave the $219,653 owed by the Company and transferred the amount due from an officer totaled $17,015 to the Company to offset the aggregate amount due to the same officer.

Note 7 – Subsequent Events

The Company has evaluated subsequent events through July 1, 2019, the date of issuance of the financial statements, and no subsequent events were identified that would have required adjustment or disclosure in the financial statements.

F-12

Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure

None.

Item 9A. Controls and Procedures

As required by Rule 13a-15 under the Securities Exchange Act of 1934, we have carried out an evaluation of the effectiveness of our ~~disclosure~~ disclosure controls and procedures as of the end of the period covered by this annual report, being March 31, ~~2019~~2020. This evaluation was carried out under the supervision and with the participation of our management, including our Chief Executive Officer who is also Chief Financial Officer.

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms. Disclosure controls and procedures include controls and procedures designed to ensure that information required to be disclosed in our company’s reports filed under the Securities Exchange Act of 1934 is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

Because of these multiple roles assumed by our Chief Executive Officer and who is also our Chief Financial Officer, it is impossible to ~~fully~~ fully segregate duties to ensure that all information required to be disclosed by us in the reports that we file or submit is: (i) recorded, processed, summarized and reported, within the time periods specified in the Commission’s rule and forms; and (ii) accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure. Our Chief Executive Officer and Chief Financial Officer concluded that (i) there continue to be material weaknesses in the Company’s internal controls over financial reporting, ~~that the~~ ~~weaknesses constitute a “deficiency”~~ which could result in misstatements of the foregoing accounts and disclosures that could result in a material misstatement to the financial statements for the period covered by this report that would not be detected, and (ii) accordingly, our disclosure controls and procedures were not effective as of the fiscal year ended March 31, ~~2019~~2020.

Management’s Annual Report on Internal Control over Financing Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934). Management has assessed the effectiveness of our internal control over financial ~~reporting~~ reporting as of March 31, ~~2019~~2020 based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. As a result of this assessment, management concluded that, as of March 31, ~~2019~~2020, our internal control over financial reporting was not effective. The material weaknesses identified related to (i) a lack of accounting staff and resources with appropriate knowledge of U.S. GAAP and SEC reporting and compliance requirements; (ii) a lack of sufficient documented financial closing policies and procedures; and (iii) a lack of independent directors and an audit committee.

We plan to take steps to enhance and improve the design of our internal control over financial reporting. During the period covered by this annual report on Form 10-K, we have not been able to remediate the material weaknesses identified above. To remediate such weaknesses, we hope to implement the following changes during our fiscal year ending March 31, ~~2020~~2021: (i) appoint additional qualified personnel to address inadequate segregation of duties and ineffective risk management; (ii) adopt sufficient written policies and procedures for accounting and financial reporting, and (iii) strengthen our financial team by employing more qualified accountant(s) conversant with US GAAP to enhance the quality of our financial reporting function. The remediation efforts set out in (i), (ii) and (iii) are largely dependent upon our securing additional financing to cover the costs of implementing the changes required. If we are unsuccessful in securing such funds, remediation efforts may be adversely affected in a material manner.

This annual report does not include an attestation report of our registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by our registered public accounting firm pursuant to an exemption for non-accelerated filers set forth in Section 989G of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Changes in Internal Controls over Financial Reporting

We regularly review our system of internal control over financial reporting and make changes to our processes and systems to improve controls and increase efficiency, while ensuring that we maintain an effective internal control environment. Changes may include such activities as implementing new, more efficient systems, consolidating activities, and migrating processes.

There have been no changes in our internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Limitations on Controls

Management does not expect that the Company’s disclosure controls and procedures or the Company’s internal control over financial reporting will prevent or detect all error and fraud. Any control system, no matter how well designed and operated, is based upon certain assumptions and can provide only reasonable, not absolute, assurance that its objectives will be met. Further, no evaluation of controls can provide absolute assurance that misstatements due to error or fraud will not occur or that all control issues and instances of fraud, if any, within the Company have been detected. The Company’s disclosure controls and procedures are designed to provide reasonable assurance of achieving their objectives and the Company’s Chief Executive Officer (who is also our Chief Financial Officer) has concluded that the Company’s disclosure controls and procedures are effective at that reasonable assurance level.

Item 9B. Other Information

None

PART III

Item 10. Directors, Executive Officers and Corporate Governance

The following table contains information with respect to our current executive officers and directors. Our sole officer and director, Mr. Kingrich Lee is resident in Hong Kong and therefore, it may be difficult for investors to effect service of process within the U.S. upon him or to enforce judgments against him obtained from the United States courts.

Name		Age		Principal Positions With Us
Kingrich Lee		4446		President, Chief Executive Officer, Chief Financial Officer, Treasurer, Secretary, Chairman and Sole Director

Kingrich Lee, President, Chief Executive Officer, Chief Financial Officer, Treasurer, Secretary and Director

Our sole officer and director, president, Mr. Kingrich Lee, has ~~nearly~~more 19than 20 years’ experience in the pharmaceuticals and food industry. ~~and~~From 3January ~~years~~2013 into the ~~capital~~present, ~~raising~~Mr. ~~industry~~Lee has been our founder and sole officer and director. ~~Aside~~From ~~from~~April ~~owning~~2005 to December 2017, Mr. Lee was a ~~majority~~director ~~stake~~of inthe ~~our~~Luckycom ~~business~~Pharma group of companies. Earlier, wehe ~~feel~~was ~~that~~marketing ~~his~~manager ~~experience~~for ~~and skills~~Holleykin inPharma for the ~~pharmaceuticals~~Asian ~~industry~~and ~~along~~American markets ~~with~~for ~~his~~antimalarial ~~background~~drug inArtekin®. ~~venture~~Before ~~capital~~Holleykin, ~~work~~he ~~makes~~was ~~him~~marketing ~~suitable~~manager for aStar ~~position~~Lake asBiosciences Ltd, where he developed ~~our~~markets ~~officer~~for around 20 countries and ~~director~~facilitated Star Lake becoming the Roche HCV drug COPEGUS®’ (ribavirin) API supplier with FDA approval.

~~From January 2013 to the present,~~ Mr. ~~Lee has been our sole officer and director. From April 2005 to December 2017, Mr. Lee was a director~~ ~~of the Luckycom Pharma group of companies. From 2003-2004, Mr.~~ Lee ~~was~~received ~~Manager of International Marketing at Holleykin Pharma, in China, a subsidiary of Shenzhen Stock Exchange listed firm Holley Pharma (Stock Code:000607) . From 2001-2003, Mr. Lee started~~ his ~~first~~mergers ~~own food business, Luckycom & Co.in China. From 1997-2001, Mr. Lee served as Import~~ and ~~Export~~acquisition ~~Executive,~~diploma later deputy Manager of Star Lake Bioscience Ltd, a Shanghai Stock Exchange listed firm (Stock Code:600866) ,where he developed pharmaceuticals and food markets in 20+ countries in Europe, Asia and America. Mr. Lee earned an Executive Diploma in Merger and Acquisition from ~~the~~ The University of Hong Kong, (HKU) and aundergraduate ~~Bachelor~~ degree ~~in international economics and trade~~ from ~~the~~ Guangdong University of Finance & and Economics.

Director Qualifications

Directors are responsible for overseeing the Company’s business consistent with their fiduciary duty to the stockholders. This significant responsibility requires highly-skilled individuals with various qualities, attributes and professional experience. Our Board believes that there are general requirements for service on the Board that are applicable to directors and that there are other skills and experience that should be represented on the Board as a whole but not necessarily by each director. The Board considers the qualifications of director and director candidates individually and in the broader context of the Board’s overall composition and the Company’s current and future needs.

Qualifications for All Directors

In its assessment of each potential candidate, including those recommended by the stockholders, the Board will consider the nominee’s judgment, integrity, experience, independence, understanding of the Company’s business or other related industries and such ~~other~~ other factors it determines are pertinent in light of the current needs of the Board. The Board also takes into account the ability of a director to devote the time and effort necessary to ~~fulfill~~fulfil his or her responsibilities to the Company.

The Board requires that each director be a recognized person of high integrity with a proven record of success in his or her field. Each director must demonstrate innovative thinking, familiarity with and respect for corporate governance requirements and practices, an appreciation of multiple cultures and a commitment to sustainability and to dealing responsibly with social issues. In addition to the qualifications required of all directors, the Board conducts interviews of potential director candidates to assess intangible qualities including the individual’s ability to ask difficult questions and, simultaneously, to work collegially.

1310

Qualifications, Attributes, Skills and Experience to be Represented on the Board as a Whole

The Board has identified particular qualifications, attributes, skills and experience that are important to be represented on the board as a whole, in light of the Company’s current needs and its business priorities. The Board believes that it should include some directors with a high level of financial literacy and some directors who possess relevant business experience as a Chief Executive Officer or a President or like position. Marketing is the core focus of our business and the Company seeks to develop and deploy the world’s most innovative and effective marketing and technology. Therefore, the Board believes that marketing and technology experience should be represented on the Board. The Company plans to be involved in the pharmaceuticals business and therefore the Company’s business also requires compliance with a variety of regulatory requirements and relationships with various governmental entities. Therefore, the Board believes that governmental, political or diplomatic expertise should be represented on the Board.

Board Leadership Structure and Role in Risk Oversight

Our sole director and officer, Mr. Kingrich Lee has held numerous leadership roles as Chief Executive Officer or a President or like position for more than 10 years and has been involved in various capacities in the pharmaceuticals and food business developed ~~numerous~~ numerous markets internationally. Accordingly, we believe that Mr. Lee is well-equipped and qualified to be our Chairman and Chief Executive Officer. Our entire Board has overall responsibility for risk oversight including related party transactions. We have not adopted written policies and procedures specifically for related person transactions.

Term of Office

Our directors are appointed for a one-year term to hold office until the next annual general meeting of our shareholders or until removed from office in accordance with our bylaws. Our officers are appointed by our Board of Directors and hold office until removed by the Board.

Director Independence

Except as reported above, our sole officer and director, Mr. Kingrich Lee, does not hold any directorships in other reporting companies and does not qualify as an “independent director” under the Rules of NASDAQ, Marketplace Rule 4200(a)(15).

Family Relationships

There are no family relationships between or among the directors, executive officers or persons nominated or chosen by us to become directors or executive officers.

Involvement in Certain Legal Proceedings

During the past ten years, none of the following occurred with respect to a present or former director, executive officer, or employee: (1) any bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time; (2) any conviction in a criminal proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other minor offenses); (3) being subject to any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his or her involvement in any type of business, securities or banking activities; and (4) being found by a court of competent jurisdiction (in a civil action), the SEC or the Commodities Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended or vacated.

Committees of the Board

We currently do not have nominating, compensation or audit committees or committees performing similar functions nor do we have a written nominating, compensation or audit committee charter. Our director believe that it is not necessary to have such committees, at this time, because we are still a shell company without operations and the functions of such committees can be adequately performed by the Board of Directors.

We do not have any defined policy or procedural requirements for shareholders to submit recommendations or nominations for directors. The Board of Directors believes that, given the stage of our development, a specific nominating policy would be premature and of little assistance until our business operations develop to a more advanced level. We do not currently have any specific or minimum criteria for the election of nominees to the Board of Directors and we do not have any specific process or procedure for evaluating such nominees. The Board of Directors will assess all candidates, whether submitted by management or shareholders, and make recommendations for election or appointment.

A shareholder who wishes to communicate with our board of directors may do so by directing a written request addressed to our Chief Executive Officer and sole director, Mr. Kingrich Lee, at the address appearing on the first page of this annual report.

Conflicts of Interest

Our Chief Executive Officer and sole director, Mr. Kingrich Lee, is not obligated to commit his full time and attention to our business and, accordingly, he may encounter a conflict of interest in allocating his time between our operations and those of other businesses. In the course of his other business activities, he may become aware of investment and business opportunities which may be appropriate for presentation to us as well as other entities to which he owes a fiduciary duty. As a result, they may have conflicts of interest in determining to which entity a particular business opportunity should be presented. He may also in the future become affiliated with entities, engaged in business activities similar to those we intend to conduct.

Mr. Lee owes fiduciary duties in his capacity as director of the following companies:

Luckwel ~~PHARMACEUTICALS~~Pharmaceuticals ~~INC~~Inc. Nevada

Kingrich Holdings Ltd, Cayman Islands

Most of Mr. Lee’s time and energy is spent with us, and we plan to implement our business strategies as stated above.

In general, officers and directors of a corporation are required to present business opportunities to a corporation if:

●	the corporation could financially undertake the opportunity;

●	the opportunity is within the corporation’s line of business; and

●	it would be unfair to the corporation and its stockholders not to bring the opportunity to the attention of the corporation.

We plan to adopt a code of ethics that obligates our directors, officers and employees to disclose potential conflicts of interest and prohibits those persons from engaging in such transactions without our consent. We have not done so as of the date of this annual report.

Section 16(a) Beneficial Ownership Reporting Compliance

As of the date of this report, we are not subject to Section 16(a) of the Securities Exchange Act of 1934.

Item 11. Executive Compensation

The following table sets forth information with respect to the compensation of each of the named executive officers for services provided in all capacities to Luckwel Pharmaceuticals Inc. in the fiscal years ended March 31, ~~2019~~2020 and March 31, ~~2018~~2019 in their capacity as such officers. No other executive officer or former executive officer received more than $100,000 in compensation in the fiscal years except reported below.

Position	Year		Salary ($)		Bonus ($)		Stock Awards ($)		Option Awards ($)		Non-equity Incentive Plan Compensation ($)		All Other Compensation ($)			Total ($)
Kingrich Lee		2019		180,000		—		—		—		—		87,277	¹		267,277
President, Chief Executive Officer, Chief Financial Officer, Treasurer, Secretary, Chairman and Sole Director		2020		180,000		—		—		—		—		106,547	²		286,547

Position		Year		Salary ($)		Bonus ($)		Stock Awards ($)		Option Awards ($)		Non-equity Incentive Plan Compensation ($)		All Other Compensation ($)		Total ($)
	(1)	Includes $36,000 for housing allowance and $51,277 for educational expenses.
Kingrich Lee (1)			2018		224,794		—		—		—		—		—		224,794
	(2)	Includes $36,000 for housing allowance and $70,547 for educational expenses.
President, Chief Executive Officer, Chief Financial Officer, Treasurer, Secretary, Chairman and Sole Director			2019		267,277		—		—		—		—		—		267,277

Narrative Disclosure to the Summary Compensation Table

Mr. Kingrich Lee has served as our President, Chief Executive Officer, Director, Chief Financial Officer and Treasurer since our inception on January 2, 2013. On ~~October~~November 21, ~~2015~~2018, we entered into a one-year employment agreement with Mr. Kingrich Lee to ~~serve~~continue ~~as our Chief Executive Officer. For~~ his services, we agreed to him pay an annual salary of $180,000. On August 3, 2015, we agreed to convert $350,000 debt owed to Mr. Kingrich Lee, into 3,500,000 shares of our common stock. We have fair valued these shares at $420,000 and recognized the $70,000 as the stock based compensation to Mr. Kingrich Lee. On November 1, 2017, we entered into a one-year employment ~~agreement with Mr. Kingrich Lee~~ ~~to continue serving~~ as our Chief Executive Officer. ~~For~~through ~~his~~October ~~services~~31, ~~we agreed to pay him an annual salary of $180,000~~2019. ~~Additionally, he~~The ~~shall~~agreement would be ~~entitled~~automatically torenewed anunless ~~education~~terminated ~~allowance~~earlier ~~for~~and ~~his children who are attending full-time local education from kindergarten~~is tocurrently ~~senior secondary levels~~ in ~~any~~place type of school and a housing allowance of $3,000 a month. On November 1, 2018, we entered into another new one-year employment agreement with Mr. Kingrich Lee to continue his employment as our Chief Executive Officer through October 31, ~~2019~~2021. His salary and benefits remain unchanged.

Employment Agreements

On November 1, 2018, we entered into another new one-year employment agreement with Mr. Lee to continue his employment as our Chief ~~Executive~~ Executive Officer through October 31, 2019 and continuing on a year-to-year basis thereafter unless terminated by either party on not less than thirty (30) days notice prior to the expiration of the one-year extension anniversary. His salary is $180,000 aper year. Additionally, he shall be entitled to an education allowance for his children who are attending full-time local education from kindergarten to senior secondary levels in any type of school and a housing allowance of $3,000 aper month. Upon termination of Mr. Lee’s employment, except for termination for cause or termination by Mr. Lee, he shall be entitled to a payment equal to two (2) months’ salary ($30,000 at March 31, 2020) and shall also be eligible to retain his other benefits for a period of six (6) months.

Stock Option Grants

We have not granted any stock options to the executive officers or directors since our inception.

Outstanding Equity Awards at Fiscal Year-End

The table below summarizes all unexercised options, stock that has not vested, and equity incentive plan awards for each named executive officer as of March 31, ~~2019~~2020.

Equity Awards

Name

Number of
securities
underlying
unexercised
options
(#)
Exercisable

Number of
securities
underlying
unexercised
options
(#)
Unexercisable

Equity incentive
plan awards:
number of
securities underlying
unexercised
unearned
options
(#)

Option
exercise
price
(US$)

Option
expiration
date

Kingrich Lee

1613

Compensation Discussion and Analysis

We strive to provide our named executive officers (as defined in Item 402 of Regulation S-K) with a competitive base salary that is in line with their roles and responsibilities when compared to peer companies of comparable size in similar locations.

We will consider forming a compensation committee to oversee the compensation of our named executive officers. The majority of the members of the compensation committee would be independent directors.

Director Compensation

We do not pay any compensation to our sole director at this time. However, we reserve the right to compensate our directors in the future with cash, stock, options, or some combination of the above.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

The following table sets forth, as of ~~July~~February 128, ~~2019~~2021, certain information as to shares of our voting stock owned by (i) each person ~~known~~ known by us to beneficially own more than 5% of our outstanding voting stock, (ii) each of our directors, and (iii) all of our executive officers and directors as a group.

Name and Address of Beneficial Owner	Shares Beneficially Owned⁶		Percentage Beneficially Owned⁶
Kingrich Lee^{1 2}Flat A, 23F,Tower 3,Florient Rise,38 Cherry Street, Hong Kong		83,532,112		56.95	%
All directors and officers as a group (1 person)		83,532,112		56.95	%

Owners of more than 5% of Shares of Common Stock
Morgold Limited No. A18 Shen Rong Hao Ting Villa, Pan Gu Road, Qi Xing Yan Resort Zhaoqing City Guangdong Province 526040 The People’s Republic of China		25,000,000		17.04	%

Lijian Li^{1 3} Rm B7-2C, Xin Hi Yuan New World Garden No. 2 Cai Yun Road, Zhaoqing, Guangdong, 526040 The People’s Republic of China		25,145,000		17.14	%

Goldvito Limited RM B7-2C. Xin Hu Yuan New World Garden No. 2 Cai Yun Road, Zhaoqing, Guangdong 526040 The People’s Republic of China		25,000,000		17.04	%

Yongjian Li^{1 4} No. A18 Shen Rong Hao Ting Villa Pan Gu Road, Qi Xing Yan Resort, Zhaoqing ,Guangdong, The People’s Republic of China		25,085,000		17.10	%

Kingrich Holdings Limited^{1 2 5} Flat A, 23F,Tower 3,Florient Rise,38 Cherry Street, Hong Kong		75,000,000		51.13	%

Name and Address of Beneficial Owner	Shares Beneficially Owned6		Percentage Beneficially Owned7
Kingrich Lee1 2 Level 19, Two International Finance Center, Central, Hong Kong		5,981,112		4.17	%
All directors and officers as a group (1 person)		5,981,112		4.17	%
Owners of more than 5% of Shares of Common Stock
Morgold Limited No. A18 Shen Rong Hao Ting Villa, Pan Gu Road, Qi Xing Yan Resort Zhaoqing City Guangdong Province 526040 The People’s Republic of China		25,000,000		17.44	%
Lijian Li1 3 Rm B7-2C, Xin Hi Yuan New World Garden No. 2 Cai Yun Road, Zhaoqing, Guangdong, 526040 The People’s Republic of China		25,145,000		17.54	%
Goldvito Limited RM B7-2C. Xin Hu Yuan New World Garden No. 2 Cai Yun Road, Zhaoqing, Guangdong 526040 The People’s Republic of China		25,000,000		17.44	%
Yongjian Li1 4 No. A18 Villa Shen Rong Hao Tong Pan Gu Road, Qi Xing Yan Resort, Zhaoqing Guangdong, The People’s Republic of China		25,085,000		17.50	%
Kingrich Holdings Limited1 2 5 Level 19, Two International Finance Center, Central, Hong Kong		75,000,000		52.31	%
Chunyi Queenish Lee1 5 Flat L, 11F, Tower II, Eltanin Square Mile, 11 Li Tak Street Tai Kok Tsui, Kowloon, Hong Kong		74,925,000		52.26	%

(1)	On May 3, 2018, we entered into an Intellectual Property Sale and Purchase Agreement (the “Agreement”) with Luckwel Asia Limited (the “Luckwel Asia”, formerly known as Essential Choice Ventures Ltd) to purchase from Luckwel Asia the intellectual property rights to five (5) drugs, comprising three generic medicines used to treat hypertension and high cholesterol and two advanced drug candidates - KL008 for treatment of hypertension and KL009 for treatment of high cholesterol in various stages of being developed and manufactured. Luckwel Asia is a British Virgin Islands corporation whose shareholders comprise Kingrich Holdings Limited, a Cayman Islands corporation (60%), Goldvito Ltd, Seychelles corporation (20%) and Morgold Ltd, a Seychelles corporation (20%). Mr. Kingrich Lee, our Chief Executive Officer, owns ~~one~~100% ~~share~~of ~~and~~the ~~his wife, Chunyi Queenish Lee owns 999~~ shares in Kingrich Holdings Limited and his two sisters, Lijian Li and Yongjian Li are each the sole shareholder of each of Goldvito Ltd and Morgold Ltd, respectively. Pursuant to the Agreement, we paid US$40,000 and issued an aggregate 125,000,000 newly issued restricted shares of our common stock as consideration to Luckwel Asia. On June 12, 2018, the board of Luckwel Asia Limited consented to a dividend in specie of the 125,000,000 fully paid and non-assessable shares of our common stock to the shareholders of Luckwel Asia Limited. – 25,000,000 shares to Morgold Ltd, 25,000,000 shares to Goldvito Ltd, and 75,000,000 shares to Kingrich Holdings Limited.
(2)	Mr. Kingrich Lee owns 58,~~906~~532,112 shares of common stock directly and ~~beneficially owns 750~~75,000,000 shares of common stock indirectly through ~~his~~Kingrich ~~0.1%~~Holdings ~~ownership~~Limited, inhis ~~Kingrich~~wholly-owned ~~Holdings~~and ~~Limited~~controlled Cayman company. Accordingly, ~~0.1~~100% of Kingrich ~~Holding~~Holdings ~~Limited~~Ltd’s total shareholdings in the Company is attributed to Mr. Lee~~. Ownership of shares of our common stock by Mr. Lee does not include ownership of shares of our common stock by his wife~~, ~~Ms.Chunyi~~its ~~Queenish~~sole ~~Lee~~shareholder.
(3)	Ms. Lijian Li owns 145,000 shares of common stock and 25,000,000 shares of common stock indirectly through Goldvito Ltd, her wholly-owned and controlled Seychelles company. Accordingly, 100% of Goldvito Ltd’s total shareholdings in the Company is attributed to Ms. Li, its sole shareholder.
(4)	Ms. Yongjian Li owns 85,000 shares of common stock and 25,000,000 shares of common stock indirectly through Morgold Ltd, her wholly-owned and controlled Seychelles company. Accordingly, 100% of Morgold Ltd’s total shareholdings in the Company is attributed to Ms. Li, its sole shareholder.
(5)	~~Ms.~~Unless ~~Chunyi~~otherwise ~~Queenish~~indicated, ~~Lee~~each ~~beneficially~~person ~~owns~~or ~~74,925,000~~entity named in the table has sole voting power and investment power (or shares that power with that person’s spouse) with respect to all shares of ~~common~~voting stock ~~indirectly~~listed ~~through~~as ~~her~~owned 99by that person or entity.9% In determining beneficial ownership inof ~~Kingrich~~our ~~Holdings~~common ~~Limited.~~stock ~~Accordingly~~as of a given date, ~~99.9%~~the number of ~~Kingrich~~shares ~~Holdings~~shown ~~Limited’s~~includes ~~total~~shares ~~shareholdings~~of incommon ~~the~~stock ~~Company~~which ismay ~~attributed~~be toacquired ~~Ms.~~on ~~Lee.~~exercise ~~Ownership~~of warrants or options or conversion of ~~shares~~convertible securities within 60 days of ~~our~~that date. In determining the percent of common stock owned by ~~Ms.~~a ~~Lee~~person ~~does~~or ~~not~~entity ~~include~~on ~~ownership~~February 28, 2021, (a) the numerator is the number of shares of ~~our~~the class beneficially owned by such person or entity, including shares which may be acquired within 60 days on exercise of warrants or options and conversion of convertible securities, and (b) the denominator is the sum of (i) the total shares of common stock, by146,676,000, Mroutstanding on February 28, 2021, and (ii) the total number of shares that the beneficial owner may acquire upon conversion of the preferred and on exercise of the warrants and options, subject to limitations on conversion and exercise. ~~Kingrich~~Unless ~~Lee~~otherwise stated, each beneficial owner has sole power to vote and dispose of its shares.
(6)	~~Unless~~Pursuant ~~otherwise~~to ~~indicated,~~Rules ~~each~~13d-3 ~~person~~and or13d-5 ~~entity~~of ~~named in~~ the ~~table~~Exchange ~~has~~Act, ~~sole~~beneficial ~~voting~~ownership ~~power~~includes ~~and~~any ~~investment power (or~~ shares ~~that~~as ~~power~~to ~~with~~which ~~that~~a ~~person’s~~shareholder ~~spouse)~~has ~~with~~sole ~~respect~~or toshared ~~all shares of~~ voting ~~stock~~power ~~listed as owned by that person~~ or ~~entity.~~investment ~~In determining beneficial ownership of our common stock as of a given date~~power, ~~the~~and ~~number~~also ofany shares ~~shown includes shares of common stock~~ which ~~may~~the beshareholder ~~acquired~~has onthe ~~exercise~~right ofto ~~warrants~~acquire ~~or options or conversion of convertible securities~~ within 60 days, ofincluding ~~that~~upon ~~date.~~exercise ~~In determining the percent~~ of common ~~stock owned by a person or entity on July 1, 2019, (a) the numerator is the number of~~ shares ofpurchase ~~the~~options ~~class beneficially owned by such person~~ or ~~entity, including shares which may be acquired within 60 days on exercise of~~ warrants. orThe ~~options~~percent ~~and conversion~~ of ~~convertible~~class ~~securities, and (b) the denominator~~ is ~~the~~based ~~sum~~on ~~of (i) the total shares of common stock~~146, ~~143~~676,~~376,~~000, ~~outstanding~~voting ~~on July 1, 2019, and (ii) the total number of~~ shares ~~that~~as ~~the beneficial owner may acquire upon conversion~~ of ~~the~~February ~~preferred and on exercise of the warrants and options~~28, ~~subject to limitations on conversion and exercise~~2021. ~~Unless otherwise stated, each beneficial owner has sole power to vote and dispose of its shares.~~
(7)	Pursuant to Rules 13d-3 and 13d-5 of the Exchange Act, beneficial ownership includes any shares as to which a shareholder has sole or shared voting power or investment power, and also any shares which the shareholder has the right to acquire within 60 days, including upon exercise of common shares purchase options or warrants. The percent of class is based on 143,376,000 voting shares as of July 1, 2019.

Item 13. Certain Relationships and Related Transactions, and Director Independence

Other than the transactions described below and under the heading “Executive Compensation” (or with respect to which such information is omitted in accordance with SEC regulations), for the past two fiscal years there have not been, and there is not currently proposed, any transaction or series of similar transactions to which we were or will be a participant in which the amount involved exceeded or will exceed $120,000, and in which any director, executive officer, holder of 5% or more of any class of our capital stock or any member of the immediate family of any of the foregoing persons had or will have a direct or indirect material interest.

The Company’s sole officer and director, and a shareholder, Mr. Kingrich Lee, loaned an aggregate of $669,493 in cash during the year ended March 31, 2019. During the comparable year of 2018, Mr. Kingrich Lee loaned an aggregate of $81,757.15

~~Accordingly~~The Company’s sole officer and director, and a shareholder, Mr. Kingrich Lee, loaned an aggregate of $372,055 and $669,493 in cash during the years ended March 31, 2020 and March 31, 2019, respectively. Accordingly, Mr. Kingrich Lee iswas owed an aggregate amount of $~~751~~1,~~250~~123,305 and $81751,~~757~~250 as of March 31, ~~2019~~2020 and March 31, ~~2018~~2019, respectively. The amounts were unsecured, non-interest bearing and due on demand.

~~The~~On ~~amounts~~November ~~were~~1, ~~unsecured~~2018, ~~non~~we entered into another new one-~~interest~~year ~~bearing~~employment agreement with Mr. Lee to continue his employment as our Chief Executive Officer through October 31, 2019 and ~~due~~continuing on ~~demand~~a year-to-year basis thereafter unless terminated by either party on not less than thirty (30) days notice prior to the expiration of the one-year extension anniversary. His salary is $180,000 a year. Additionally, he shall be entitled to an education allowance for his children who are attending full-time local education from kindergarten to senior secondary levels in any type of school and a housing allowance of $3,000 a month. Upon termination of Mr. Lee’s employment, except for termination for cause or termination by Mr. Lee, he shall be entitled to a payment equal to two (2) months’ salary ($30,000 at March 31, 2020) and shall also be eligible to retain his other benefits for a period of six (6) months.

On May 53, ~~2017~~2018, ~~the~~we ~~Company~~entered ~~issued~~into an ~~aggregate~~Intellectual ofProperty ~~750~~Sale and Purchase Agreement (the “Agreement”) with Luckwel Asia Limited (the “Luckwel Asia”,~~000~~ ~~shares~~formerly ofknown ~~common~~as ~~stock~~Essential Choice Ventures Ltd) to ~~Mr.~~purchase ~~Kingrich~~from ~~Lee~~Luckwel inAsia the ~~settlement~~intellectual property rights to five (5) drugs, comprising three generic medicines used to treat hypertension and high cholesterol and two advanced drug candidates - KL008 for treatment of ~~the~~hypertension ~~debt~~and KL009 for treatment of high cholesterol in various stages of being developed and manufactured. ~~owed~~Luckwel toAsia is a British Virgin Islands corporation whose shareholders comprise Kingrich Holding Ltd, a Cayman Islands corporation (60%), Goldvito Ltd, Seychelles Corporation (20%) and Morgold Ltd, a Seychelles corporation (20%). Mr. Kingrich Lee, inour Chief Executive Officer and majority shareholder is the ~~amount~~sole shareholder of ~~$327~~Kingrich Holding Ltd and his two sisters,~~054~~ Lijian Li and inYongjian ~~exchange~~Li are each the sole shareholder of Mreach of Goldvito Ltd and Morgold Ltd, respectively. ~~Kingrich~~Pursuant ~~Lee’s~~to ~~investment~~the ofAgreement, we paid $~~422~~40,~~946~~000 and issued an aggregate 125,000,000 newly issued restricted shares of ~~cash~~our common stock as consideration to Luckwel Asia.

On November 1, 2017, we entered into another new one-year employment agreement with Mr. Kingrich Lee to continue his employment as our Chief Executive Officer through October 31, 2018. His salary is $180,000 a year. Additionally, he shall be entitled to an education allowance for his children who are attending full-time local education from kindergarten to senior secondary levels in any type of school and a housing allowance of $3000 a month.

On December 13, 2017, Mr. Kingrich Lee, on behalf of the Company, sold to Ms. Lijian Li, his sister, 10,000 shares of stock of the Company’s wholly-owned Hong Kong subsidiary, Luckycom Limited at a purchase price of HKD 1 (approximately $0.13) per share aggregating to HKD 10,000 (approximately $1,281). The disposal loss recorded from the sale was $4,123.

On May 3, 2018, we entered into an Intellectual Property Sale and Purchase Agreement (the “Agreement”) with Luckwel Asia Limited (the “Luckwel Asia”, formerly known as Essential Choice Ventures Ltd) to purchase from Luckwel Asia the intellectual property rights to five (5) drugs, comprising three generic medicines used to treat hypertension and high cholesterol and two advanced drug candidates - KL008 for treatment of hypertension and KL009 for treatment of high cholesterol in various stages of being developed and manufactured. Luckwel Asia is a British Virgin Islands corporation whose shareholders comprise Kingrich Holding Ltd, a Cayman Islands corporation (60%), Goldvito Ltd, Seychelles corporation (20%) and Morgold Ltd, a Seychelles corporation (20%). Mr. Kingrich Lee, our Chief Executive Officer and majority shareholder is the sole shareholder of Kingrich Holding Ltd and his two sisters, Lijian Li and Yongjian Li are each the sole shareholder of each of Goldvito Ltd and Morgold Ltd, respectively. Pursuant to the Agreement, we paid US$40,000 and issued an aggregate 125,000,000 newly issued restricted shares of our common stock as consideration to Luckwel Asia.

Item 14. Principal Accounting Fees and Services

On June 10, 2019, Marcum LLP (“Marcum”) was appointed as the new independent registered public accounting firm for the Company. The decision to appoint Marcum was approved by the Company’s Board of Directors. Marcum LLP and Marcum ~~Berstein Pinchuk~~Bernstein & Pinchuk LLP (“MBP”) are affiliated firms operating under a common system of internal controls which would include consultation regarding the application of accounting principles to a specified transaction, completed or proposed, the type of audit opinion that might be rendered on our financial statements or a reportable event. The Company did not consult with Marcum regarding any disagreements on any matter of accounting principles or practices, financial statement disclosure, or auditing scope of procedure, which disagreements, if not resolved to the satisfaction of MBP, would have caused it to make a reference to the subject matter of the disagreements in connection with its reports. Simultaneously with the appointment of Marcum, on June 10, 2019, MBP was terminated as our independent registered public accounting firm.

The following is a summary of the fees billed to us by Marcum and MBP, for professional services rendered for the fiscal years ended March 31, ~~2019~~ 2020 and March 31, ~~2018~~2019, respectively:

	Year Ended March 31, 2019		Year Ended March 31, 2018
	Year Ended March 31, 2020		Year Ended March 31, 2019
Audit Fees and Audit Related Fees	$	5164,~~575~~114	$	6051,~~650~~575
Tax Fees		-		-
All Other Fees		-		-
Total	$	5164,~~575~~114	$	6051,~~650~~575

Pre-Approval Policies and Procedures

The Board of Directors pre-approves all audit and non-audit services performed by the Company’s auditor and the fees to be paid in connection with such services in order to assure that the provision of such services does not impair the auditor’s independence.

1916

PART IV

Item 15. Exhibits, Financial Statements Schedules

(a) Financial Statements and Schedules

The following financial statements and schedules listed below are included in this Form 10-K.

Financial Statements (See Item 8)

(b) Exhibits

Exhibit Number		Description
3.1		Articles of Incorporation(4)
3.2		Bylaws(1)
3.3		Amendment to Articles of Incorporation(2)
3.4		Certificate of Amendment to Articles of Incorporation (6)
3.5		Amended and Restated By-laws (6)
10.1		Employment Agreement(3)
10.2		Rental Agreement(1)
10.3		Exclusive License Agreement(2)
10.4		Custodian Agreement(2)
10.5		Termination of Custodian Agreement(2)
10.6		Engagement Letter & Agreement(3)
10.7		Termination of Engagement Letter & Agreement(3)
10.8		Amendment No. 1 to Exclusive License Agreement(3)
10.9		Amendment No. 2 to Exclusive License Agreement(5)
10.10		Oral Agreement for Compensation and Loans(4)
10.11		Employment Agreement between Kingrich Lee and Luckycom Limited (7)
10.12		Sold Note dated December 13, 2017 (8)
10.13		Instrument of Transfer dated December 13, 2017 (8)
10.14		Intellectual Property Sale and Purchase Agreement dated May 3, 2018 (9)
10.15		Employment Agreement between Kingrich Lee and Luckwel Pharmaceuticals Inc.* (11)
10.16		Servcorp Virtual Office Service Agreement (10)
21.1		List of Subsidiaries*
31.1*		Certification of Chief Executive Officer pursuant to Securities Exchange Act Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*		Certification of Chief Financial Officer pursuant to Securities Exchange Act Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1*		Certification of Chief 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 Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101*		The following materials from the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 formatted in Extensible Business Reporting Language (XBRL).

*Filed herewith.

(1)	Incorporated by reference to the Registration Statement on Form S-1 filed on April 12, 2013.
(2)	Incorporated by reference to the Registration Statement on Form S-1/A filed on July 8, 2013.
(3)	Incorporated by reference to the Registration Statement on Form S-1/A filed on September 6, 2013.
(4)	Incorporated by reference to the Registration Statement on Form S-1/A filed on October 10, 2013.
(5)	Incorporated by reference to the Registration Statement on Form S-1/A filed on January 10, 2014.
(6)	Incorporated by reference to the Current Report on Form 8-K filed on April 13, 2018.
(7)	Incorporated by reference to Exhibit 10.1 to the Annual Report on Form 10-K filed on June 27, 2017.
(8)	Incorporated by reference to Exhibits 2.1 and 2.2 to the Current Report on Form 8-K filed on December 18, 2017.
(9)	Incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed on May 7, 2018.
(10)	Incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed on June 20, 2018.
(11)	Incorporated by reference to Exhibit 10.15 to the Annual Report on Form 10-K filed on July 2, 2019.

Item 16. Form 10-K Summary

None.

2017

SIGNATURES

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

	Luckwel Pharmaceuticals Inc.
Dated: July 1, 2019	By:	/s/ Kingrich Lee
Dated: June 10, 2021	By:	/s/ Kingrich Lee
	Name:	Kingrich Lee
	Title:	Chief Executive Officer (Principal Executive Officer)

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

Signature	Title(s)	Date
/s/ Kingrich Lee	Chief Executive Officer and Director	~~July~~June 110, ~~2019~~2021
Kingrich Lee	(Principal Executive Officer)
/s/ Kingrich Lee	Chief Financial Officer	June 10, 2021
Kingrich Lee	(Principal Financial and Accounting Officer)

/s/ Kingrich Lee		Chief Financial Officer		July 1, 2019
Kingrich Lee		(Principal Financial and Accounting Officer)

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