~~UNITED~~ ~~STATESSECURITIES~~ 0001657564 false 2022 Q2 --02-28 ~~AND~~ ~~EXCHANGE~~ 0001657564 2021-03-01 2021-08-31 0001657564 2021-10-14 0001657564 2021-08-31 0001657564 2021-02-28 0001657564 2021-06-01 2021-08-31 0001657564 2020-06-01 2020-08-31 0001657564 2020-03-01 2020-08-31 0001657564 us-gaap:CommonStockMember 2020-02-29 0001657564 us-gaap:AdditionalPaidInCapitalMember 2020-02-29 0001657564 us-gaap:RetainedEarningsMember 2020-02-29 0001657564 2020-02-29 0001657564 us-gaap:CommonStockMember 2020-03-01 2020-05-31 0001657564 us-gaap:AdditionalPaidInCapitalMember 2020-03-01 2020-05-31 0001657564 us-gaap:RetainedEarningsMember 2020-03-01 2020-05-31 0001657564 2020-03-01 2020-05-31 0001657564 us-gaap:CommonStockMember 2020-05-31 0001657564 us-gaap:AdditionalPaidInCapitalMember 2020-05-31 0001657564 us-gaap:RetainedEarningsMember 2020-05-31 0001657564 2020-05-31 0001657564 us-gaap:CommonStockMember 2020-06-01 2020-08-31 0001657564 us-gaap:AdditionalPaidInCapitalMember 2020-06-01 2020-08-31 0001657564 us-gaap:RetainedEarningsMember 2020-06-01 2020-08-31 0001657564 us-gaap:CommonStockMember 2020-08-31 0001657564 us-gaap:AdditionalPaidInCapitalMember 2020-08-31 0001657564 us-gaap:RetainedEarningsMember 2020-08-31 0001657564 2020-08-31 0001657564 us-gaap:CommonStockMember 2021-02-28 0001657564 us-gaap:AdditionalPaidInCapitalMember 2021-02-28 0001657564 us-gaap:RetainedEarningsMember 2021-02-28 0001657564 us-gaap:CommonStockMember 2021-03-01 2021-05-31 0001657564 us-gaap:AdditionalPaidInCapitalMember 2021-03-01 2021-05-31 0001657564 us-gaap:RetainedEarningsMember 2021-03-01 2021-05-31 0001657564 2021-03-01 2021-05-31 0001657564 us-gaap:CommonStockMember 2021-05-31 0001657564 us-gaap:AdditionalPaidInCapitalMember 2021-05-31 0001657564 us-gaap:RetainedEarningsMember 2021-05-31 0001657564 2021-05-31 0001657564 us-gaap:CommonStockMember 2021-06-01 2021-08-31 0001657564 us-gaap:AdditionalPaidInCapitalMember 2021-06-01 2021-08-31 0001657564 us-gaap:RetainedEarningsMember 2021-06-01 2021-08-31 0001657564 us-gaap:CommonStockMember 2021-08-31 0001657564 us-gaap:AdditionalPaidInCapitalMember 2021-08-31 0001657564 us-gaap:RetainedEarningsMember 2021-08-31 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure ~~COMMISSION~~

~~Washington,~~Table ~~D.C.~~of ~~20549~~Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

[X]	QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED AUGUST 31, 2017
OR
[ ]	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

(Mark One)

COMMISSION FILE NO. 333-210573

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

	For the quarterly period ended August 31, 2021

or

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

	For the transition period from _____ to _____

Commission File Number: 000-56314

GABBIT CORP.

(Exact ~~name~~Name of ~~registrant~~Registrant as ~~specified~~ Specified in its ~~charter~~Charter)

Nevada (State or Other Jurisdiction of Incorporation or Organization) 37-1790061 IRS Employer Identification Number 7990 Primary Standard Industrial Classification Code Number

Nevada

37-1790061

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

Gymnasiumstrasse 19-21,

9130 South Dadeland Blvd. Suite 1528 Miami, FL		33156
(Address of principal executive offices)		(Zip code)

~~Vienna~~1 888 679 3350 (Registrant’s telephone number, ~~Austria~~including ~~1180~~area code)

~~Tel~~Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ~~+43-720-816-770~~Yes ☒ No ☐

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

~~Check~~Indicate ~~whether~~by ~~the~~check ~~issuer~~mark ~~(1)~~whether the ~~filed~~registrant ~~all~~is ~~reports~~a ~~required~~large toaccelerated befiler, ~~filed~~an byaccelerated ~~Section~~filer, 13a ornon-accelerated ~~15(d)~~filer, ofa ~~the~~smaller ~~Exchange~~reporting ~~Act~~company ~~during the past 12 months (~~or, ~~for~~an ~~such~~emerging growth ~~shorter~~company. ~~period~~See ~~that~~ the ~~registrant~~definitions ~~was~~of ~~required~~“large toaccelerated ~~file~~filer,” ~~such~~“accelerated ~~reports)~~filer”, ~~and~~“smaller ~~(2)~~reporting company”, ~~has~~and ~~been~~“emerging ~~subject~~growth tocompany”, ~~such~~in ~~filing~~Rule ~~requirements~~12b-2 ~~for~~of the ~~last~~Exchange ~~90 days~~Act. ~~YES [] NO [X ]~~

~~Indicate~~Large ~~by check mark whether the registrant is a large~~ accelerated filer, an☐ ~~accelerated~~Accelerated filer, a☐ ~~non~~Non-accelerated filer, or☒ aSmaller ~~smaller~~ reporting company. ~~See~~☒ ~~the~~Emerging ~~definitions~~growth ~~of “large accelerated filer, “accelerated filer,” “non-accelerated filer,” and “smaller reporting~~ company” ~~in Rule 12b-2 of the Exchange Act.~~☐

~~Large~~If ~~accelerated~~an ~~filer~~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. ☐

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

~~Non-accelerated~~Securities ~~filer~~registered [pursuant to ]Section 12(b) of the Act: None

~~Smaller~~Securities ~~reporting~~registered ~~company~~pursuant to ~~[X]~~Section 12(g) of the Act:

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

Common Stock, $0.001 par value	GBTT	OTC

As of October 14, 2021, there were 11,490,000 shares of the registrant’s common stock, $0.001 par value, outstanding.

Gabbit Corp.

TABLE OF CONTENTS

	Part I. Financial Information	Page No.

Item 1.	Financial Statements of Gabbit Corp.

	Condensed Balance Sheets -	1
	August 31, 2021 (Unaudited) and February 28, 2021

	Condensed Statements of Operations - Three Months and Six Months Ended August 31, 2021 and 2020 (Unaudited)	2

	Condensed Statement of Changes in Stockholders’ Equity - Six Months Ended August 31, 2021 and 2020 (Unaudited)	3

	Condensed Statements of Cash Flows - Six Months Ended August 31, 2021 and 2020 (Unaudited)	4

	Notes to Financial Statements - Six Months Ended August 31, 2021 and 2020 (Unaudited)	5


Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	8

Item 3.	Quantitative and Qualitative Disclosures about Market Risk	10

Item 4.	Controls and Procedures	10

	Part II. Other Information

Item 5.	Unregistered Sales of Equity Securities and Use of Proceeds	11

Item 6.	Other Information	11

Item 7.	Exhibits	11

SIGNATURES		12

PART I. FINANCIAL INFORMATION

Item 1.

Financial Statements.

Gabbit Corp.

BALANCE SHEETS

	August 31, 2021 (Unaudited)			February 28, 2021
Assets
Cash	$	–		$	–
Total Assets	$	–		$	–

Liabilities & Stockholders' Equity

Liabilities
Other liabilities	$	4,739		$	4,739
Due to related party		17,194			7,466
Total liabilities	$	21,933		$	12,205

Stockholders' Equity
Common stock, $0.001 par value 75,000,000 shares authorized; 11,490,000 shares issued and outstanding as of August 31, 2021 and February 28, 2021		11,490			11,490
Additional paid-in capital		22,410			22,410
Accumulated deficit		(55,833	)		(46,105	)
Total Equity	$	(21,933	)	$	(12,205	)

Total Liabilities & Stockholders' Equity	$	–		$	–

See accompanying notes to condensed financial statements.

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

~~State~~STATEMENTS ~~the~~OF ~~number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: 11,490,000 as of October 21, 2017.~~OPERATIONS

(Unaudited)


	Three Months Ended August 31,						Six Months Ended August 31,
	2021			2020			2021			2020

Expenses
General and administration expenses		9,428			950			9,728			1,350
Loss from operations		(9,428	)		(950	)		(9,728	)		(1,350	)

Income tax expense		–			–			–			–
Net loss	$	(9,428	)		(950	)		(9,728	)		(1,350	)

Basic and diluted loss per share	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)

Weighted Average Number of Common Shares Outstanding: Basic and Diluted		11,490,000			11,490,000			11,490,000			11,490,000

See accompanying notes to condensed financial statements.

~~TABLE~~Gabbit ~~OF CONTENTS~~Corp.

PART I FINANCIAL INFORMATION
ITEM 1	FINANCIAL STATEMENTS	3
	CONDENSED BALANCE SHEETS	3
	CONDENSED STATEMENTS OF OPERATIONS (unaudited)	4
	CONDENSED STATEMENTS OF CASH FLOWS (unaudited)	5
	NOTES TO CONDENSED UNAUDITED FINANCIAL STATEMENTS	6
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	8
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	10
ITEM 4.	CONTROLS AND PROCEDURES	10
PART II OTHER INFORMATION
ITEM 1	LEGAL PROCEEDINGS	11
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	11
ITEM 3	DEFAULTS UPON SENIOR SECURITIES	11
ITEM 4	MINE SAFETY DISCLOSURES	11
ITEM 5	OTHER INFORMATION	11
ITEM 6	EXHIBITS	11
	SIGNATURES	12

STATEMENTS OF STOCKHOLDERS' EQUITY

(Unaudited)


	Common Shares		Common Stock		Additional Paid-in Capital		Accumulated Deficit			Stockholders' Equity

Balance at March 1, 2020		11,490,000	$	11,490	$	22,410	$	(44,155	)	$	(10,255	)

Net loss		–		–		–		(400	)		(400	)

Balance at May 31, 2020		11,490,000	$	11,490	$	22,410	$	(44,555	)	$	(10,655	)

Net loss		–		–		–		(950	)		(950	)

Balance at August 31, 2020		11,490,000	$	11,490	$	22,410	$	(45,505	)	$	(11,605	)

Balance at March 1, 2021	11,490,000	$	11,490	$	22,410	$	(46,105	)	$	(12,205	)

Net loss	–		–		–		(300	)		(300	)

Balance at May 31, 2021	11,490,000	$	11,490	$	22,410	$	(46,405	)	$	(12,505	)

Net loss	–		–		–		(9,428	)		(9,428	)

Balance at August 31, 2021	11,490,000	$	11,490	$	22,410	$	(55,833	)	$	(21,933	)

See accompanying notes to condensed financial statements.

GABBIT CORP. BALANCE SHEETS (UNAUDITED)
			AUGUST 31, 2017	FEBRUARY 28, 2017
ASSETS
Current Assets
		Cash	$ 0	$ 32,464
		Total Current assets	0	32,464
Non- Current assets
Equipment			3,965	2,157
	Total Non-Current Assets		3,965	2,157
Total Assets			$ 3,965	$ 34,621
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
		Loan from related parties	$ 3,842	$ 1,692
		Deferred Revenue	0	0
		Total current liabilities	3,842	1,692
Total Liabilities			3,842	1,692
Stockholders’ Equity
		Common stock, $0.001 par value, 75,000,000 shares authorized;
		11,490,000 shares issued and outstanding	11,490	11,490
		Additional paid-in-capital	22,410	22,410
		Retained earnings (Deficit)	(33,777)	(971)
Total Stockholders’ Equity			123	32,929
Total Liabilities and Stockholders’ Equity			$ 3,965	$ 34,621

Gabbit Corp.

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

GABBIT CORP. STATEMENTS OF OPERATIONS (UNAUDITED)
	Three months ended August 31, 2017	Three months ended August 31, 2016	Six months ended August 31, 2017	Six months ended August 31, 2016
Revenue	$ -	$ -	$ 8,500	$ 5,000
Operating expenses
General and administrative expenses	38,000	1,417	41,306	6,584
Net income (loss) from operations	(38,000)	(1,417)	(32,806)	(1,584)
Income ( Loss) before taxes	(38,000)	(1,417)	(32,806)	(1,584)
Provision for taxes			-	-
Net income (loss)	$ (38,000)	$ (1,417)	$ (32,806)	$ (1,584)
Loss per common share: Basic and Diluted	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Weighted Average Number of Common Shares Outstanding: Basic and Diluted	11,490,000	9,041,304	11,490,000	9,020,652

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

GABBIT CORP.

STATEMENTS OF CASH FLOWS

(Unaudited)


	Six Months Ended
	August 31, 2021			August 31, 2020

Cash flow from operating activities:
Net Loss	$	(9,728	)	$	(1,350	)
Net cash used in operating activities		(9,728	)		(1,350	)

Cash flow from financing activities:
Related party loan		9,728			1,350
Net cash provided by financing activities		9,728			1,350

Net change in cash		–			–

Cash at beginning of period		–			–
Cash at end of period	$	–		$	–

Supplemental disclosure of cash flow information:
Cash paid for interest	$	–		$	–
Cash paid for taxes	$	–		$	–

See accompanying notes to condensed financial statements.

Gabbit Corp.

NOTES TO FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED AUGUST 31, 2021

(UNAUDITED)

		Six months ended August 31, 2017	Six Months Ended August 31, 2016
Operating Activities
	Net income (loss)	$ (32,806)	$ (1,584)
	Deferred Revenue	-	(2,500)
	Amortization	692	334
	Net cash provided (used in) operating activities	(32,114)	(3,750)
Investing Activities
	Equipment	$ (2,500)	$ -
	Net cash used in investing activities	(2,500)	-
Financing Activities
	Proceeds from sale of common stock	-	1,800
	Proceeds from loan from shareholder	2,150	-
	Net cash provided by financing activities	2,150	1,800
Net increase in cash and equivalents		(32,464)	(1,950)
Cash and equivalents at beginning of the period		32,464	9,493
Cash and equivalents at end of the period		0	$ 7,543
	Supplemental cash flow information:
	Cash paid for:
	Interest	$ -	$ -
	Taxes	$ -	$ -

Note 1 – Organization and Basis of Presentation

~~The~~Organization ~~accompanying~~and ~~notes are an integral part~~ Basis of ~~these~~Presentation ~~financial statements.~~

6Gabbit Corp. (the “Company”) is a corporation incorporated under the laws of the State of Nevada on August 16, 2015 and ceased operations in early 2018. On November 20, 2019, the Company filed a Certificate of Reinstatement with the State of Nevada.

~~GABBIT~~The Company ~~CORP~~plans to develop a technology-enabled, diversified commercial finance platform serving a wide range of small-to-medium businesses who require access to working or growth capital, for whom traditional banking and finance channels are unworkable or unavailable, due to; time constraints, credit-worthiness, seasonality, lack of operating history and or the business’ owners are generally unbanked individuals.

~~NOTES~~The TOaccompanying ~~THE~~financial ~~UNAUDITED~~statements ~~FINANCIAL~~are ~~STATEMENTS~~prepared on the basis of accounting principles generally accepted in the United States of America (“GAAP”) and have been prepared assuming the continuation of the Company as a going concern. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and is dependent on debt and equity financing to fund its operations. Management of the Company is making efforts to raise additional funding until a registration statement relating to an equity funding facility is in effect. While management of the Company believes that it will be successful in its capital formation and planned operating activities, there can be no assurance that the Company will be able to raise additional equity capital or be successful in the development and commercialization of the products it develops or initiates collaboration agreements thereon. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.

~~FOR~~Note ~~THE~~2 ~~THREE~~– ~~AND~~Summary ~~SIX~~of significant ~~MONTHS~~accounting ~~ENDED AUGUST 31, 2017 AND 2016~~policies

NOTE 1 – ORGANIZATION AND BASIS OF PRESENTATION

GABBIT CORP. (the “Company”) is a corporation established under the corporation laws in the State of Nevada on August 16, 2015.

The Company commences operations in the business of providing individual and group extremal tour to Austrian Alps.

The Company has adopted February 28 fiscal year end.

Basis of Presentation

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

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions.

Cash and Cash Equivalents

~~For~~The ~~purposes of the statement of cash flows, the~~ Company ~~considers~~doesn’t ~~all~~maintain any ~~highly~~bank ~~liquid~~accounts ~~instruments~~and ~~purchased~~does ~~with~~not anhave ~~original~~any ~~maturity of three months or less to be~~ cash ~~equivalents. The Company's bank accounts are deposited~~ in ~~insured institutions~~hand. ~~The~~For ~~funds are insured up~~ day-to-day ~~$250,000.~~business ~~At August 31~~activities, ~~2017,~~ the Company's ~~bank~~depends ~~deposits~~upon ~~did not exceed~~ the ~~insured~~directors’ personal ~~amounts~~accounts.

~~Advertising~~For ~~Costs~~purposes of reporting within the statements of cash flows, the Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents.

~~The Company’s policy regarding advertising is to expense advertising when incurred. The Company incurred advertising expense~~ Use of ~~$0 during the period from inception (August 16, 2015) to August 31, 2017.~~Estimates

~~Basic~~The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and ~~Diluted~~assumptions ~~Loss~~that ~~Per~~affect ~~Share~~the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.5

~~Stock-Based~~Loss ~~Compensation~~per Common Share

AsNet loss per common share is computed by dividing net loss by the weighted average number of ~~August~~common ~~31,~~shares ~~2017~~outstanding for the period. As a result, diluted loss per common share is the ~~Company~~same ~~has~~as ~~not~~basic ~~issued~~loss ~~any~~per ~~stock-based~~common ~~payments~~share tofor ~~its~~the ~~employees~~three and six months ended August 31, 2021 and 2020.

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

Income Taxes

The Company ~~follows~~accounts ~~the~~for ~~liability~~income taxes ~~method~~pursuant ofto ~~accounting~~FASB ~~for~~ASC ~~income~~Topic ~~taxes~~740, Income Taxes. Under ~~this~~FASB ~~method~~ASC Topic 740, deferred ~~income~~ tax assets and liabilities are ~~recognized~~determined based ~~for~~on ~~the~~temporary ~~estimated tax consequences attributable to~~ differences between the ~~financial~~bases ~~statement~~of ~~carrying~~certain ~~values~~assets and ~~their~~liabilities ~~respective~~for income tax ~~basis~~and ~~(temporary~~financial ~~differences)~~reporting purposes. ~~The~~ ~~effect on~~ The deferred ~~income~~ tax assets and liabilities ofare aclassified ~~change~~according into ~~tax~~the ~~rates~~financial isstatement ~~recognized~~classification inof ~~income in~~ the ~~period~~assets ~~that~~and ~~includes~~liabilities generating the ~~enactment date~~differences.

~~New~~The ~~Accounting~~Company ~~Pronouncements~~maintains a valuation allowance with respect to deferred tax assets. The Company establishes a valuation allowance based upon the potential likelihood of realizing the deferred tax asset and taking into consideration the Company’s financial position and results of operations for the current period. Future realization of the deferred tax benefit depends on the existence of sufficient taxable income within the carry-forward period under the Federal tax laws.

~~There~~Changes ~~were~~in ~~various~~circumstances, ~~accounting~~such as ~~standards~~the ~~and~~Company ~~interpretations~~generating ~~issued~~taxable ~~recently~~income, ~~none~~could cause a change in judgment about the reliability of ~~which~~the ~~are~~related ~~expected~~deferred totax aasset. ~~have~~Any change ain ~~material~~the ~~impact~~valuation onallowance ~~our~~will ~~financial~~be ~~position,~~included ~~operations~~in orincome ~~cash~~in ~~flows~~the year of the change in estimate.

~~Subsequent~~Recent ~~Events~~Accounting Pronouncements

The Company ~~has~~reviewed ~~evaluated~~ all ~~transactions~~the recently ~~from~~issued, ~~August~~but 31not yet effective, ~~2017~~accounting ~~through~~pronouncements ~~the~~and ~~financial~~we ~~statement~~do ~~issuance~~not ~~date~~believe ~~for~~any ~~subsequent~~of ~~event~~these ~~disclosure~~pronouncements ~~consideration~~will have a material impact on the Company.

~~NOTE~~ Note 3 – ~~CAPTIAL~~Going ~~STOCK~~Concern

~~The~~For ~~Company~~the ~~has~~six 75months ended August 31,~~000~~ 2021 and 2020 we incurred net losses of approximately $9,~~000~~728 ~~shares~~and $1,350 respectively. As of ~~common~~August ~~stock~~31, ~~authorized~~2021, ~~with~~we ahad ~~par~~no ~~value~~cash on hand and current liabilities of $021,933.~~001~~ ~~per~~As ~~share~~of February 28, 2021, we had no cash on hand and current liabilities of $12,205. These losses combined with our current liabilities cast significant doubt on the company’s ability to operate under the going concern. The Company filed a Registration Statement; Form-10 which became effective on September 22, 2021. Management believes that this plan provides an opportunity for the Company to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its 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 loans from directors and/or private placement of common stock. The failure to achieve the necessary levels of profitability or obtaining additional funding would be detrimental to the Company.

OnNote ~~February~~4 ~~16,~~– ~~2016~~Related the Company issued 9,000,000 shares of its common stock at $0.001 per share for total proceeds of $9,000. For the year ended February 28, 2017, the Company issued 2,490,000 shares of its common stock at $0.01 per share for total proceeds of $24,900.party transactions

The Company’s Co-CEO has provided office space at no cost to the Company. Our Co-CEO and CFO incurred expenses on behalf of the Company amounting to $9,728 and $1,350 during the six months ending August 31, 2021 and 2020 respectively. As of August 31, ~~2017~~2021 ~~the~~and ~~Company~~February 28, ~~had~~2021, 11total amounts due to our Co-CEO and CFO are $17,~~490~~194 and $7,~~000~~466 ~~shares~~respectively. ~~issued~~Such amounts do not bear any interest and ~~outstanding~~due upon demand.

~~NOTE 4 – RELATED PARTY TRANSACTIONS~~6

InNote ~~support~~5 of– ~~the Company~~Shareholders’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by officers, directors, or shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note. Equity

~~Since~~The Company ~~August~~has 1675, ~~2015 (inception) through August 31~~000,000 ~~2017,~~shares ~~the~~of ~~Company’s~~common ~~sole~~stock ~~officer~~authorized ~~and~~with ~~director~~a ~~loaned~~par ~~the~~value ~~Company~~of $~~3,842~~0.001 toper ~~pay for incorporation costs and operating expenses~~share. As of August 31, ~~2017,~~2021 ~~the~~and ~~amount~~February 28, ~~outstanding was $3~~2021,~~842.~~ ~~The~~the ~~loan~~Company ishad ~~non-interest bearing~~11,490,000 ~~due~~shares ~~upon~~issued ~~demand~~ and ~~unsecured~~outstanding.

Note 6 – Income Taxes

The Company accounts for income taxes under FASB ASC Topic 740, which requires use of the liability method. FASB ASC Topic 740 provides that deferred tax assets and liabilities are recorded based on the differences the tax basis of assets and liabilities and their carrying amounts for financial reporting purposes, referred to as temporary differences.

As of August 31, 2021, the Company incurred a net operating loss and, accordingly, no provision for income taxes has been recorded. In addition, no benefit for income taxes has been recorded due to the uncertainty of the realization of any tax assets. The Company has approximately $56,000 and $46,000 of federal net operating loss carry forwards at August 31, 2021 and February 28, 2021, respectively. In addition, the Company had gross deferred tax assets of approximately $12,000 and $10,000 as of August 31, 2021 and February 28, 2021 for which a full valuation allowance has provided.

Based on the available objective evidence, including the Company's history of losses, management believes it is more likely than not, the net deferred tax assets will not be fully realizable. Accordingly, the Company provided for a full valuation allowance against its net deferred tax assets at August 31, 2021 and February 28, 2021. The Company had no uncertain tax positions as of August 31, 2021 and February 28, 2021.

Note 7 – Other Liabilities

As of August 31, 2021 and February 28 2021, the Company has Other Liabilities of $4,739 payable to its former CEO.

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

Cautionary Statement Regarding Forward-Looking Statements

This report contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward looking statements. Forward-looking statements are not statements of historical facts, but rather reflect our current expectations concerning future events and results. The words “may,” “will,” “anticipate,” “should,” “would,” “believe,” “contemplate,” “could,” “project,” “predict,” “expect,” “estimate,” “continue,” and “intend,” as well as other similar words and expressions of the future, are intended to identify forward-looking statements.

Factors that may cause actual results to differ from those results expressed or implied, include, but are not limited to, those listed under “Risk Factors” in our Registration Statement on Form 10 / A for the year ended February 28, 2021 filed by the Company with the Securities and Exchange Commission (the “SEC”) on September 24, 2021.

These forward-looking statements generally relate to our plans, objectives and expectations for future events and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. These statements are based upon our opinions and estimates as of the date they are made. Although we believe that the expectations reflected in these forward-looking statements are reasonable, such forward-looking statements are subject to known and unknown risks and uncertainties that may be beyond our control, which could cause actual results, performance and achievements to differ materially from results, performance and achievements projected, expected, expressed or implied by the forward-looking statements. While we cannot assess the future impact that any of these differences could have on our business, financial condition, results of operations and cash flows or the market price of shares of our common stock, the differences could be significant. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this report and you are urged to consider all such risks and uncertainties. In light of the uncertainty inherent in such forward-looking statements, you should not consider their inclusion to be a representation that such forward-looking matters will be achieved.

General Overview

Results of operations

Three months ended August 31, 2021 compared to the three months ended August 31, 2020

Net Loss

For the three months ended August 31, 2021 and 2020 we incurred net losses of approximately $9,428 and $950 respectively.

Revenue

For the three months ended August 31, 2021 and 2020, we generated no revenue.

~~ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION~~Expenses

~~FORWARD~~For ~~LOOKING~~the ~~STATEMENTS~~three months ended August 31, 2021 we incurred expenses of approximately $9,428 and which was primarily related to professional fees.

~~Statements~~For ~~made in this Form 10-Q that are not historical or current facts are "forward-looking statements" made pursuant to~~ the ~~safe~~three ~~harbor~~months ~~provisions~~ended ofAugust ~~Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may~~31," ~~"will~~2020," ~~"expect,"~~we ~~"believe,"~~incurred ~~"anticipate,"~~administrative expenses ~~"estimate,"~~of ~~"approximate"~~approximately or$950 "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which ~~speak~~was ~~only~~primarily asrelated ~~of the date made. Any forward-looking statements represent management's best judgment as~~ to ~~what~~transfer ~~may~~agent ~~occur in the future~~fees. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

~~GENERAL~~Six months ended August 31, 2021 compared to the six months ended August 31, 2020

WeNet provide group leisure tours in the Austrian Alps with extreme activities aimed at general public. We plan the tours in such a way, that they might be experienced by an experienced tourist, as well as an average person. The key objectives are as follows: quality and diversity of the activities, safety of our customers.Loss

WeFor ~~target general worldwide public to promote tourism in~~ the ~~mentioned~~six ~~area.~~months Weended ~~choose~~August ~~this~~31, 2021 ~~mountain~~and ~~area~~2020 ~~proceeding~~we ~~from~~incurred ~~our~~net ~~own~~losses ~~touristic~~of ~~experience~~approximately in$9,728 ~~this~~and ~~region~~$1,350 respectively.

Our principal office address is located at Gymnasiumstrasse 19-21, Vienna, Austria 1180. Our telephone number is +43-720-816-770. Our plan of operation is forward-looking and there is no assurance that we will ever reach profitable operations. We are a development stage company and have generated $19,500 in revenues as of today. We were incorporated in Nevada on August 16, 2015. On February 20, 2016, we signed the Agreement with EcoFur&Ris, LLC. Revenue

~~RESULTS~~For OFthe ~~OPERATION~~six months ended August 31, 2021 and 2020, we generated no revenue.

We have incurred recurring losses to date. Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation. We expect we will require additional capital to meet our long term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities. Expenses

~~THREE~~For ~~MONTH~~the ~~PERIOD~~six ~~ENDED~~months ~~AUGUST~~ended August 31, 2021 ~~2017~~we incurred expenses of approximately $9,728 and which was primarily related to professional fees.

~~REVENUE~~For the six months ended August 31, 2020, we incurred administrative expenses of approximately $1,350 which was primarily related to transfer agent fees.

~~During~~Financial ~~the three month period ended August 31, 2017 we have not generated any revenue.~~ condition

~~OPERATING~~Liquidity ~~EXPENSES~~and Capital Resources

~~During the three month period ended August 31~~Currently, ~~2017,~~ we ~~incurred~~rely ~~general~~on ~~and~~our management ~~administrative~~to ~~expenses~~provide ofus ~~$38,000. General~~with ~~and administrative expenses incurred during~~ the ~~three~~capital ~~month~~needed ~~period~~to ~~ended~~run ~~August~~our ~~31,~~business ~~2017~~on ~~were~~a ~~generally related~~ day-to-day ~~corporate overhead, financial and administrative contracted services, such as legal and accounting, developmental costs, and consulting expenses~~basis.

For the six months ended August 31, 2021 and 2020 we incurred net losses of approximately $9,728 and $1,350 respectively. As of August 31, 2021 we had no cash on hand and current liabilities of $21,933. As of February 28, 2021, we had no cash on hand and current liabilities of $12,205.

We will seek additional funds through equity or debt financing, collaborative or other arrangements with corporate partners, licensees or others, and from other sources, which may have the effect of diluting the holdings of existing shareholders. The Company has no current arrangements with respect to, or sources of, such additional financing and we do not anticipate that existing shareholders will provide any portion of our future financing requirements.

No assurance can be given that additional financing will be available when needed or that such financing will be available on terms acceptable to the Company. If adequate funds are not available, we may be required to delay or terminate expenditures for certain of its programs that it would otherwise seek to develop and commercialize. This would have a material adverse effect on the Company.

~~NET~~Item ~~LOSS~~3. Quantitative and Qualitative Disclosures About Market Risk

~~Our~~Not ~~net loss for the three month period ended August 31, 2017 was $38,000~~required.

~~SIX~~Item ~~MONTH~~4. ~~PERIOD~~Controls ~~ENDED~~and ~~AUGUST 31, 2017~~Procedures

~~REVENUE~~The Company’s principal executive officer and principal financial officer, with the assistance of other members of the Company’s management, have evaluated the effectiveness of the design and operation of the Company’s disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the period covered by this quarterly report. Based upon such evaluation, the Company’s principal executive officer and principal financial officer have concluded that the Company’s disclosure controls and procedures are not effective as of the end of the period covered by this quarterly report.

~~During~~The Company’s principal executive officer and principal financial officer have also concluded that there was no change in the ~~six~~Company’s ~~month~~internal ~~period~~control over financial reporting (as such term is defined in Rule 13a-15(f) under the Exchange Act) that occurred during the quarter ended August 31, ~~2017~~2021 wethat ~~have~~has ~~generated~~materially $8affected,~~500~~ ~~revenue.~~or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

OPERATING EXPENSES

During the six month period ended August 31, 2017, we incurred general and administrative expenses of $41,306. General and administrative expenses incurred during the six month period ended August 31, 2017 were generally related to corporate overhead, financial and administrative contracted services, such as legal and accounting, developmental costs, and consulting expenses.

NET LOSS

Our net income for the six month period ended August 31, 2017 was $32,806.

LIQUIDITY AND CAPITAL RESOURCES

SIX MONTH PERIOD ENDED AUGUST 31, 2017

As of August 31, 2017, our total assets were $3,965 compared to $34,621 in total assets at February 28, 2017. Total assets as of August 31, 2017, comprised of $3,965 in net fixed assets while as at February 28, 2017 total assets comprised cash of $32,464 and fixed assets of $2,157. As of August 31, 2017, our current liabilities were $3,842, comprising of $3,842 a loan from shareholder. As of February 28, 2017, our current liabilities were $1,692 comprising of $1,692 a loan form shareholder.

Stockholders’ equity was $32,929 as of February 28, 2017, compared to Stockholders’ equity of $123 as of August 31, 2017.

CASH FLOWS FROM OPERATING ACTIVITIES

For the six month period ended August 31, 2017, net cash flows provided by operating activities were $32,114 consisting of a net loss of $32,806 and reduced for cash flow purposes by non-cash depreciation expense of $692.

CASH FLOWS FROM INVESTING ACTIVITIES

For the six month period ended August 31, 2017, net cash flow used in investing activities was $2,500.

CASH FLOWS FROM FINANCING ACTIVITIES

For the six month period ended August 31, 2017, net cash provided from financing activities was $2,150 received from the loan from related party.

PLAN OF OPERATION AND FUNDING

We expect that working capital requirements will continue to be funded through a combination of our existing funds, further issuances of securities and loans from our principal shareholder. Our working capital requirements are expected to increase in line with the growth of our business.

Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next six months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations.

MATERIAL COMMITMENTS

As of August 31, 2017, we had no material commitments.

PURCHASE OF SIGNIFICANT EQUIPMENT

We do not intend to purchase any significant equipment during the next twelve months.

OFF-BALANCE SHEET ARRANGEMENTS

As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

GOING CONCERN

The independent auditors' audit report accompanying our February 28, 2017 financial statements contained an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not applicable for smaller reporting companies.

ITEM 4. CONTROLS AND PROCEDURES

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of August 31, 2017. Based on that evaluation, our management concluded that our disclosure controls and procedures were effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Such officer also confirmed that there was no change in our internal control over financial reporting during the six-month period ended August 31, 2017 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II. OTHER INFORMATION

~~ITEM~~Item 15. ~~LEGAL~~Unregistered ~~PROCEEDINGS~~Sales of Equity Securities and Use of Proceeds.

~~Management~~Purchases ~~is not aware~~ of ~~any~~Equity legal proceedings contemplated by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.Securities

~~ITEM~~We 2.did ~~UNREGISTERED~~not, ~~SALES~~nor OFdid ~~EQUITY~~any ~~SECURITIES~~affiliated ~~AND~~purchaser, ~~USE~~make OFany ~~PROCEEDS~~repurchases of our securities during the six months ended August 31, 2021.

NoItem ~~sale~~6. ofOther ~~unregistered equity securities was completed during six months ended August 31, 2017.~~Information

~~ITEM 3. DEFAULTS UPON SENIOR SECURITIES~~None

NoItem ~~senior~~7. ~~securities were issued of outstanding during six months ended August 31, 2017~~Exhibits.

ITEM 4. MINE SAFETY DISLOSURES

Exhibit No.		Description

31.1	*	Certification of principal executive officer of the Company, pursuant to Securities Exchange Act Rule 13a-14(a)

31.2	*	Certification of principal financial officer of the Company, pursuant to Securities Exchange Act Rule 13a-14(a)

32.1	*	Certifications pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of The Sarbanes-Oxley Act of 2002, signed by the principal executive officer of the Company and the principal financial officer of the Company

101.INS	**	Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document)
101.SCH	**	Inline XBRL Taxonomy Extension Schema Document
101.CAL	**	Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	**	Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	**	Inline XBRL Taxonomy Extension Labels Linkbase Document
101.PRE	**	Inline XBRL Taxonomy Extension Presentation Linkbase Document
104	**	Cover Page Interactive Data File (formatted in IXBRL, and included in exhibit 101).

No*Filed ~~applicable to our Company.~~herewith

~~ITEM~~**Pursuant 5.to ~~OTHER~~Rule ~~INFORMATION~~406T of Regulation S-T, these interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933 or Section 18 of the Securities Act of 1934 and otherwise are not subject to liability.

~~None.~~11

ITEM 6. EXHIBITS

Exhibits:

31.1 Certification of Chief Executive Officer and Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).

32.1 Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.

101 Interactive data files pursuant to Rule 405 of Regulation S-T.

SIGNATURES

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

~~GABBIT CORP.~~	GABBIT CORP.
Dated: October 20, 2017	By: /s/ Vladimir Karelin
Date: October 14, 2021	By:	/s/ ADAM LAUFER
	Vladimir Karelin President and Chief Executive Officer and Chief Financial Officer
		Name:	Adam Laufer
		Title:	Co-chief Executive Officer (Principal Executive Officer)
Date: October 14, 2021	By:	/s/ PAVAN CHARAN
		Name:	Pavan Charan
		Title:	Chief Financial Officer and
			Chief Accounting Officer
			(Principal Financial Officer)

Filing Compare · Gabbit Corp.