UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

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

For the quarterly period ended ~~September~~March 3031, ~~2021~~2022

o☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from ~~______________~~___________ to ~~_____________~~ _______________

Commission file number 333-~~197889~~177792

THE TEARDROPPERS, INC.

(Exact name of small business issuer as specified in its charter)

Nevada	20-4168979
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)

620 Newport Center Drive Suite 1100 ~~PMB 488~~

Newport Beach, CA 92660

(Address of principal executive offices)

949-751-2173

(Issuer’s telephone number)

_______________________________________________

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

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

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
None	N/A	N/A

~~Securities~~Check ~~registered~~whether ~~pursuant~~the issues (1) filed all reports required to be filed by Section 1213 or 15(gd) of the Exchange Act: ~~None~~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. Yes ☒ No ☐

~~Check~~ Indicate by check mark whether the ~~issues~~registrant has ~~(1)~~submitted ~~filed~~electronically ~~all~~every ~~reports~~Interactive Data File required to be ~~filed~~submitted bypursuant ~~Section~~to 13Rule or405 ~~15(d)~~ of ~~the~~Regulation ~~Exchange~~S-T ~~Act~~(§232.405 of this chapter) during the ~~past~~preceding 12 months (or for such shorter period that the registrant was required to ~~file~~submit such ~~reports~~files)~~, and (2) has been subject to such filing requirements for the past 90 days~~. Yes x ☒ No o ☐

Indicate by check mark whether the registrant is ~~has~~a ~~submitted~~large ~~electronically~~accelerated ~~every~~filer, ~~Interactive~~an ~~Data~~accelerated ~~File~~filer, ~~required~~a tonon-accelerated befiler, ~~submitted~~smaller ~~pursuant~~reporting tocompany, ~~Rule 405~~or ofan ~~Regulation~~emerging ~~S-T~~growth ~~(§232~~company.~~405~~ See ofthe ~~this~~definitions ~~chapter)~~of ~~during~~“large ~~the~~accelerated ~~preceding~~filer,” 12“accelerated ~~months~~filer”, ~~(or~~“smaller ~~for~~reporting ~~such~~company”, and ~~shorter~~“emerging ~~period~~growth ~~that~~company” ~~the~~in ~~registrant~~Rule ~~was required~~12b-2 toof ~~submit~~the ~~such~~Exchange ~~files)~~Act. ~~Yes x No o~~(Check one)

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

~~Large~~If ~~accelerated~~an ~~filer~~emerging ogrowth ~~Accelerated~~company, ~~filer~~indicate oby ~~Non-accelerated~~check mark ~~filer~~if othe ~~Smaller~~registrant ~~reporting~~has ~~company~~elected xnot ~~Emerging~~to ~~growth~~use ~~company~~the oextended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

~~If an~~Indicate ~~emerging growth company, indicate~~ by check mark ifwhether the registrant ~~has elected not to use the extended transition period for complying~~ ~~with~~is ~~any~~a ~~new~~shell orcompany ~~revised~~(as ~~financial~~defined ~~accounting~~in ~~standards~~Rule ~~provided~~12b-2 ~~pursuant to Section 13(a)~~ of the Exchange Act). o Yes ☐ No ☒

~~Indicate by~~There ~~check~~were ~~mark~~45,920,000 ~~whether~~shares of the registrant’s common isstock, a$0.001 ~~shell~~par ~~company~~value ~~(as~~per ~~defined~~share, inoutstanding ~~Rule~~on ~~12b-2~~May of16, ~~the Exchange Act)~~2022. ~~Yes o No x~~

There were 45,920,000 shares of the registrant’s common stock, $0.001 par value per share, outstanding on November 8, 2021.

THE TEARDROPPERS, INC.

TABLE OF CONTENTS

			~~Page~~	Page
Part I – FINANCIAL INFORMATION
	Item 1.	Condensed Unaudited Financial Statements:	3
		Balance Sheets at September 30, 2021 (unaudited) and December 31, 2020	3
		Condensed Balance Sheets at March 31, 2022 (unaudited) and December 31, 2021		3
		Statements of Operations for the three and nine months ended September 30, 2021 and 2020 (unaudited)	4
		Condensed Statements of Operations for the three month periods ended March 31, 2022 and 2021 (unaudited)		4
		Statements of Changes in Stockholders’ Deficit for the three and nine months ended September 30, 2021 and 2020 (unaudited)	5
		Condensed Statements of Changes in Stockholders’ Deficit for the three month periods ending March 31, 2022 and 2021 (unaudited)		5
		Statements of Cash Flows for the nine months ended September 30, 2021 and 2020 (unaudited)	6
		Condensed Statements of Cash Flows for the three month periods ended March 31, 2022 and March 31, 2021 (unaudited)		6
		Condensed Notes to Financial Statements (unaudited)	7	7
	Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	15	14
	Item 3.	Quantitative and Qualitative Disclosures About Market Risk	17	15
	Item 4.	Controls and Procedures	17	15
Part II – OTHER INFORMATION			18
	Item 1.	Legal Proceedings	18	17
	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	18	17
	Item 3.	Defaults Upon Senior ~~Security~~Securities	18	17
	Item 4.	Mine Safety Disclosures	18	17
	Item 5.	Other Information	18	17
	Item 6.	Exhibits	18	17
		Signatures	19	18

PART I – FINANCIAL INFORMATION

ITEM 1. Condensed Unaudited Financial Statements

The Teardroppers, Inc.

CONDENSED BALANCE SHEETS

	September 30,			December 31,
	March 31, 2022			December 31, 2021
	2021			2020
	(unaudited)
ASSETS
Current assets
Cash	$	7334,~~943~~305		$	4929,~~473~~158
Lease Payments Receivable – related parties		1,000			1,000
Lease receivable - related party (current portion)		60,012			54,309
Lease receivable – related party (current portion)		56,883			46,816
Interest receivable		2,258			1,053
Interest receivable - related		3,654			565
Total current assets		96,575			84,520
Prepaid expenses		–			4,072
Other receivables		2,000			–
Total current assets		137,480			101,926
Property and equipment:
Cost		~~159~~129,~~202~~114			~~288~~129,~~089~~114
Less accumulated depreciation		(~~100~~96,~~431~~394	)		(~~185~~90,~~153~~088	)
Property and equipment, net		5832,~~771~~720			~~102~~39,~~936~~026
Lease receivable – related party (net)		129,956			168,957
Lease receivable - related party (net)		101,785			116,178
Total Assets	$	~~326~~231,~~207~~080		$	~~373~~239,~~819~~724
LIABILITIES & STOCKHOLDERS' DEFICIT
Current liabilities
Accounts payable	$	~~357~~377,~~525~~825		$	~~319~~358,~~455~~625
Accounts payable - related parties		~~397~~476,~~728~~170			~~336~~453,~~081~~176
Customer deposits		14,500			14,500
Contract liability – related party		–			11,760
Current portion of notes payable		5,861			5,695
Current portion of notes payable		6,257			4,737
Accrued interest - unrelated parties		1,028			1,051
Current portion of notes payable – related party		–			35,932
Lines of credit from related parties		1,154,060			1,104,060
Current portion of right to use asset lease payable – related party		5,370			3,656
Accrued interest payable-related parties		353,783			326,224
Accrued interest – unrelated parties		2,160			566
Total current liabilities		2,383,227			2,263,331
Line of credit from related party		1,077,578			867,011
Long-term liabilities:
Accrued interest payable-related parties		344,476			272,338
Note payable		56,009			57,516
Total current liabilities		2,205,594			1,866,036
Total Liabilities		2,439,236			2,320,847
Long-term liabilities
Commitments and Contingencies (Note 10)
Note payable		59,121			63,125
Note payable – related party		–			47,747
Right of use asset Lease Payable – related party		16,480			19,386
Total Long-term liabilities		75,601			130,258
Total Liabilities		2,281,195			1,996,294
Commitments and Contingencies
Stockholders' Deficit
Preferred stock, par value $0.001, 20,000,000 shares authorized, 0 shares issued shares and outstanding, respectively		–			–
Preferred stock, par value $0.001, authorized 20,000,000 shares, issued shares 0		–			–
Common stock, par value $0.001, 200,000,000 shares authorized issued 45,920,000 shares issued and outstanding		45,920			45,920
Common stock, par value $0.001, authorized 200,000,000 shares issued 45,920,000		45,920			45,920
Additional paid in capital		828,558			828,558
Accumulated deficit		(23,~~829~~082,~~466~~634	)		(2,~~496~~955,~~953~~601	)
Total Stockholders' Deficit		(12,~~954~~208,~~988~~156	)		(12,~~622~~081,~~475~~123	)
Total Liabilities and Stockholders' Deficit	$	~~326~~231,~~207~~080		$	~~373~~239,~~819~~724

The accompanying condensed notes are an ~~integral~~ integral part of the unaudited financial statements.

The Teardroppers, Inc.

CONDENSED STATEMENTS OF OPERATIONS

(UNAUDITED)

	Three Months Ended						~~Nine Months Ended~~
	September 30,			September 30,			September 30,			September 30,
	March 31,			March 31,
	2021			2020			2021			2020
	2022			2021
Revenues
Lease revenue – unrelated parties	$	1,275		$	1,275		$	3,825		$	3,825
Lease revenue - unrelated parties	$	–		$	1,275
Lease revenue – related parties		–			12,000			12,000			36,000
Lease revenue - related parties		–			12,000
Consulting fees – related party		–			6,000			–			12,000
Total revenues		–			13,275
Total revenue		1,275			19,275			15,825			51,825
Operating expenses:
Operating expenses:
Consulting to related party		43,500			36,000
Consulting from related parties		36,000			44,300			123,000			104,300
Consulting to unrelated party		5,000			22,500
Consulting fees – unrelated parties		10,000			5,000			42,500			35,940
General and administrative		38,606			55,177
General and administrative		31,854			38,464			118,883			158,094
Professional fees		16,193			18,113
Professional fees		5,700			1,700			29,513			51,613
Total operating expenses		103,299			131,790
Total operating expenses		83,554			89,464			313,896			349,947
Operating loss		(103,299	)		(118,515	)
Operating loss		(82,279	)		(70,189	)		(298,071	)		(298,122	)
Other income (expense):
Other income (expense):
Interest income - related parties		5,372			7,023
Interest income – related parties		6,224			6,606			19,879			17,370
Interest expense - unrelated parties		(1,547	)		(1,676)
Gain on sale of asset		–			–			25,595			–
Interest expense - related parties		(27,559	)		(22,582	)
Interest expense - related parties		(25,382	)		(23,188	)		(74,979	)		(64,851	)
Total other income (expense)		(23,734	)		(17,235	)
Interest expense - unrelated parties		(1,616	)		(575	)		(4,937	)		(575	)
Net loss before taxes		(127,033	)		(135,750	)
Total other income (expense)		(20,774	)		(17,157	)		(34,442	)		(48,056	)
Income tax provision		–			–
Net loss before taxes		(103,053	)		(87,346	)		(332,513	)		(346,178	)
Net loss	$	(127,033	)	$	(135,750	)
Income Tax Provision		–			–			–			–
Net loss per share
Net loss	$	(103,053	)	$	(87,346	)	$	(332,513	)	$	(346,178	)
(Basic and fully diluted)	$	(0.00	)	$	(0.00	)
Net loss per share
Weighted average number of common shares outstanding - basic and diluted		45,920,000			45,920,000
(Basic and fully diluted)	$	(0.00	)*	$	(0.00	)*	$	(0.01	)	$	(0.01	)
Weighted average number of common shares outstanding – basic and diluted		45,920,000			45,920,000			45,920,000			45,920,000

*The ~~denotes~~accompanying acondensed ~~loss~~notes ofare ~~less~~an integral ~~than~~part ~~$(.01)~~of ~~per~~the ~~share~~unaudited financial statements.

~~The accompanying condensed notes are an integral part of the unaudited financial statements.~~4

4The Teardroppers, Inc.

~~The~~CONDENSED ~~Teardroppers,~~STATEMENTS CHANGES ~~Inc.~~IN STOCKHOLDERS' DEFICIT

~~STATEMENTS~~FOR OFTHE ~~CHANGES~~THREE INMONTHS ~~STOCKHOLDERS'~~ENDED ~~DEFICIT~~MARCH 31, 2022 AND 2021

~~FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2021 AND 2020~~(UNAUDITED)

(UNAUDITED)


									Additional					Total
	Preferred Stock ($0.001 par)				Common Stock ($0.001 par)				Paid In		Accumulated			Stockholders’
	Shares		Amount		Shares		Amount		Capital		Deficit			Deficit

Balances December 31, 2021		–		–		45,920,000	$	45,920	$	828,558	$	(2,955,601	)	$	(2,081,123	)

Net loss for the period		–		–		–		–		–		(127,033	)		(127,033	)

Balances March 31, 2022		–		–		45,920,000	$	45,920	$	828,558	$	(3,082,634	)	$	(2,208,156	)




Balances December 31, 2020		–		–		45,920,000	$	45,920	$	828,558	$	(2,496,953	)	$	(1,622,475	)

Net loss for the period		–		–		–		–		–		(135,750	)		(135,750	)

Balances March 31, 2021		–		–		45,920,000	$	45,920	$	828,558	$	(2,632,703	)	$	(1,758,225	)

	Common Stock
	Amount		Additional		Accumulated		Shareholders'
	Shares		($.001Par)		Paid in Capital		Deficit			Deficit
Balance December 31, 2019		45,920,000	$	45,920	$	828,558	$	(2,044,055	)	$	(1,169,577	)
Net loss for the period		–		–		–		(170,474	)		(170,474	)
Balances March 31, 2020		45,920,000		45,920		828,558		(2,214,529	)		(1,340,051	)
Net loss for the period		–		–		–		(88,358	)		(88,358	)
Balance June 30, 2020		45,920,000		45,920		828,558		(2,302,887	)		(1,428,409	)
Net loss for the period		–		–		–		(87,346	)		(87,346	)
		–
Balance September 30, 2020		45,920,000	$	45,920	$	828,558	$	(2,390,233	)	$	(1,515,755	)
Balance December 31, 2020		45,920,000	$	45,920	$	828,558	$	(2,496,953	)	$	(1,622,475	)
Net loss for the period		–		–		–		(135,750	)		(135,750	)
Balances March 31, 2021		45,920,000		45,920		828,558		(2,632,703	)		(1,758,225	)
Net loss for the period		–		–		–		(93,710	)		(93,710	)
Balance June 30, 2021		45,920,000		45,920		828,558		(2,726,413	)		(1,851,935	)
Net loss for the period		–		–		–		(103,053	)		(103,053	)
Balance September 30, 2021		45,920,000	$	45,920	$	828,558	$	(2,829,466	)	$	(1,954,988	)

The accompanying condensed notes are an integral part of the unaudited financial statements.

~~The accompanying condensed notes are an integral part of the unaudited financial statements.~~5

5The Teardroppers, Inc.

~~The~~CONDENSED ~~Teardroppers,~~STATEMENTS ~~Inc.~~OF CASH FLOWS

~~STATEMENTS OF CASH FLOWS~~(UNAUDITED)

(UNAUDITED)


	Three Months Ended
	March 31,			March 31,
	2022			2021
Cash Flows From Operating Activities:
Net loss	$	(127,033	)	$	(135,750	)

Adjustments to reconcile net loss to net cash used for operating activities
Depreciation		6,306			15,358

Changes in Operating Assets and Liabilities
(Increase) decrease in interest receivable - related party		(1,205	)		10
Decrease in prepaid expenses		–			413
Decrease in lease receivable - related party		8,690			10,826
Increase in other receivable		–			(2,000	)
Increase in accounts payable - unrelated parties		19,200			25,914
Increase in accounts payable - related parties		22,994			17,510
Increase in accrued interest-related parties		27,559			19,989
Decrease in accrued interest - unrelated parties		(23	)		(11	)

Net cash used for operating activities		(43,512	)		(47,741	)

Cash Flows From Investing Activities:
Purchase of vehicle		–			(36,113	)


Cash Flows From Financing Activities:
Proceeds from line of credit to related parties		75,000			163,500
Repayments on line of credit to related party		(25,000	)		(72,509	)
Repayments on notes payable - unrelated parties		(1,341	)		(1,227	)
Repayments on notes payable - related parties		–			(8,584	)
Repayments on lease payable - related parties		–			(593	)

Net cash provided by financing activities		48,659			80,587

Net Decrease In Cash		5,147			(3,267	)

Cash At The Beginning Of The Period		29,158			49,473

Cash At The End Of The Period		34,305			46,206


SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

Non-cash investing and financing activities:
Assets acquired in exchange for stock	$	–		$	–
Conversion of related party debt to stock	$	–		$	–
Asset transferred for cancellation of shares	$	–		$	–
Asset acquired for debt	$	–		$	–

Cash paid during the period for:
Interest	$	1,569		$	4,280
Franchise and income tax	$	–		$	–

	Nine Months Ended
	September 30,			September 30,
	2021			2020
Cash Flows From Operating Activities:
Net income (loss)	$	(332,513	)	$	(346,178	)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation		30,778			45,630
Gain on sale of asset		(25,595	)		–
Changes in Operating Assets and Liabilities
Increase in lease payments receivable – unrelated party		–			(4,240	)
Increase in interest receivable – related parties		(3,089	)		–
Decrease in prepaid expenses		4,072			3,254
Decrease in lease receivable – related party		28,934			23,654
Increase in other receivable		(2,000	)		–
Increase in accounts payable – unrelated parties		38,070			55,913
Increase in accounts payable – related parties		49,887			(13,000	)
Increase in accrued interest – unrelated parties		1,594			–
Increase in accrued interest - related parties		72,138			54,528
Increase in advance lease payments		–			10,006
Net cash used in operating activities		(137,724	)		(170,433	)
Cash Flows From Investing Activities:
Purchase of vehicle		(36,113	)		(69,000	)
Sale of asset		75,095			–
Net cash provided by (used in) investing activities		38,982			(69,000	)
Cash Flows From Financing Activities:
Principal payments on lease payable – related parties		(1,192	)		(2,545	)
Proceeds from note payable		–			69,000
Principal payments on note payable – unrelated parties		(2,484	)		(337	)
Principal payments on note payable – related parties		(83,679	)		(23,555	)
Proceeds from line of credit to related party		352,744			608,720
Repayments on line of credit to related party		(142,177	)		(397,152	)
Net cash provided by financing activities		123,212			254,131
Net Increase (Decrease) In Cash		24,470			14,698
Cash At The Beginning Of The Period		49,473			50,035
Cash At The End Of The Period	$	73,943		$	64,733
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Non-cash investing and financing activities:
Assets transferred in direct financing lease	$	–		$	249,500
Cash paid during the period for:
Interest	$	6,182		$	10,898
Franchise and income tax	$	–		$	–

The accompanying condensed notes are an integral part of the unaudited financial statements.

~~The accompanying condensed notes are an integral part of the unaudited financial statements.~~6

6TEARDROPPERS, INC.

~~TEARDROPPERS,~~CONDENSED ~~INC.~~NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

~~CONDENSED~~For ~~NOTES~~the TOThree ~~FINANCIAL~~Months ~~STATEMENTS~~Ended ~~(Unaudited)~~March 31, 2022 and 2021

~~For~~NOTE ~~the~~1 ~~Three~~– ~~and~~ORGANIZATION ~~Nine~~AND ~~Months Ended September~~DESCRIPTION ~~30,~~OF ~~2021 and 2020~~BUSINESS

~~NOTE~~On 1June –3, ~~ORGANIZATION~~2013, ~~AND~~Teardroppers, ~~DESCRIPTION~~Inc. (the “Company”), OFwas ~~BUSINESS~~incorporated under the laws of the state of Nevada.

OnWe ~~June~~are 3,in ~~2013,~~the ~~Teardroppers,~~business ~~Inc.~~of ~~(the~~mobile ~~“Company”),~~billboard advertising ~~was~~providing ~~incorporated~~billboard ~~under~~advertising ~~the~~space ~~laws~~on ofcustom ~~the~~designed ~~state~~"Teardrop Trailers" and various sizes of ~~Nevada~~cargo type trailers. Teardrop Trailers, are usually designed for short-period accommodations for vacationers and travelers. Teardrop Trailers are designed to be towed behind new and vintage vehicles and pickup trucks.

WeIn ~~are~~addition, inwe ~~the~~own ~~business~~cargo oftrailers ~~mobile~~with ~~billboard~~flat ~~advertising,~~non ~~providing~~rivet ~~billboard~~panel ~~advertising~~siding ~~space~~that oncan ~~custom~~be ~~designed~~used ~~"Teardrop~~for ~~Trailers"~~hauling and ~~various~~transportation. ~~sizes~~These oftrailers ~~cargo~~range ~~type~~in ~~trailers.~~size ~~Teardrop Trailers,~~from ~~are~~15 ~~usually~~feet ~~designed~~to ~~for~~53 ~~short-period~~feet. ~~accommodations~~We ~~for~~lease ~~vacationers~~these trailers ~~and~~for ~~travelers.~~transportation ~~Teardrop~~of ~~Trailers~~goods ~~are~~and ~~designed~~for toadvertising beof ~~towed behind~~their ~~new~~respective ~~and~~business ~~vintage~~or ~~vehicles~~the ~~and~~businesses ~~pickup~~of ~~trucks~~lessee clients.

InNOTE ~~addition,~~2 we– ~~own~~SUMMARY ~~cargo~~OF ~~trailers~~SIGNIFICANT ~~with flat non~~ACCOUNTING rivet panel siding that can be used for hauling and transportation. These trailers range in size from 15 feet to 53 feet. We lease these trailers for transportation of goods and for advertising of their respective business or the businesses of lessee clients.POLICIES

~~NOTE~~Basis 2of ~~– SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES~~presentation

~~Basis~~The accompanying financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 8 of ~~presentation~~Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In our opinion the financial statements include all adjustments (consisting of normal recurring accruals) necessary in order to make the financial statements not misleading. Operating results for the three months ended March 31, 2022 is not necessarily indicative of the final results that may be expected for the year ended December 31, 2022. For more complete financial information, these unaudited financial statements should be read in conjunction with the audited financial statements for the year ended December 31, 2021 filed with the SEC on April 15, 2022.

~~The~~Use ~~Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States~~ of ~~America (“U.S. GAAP”).~~estimates

The ~~accompanying~~preparation of financial statements ~~have been prepared~~ in ~~accordance~~ conformity with ~~generally~~U.S. ~~accepted~~GAAP ~~accounting~~requires ~~principles~~management ~~for~~to ~~interim~~make ~~financial~~estimates ~~information~~ and ~~with~~assumptions ~~the~~that ~~instructions~~affect tothe ~~Form 10-Q~~reported ~~and~~amounts ~~Article 8~~ of ~~Regulation~~assets ~~S-X.~~and ~~Accordingly,~~liabilities ~~they~~and ~~do not include all~~ disclosure of ~~the~~contingent ~~information~~assets and ~~footnotes~~liabilities ~~required~~at bythe ~~generally~~date ~~accepted accounting~~of ~~principles~~the ~~for complete~~ financial statements. Inand ~~our opinion~~ the ~~financial~~reported ~~statements~~amounts ~~include all adjustments (consisting~~ of ~~normal~~ ~~recurring~~revenues ~~accruals)~~and ~~necessary~~expenses ~~in order to make~~ during the ~~financial~~reporting ~~statements not misleading~~period. ~~Operating~~Accordingly, actual results ~~for~~could ~~the~~differ ~~nine~~from ~~months~~those ~~ended September~~estimates. ~~30,~~Such ~~2021~~estimates ~~are~~include ~~not~~management’s ~~necessarily indicative~~ assessments of the ~~final~~carrying ~~results~~value ~~that~~of ~~may~~certain ~~be expected for the year ended December 31~~assets, ~~2021.~~lease ~~For more complete financial information~~liabilities, ~~these~~useful ~~unaudited~~lives ~~financial~~of ~~statements~~assets ~~should~~and berelated ~~read~~depreciation, inand ~~conjunction~~valuation ~~with~~of ~~the audited financial statements~~deferred ~~for~~tax ~~the year ended December 31, 2020 filed with the SEC~~assets.

~~Use~~Cash ~~of estimates~~equivalents

The ~~preparation~~Company ofconsiders ~~financial~~all ~~statements~~highly inliquid ~~conformity~~investments with ~~U.S.~~an ~~GAAP~~original ~~requires~~maturity ~~management to make estimates and assumptions that affect the reported amounts~~ of ~~assets~~three ~~and~~months ~~liabilities~~or ~~and~~less ~~disclosure of~~when ~~contingent~~purchased ~~assets~~to ~~and~~be ~~liabilities~~cash atequivalents. ~~the~~At ~~date~~March of31, ~~the~~2022 ~~financial statements~~ and ~~the~~December ~~reported~~31, ~~amounts of revenues and expenses during the reporting period. Accordingly~~2021, ~~actual results could differ from those estimates. Such estimates include management’s assessments~~the ofCompany ~~the~~had ~~carrying~~no ~~value~~cash ~~of certain assets, useful lives of assets, and related depreciation and amortization methods applied~~equivalents.

~~Cash~~Fair ~~equivalents~~value of financial instruments

The Company ~~considers~~adopted ~~all~~the ~~highly~~provisions ~~liquid~~of ~~investments~~FASB Accounting ~~with~~Standards anCodification ~~original~~(“ASC”) ~~maturity~~820 of(the ~~three~~“Fair ~~months~~Value orTopic”) ~~less~~which ~~when~~defines ~~purchased~~fair tovalue, beestablishes ~~cash~~a ~~equivalents.~~framework for Atmeasuring ~~September~~fair ~~30,~~value ~~2021~~under ~~and~~U.S. ~~December 31~~GAAP, ~~2020, the~~and ~~Company~~expands ~~had~~disclosures noabout ~~cash~~fair ~~equivalents~~value measurements.

The Fair Value Topic defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. It requires that valuation techniques maximize the use of ~~financial~~observable ~~instruments~~inputs and minimize the use of unobservable inputs. It also establishes a fair value hierarchy, which prioritizes the valuation inputs into three broad levels.

The Company adopted the provisions of FASB Accounting Standards Codification (“ASC”) 820 (the “Fair Value Topic”) which defines fair value, establishes a framework for measuring fair value under U.S. GAAP, and expands disclosures about fair value measurements.7

7TEARDROPPERS, INC.

~~TEARDROPPERS,~~CONDENSED ~~INC.~~NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

~~CONDENSED~~For ~~NOTES TO~~the ~~FINANCIAL~~Three ~~STATEMENTS~~Months ~~(Unaudited)~~Ended March 31, 2022 and 2021

~~For~~The carrying amount of the ~~Three~~Company’s financial assets and ~~Nine~~liabilities, ~~Months~~such ~~Ended~~as ~~September~~cash, accounts payable, and accrued expenses, approximate their fair 30value because of the short maturity of those instruments. The Company’s loans payable approximates, ~~2021~~the fair value of such instruments based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangements at March 31, 2022 and ~~2020~~December 31, 2021.

The ~~Fair~~Company ~~Value~~had ~~Topic~~no ~~defines~~assets ~~fair value as the exchange price that would be received for an asset~~ and/or ~~paid~~liabilities ~~to transfer a liability (an exit price) in the principal or most advantageous~~measured ~~market~~at ~~for~~fair ~~the~~value ~~asset or liability in an orderly transaction between market participants~~ on ~~the~~a ~~measurement~~recurring ~~date.~~basis Itas ~~requires that valuation techniques maximize the use~~ of ~~observable~~March ~~inputs~~31, 2022 and ~~minimize~~December ~~the~~31, ~~use~~2021, ~~of unobservable inputs. It also establishes a fair value hierarchy~~respectively, ~~which~~ ~~prioritizes~~using the ~~valuation~~market ~~inputs~~and ~~into~~income ~~three broad levels~~approaches.

~~The~~Property ~~carrying amount of the Company’s financial assets~~ and liabilities, such as cash, accounts payable, accrued expenses, and contract liability approximate their fair value because of the short-term maturity of those instruments. The Company’s note payable approximates the fair value of such instruments based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangements at September 30, 2021 and December 31, 2020.equipment

~~The~~Property ~~Company~~and ~~had~~equipment noare ~~assets~~recorded orat ~~liabilities~~cost. ~~measured~~Expenditures atfor ~~fair~~major ~~value~~additions onand abetterments ~~recurring~~are ~~basis~~capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation is computed by the straight-line method over the assets estimated useful life of ~~September~~three 30(3) years for equipment, ~~2021~~five ~~and~~(5) ~~December~~years ~~31,~~for ~~2020~~automobile, ~~respectively~~and seven (7) years for furniture and fixtures. Upon sale or retirement of property and equipment, ~~using~~the related cost and accumulated depreciation are removed from the ~~market~~accounts and ~~income~~any ~~approaches~~gain or loss is reflected in statements of operations.

~~Property~~Revenue ~~and equipment~~recognition

~~Property~~On ~~and~~January ~~equipment~~1, ~~are~~2018, ~~recorded~~the atCompany ~~cost.~~adopted ~~Expenditures~~the provisions ~~for~~of ~~major~~ASC ~~additions~~606 ~~and~~Revenue ~~betterments~~from ~~are~~Contracts ~~capitalized.~~with ~~Maintenance~~Customers, and ~~repairs~~related ~~are~~Accounting ~~charged~~Standards ~~to operations as incurred~~Updates. This ~~Depreciation~~new isrevenue ~~computed~~recognition standard byhas ~~the~~a ~~straight-line~~five ~~method~~step ~~over~~process: ~~the~~a) ~~assets~~Determine ~~estimated~~whether ~~useful~~a ~~life~~contract ofexists; ~~three (3~~b) ~~years~~Identify ~~for~~the ~~equipment,~~performance ~~five~~obligations; (5c) ~~years~~Determine ~~for~~the ~~automobile, and~~transaction ~~seven~~price; (7d) ~~years~~Allocate ~~for~~the ~~furniture~~transaction price; and ~~fixtures.~~e) ~~Upon~~Recognize ~~sale~~revenue when (or ~~retirement~~as) ofperformance ~~property~~obligations ~~and~~are ~~equipment,~~satisfied. ~~the~~The ~~related~~impact of ~~cost~~the ~~and~~Company’s ~~accumulated~~initial ~~depreciation are~~application ~~removed~~of ~~from~~ASC ~~the~~606 ~~accounts~~did ~~and~~not ~~any~~have ~~gain~~a ormaterial ~~loss~~impact ison ~~reflected~~its infinancial statements ofand ~~operations~~disclosures.

~~Revenue~~The ~~recognition~~primary source of revenue and performance obligation is from the rental of advertising space on custom designed Teardrop Trailers. The length of the rental agreements varies from one to thirty days. Customers pay in advance and revenue is recognized based on the number of days of each contract that have expired. For the three months ended March 31, 2022 and 2021, the Company recognized no income from the rental of the trailers.

OnIn ~~January~~March 1, 2018, the Company ~~adopted~~entered ~~the~~into ~~provisions~~a four-year ofagreement ~~ASC~~to ~~606~~lease ~~Revenue~~equipment ~~from~~to ~~Contracts~~an ~~with~~unrelated ~~Customers, and related Accounting Standards Updates~~shareholder. ~~This~~In ~~new~~September ~~revenue~~2018, ~~recognition~~the ~~standard~~son ~~has a~~of ~~five~~the ~~step~~shareholder ~~process:~~became ~~a) Determine whether a contract exists; b) Identify~~ the ~~performance~~Chief ~~obligations;~~Financial ~~c) Determine the transaction~~Officer. ~~price;~~At d)that ~~Allocate~~point the ~~transaction~~shareholder ~~price;~~is ~~and~~considered e)a ~~Recognize~~related ~~revenue when (or as) performance obligations are satisfied~~party. ~~The~~For ~~impact of~~ the ~~Company’s~~three ~~initial~~months ~~application~~ended ofMarch ~~ASC~~31, ~~606~~2022 ~~did~~and ~~not~~2021, ~~have~~related aparty ~~material~~lease ~~impact~~income was on$0 ~~its financial statements~~ and ~~disclosures~~$12,000 respectively.

~~One~~In ofJanuary 2019, the ~~primary~~Company ~~sources~~entered ofinto ~~revenues are from~~a ~~the~~two-year ~~rental~~agreement ofto ~~advertising space on custom designed Teardrop Trailers, Various types and sizes of cargo trailers,~~ lease ~~revenue and consulting fees. Revenue from advertising space and leases is recognized over time as the performance obligations are met and consulting fees is recognized at~~ a ~~point~~vehicle into ~~time~~an ~~when~~unrelated ~~the~~third ~~performance obligation is met~~party. For the three ~~and nine~~ months ended ~~September~~March 3031, ~~2021~~2022 and ~~2020~~2021, ~~the~~ ~~Company~~ recognized operating nolease income ~~from the rental~~ of ~~the~~$0 and ~~trailers~~$1,275, respectively.

InOn ~~March~~February ~~2018~~1, 2020, the Company ~~entered~~leased ~~into~~ a ~~four-year~~truck ~~agreement~~and totrailer ~~lease~~purchased ~~equipment~~November 2019 for $190,000 to ana ~~unrelated~~related ~~shareholder~~party. InThe ~~September~~lease ~~2018,~~is ~~the~~classified ~~son~~as ofa ~~the~~direct ~~shareholder~~financing ~~became~~lease. ~~the~~The ~~Chief~~cost ~~Financial Officer.~~of Atthe ~~that~~vehicle ~~point~~and ~~the~~related ~~shareholder~~accumulated ~~will~~depreciation behas ~~considered~~been reclassified to a ~~related~~lease ~~party.~~receivable ~~For~~and ~~the~~is ~~three~~reflected ~~months~~on ~~ended~~the ~~September~~condensed ~~30,~~balance sheet ~~2021~~as ~~and~~lease ~~2020,~~receivable – related party ~~lease~~. Interest income ~~was~~is $0reflected ~~and~~on ~~$12,000,~~the ~~respectively~~condensed statement of operations. For the ~~nine~~ three months ended ~~September~~March 3031, ~~2021~~2022 and ~~2020~~2021, ~~related~~the ~~party~~Company ~~lease~~recognized interest income ~~was~~of $123,~~000~~ 819 and $365,~~000~~347, respectively. ~~On April 2, 2021, the equipment was sold to the lessee and the lease terminated.~~ See Note 94 for details.

TEARDROPPERS, INC.

CONDENSED NOTES TO FINANCIAL STATEMENTS (~~Unaudited~~UNAUDITED)

For the Three ~~and Nine~~ Months Ended ~~September 30~~March 31, ~~2021~~2022 and ~~2020~~ 2021

InOn ~~January~~September ~~2019~~1, 2020, the Company ~~entered~~leased ~~into~~ a ~~two-year~~vehicle ~~agreement~~for $69,000 to a related party. The lease is classified as a ~~vehicle~~direct tofinancing anlease. ~~unrelated~~The ~~third~~lease is reflected on the condensed balance sheet as lease receivable – related party. ~~For~~Interest income is reflected on the ~~three~~condensed ~~and~~statement ~~nine~~of operations. For the three months ended ~~September~~March 3031, ~~2021~~2022 and ~~2020~~2021, the Company recognized ~~lease~~interest income of $1,~~275~~553 and $31,~~825~~676, respectively. AsSee ofNote ~~September~~4 ~~30,~~for ~~2021 and December 31, 2020, the lease receivable was $1,000~~details.

OnIn ~~February~~January 12015, ~~2020,~~ the Company ~~leased~~received ~~a truck and trailer purchased November 2019 for~~ $~~190~~14,~~000~~500 toas a ~~related~~deposit ~~party.~~for ~~The~~advertising ~~lease~~space isto ~~classified~~be asprovided ain ~~direct~~the ~~financing lease~~future. ~~The~~As ~~cost~~ of ~~the~~March ~~vehicle~~31, 2022 and ~~related~~December ~~accumulated~~31, ~~depreciation has~~2021, ~~been~~the ~~reclassified~~customer tohas anot ~~lease~~utilized the ~~receivable~~space and isno ~~reflected~~revenue onhas ~~the~~been ~~condensed~~recognized ~~balance~~as ~~sheet~~the asperformance ~~lease~~obligations ~~receivable~~have –not ~~related~~been ~~party~~satisfied. ~~Interest~~ ~~revenue~~At ~~is reflected on~~ the ~~condensed~~time ~~statement of operations. For~~ the ~~three~~service ~~months~~is ~~ended September ended September~~provided ~~30,~~under ~~2021 and 2020,~~ the ~~Company~~terms ~~recognized interest revenue~~ of ~~$4,610 and $6,031, respectively. For~~ the ~~nine months ended September 30~~agreement, ~~2021 and 2020,~~ the Company ~~recognized~~will ~~interest~~recognize ~~revenue~~the ~~of $14,943 and $16,795, respectively~~revenue. ~~See Note 5 for details.~~

OnNet ~~September~~income 1,(loss) ~~2020,~~per the Company leased a vehicle for $69,000 to a related party. The lease is classified as a direct financing lease. The lease is reflected on the condensed balance sheet as lease receivable – related party. Interest revenue is reflected on the condensed statement of operations. For the three months ended September 30, 2021 and 2020, the Company recognized interest revenue of $1,614 and $575, respectively. For the nine months ended September 30, 2021 and 2020, the Company recognized interest revenue of $4,936 and $575, respectively. See Note 5 for detailsshare

InThe ~~January~~Company ~~2015,~~computes ~~the~~basic ~~Company~~and ~~received~~diluted ~~$14,500~~earnings per asshare aamounts ~~deposit~~pursuant ~~for advertising~~to ~~space~~ASC to260-10-45. beBasic ~~provided~~earnings inper ~~the~~share ~~future.~~is Ascomputed ofby ~~September~~dividing ~~30,~~net ~~2021~~income ~~and~~(loss) ~~December~~available ~~31,~~to ~~2020~~common shareholders, by the ~~customer~~weighted ~~has~~average ~~not~~number ~~utilized~~of ~~the~~shares ~~space and~~of nocommon ~~revenue~~stock ~~has~~outstanding ~~been~~during ~~recognized~~the asperiod, excluding the ~~performance~~effects ~~obligations~~of ~~have~~any ~~not~~potentially ~~been satisfied~~dilutive securities. AtDiluted ~~the~~earnings ~~time~~per ~~the~~share ~~service~~ is ~~provided~~computed ~~under~~by dividing net income (loss) available to common shareholders by the diluted weighted ~~terms~~average number of ~~the~~shares ~~agreement,~~of ~~the~~common ~~Company~~stock ~~will~~during ~~recognize~~ the ~~revenue.~~period

~~Net~~The ~~income~~diluted ~~(loss)~~weighted ~~per~~average ~~share~~number of common shares outstanding is the basic weighted number of shares adjusted as of the first day of the year for any potentially diluted debt or equity.

~~The~~There ~~Company~~were ~~computes~~no ~~basic~~potentially ~~and~~dilutive ~~diluted~~shares ~~earnings~~outstanding ~~per~~as ~~share~~of ~~amounts~~March ~~pursuant~~31, to2022 ~~ASC~~and ~~260-10-45.~~December ~~Basic earnings per share is computed by dividing net income (loss) available to common shareholders~~31, by ~~the weighted average number of shares of common stock outstanding during the period~~2021, ~~excluding the effects of any potentially dilutive securities~~respectively. ~~Diluted earnings per share is computed by dividing net income (loss) available to common shareholders by the diluted weighted average number of shares of common stock during the period.~~

~~The~~Recently ~~diluted~~Issued ~~weighted~~Accounting average number of common shares outstanding is the basic weighted number of shares adjusted as of the first day of the year for any potentially diluted debt or equity. Potentially dilutive securities are excluded from the computation if their effect is in anti-dilutive.Pronouncements

~~There~~The ~~were~~Company nohas ~~potentially~~implemented ~~dilutive~~all ~~shares~~new ~~outstanding~~accounting ~~for~~pronouncements ~~the~~that ~~three~~are in effect and ~~nine-month~~that ~~periods~~may ~~ended~~impact ~~September~~its ~~30,~~financial ~~2021~~statements and ~~2020,~~does ~~respectively~~not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

~~Recently~~NOTE ~~issued~~3 ~~accounting~~– ~~pronouncements~~GOING CONCERN

The Company's ~~has~~financial ~~implemented~~statements ~~all~~have ~~new~~been ~~accounting~~prepared ~~pronouncements~~on ~~that~~a ~~are~~going inconcern ~~effect~~basis, ~~and~~which ~~applicable~~contemplates to the ~~Company.~~realization ~~These~~of ~~pronouncements~~assets ~~did~~and ~~not~~satisfaction ~~have~~of ~~any~~liabilities ~~material~~in ~~impact on~~ the ~~financial statements~~normal ~~unless~~course ~~otherwise~~of ~~disclosed,~~business. The ~~and~~financial ~~the~~statements ~~Company~~do ~~does~~ not ~~believe~~include ~~that~~any ~~there~~adjustment ~~are~~relating ~~any~~to ~~other~~recoverability ~~new~~and ~~accounting~~classification ~~pronouncements~~of ~~that~~recorded ~~have been~~amounts ~~issued~~of assets and liabilities ~~not implemented~~ that might ~~have~~be anecessary ~~material~~should ~~impact~~the onCompany ~~its~~be ~~financial~~unable ~~position~~to orcontinue ~~results~~as ofa ~~operations~~going concern.

9The Company has a minimum cash balance available for payment of ongoing operating expenses. As of March 31, 2022, the Company has an accumulated deficit of $3,082,634, net cash outflow from operating activities of $43,512 and a net loss for the current period of $127,033. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the issuance date of this report. Its continued existence is dependent upon its ability to continue to execute its operating plan and to obtain additional debt or equity financing. There can be no assurance the necessary debt or equity financing will be available or will be available on terms acceptable to the Company.

~~TEARDROPPERS,~~NOTE ~~INC~~4. LEASE RECEIVABLE – RELATED PARTY

~~CONDENSED~~On ~~NOTES~~November TO12, ~~FINANCIAL~~2019, ~~STATEMENTS~~the ~~(Unaudited)~~company purchased a truck and trailer from a related party for $190,000. On February 1, 2020, the Company leased the asset back to the same related party. The term of the lease is for 48 months with payments of $5,003 per month. At the end of the lease, the related party has the right to purchase the asset for $22,800. The lease is classified as a financing lease under ASC 842. The present value of the lease payments, excluding the end of lease provisions, discounted at an interest rate of 10%, is $197,442. The Company is using the net book value of $180,500 of the asset as the initial value of the lease in accordance with ASC 842-30-55-17A.

~~For the Three and Nine Months Ended September 30, 2021 and 2020~~9

~~NOTE~~TEARDROPPERS, ~~3 – GOING CONCERN~~INC.

~~The~~CONDENSED ~~Company's~~NOTES ~~financial~~TO ~~statements~~FINANCIAL ~~have~~STATEMENTS been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustment relating to recoverability and classification of recorded amounts of assets and liabilities that might be necessary should the Company be unable to continue as a going concern.(UNAUDITED)

The Company has a minimum cash balance available for payment of ongoing operating expenses. As of September 30, 2021, the Company has an accumulated deficit of $2,829,466 and negative working capital of $2,068,114. For the ~~nine~~Three ~~months~~Months ~~ended~~Ended ~~September~~March 3031, ~~2021,~~2022 ~~the Company had a net loss of $332,513.~~ and ~~a net cash outflow~~ from operating activities of $137,724. These matters raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the issue date of this report. Its continued existence is dependent upon its ability to continue to execute its operating plan and to obtain additional debt or equity financing. There can be no assurance the necessary debt or equity financing will be available or will be available on terms acceptable to the Company.2021

~~NOTE~~The 4undiscounted –cash ~~PROPERTY~~flow ~~AND~~principal ~~EQUIPMENT~~payments for the remaining term of the lease will be as follows:

~~Property and equipment consists~~ Schedule of ~~the~~lease ~~following at~~receivable ~~September 30, 2021 and December 31, 2020:~~ payments

Property and equipment
2022 (remainder of year)	$	45,027
	September 30, 2021			December 31, 2020
2023		60,036
Property and equipment, purchased	$	129,113		$	258,000
2024		5,003
Property and equipment, right of use lease		30,089			30,089
Total		110,066
Total property and equipment		159,202			288,089
Less deferred interest		(10,394	)
Less: accumulated depreciation		(100,431	)		(185,153	)
Less current portion		(52,881	)
Property and equipment, net	$	58,771		$	102,936
Long-term lease receivable	$	46,791

~~Depreciation~~On ~~expense~~August ~~for~~1, 2020, the ~~three~~company ~~and~~purchased ~~nine~~a vehicle ~~months~~for ~~ended~~$69,000 ~~September~~from ~~30,~~a ~~2021~~related party and ~~2020~~leased ~~was~~it to the same related party. The term of the lease is for 60 months with payments of $71,~~710~~000 per ~~and~~month. At the end of the lease, the related party has the right to purchase the vehicle for $1437,~~155~~000. ~~and~~The lease is classified as a financing lease under ASC 842. The present value of the lease payments, excluding the end of lease provisions, discounted at an interest rate of 10%, is $3047,~~778~~065. ~~and~~The Company is using the net book value of $4569,~~630~~000 ~~respectively~~of the asset as the initial value of the lease in accordance with ASC 842-30-55-17A.

OnThe ~~February~~undiscounted 1,cash ~~2020,~~flow ~~the~~principal ~~Company leased a truck~~payments ~~and trailer purchased November 2019~~ for ~~$190,000~~the toremaining aterm ~~related party. The lease is classified as a financing lease. The cost~~ of the ~~vehicle and related accumulated depreciation has been reclassified to a~~ lease ~~receivable~~will ~~and~~be ~~is reflected on the balance sheet~~ as ~~lease receivable. – related party. See Note 5 for details.~~follows:

~~On April 2, 2021 the Company sold a NASCAR hauler~~Schedule toof alease ~~related~~receivable ~~party at a gain of $25,595.~~payments

NOTE 5 – LEASE RECEIVABLE – RELATED PARTY

2022 (remainder of year)	$	11,000
2023		12,000
2024		12,000
2025		8,000
Purchase option		37,000
Total		80,000
Less deferred interest		(17,876	)
Less current portion		(7,130	)
Long-term lease receivable	$	54,994

OnIncome ~~November 12, 2019, the company purchased a truck and trailer~~ from aboth ~~related~~leases ~~party~~is ~~for~~reflected ~~$190,000.~~on ~~On February 1, 2020,~~ the ~~Company leased the asset back to the same related party.~~ ~~The~~statement ~~term~~ of ~~the~~operations ~~lease~~as isinterest ~~for~~income 48– ~~months with payments of $5,003 per month. At the end of the lease, the~~ related ~~party has the right to purchase the asset for $22,800~~parties. ~~The~~For ~~lease is classified as a financing lease under ASC 842. The present value of~~ the ~~lease~~three ~~payments,~~months ~~excluding the~~ended ~~end~~March ~~of lease provisions~~31, ~~discounted~~2022 atand an2021 interest income ~~rate~~ of ~~10%, is~~ $~~197~~5,~~442.~~372 ~~The Company is using the net book value of~~ and $~~180~~7,~~500 of~~023, ~~the~~respectively ~~asset~~was ~~as the initial value of the lease in accordance with ASC 842-30-55-17A~~reported.

10NOTE 5 – PROPERTY & EQUIPMENT

~~TEARDROPPERS~~Property and equipment consists of the following at March 31, ~~INC~~2022 and December 31, 2021.

CONDENSED NOTES TO FINANCIAL STATEMENTS (Unaudited)

Schedule of property and equipment
	March 31, 2022			December 31, 2021
Property and equipment, purchased	$	129,114		$	129,114
Less: accumulated depreciation		(96,394	)		(90,088	)
Property and equipment, net	$	32,720		$	39,026

~~For~~Depreciation ~~the~~expense ~~Three~~for ~~and~~the ~~Nine~~three ~~Months~~months ~~Ended September~~ended 30March 31, 2022 and 2021 was $6,306 and ~~2020~~$15,358 respectively.

~~The undiscounted cash flow principal payments for the remaining term of the lease will be as follows:~~ 10

schedule of future minimum lease receivable
2021 (remainder of year)	$	20,012
2022		60,036
2023		60,036
2024		5,003
Total		145,087
Less deferred interest		(23,705	)
Less current portion		(49,138	)
Long-term lease receivable	$	72,244

TEARDROPPERS, INC.

~~Income~~CONDENSED ~~from~~NOTES ~~the~~TO ~~lease~~FINANCIAL isSTATEMENTS reflected on the statement of operations as interest income – related parties. For the three and nine months ended September 30, 2021 and 2020, interest income reported on the statements of operations was $4,610 and $6,031 and $14,943 and $17,370, respectively.(UNAUDITED)

OnFor ~~August 1, 2020,~~ the ~~Company~~Three ~~purchased~~Months aEnded ~~vehicle for~~March ~~$69~~31,~~000~~ ~~from~~2022 ~~a related party~~ and ~~leased it to the same related party. The term of the lease is for 60 months with payments of $1,000~~ per month. At the end of the lease, the related party has the right to purchase the vehicle for $37,000. The lease is classified as a financing lease under ASC 842. The present value of the lease payments, excluding the end of lease provisions, discounted at an interest rate of 10%, is $47,065. The Company is using the net book value of $69,000 of the asset as the initial value of the lease in accordance with ASC 842-30-55-17A.2021

~~The~~NOTE ~~undiscounted~~6 ~~cash~~– ~~flow~~LINE ~~principal~~OF ~~payments for~~CREDIT ~~the~~FROM ~~remaining term of the lease will be as follows:~~ RELATED PARTY

Schedule of future minimum lease receivable
2021 (remainder of year)	$	7,000
2022		12,000
2023		12,000
2024		12,000
2025		8,000
Purchase option		37,000
Total		88,000
Less deferred interest		(22,543	)
Less current portion		(7,745	)
Long-term lease receivable	$	57,712

On February 25, 2014, the Company entered into a line of credit with DEVCAP Partners, LLC, a California limited liability company (“DEVCAP”), for an amount up to $450,000 with an extended maturity date of December 31, 2023, bearing interest of 10% per annum. Effective July 1, 2019, the loan was assumed by FinTekk AP, LLC, a California limited liability company (“Fintekk”). The terms of the line of credit are unchanged. Both DEVCAP and FinTekk are solely owned by the majority shareholder of the Company and are related parties. As of March 31, 2022 and December 31, 2021, the balance of the line of credit was $202,129 and $227,129, respectively. The Company recorded accrued interest of $11,750 and $6,307 on the line of credit at March 31, 2022 and December 31, 2021, respectively.

~~Income~~On ~~from~~August ~~the~~13, ~~lease~~2015, isthe ~~reflected~~Company onentered ~~the~~into ~~statement~~a line of ~~operations~~credit aswith General Pacific Partners, LLC, a California limited liability company, for an amount up to $450,000. The line of credit is a demand loan bearing interest ~~income~~of –10% ~~related~~per ~~parties~~annum. ~~For~~General Pacific Partners, LLC is a related party to the ~~three~~Company ~~and~~as ~~nine~~it ~~months~~is ~~ended~~owned ~~September~~by a 30majority shareholder of the Company. On July 5, ~~2021~~2017, ~~and~~the ~~2020~~balance of $25,000 ~~interest~~was ~~income~~converted into 500,000 shares of stock valued at $.05 ~~was~~per ~~reported~~share. onThe balance of the ~~statements~~line of ~~operations~~credit ofwas $10 as of March 31,~~614~~ 2022 and ~~$575~~December ~~and~~31, 2021. The Company owes accrued interest of $4,~~936~~732 as of March 31, 2022 and ~~$575~~December 31, 2021, respectively.

11During 2014, the Company entered into a line of credit agreement with Gemini Southern, LLC, a related party. The line of credit is a demand loan with a maximum of $950,000 bearing interest at 10%, maturing December 2023. As of March 31, 2022 and December 31, 2021, the balance due on the line was $951,931 and $876,931, respectively. The Company recorded accrued interest of $191,669 and $169,553 as of March 31, 2022 and December 31, 2021, respectively.

~~TEARDROPPERS,~~NOTE ~~INC.~~7 – LONG-TERM LIABILITIES

~~CONDENSED~~On ~~NOTES~~August TO1, ~~FINANCIAL~~2020, ~~STATEMENTS~~the ~~(Unaudited)~~Company borrowed $69,000 from an unrelated party to purchase a 2020 Porsche Maran that was subsequently leased to a related party. See Note 4 for details of the lease agreement. The term of the loan is 60 months with payments of $912 per month with interest at 10%. A final payment of $41,722 is due in August 2025. The loan is secured by the vehicle.

~~For~~Principal ~~the~~payments ~~Three~~for ~~and~~the ~~Nine~~next ~~Months~~five ~~Ended~~years ~~September~~will ~~30,~~be ~~2021~~as ~~and 2020~~follows:

NOTE 6 – LOAN PAYABLE – RELATED PARTY

2022 (remainder of year)	$	4,545
2023		5,458
2024		6,029
2025		45,838
Total		61,870
Less current portion		(5,861	)
Long-term liability	$	56,009

~~During~~NOTE ~~2014,~~8 ~~the~~– ~~Company~~OTHER ~~entered~~RELATED ~~into~~PARTY ~~a loan~~TRANSACTIONS agreement with Gemini Southern, LLC whereby the monies paid to the Company by Gemini Southern, LLC pursuant to the consulting agreement dated September 20, 2013. The balance will be paid back with interest commencing on January 1, 2015 at a rate of 10% per annum with a maturity date of December 12, 2018. On April 1, 2018, the balance of the debt, $525,000, was converted into 4,375,000 of common stock. The Company recorded accrued interest on this loan of $145,632 as of September 30, 2021 and ~~December~~RELATED ~~31,~~PARTIES ~~2020,~~ACCOUNTS respectively. The accrued interest was not part of the conversion agreement and continues to be reflected as a liability. Effective April 1, 2018, the line of credit is considered related party debt. See Note 7 for details of the transactions.PAYABLE

~~NOTE~~Note 7payable – ~~LINE~~Gemini OFSouthern, ~~CREDIT FROM RELATED PARTY~~LLC

OnDuring ~~February 25,~~ 2014, the Company entered into a ~~line~~loan agreement ~~of credit~~ with ~~DEVCAP~~Gemini ~~Partners~~Southern, LLC, apursuant ~~California~~to ~~limited~~which ~~liability~~monies ~~company~~were ~~(“DEVCAP”),~~to ~~for~~be anpaid ~~amount~~to upthe toCompany ~~$450~~by Gemini Southern,~~000 with~~ aLLC, ~~maturity~~pursuant ~~date~~to the ofConsulting ~~December~~Agreement ~~31,~~dated ~~2023~~September 20, ~~bearing~~2013. ~~interest~~The ofbalance ~~10%~~was ~~per~~to ~~annum.~~be ~~Effective~~paid ~~July~~with interest commencing January 1, ~~2019,~~2015 ~~the~~at ~~loan~~a ~~was~~rate ~~assumed~~of 10% byper ~~FinTekk AP~~annum, ~~LLC,~~with a ~~California~~maturity ~~limited~~date ~~liability~~of ~~company~~December ~~(“Fintekk”)~~12, 2018. ~~The~~On ~~terms~~April of1, 2018, the ~~line~~balance of ~~credit~~the ~~are~~debt, ~~unchanged.~~$525,000, ~~Both~~was ~~DEVCAP~~converted ~~and~~into ~~FinTekk~~4,375,000 ~~are~~shares ~~solely~~of ~~owned~~common bystock ~~the majority shareholder~~ of the Company, ~~and~~valued ~~are~~at ~~related parties~~$0.12 Asper ofshare. ~~September~~The ~~30,~~Company ~~2021,~~recorded ~~and~~accrued ~~December~~interest ~~31, 2020,~~on ~~the~~this ~~balance~~loan of ~~the~~$145,632 as ~~line~~ of ~~credit~~March ~~was $320~~31,~~629~~ 2022 and ~~$226~~December 31,~~385~~ 2021, respectively. The ~~Company recorded~~ accrued interest ofwas ~~$44,078~~not ~~and $27,374~~part onof the ~~line~~conversion ofagreement ~~credit~~and continues atto ~~September~~be ~~30,~~reflected ~~2021~~as ~~and~~a ~~December 31, 2020, respectively~~liability.

OnLine ~~August 13, 2015, the Company entered into a line~~ of credit ~~with~~from ~~General~~related Pacific Partners, LLC, a California, limited liability company, for an amount up to $450,000. The line of credit is a demand loan bearing interest of 10% per annum. General Pacific 2021, and December 31, 2020 the balance of the line of credit was $0. The Company recorded accrued interest of $4,732 at September 30, 2021 and December 31, 2020, respectively.parties

~~During~~The ~~2014, the~~ Company ~~entered~~has ~~into~~two a line of credit ~~agreement~~ agreements with ~~Gemini~~related ~~Southern, LLC~~parties. OnFinTekk ~~April 1~~AP, ~~2018,~~LLC ~~the~~is ~~Company~~also ~~converted~~the ~~$525,000~~majority ofshareholder ~~debt~~in ~~owed~~the ~~to Gemini Southern, LLC into 4,375,000 shares of stock~~Company. ~~Gemini~~DEVCAP ~~Southern~~Partners, LLC ~~will~~is beowned ~~treated~~by asthe asame related party ~~for~~that ~~all~~owns ~~activity~~Fintekk ~~from the date of the conversion forward~~AP. ~~The~~ ~~line~~See ofNote ~~credit~~6 isfor afurther ~~demand loan with a maximum of $950,000 bearing interest at 10%, maturing December 2023~~disclosure. At September 30, 2021, and December 31, 2020, the balance due on the line was $756,949 and $640,626, respectively. The Company recorded accrued interest of $149,448 and $94,600 as of September 30, 2021 and December 31, 2020, respectively.

~~NOTE 8 – LONG-TERM LIABILITIES – RELATED PARTY~~11

~~On October 1~~TEARDROPPERS, ~~2017, the Company acquired from Gemini Southern, LLC a 2006 Ultra-Comp 53” NASCAR type vehicle transport hauler (the “Hauler”) to be used for promotional / advertising services~~INC. The purchase price of the Hauler was $165,000. The Company paid for the Hauler with a promissory note (the “Hauler Note”). The Hauler Note bears interest at 12% per annum and is payable as follows: (i) interest only from October 1, 2017 through February 28, 2018; (ii) $ $3,670 per month from March 1, 2018 through February 28, 2022; and $45,000 on February 1, 2022. The trailer is collateral for the promissory note. The balance of the loan was $83,679 as of December 31, 2020. On April 2, 2021, the Company sold the Hauler for $75,095 and paid Gemini Southern the balance of the loan. The book value of the Hauler was $49,500 resulting in a gain of $25,595.

12CONDENSED NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

~~TEARDROPPERS~~For the Three Months Ended March 31, ~~INC.~~2022 and 2021

~~CONDENSED~~Consulting ~~NOTES~~expense TOto ~~FINANCIAL~~related ~~STATEMENTS~~party (~~Unaudited~~FinTekk AP, LLC)

On January 1, 2014, the Company executed a three-year consulting agreement with DEVCAP Partners, LLC, (“DEVCAP”), whereby the Company agreed to pay approximately $7,500 a month for consulting services to be provided to the Company such as marketing, architectural development, accounting, finance, corporate structure and tax planning. Effective July 1, 2019, the agreement was transferred to FinTekk AP, LLC (“FinTekk”). All amounts due to DEVCAP and all future services will be assumed by FinTekk. For the ~~Three~~three months ended March 31, 2022 and ~~Nine~~2021, ~~Months~~the ~~Ended~~Company ~~September~~recorded consulting 30fee expense of $22,500, respectively. The amount due but unpaid is $310,335 and $287,835 at March 31, 2022 and December 31, 2021, respectively, and ~~2020~~is included in accounts payable related parties on the balance sheets.

OnConsulting ~~December~~expense ~~22,~~to ~~2018,~~related ~~the~~party ~~Company leased a vehicle~~(Ray from the majority shareholder. The term of the lease is 84 months with payments of $423 per month. At the end of the lease the Company can purchase the vehicle for $2,500. As of September 30, 2021, it is reasonably expected that the Company will exercise the purchase option. The value of the asset and corresponding liability at the date of inception was $30,089, the net present value of the lease payments, including the purchase option, using an interest rate of 6.649% in accordance with the provisions of ASC 842. The balance of the lease liability at September 30, 2021 and December 31, 2020 was $21,850 and $23,042, respectively.Gerrity)

~~Future~~On ~~lease~~January ~~payments~~1, ~~will~~2014, bethe Company entered into a verbal consulting agreement with its Chief Executive Officer, Ray Gerrity, whereby the Company agreed to pay $2,500 per quarter for consulting services related to his duties as ~~follows:~~Chief Executive Officer. Mr. Gerrity resigned his position effective March 31, 2018. The amount due but unpaid was $32,500 at March 31, 2022 and December 31, 2021, respectively, and was included on the balance sheet as accounts payable - related parties.

Future lease payments
2021 (remainder of year)	$	3,385
2022		5,078
2023		5,078
2024		5,078
Thereafter		7,155
Total payments		25,774
Less deferred interest		(3,924	)
Total liability		21,850
Less current portion		(5,370	)
Long-term lease liability	$	16,480

Consulting expense to related party (Robert Wilson)

~~There~~On ~~are~~January no1, ~~commitments~~2014, orthe ~~contingencies~~Company ~~related~~entered into a verbal consulting agreement with its Chief Financial Officer, Robert Wilson, whereby the Company agreed to pay $2,500 per quarter for consulting services related to his duties as Chief Financial Officer. Mr. Wilson resigned effective April 1, 2017. The amount due but unpaid was $17,500 at March 31, 2022 and December 31, 2021, respectively, and was included on the ~~long-term~~balance ~~liabilities~~sheet ~~that~~as ~~are~~accounts ~~not~~payable ~~disclosed~~- related ~~above~~parties.

~~NOTE~~Consulting 9expense –to ~~OTHER~~related ~~RELATED~~party ~~PARTY TRANSACTIONS~~(Cody ~~and RELATED PARTY ACOUNTS PAYABLE~~Ware)

~~Consulting~~On ~~expense~~January 1, 2019, the Company entered into a consulting agreement with its Chief Executive Officer, Cody Ware, whereby the Company agreed to pay $1,500 per month for consulting services related ~~party~~to ~~(DEVCAP~~his duties as Chief Executive Officer. Effective July 2020, the amount was increased to $4,500 per month. The Company ~~Partners~~recorded consulting fee expense of $13,500 for ~~LLC)~~the three months ended March 31, 2022 and 2021. As of March 31, 2022 and December 31, 2021, the amount due but unpaid was $54,000 and $43,500, respectively and is included in accounts payable – related parties on the balance sheet.

OnExpense January 1, 2014, the Company executed a three-year consulting agreement with DEVCAP Partners, LLC, (“DEVCAP”), whereby the Company agreed to pay $7,500 a month for consulting services to be provided to the Company such as marketing, architectural development, accounting, finance, corporate structure and tax planning. Effective July 1, 2019, the agreement was transferred to FinTekk AP, LLC (“FinTekk”). All amounts due to DEVCAP and all future services will be assumed by FinTekk. For the three and nine months ended September 30, 2021 and 2020, the Company recorded consulting fee expense of $22,500 and $67,500, respectively. The amount due but unpaid is $265,335 and $243,825 at September 30, 2021 and December 31, 2020, respectively, and is included in accounts payable related parties on the balance sheets.reimbursements

~~Consulting~~The ~~expense~~majority shareholder of the Company pays certain ongoing operating costs from personal funds and is periodically reimbursed. As of March 31, 2022 and December 31, 2021 the amounts due to ~~related~~the ~~party~~shareholder ~~(Cody~~was $50,075 ~~Ware)~~and is reflected in accounts payable – related parties on the balance sheet.

OnOther ~~January 1, 2019, the Company entered into a verbal consulting agreement with its Chief Executive Officer, Cody Ware, whereby the Company agreed to pay $1,500 per month for consulting services~~ related toparty his duties as Chief Executive Officer. Effective May 1, 2020, the consulting fee was increased to $4,500 per month. For the three and nine months ended September 30, 2021, the Company recorded consulting fee expense of $13,500 and $40,500, respectively. For the three and nine months ended September 30, 2020, the Company recorded consulting fee expense of $13,500 and $28,500, respectively. At September 30, 2021 and December 31, 2020, the amount due but unpaid was $36,000 and $3,000, respectively and reflected in accounts payable – related parties on the condensed balance sheets.transactions

13On February 4, 2021, the Company purchased a 1983 Toyota truck from the majority shareholder for use in the business operations.

~~TEARDROPPERS,~~NOTE ~~INC.~~9 – STOCKHOLDERS’ DEFICIT

~~CONDENSED~~At ~~NOTES~~the TOtime ~~FINANCIAL~~of ~~STATEMENTS~~incorporation, ~~(Unaudited)~~the Company was authorized to issue 10,000 shares of common stock and 1,000 shares of preferred stock with a par value of $0.001. The Company amended its articles of incorporation to increase it authorized shares to 200,000,000 shares of common stock and 20,000,000 shares of preferred stock, both $0.001 par value.

~~For the Three and Nine Months Ended September 30, 2021 and 2020~~12

~~Consulting~~TEARDROPPERS, ~~expense to related party (Robert Wilson)~~INC.

OnCONDENSED ~~January~~NOTES 1,TO ~~2014,~~FINANCIAL ~~the~~STATEMENTS Company entered into a verbal consulting agreement with its Chief Financial Officer, Robert Wilson, whereby the Company agreed to pay $2,500 per quarter for consulting services related to his duties as Chief Financial Officer. Mr. Wilson resigned effective April 1, 2017. The amount due but unpaid was $17,500 at September 30, 2021 and December 31, 2020, respectively, and was included on the balance sheets as accounts payable - related parties.(UNAUDITED)

~~Consulting~~For ~~expense~~the toThree ~~related~~Months ~~party~~Ended ~~(Ray~~March 31, 2022 and ~~Gerrity)~~2021

~~On January 1, 2014, the Company entered into a~~NOTE ~~verbal~~10 ~~consulting~~– ~~agreement~~CONTINGENCIES ~~with~~AND its Chief Executive Officer, Ray Gerrity, whereby the Company agreed to pay $2,500 per quarter for consulting services related to his duties as Chief Executive Officer. Mr. Gerrity resigned his position effective March 31, 2018. The amount due but unpaid was $32,500 at September 30, 2021 and December 31, 2020, respectively, and was included on the balance sheets as accounts payable - related parties.COMMITMENTS

~~Expense~~The ~~reimbursements~~Company’s ability to collect on receivables and pay liabilities is connected to NASCAR race schedule. The 2020 and 2021 NASCAR schedules were severely disrupted by Covid, which caused delays in both collections and payments. Management believes the 2022 NASCAR schedule will not be disrupted. This will allow collections on receivables and payments on liabilities to be timely made. There are no other commitments or contingencies related to the assets and liabilities that are not disclosed above.

~~The~~NOTE ~~majority~~12 shareholder of the Company pays certain ongoing operating costs from personal funds and is periodically reimbursed. As of September 30, 2021, and December 31, 2020, the amount due to the shareholder was $34,633 and $29,250, respectively is reflected in accounts payable – ~~related~~SUBSEQUENT ~~parties on the balance sheets.~~EVENTS

~~Sale~~The COVID-19 outbreak in 2020 had a significant impact on business in general. The NASCAR race schedule was severely disrupted. The Company’s operations are directly connected to the NASCAR schedule. Due to the disruption in NASCAR events, collection of ~~asset~~revenues and payment of expenses was delayed in some cases. Revenues declined significantly in 2021 versus 2020. Expenses for 2021 were consistent with prior periods. The Company did not experience a significant detrimental change. Management believes the 2022 NASCAR race schedule will not be significantly impacted and should not have a material impact on future operations. Due to the level of risk this virus may have on the global economy, it is at least reasonably possible that it could have an impact on the operations of the Company in the near term that could materially impact the Company’s financials.

In March 2018, the Company entered into a four-year agreement to lease equipment to a related party. On April 2, 2021 when the lease expired, the Company sold the asset to the related party for $75,095 and recognized a gain of $25,595. The gain is reported on statement of operations as other income.13

NOTE 10 – STOCKHOLDERS’ DEFICIT

At the time of incorporation, the Company was authorized to issue 10,000 shares of common stock and 1,000 shares of preferred stock with a par value of $0.001. The Company amended its articles of incorporation in April 2016 to increase its authorized shares to 200,000,000 shares of common stock and 20,000,000 shares of preferred stock, both $0.001 par value.

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

Safe Harbor for Forward-Looking Statements

When used in this report, the words “may,” “will,” “expect,” “anticipate,” “continue,” “estimate,” “project,” “intend,” and similar expressions are intended to identify forward-looking statements within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934 regarding events, conditions, and financial trends that may affect the Company’s future plans of operations, business strategy, operating results, and financial position. Persons reviewing this report are cautioned that any forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties and that actual result may differ materially from those included within the forward-looking statements as a result of various factors. Such factors are discussed under the “Item 2. Management’s Discussion and Analysis of Financial Condition or Plan of Operations,” and also include general economic factors and conditions that may directly or indirectly impact the Company’s financial condition or results of operations.

Three Months Ended ~~September~~March 3031, ~~2021~~2022 Compared to Three Months Ended ~~September~~March 3031, ~~2020~~2021

Revenues

The Company had ~~$1,275~~no in revenue $0 during the three months ended ~~September~~March 3031, ~~2021~~2022 compared to $1913,275 in revenue during the three months ended ~~September~~March 3031, ~~2020~~2021. The ~~decrease~~lease in revenue for the March quarter was ~~due~~received tolate ~~delayed~~by ~~lease~~the ~~payments,~~lessor ~~which~~and ~~payments were received~~ after ~~September~~the ~~30,~~close ~~2021~~of by the ~~company~~quarter.

Operating Expenses

For the three months ended ~~September~~March 3031, ~~2021 operating~~2022 operating expenses were $83103,~~554~~299 compared to $89131,~~464~~790 for the same period in ~~2020~~2021 for a decrease of $528,~~910~~491. The decrease was due primarily ~~a result~~to a decrease in consulting ~~from~~to ~~related~~unrelated parties ~~from $44~~,~~300~~ ~~to $36,000 and a decrease in~~ general and administrative ~~expenses from $38,464 to $31,854. This was offset by an increase in consulting~~ fees ~~to unrelated parties from $5,000 to $10,000~~ and ~~an increase in~~ professional ~~fees~~ ~~from $1,700 to $5,700~~fees.

Other Income (Expense)

Interest expense was $20,774 for the three months ended September 30, 2021 compared to $17,157 for the three months ended September 30, 2020. The interest expense increased due to an increase in the indebtedness of the Company.

Net Loss

The Company incurred losses of $103,053 for the three months ended September 30, 2021 compared to $87,346 during the three months ended September 30, 2020 due to the factors discussed above.

Nine Months Ended September 30, 2021 Compared to Nine Months Ended September 30, 2020

Revenues

The Company had $15,825 in revenue during the nine months ended September 30, 2021 compared to $51,825 in revenue during the nine months ended September 30, 2020. The decrease was related to the sale of an asset prior in 2021 and to lease payments not yet received by the Company that were due in the quarter.

Operating Expenses

For the nine months ended September 30, 2021 operating expenses were $313,896 compared to $349,947 for the same period in 2020 for a decrease of $36,051. The decrease was primarily a result of the decrease in general and administrative fees from $158,094 to $29,513.

Interest and Financing Costs

Interest expense, ~~was~~net of interest income, was $7923,~~916~~734 for the ~~nine~~three months ended ~~September~~March 3031, ~~2021~~2022 compared to $6517,~~426~~235 for the ~~nine~~three months ended ~~September~~March 3031, ~~2020~~2021. The ~~interest~~increase ~~expense~~in ~~increased~~interest expenses ~~for~~was ~~the period~~ due to an increase in the amount of indebtedness ~~for~~of the company.

Net Income (Loss)

The Company incurred losses of $~~332~~127,~~513~~033 for the ~~nine~~three months ended ~~September~~March 3031, ~~2021~~2022 compared to losses of $~~346~~135,~~178~~750 during the ~~nine~~three months ended ~~September~~March 3031, ~~2020~~2021. The change was due primarily to the factors discussed above.

LIQUIDITY AND CAPITAL RESOURCES

The Company'’s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustment relating to recoverability and classification of recorded amounts of assets and liabilities that might be necessary should the Company be unable to continue as a going concern.

The Company has a minimum cash balance available for payment of ongoing operating expenses and has incurred losses since inception and anticipates future losses in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. Its continued existence is dependent upon its ability to continue to execute its operating plan and to obtain additional debt or equity financing. There can be no assurance the necessary debt or equity financing will be available, or will be available on terms acceptable to the Company.

The Company had $73,943 in cash at September 30, 2021 with availability on our related party lines of credit with FinTekk AP, LLC of $129,371, General Pacific Partners, LLC of $450,000, and Gemini Southern, LLC of $193,051. As of September 30, 2021 we had a working capital deficit of $2,068,114.14

The Company had $34,305 in cash at March 31, 2022 with availability on our related party lines of credit with FinTekk Partners, LLC, General Pacific Partners, LLC, and Gemini Southern, LLC of $1,154,060. At March 31, 2022 we had a working capital deficit of $2,286,652.

Operating activities

During the ~~nine~~three months ended ~~September~~March 3031, ~~2021~~2022, we had ~~$137,724~~ cash used in operating activities of $43,512 as compared to $~~170~~47,~~433~~741 during the ~~nine~~three months ended ~~September~~March 3031, ~~2020~~2021, a decrease in cash outflows of $324,~~709~~229. The ~~change~~decrease between the periods was ~~primarily~~largely due to ahigher ~~decrease~~payments infor ~~accounts~~consulting ~~payable~~fees ~~related~~and ~~parties~~audit offees ~~$49~~in the three months ended March 31,~~887~~ 2021.

Investing activities

We ~~had~~used ~~$38,982 of~~ cash ~~provided~~flows byin investing activities of $0 during the ~~nine~~three months ended ~~September~~March 3031, ~~2021~~2022 ~~versus~~compared (to $6936,~~000)~~113 for the same period in ~~2020~~2021. ~~The~~There ~~increase~~were ~~was~~no ~~due~~vehicle torelated purchases for the ~~sale~~period ofended aMarch ~~trailer asset~~31, 2022.

Financing activities

During the ~~nine~~three months ended ~~September~~March 3031, ~~2021~~2022, we generated $~~123~~48,~~212~~659 from financing activities compared to $~~254~~80,~~131~~587 for the same period ended ~~September~~March 3031, ~~2020~~2021. The ~~decrease~~increase was primarily due to ~~decreased~~an ~~borrowing~~increase in the amount received from ~~our~~a related party line of credit ~~of $352,744 from $608,720 from the same period in 2020~~.

ITEM 3. Quantitative and Qualitative Disclosures about Market Risk.

As a “smaller reporting company,” we are not required to provide the information under this Item 3.

ITEM 4. Controls and Procedures

~~Management~~Evaluation ~~evaluated the effectiveness~~ of ~~our~~ disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended, or the Exchange Act), as of September 30, 2021, the end of the fiscal period covered by this Quarterly Report on Form 10-Q. SEC rules define the term “disclosure controls and procedures” to mean a company’s controls and other procedures that are designed to ensure that information required to be disclosed in the reports it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time period specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in its reports filed under the Exchange Act is accumulated and communicated to the company’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

~~Our~~Based ~~management,~~upon ~~including the Chief Executive Officer and Chief Financial Officer (our principal executive officer and principal financial officer, respectively), carried out~~ an evaluation of the effectiveness of our disclosure controls and procedures asperformed ~~of the end of the period covered~~ by ~~this Quarterly Report on Form 10-Q. Based on this evaluation,~~ our Chief Executive Officer ~~and Chief Financial Officer concluded that our disclosure controls and procedures were not effective~~ as of ~~September 30, 2021 to ensure that~~ the ~~information~~end ~~required~~of ~~to be disclosed in~~ the ~~reports~~period ~~filed~~covered ~~or submitted~~ by usthis ~~under the Exchange Act was recorded~~report, ~~processed, summarized and reported within the requisite time periods and that such information~~ ~~was accumulated and communicated to~~ our ~~management, including our~~ Chief Executive Officer ~~and~~concluded ~~Chief~~that ~~Financial~~our ~~Officer, as appropriate to allow for timely decisions regarding required~~ disclosure. ~~Management plans to address these deficiencies by undertaking various actions, such as implementing new internal~~ controls and procedures ~~and~~have ~~hiring~~not ~~additional~~been ~~accounting~~effective oras ~~internal~~a ~~audit~~result ~~staff.~~of ~~In this regard, we will need to continue to dedicate internal resources, engage outside consultants and adopt~~ a ~~detailed~~weakness ~~work plan to assess and document~~in the ~~adequacy~~design of internal control over financial reporting, ~~continue~~identified steps to improve control processes, validate through testing that controls are functioning as documented and implement a continuous reporting and improvement process for internal control over financial reportingbelow.

NoAs ~~changes~~used inherein, “disclosure controls and procedures” mean controls and other procedures of our ~~internal~~company ~~control~~that ~~over~~are ~~financial~~designed ~~reporting~~to ~~occurred~~ensure that information required to be ~~during~~disclosed by us in the ~~period~~reports ~~ended~~that ~~September~~we 30file or submit under the Securities Exchange Act is recorded, ~~2021~~processed, ~~that~~summarized ~~have~~and ~~materially~~reported, within ~~affected~~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 us in the reports that we file or ~~are~~submit ~~reasonably~~under the ~~likely~~Securities Exchange Act is accumulated and communicated to ~~materially~~our ~~affect~~management, including our ~~internal control~~principal ~~over~~executive and principal financial officers, ~~reporting~~or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

17Management’s Report on Internal Control over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rule 13a-15(f). The Company’s internal control over financial reporting is a process designed to provide reasonable assurance to our management and board of directors regarding the reliability of financial reporting and the preparation of the financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America.

Our internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles generally accepted in the United States of America, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company’s assets that could have a material effect on the financial statements.

This quarterly report does not include an attestation report of our registered independent public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by our registered independent public accounting firm.

Changes in Internal Control Over Financial Reporting

No changes in our internal control over financial reporting occurred during the quarter ended March 31, 2022 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

ITEM 1. Legal Proceedings

We know of no material, existing or pending legal proceedings against us, nor are we involved as a plaintiff in any material proceeding or material pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our company.

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds

~~None~~During the three months ended March 31, 2022, the Company issued no shares of common stock.

ITEM 3. Default Upon Senior Securities

During the ~~nine~~three months ended ~~September~~March 3031, ~~2021~~2022, the Company had no senior securities issued and outstanding.

ITEM 4. Mine Safety Disclosures

Not applicable to our Company.

ITEM 5. Other Information

~~None~~During the three months ended March 31, 2022, the Company reported no other information.

ITEM 6. Exhibits

Copies of the following documents are included as exhibits to this report pursuant to Item 601 of Regulation S-K.

SEC Ref. No.		Title of Document
31.1*		Certification of the Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*		Certification of the Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1*		Certification of the Principal Executive Officer pursuant to U.S.C. pursuant to Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2*		Certification of the Principal Financial Officer pursuant to U.S.C. pursuant to Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
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 Label Linkbase Document
101.PRE*		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104*		Cover Page Interactive Data File (~~formatted~~embedded inwithin ~~IXBRL,~~the ~~and~~Inline ~~included~~XBRL ~~in exhibit 101~~document).

Filed herewith.

1817

SIGNATURES

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

THE TEARDROPPERS, INC. By: /s/ Cody Ware Cody Ware Chief Executive Officer

~~November~~Date: 8May 17, ~~2021~~2022

~~By: /s/ Cody Ware~~ 18

Cody Ware

Chief Executive Officer

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