Quizam Media : 2nd Quarter 2021

About this update from Quizam Media Corp.

QUIZAM MEDIA CORPORATION CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED NOVEMBER 30, 2021 AND 2020 (Unaudited) The accompanying unaudited interim financial statements have been prepared by Management of Quizam Media CorporaTon and have not been reviewed by the Company's auditors QUIZAM MEDIA CORPORATION CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Expressed in Canadian dollars) (Unaudited - Prepared by Management) As at November As at 30, May 31, 2021 2021 $ $ ASSETS Current Cash and cash equivalents 505,305 921,534 Accounts receivable 59,071 67,761 Sales taxes recoverable 7,070 4,724 Prepaid expenses and deposits 119,721 84,938 Inventory (Note 3) 208,818 120,835 Total current assets 899,985 1,199,792 Property and equipment (Note 4) 1,305,550 868,226 Total assets 2,205,535 2,068,018 LIABILITIES Current Accounts payable and accrued liabilities 442,465 382,630 Deferred revenue 61,056 21,833 Due to related parties (Note 10) 14,731 23,606 Lease liabilities - Current (Note 16) 383,574 307,244 Total current liabilities 901,826 735,313 Lease liabilities - Long-term (Note 16) 798,861 455,265 Loan payable - Long-term (Note 15) 60,000 60,000 2 Total liabilities 1,760,687 1,250,578 DEFICIENCY Share capital (Note 5) 24,792,167 24,245,652 Share subscriptions receivable (5,000) - Contributed surplus 3,182,498 3,173,032 Deficit (27,524,817) (26,601,244) Total surplus/(deficiency) 444,848 817,440 Total liabilities and deficiency 2,205,535 2,068,018 Nature and continuance of operations (Note 1) APPROVED ON BEHALF OF THE BOARD ON JANUARY 29, 2021 /s/ "Russ Rossi" /s/ "Jim Rosevear" Russ Rossi, Director Jim Rosevear, Director The Accompanying Notes are an Integral Part of the Consolidated Financial Statements 2 QUIZAM MEDIA CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Expressed in Canadian dollars) (Unaudited - Prepared by Management) Thre Six Three e Month Month Mon s s ths Six Endin Endin Endi Months g g ng Ending Nove Novembe Novemb Novemb mber r 30 er 30 er 30 30 2021 2020 2021 2020 $ $ $ $ REVENUES Training services and software sales 95,826 72,559 177,246 127,451 Consulting fees - - - - Retail sales 1,503,103 881,367 3,027,090 1,178,334 1,598,929 953,926 3,204,336 1,305,785 EXPENSES Accounting and legal (Note 10) 113,990 92,231 169,044 144,157 Automobile 8,941 8,742 16,778 18,442 Bank charges and finance fees 22,932 10,816 43,324 29,565 Depreciation 119,783 26,016 213,495 100,329 Investor and finance development (Note 10) 51,155 16,595 80,311 34,473 Management fees (Note 10) 56,000 36,000 100,500 60,000 Office and miscellaneous (Note 10 and 17) 252,897 133,270 507,552 176,350 On-Track TV development costs (Note 9 and 10) 21,050 850 52,200 18,250 Regulatory fees 6,463 6,151 9,892 14,067 Rent 25,723 - 51,529 11,049 Research and development (Note 10) 63,556 (20,525) 140,706 59,675 Retail inventory (Note 3) 936,598 546,125 1,888,633 732,425 Software development costs (Note 10) 2,500 7,200 14,000 12,250 Share-based compensation (Note 10) - - 10,331 196,892 Subcontractors (Note 10) 46,219 83,820 70,902 198,116 Th Accompanying Notes are an In l Part of the Consolidated Financial Statements 11,342 Telephone and internet 7,613 5,322 14,496 3

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