UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 10-Q

 

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

 

 

 

For the quarterly period ended March 31, 2022

 

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: 001-35923

 

AUSCRETE CORPORATION

 (Exact name of registrant as specified in its charter)

 

Wyoming

 

 27-1692457

(State of Incorporation)

 

(IRS Employer ID Number)

 

49 John Day Dam Rd

Goldendale, WA98620

(Address of principal executive office)

 

Registrant’s telephone number, including area code (509) 261-2525

 

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

 

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

 

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

 

Large accelerated filer

Accelerated filer

Non-accelerated Filer

Smaller reporting company

 

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if registrant has elected not to extended transition period for complying with any new of revise financial accounting standards provided pursuant to ‘Section 7(a)(2)(B) of the Security Act. ☐ Yes      ☒ No

 

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

 

APPLICABLE TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

 

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. ☐ Yes      ☐ No

 

APPLICABLE ONLY TO CORPORATE ISSUERS:

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock. The number of shares outstanding as of May 23, 2022 of the Issuer’s Common Stock is 57,311,499

 

 

 

  

AUSCRETE CORPORATION

 

March 31, 2022

 

TABLE OF CONTENTS

 

 

 

 

Page

 

PART I - FINANCIAL STATEMENTS

 

 

 

 

 

 

 

 

Item 1 -

Financial Statements

 

 

 

 

 

 

 

 

 

Balance Sheets as at March 31, 2022 (unaudited) and December 31, 2021 (audited)

 

3

 

 

 

 

 

 

 

Statements of Operations (unaudited) for the three months ended March 31, 2022 and 2021 respectively

 

4

 

 

 

 

 

 

 

Statements of Stockholders Equity (unaudited) for the three months ended March 31, 2022 and 2021 respectively

 

5

 

 

 

 

 

 

 

Statements of Cash Flows (unaudited) for the three months ended March 31, 2022 and 2021 respectively

 

6

 

 

 

 

 

 

 

Notes to Financial Statements

 

7

 

 

 

 

 

 

Item 2 -

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

 

15

 

 

 

 

 

 

Item 3 -

Quantitive and Qualitive Disclosures about Market Risk

 

17

 

 

 

 

 

 

Item 4 -

Controls and Procedures

 

17

 

 

 

 

 

 

PART II - OTHER INFORMATION

 

 

 

 

 

 

 

 

Item 1 -  

Legal Proceedings

 

19

 

 

 

 

 

 

Item 2 -  

Unregistered Sales of Equity Securities and Use of Proceeds

 

19

 

 

 

 

 

 

Item 3 -

Defaults Upon Senior Securities

 

19 

 

 

 

 

 

 

Item 4 -

Mine Safety Disclosures

 

19 

 

 

 

 

 

 

Item 5 -

Other Information

 

19 

 

 

 

 

 

 

Item 6 -  

Exhibits - Exhibit 31.1 and 32.1

 

Attached

 

 

 
2

Table of Contents

 

AUSCRETE CORPORATION

BALANCE SHEETS

 

 

 

Un-Audited

 

 

 

 

 

March 31,

 

 

December 31,

 

ASSETS

 

2022

 

 

2021

 

CURRENT ASSETS:

 

 

 

 

 

 

Cash

 

$ 12,411

 

 

$ -

 

Accounts Receivable

 

 

8,000

 

 

 

8,000

 

Prepaid Expenses

 

 

4,721

 

 

 

6,202

 

Inventory

 

 

6,197

 

 

 

6,197

 

TOTAL CURRENT ASSETS

 

 

31,329

 

 

 

20,399

 

 

 

 

 

 

 

 

 

 

Property, Plant and Equipment (net)

 

 

37,207

 

 

 

40,193

 

Deposits

 

 

-

 

 

 

-

 

TOTAL ASSETS

 

$ 68,536

 

 

$ 60,592

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

 

 

 

 

 

 

 

 

CURRENT LIABILITIES:

 

 

 

 

 

 

 

 

Bank Overdraft

 

$ -

 

 

$ 5,624

 

Accounts Payable and Accrued Expenses

 

 

126,412

 

 

 

121,170

 

Accrued Interest Payable

 

 

256,767

 

 

 

231,373

 

Notes Payable (net of discount)

 

 

963,389

 

 

 

890,139

 

Derivative Liability

 

 

470,600

 

 

 

295,306

 

Related Party Advances

 

 

-

 

 

 

-

 

TOTAL CURRENT LIABILITIES

 

 

1,817,168

 

 

 

1,543,612

 

TOTAL LIABILITIES

 

 

1,817,168

 

 

 

1,543,612

 

 

 

 

 

 

 

 

 

 

Commitments and Contingencies

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

STOCKHOLDERS’ EQUITY (DEFICIT)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock, 0.0001 par value, authorized 2,000,000,000 shares 56,798,678 and 56,798,678 shares issued and outstanding as of March 31, 2022 and December 31, 2021 respectively, restated to APIC below for the 40 for 1 reverse stock split.

 

 

5,679

 

 

 

5,679

 

Additional Paid In Capital

 

 

11,621,307

 

 

 

11,621,307

 

Shares to be issued

 

 

-

 

 

 

-

 

Accumulated deficit

 

 

(13,375,618 )

 

 

(13,110,006 )

TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)

 

 

(1,748,632 )

 

 

(1,483,020 )

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

 

$ 68,536

 

 

$ 60,592

 

 

The accompanying notes are an integral part of these financial statements

 

 
3

Table of Contents

 

AUSCRETE CORPORATION 

STATEMENTS OF OPERATIONS 

For the three months ended March 31,  

Un-Audited 

 

 

 

2022

 

 

2021

 

REVENUE

 

$ -

 

 

$ -

 

 

 

 

 

 

 

 

 

 

Cost of Goods sold

 

 

-

 

 

 

 

 

Gross Profit

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

 

 

 

Accounting and Legal

 

 

8,000

 

 

 

2,900

 

Salaries and wages

 

 

45,790

 

 

 

50,776

 

Share based expense

 

 

-

 

 

 

-

 

G&A Expenses

 

 

22,899

 

 

 

24,693

 

Depreciation expense

 

 

2,985

 

 

 

2,985

 

TOTAL EXPENSES

 

 

79,674

 

 

 

81,354

 

Income (loss) from operations

 

 

(79,674 )

 

 

(81,354 )

OTHER INCOME (EXPENSES)

 

 

 

 

 

 

 

 

Gain / (Loss) on derivative

 

 

(95,426 )

 

 

236,909

 

Financing cost

 

 

(41,868 )

 

 

(9,820 )

Interest Expense

 

 

(48,644 )

 

 

(34,985 )

TOTAL OTHER INCOME (EXPENSES)

 

 

(185,938 )

 

 

192,104

 

 

 

 

 

 

 

 

 

 

INCOME (LOSS) BEFORE TAXES

 

 

(265,612 )

 

 

110,750

 

Provision for Income Taxes

 

 

-

 

 

 

-

 

NET INCOME (LOSS)

 

$ (265,612 )

 

$ 110,750

 

 

 

 

 

 

 

 

 

 

NET INCOME (LOSS) PER COMMON SHARE - BASIC AND DILUTED

 

$ (0.00 )

 

$ 0.03

 

 

 

 

 

 

 

 

 

 

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC AND DILUTED

 

 

56,798,678

 

 

 

3,538,145

 

 

The accompanying notes are an integral part of these financial statements

 

 
4

Table of Contents

 

AUSCRETE CORPORATION

STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY

as of March 31, 2022

(Un-audited)

 

 

 

Common Stock

 

 

Additional

 

 

Accumulated

 

 

 

 

 

Shares

 

 

Amount

 

 

 Paid in Capital

 

 

 Deficit

 

 

TOTAL

 

Balance, December 31, 2020

 

 

3,428,652

 

 

$ 372

 

 

$ 8,897,873

 

 

$ (10,045,978 )

 

$ (1,147,733 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note conversion

 

 

130,409

 

 

 

13

 

 

 

45,502

 

 

 

 

 

 

 

45,515

 

Round up shares

 

 

965

 

 

 

(29 )

 

 

29

 

 

 

 

 

 

 

 

 

Net Loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

110,750

 

 

 

110,750

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

-

 

Balance, March 31, 2021

 

 

3,560,026

 

 

 

356

 

 

 

8,943,404

 

 

 

(9,935,228 )

 

 

(991,468 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(122,952 )

 

 

(122,952 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

-

 

Balance, June 30, 2021

 

 

3,560,026

 

 

 

356

 

 

 

8,943,404

 

 

 

(10,058,180 )

 

 

(1,114,420 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(110,873 )

 

 

(110,873 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

-

 

Balance, September 30, 2021

 

 

3,560,026

 

 

$ 356

 

 

$ 8,943,404

 

 

$ (10,169,053 )

 

$ (1,225,293 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares issued for services

 

 

53,238,652

 

 

 

5,323

 

 

 

2,677,903

 

 

 

-

 

 

 

2,683,226

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2,940,953 )

 

 

(2,940,953 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

-

 

Balance, December 31, 2021

 

 

56,798,678

 

 

$ 5,679

 

 

$ 11,621,307

 

 

$ (13,110,006 )

 

$ (1,483,020 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(265,612 )

 

 

(265,612 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

-

 

Balance, March 31, 2022

 

 

56,798,678

 

 

$ 5,679

 

 

$ 11,621,307

 

 

$ (13,375,618 )

 

$ (1,748,632 )

 

The accompanying notes are an integral part of these financial statements

 

 
5

Table of Contents

 

AUSCRETE CORPORATION

STATEMENT OF CASH FLOWS

for the three months ended March 31,

 

 

 

2022

 

 

2021

 

OPERATING ACTIVITIES

 

Net Income (Loss)

 

$ (265,612 )

 

$ 110,750

 

Finance Costs

 

 

41,868

 

 

 

18,014

 

Depreciation

 

 

2,985

 

 

 

2,985

 

Change in other assets

 

 

1,481

 

 

 

(2,199 )

Change in Accounts Receivable

 

 

-

 

 

 

-

 

Share Based expense

 

 

-

 

 

 

-

 

Change in Accounts Payable and Accrued Expenses

 

 

30,636

 

 

 

13,937

 

Change in Related Party Advances

 

 

-

 

 

 

-

 

Change in Derivative and Note Discount

 

 

118,677

 

 

 

(228,405 )

Net Cash Used by Operating Activities

 

 

(69,965 )

 

 

(84,918 )

 

 

 

 

 

 

 

 

 

INVESTING ACTIVITIES:

 

 

 

 

 

 

 

 

Purchase of Equipment

 

 

-

 

 

 

-

 

Net cash used by investing activities

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

FINANCING ACTIVITIES:

 

 

 

 

 

 

 

 

Bank Overdraft / (Repayment)

 

 

(5,624 )

 

 

-

 

Proceeds from notes payable

 

 

88,000

 

 

 

85,000

 

Net cash provided by financing activities

 

 

82,376

 

 

 

85,000

 

NET INCREASE (DECREASE) IN CASH

 

 

12,411

 

 

 

82

 

 

 

 

 

 

 

 

 

 

CASH AT BEGINNING OF PERIOD

 

 

-

 

 

 

14,591

 

 

 

 

 

 

 

 

 

 

CASH AT END OF PERIOD

 

$ 12,411

 

 

$ 14,673

 

 

 

 

 

 

 

 

 

 

Supplemental Cashflow Information

 

 

 

 

 

 

 

 

Interest Paid

 

$ -

 

 

$ -

 

Taxes Paid

 

$ -

 

 

$ -

 

 

The accompanying notes are an integral part of these financial statements

 

 
6

Table of Contents

 

AUSCRETE CORPORATION

UNAUDITED NOTES TO FINANCIAL STATEMENTS

March 31, 2022

 

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

HISTORY

 

Auscrete Corporation (“the Company”) was formed as an enterprise to take advantage of technologies developed for the construction of affordable, thermally efficient and structurally superior housing. This “GREEN” product is the culmination of design and development since the early 1980’s. The company’s Registration Statement outlines the result of the amalgamation of various material development stages, taking an idea to a product and further developing that product to address an ongoing problem in the world’s largest marketplace, the quest for affordable, efficient and enduring housing. Auscrete’s structures are monetarily highly competitive. A turnkey house, ready to move in sells for around $100-110 per square foot. That is very low in today’s market but is brought about by Auscrete’s ability to manufacture large panels in mass production format. The house is virtually “fastened” together on site to produce an attractive site-built home, a home that will stay where it is put through all kinds of adverse weather and age conditions. It will not burn, is not affected by bugs, termites or rot, it saves extensively on energy costs and has very low maintenance needs.

 

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

 

The summary of significant accounting policies of Auscrete Corporation is presented to assist in the understanding of the Company’s financial statements. The financial statements and notes are representations of the Company’s management, who is responsible for their integrity and objectivity.

 

The financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The financial statements are presented in condensed format and should be read in conjunction with the audited financial statement on the form 10-K for the year ended December 31, 2021.

 

INCOME TAXES

 

On December 22, 2017 H.R. 1, originally known as the Tax Cuts and Jobs Act, (the “Tax Act”) was enacted. Among the significant changes to the U.S. Internal Revenue Code, the Tax Act lowers the U.S. federal corporate income tax rate (“Federal Tax Rate”) from 35% to 21% effective January 1, 2018. The Company will compute its income tax expense for the year ended December 31, 2021 using a Federal Tax Rate of 21%.

 

Income taxes are provided based upon the liability method of accounting pursuant to ASC 740-10-25 Income Taxes – Recognition. Under this approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end. A valuation allowance is recorded against deferred tax assets if management does not believe the Company has met the “more likely than not” standard required by ASC 740-10-25-5.

 

CASH AND CASH EQUIVALENTS

 

Cash and cash equivalents consist primarily of cash in banks and highly liquid investments with original maturities of 90 days or less. There were $12,411cash equivalents as of March 31, 2022, and $0 as of December 31, 2021.

 

 
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Table of Contents

 

Fair Value Measurements

 

The Company adopted guidance which defines fair value, establishes a framework for using fair value to measure financial assets and liabilities on a recurring basis, and expands disclosures about fair value measurements. The guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent sources. Unobservable inputs are inputs that reflect the Company’s assumptions of what market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the reliability of the inputs as follows:

 

Level 1 - Valuation is based upon unadjusted quoted market prices for identical assets or liabilities in accessible active markets.

 

Level 2 - Valuation is based upon quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; or valuations based on models where the significant inputs are observable in the market.

 

Level 3 - Valuation is based on models where significant inputs are not observable. The unobservable inputs reflect a company’s own assumptions about the inputs that market participants would use.

 

The Company’s financial instruments consist of cash, prepaid expenses, inventory, accounts payable, convertible notes payable, advances from related parties, and derivative liabilities. The estimated fair value of cash, prepaid expenses, investments, accounts payable, convertible notes payable and advances from related parties approximate their carrying amounts due to the short-term nature of these instruments.

 

The Company’s derivative liabilities have been valued as Level 3 instruments.

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Fair value of convertible notes derivative liability – March 31, 2022

 

$ -

 

 

$ -

 

 

$ 470,600

 

 

$ 470,600

 

 

Fair value of convertible notes derivative liability – March 31, 2022

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Fair value of convertible notes derivative liability – December 31, 2021

 

$ -

 

 

$ -

 

 

$ 295,306

 

 

$ 295,306

 

 

Fair value of convertible notes derivative liability – December 31, 2021

 

REVENUE RECOGNITION POLICY

 

The Company recognizes revenue under ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” (“ASC 606”). The core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the goods and services transferred to the customer. The following five steps are applied to achieve that core principle:

 

 

·

Identify the contract with the customer

 

·

Identify the performance obligations in the contract

 

·

Determine the transaction price

 

·

Allocate the transaction price to the performance obligations in the contract

 

·

Recognize revenue when the company satisfies a performance obligation

 

 
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For the three months ended March 31, 2022, our revenue was $0.

 

COST OF SALES

 

Amounts that will be recorded as cost of sales relate to direct expenses incurred in order to fulfill orders of our products. Such costs are recorded as incurred. Our cost of sales will consist primarily of the cost of product, labor and selling costs and does not include G&A expenses.

 

PROPERTY AND EQUIPMENT

 

Property and Equipment was stated at historical cost less Accumulated depreciation and amortization. Cost represents the purchase price of the asset and other costs incurred to bring the asset into its existing use.

 

Depreciation is provided on a straight-line basis over the assets’ estimated useful lives. The useful lives of the assets are as follows: equipment 7-years, vehicles 7-years, and buildings 30-years. Additions and improvements are capitalized while routine repairs and maintenance are charged to expense as incurred. Upon sale or disposition, the historically recorded asset cost and Accumulated depreciation are removed from the Accounts and the net amount less proceeds from disposal is charged or credited to other income or expense.

 

IMPAIRMENT OF LONG-LIVED ASSETS

 

We evaluate long-lived assets for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate their net book value may not be recoverable. When these events occur, we compare the projected undiscounted future cash flows associated with the related asset or group of assets over their estimated useful lives against their respective carrying amount. Impairment, if any, is based on the excess of the carrying amount over the fair value, based on market value when available, or discounted expected cash flows, of those assets and is recorded in the period in which the determination is made. There can be no assurance, however, that market conditions will not change or demand for the Company’s products will continue. Either of these could result in the future impairment of long-lived assets. Estimates of fair value are determined through various techniques, including discounted cash flow models and market approaches, as considered necessary.

 

LOSS PER COMMON SHARE

 

Basic loss per common share is computed based upon the weighted average number of common shares outstanding during the period. Diluted earnings per share consists of the weighted average number of common shares outstanding plus the dilutive effects of options and warrants calculated using the treasury stock method. In loss periods, dilutive common equivalent shares are excluded as the effect would be anti-dilutive. It is estimated that the Company will issue approximately ~15,400,000 as a result of conversion of notes. The company also has 2,000,000 in outstanding common stock warrants. Fully diluted weighted average common shares and equivalents were withheld from the calculation as they were considered anti-dilutive.

 

RECLASSIFICATION

 

Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported income, total assets, or stockholders’ equity as previously reported.

 

USE OF ESTIMATES

 

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

 

 
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EMERGING GROWTH COMPANY

 

The Company qualifies as an Emerging Growth Company, thus takes advantage of the 1-year deferral period for the adoption of all new accounting standards updates.

 

NOTE 2 - GOING CONCERN AND PLAN OF OPERATION

 

The Company’s financial statements have been presented on the basis that it will continue as a going concern. The Company has not generated revenues from construction related operations to date. The Company has an Accumulated deficit of $13,375,618 as of March 31, 2022 which raises substantial doubt about the Company’s ability to continue as a going concern.

 

The Company will use additional funds through equity and 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 subsequent current arrangements with respect to, or sources of, such additional financing and the Company does not anticipate that existing shareholders will be required to provide any portion of the Company’s 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, the Company 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 and raise doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that may result from the outcome of this uncertainty.

 

NOTE 3 - RECENT ACCOUNTING PRONOUNCEMENTS

 

Update 2020-06—Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. This was issued in August of 2020 and will become effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. We are in the process of evaluating the impact to the company.

 

NOTE 4 - RELATED PARTY TRANSACTIONS

 

Though the company has established banking credit cards to assist with the normal everyday purchases and payments of corporate needs such as utilities etc., The CEO and other involved parties often use their own cards for this purpose and, to represent this, the company has a continuous Related Party Advances section in its financial statements. This is adjusted typically at the end of each reporting period.

 

As of March 31, 2022, and December 31, 2021 the balance owed to John Sprovieri was $0 and $0 respectively.

 

NOTE 5 - PROPERTY, INVENTORY AND EQUIPMENT

 

Notes to Inventory Type and Value:

 

Inventory consists of Finished Product and Raw Materials that are valued at the lower of cost or market.

 

 
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Raw Materials:

 

Raw materials consist of rebar, insulation, surfactant, powdered cement, threaded inserts and sundry items. The cost is based on the cost of purchase from a non-related supplier. As of March 31, 2022 and December 31, 2021 the inventory value was $6,197 and $6,197 respectively.

 

Property and Equipment at March 31, 2022 were comprised of the following at:

 

 

 

March 31,

2022

 

 

December 31,

2021

 

Capital Equipment

 

$ 80,554

 

 

$ 80,554

 

Vehicles

 

 

6,344

 

 

 

6,344

 

Accumulated Depreciation

 

 

(49,691 )

 

 

(46,705 )

Net Fixed Assets

 

$ 37,207

 

 

$ 40,193

 

 

Depreciation expense for the three months ended March 31, 2022 and 2021 was $2,985 and $2,985 respectively.

 

NOTE 6 - EQUITY

 

Common Stock:

 

During the Period January 1, 2021 to March 31, 2022, the Company issued 130,409 shares for convertible note conversions.

 

On February 22 of 2021 the company performed a 40 for 1 reverse stock split. All share amounts have been adjusted retroactively to reflect the split and adjustments have been made to reflect the par value and adjusted to additional paid in capital.

 

The following table is a list of the foremost 6 shareholders of the Company as of March 31, 2022.

 

NAME ADDRESS

 

Number of Shares

 

1. John Sprovieri PO Box 813, Rufus, OR 97050

 

 

40,675,897

 

2. CEDE & Company 570 Washington Blvd. 5th. Floor, Jersey City, NJ 07310

 

 

2,084,557

 

3. Kathleen D Jett PO Box 846, 618 W. First Street, Rufus, OR 97050.

 

 

6,025,352

 

4. Kimberly Grimm 15011 SE Mt Royale Ct. Milwaukie, OR 97267.

 

 

3,275,120

 

5. Michael Young 4405 H’way 30, The Dalles, OR..

 

 

1,100,000

 

6. William S Beers PO Box 825, Rufus, OR 97058

 

 

1,110,200

 

 

Warrants

 

On May 28, 2019 we issued 2,000,000 in cashless warrants in connection with the issuance of the convertible promissory note dated May 29, 2019 with Crown Bridge Partners, LLC in the amount of $27,500.

 

 

 

 

 

Warrants -

Common

Share

 Equivalents

 

 

Weighted

 Average

Exercise

price

 

 

Warrants exercisable - Common

Share

 Equivalents

 

 

Weighted

Average

Exercise

 price

 

Outstanding December 31, 2020

 

 

 

 

-

 

 

$ -

 

 

 

-

 

 

$ -

 

Additions

 

Granted

 

 

2,000,000

 

 

 

0.30

 

 

 

2,000,000.00

 

 

 

0.30

 

Expired

 

Expired

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

Exercised

 

Exercised

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Outstanding December 31, 2021

 

 

 

 

2,000,000

 

 

$ 0.30

 

 

 

2,000,000

 

 

$ 0.30

 

Additions

 

Granted

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

Expired

 

Expired

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

Exercised

 

Exercised

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Outstanding March 31, 2022

 

 

 

 

2,000,000

 

 

$ 0.30

 

 

 

2,000,000

 

 

$ 0.30

 

 

 
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The warrants contained a down round feature that were triggered during 2020, and the result $12,600 of deemed dividend recognized as a result.

 

NOTE 7 - INCOME TAXES

 

We currently have no current tax liability, as we have had limited revenue and incurred losses since inception.

 

On December 22, 2017 H.R. 1, originally known as the Tax Cuts and Jobs Act, (the “Tax Act”) was enacted. Among the significant changes to the U.S. Internal Revenue Code, the Tax Act lowers the U.S. federal corporate income tax rate (“Federal Tax Rate”) from 35% to 21% effective January 1, 2019. The Company will compute its income tax expense for the year ended December 31, 2022 using a Federal Tax Rate of 21%.

 

Income taxes are provided based upon the liability method of accounting pursuant to ASC 740-10-25 Income Taxes – Recognition. Under this approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end. A valuation allowance is recorded against deferred tax assets if management does not believe the Company has met the “more likely than not” standard required by ASC 740-10-25-5.

 

Deferred income tax amounts reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax reporting purposes.

 

During the Period January 1, 2020 to December 31, 2020 there were 1,250,000 shares issued to these individuals to recompense post-split roll back numbers issued for service compensation to the Company. As a result the company recognized a share based expense of $1,150,000. This amount was eliminated from the net operating loss carry forward

 

As of March 31, 2022, we had a net operating loss carry-forward of approximately $(13,375,618) and a deferred tax asset of approximately $2,808,880 using the statutory rate of 21%. The deferred tax asset may be recognized in future periods, not to exceed 20 years for 2020 and prior and post 2018 are indefinite.

 

However, due to the uncertainty of future events, we have booked valuation allowance of $(2,808,880). FASB ASC 740 prescribes recognition threshold and measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. FASB ASC 740 also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. At December 31, 2021, the Company had not taken any tax positions that would require disclosure under FASB ASC 740.

 

 

 

March 31,

2022

 

 

December 31,

2021

 

Deferred Tax Asset

 

$ 2,808,880

 

 

$ 1,948,124

 

Valuation Allowance

 

 

(2,808,880 )

 

 

(1,948,424 )

Deferred Tax Asset (net)

 

$ -

 

 

$ -

 

 

The Company is subject to tax in the U.S. federal and Washington jurisdictions. These filings are subject to a three-year statute of limitations unless the returns have not been filed at which point the statute of limitations becomes indefinite. No filings are currently under examination. No adjustments have been made to reduce the estimated income tax benefit at year end. Any valuations relating to these income tax provisions will comply with U.S. generally Accepted Accounting principles.

 

 
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NOTE 8 - NOTES PAYABLE AND DERIVATIVE LIABILITIES

 

On February 2, 2018, the company issued a 12-month Convertible Note for the sum of $200,000 to RB Capital at 12%. Convertible at $0.004. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On May 8, 2018, the company issued a 12-month Convertible Note for the sum of $50,000 to RB Capital at 12%. Convertible at $0.004. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On June 28, 2018, the company issued a 12-month Convertible Note for the sum of $10,000 to RB Capital at 12%. Convertible at $0.004. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On December 7, 2018, the company issued a 12-month Convertible Note for the sum of $25,000 to RB Capital at 12%. Convertible at $0.004. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On October 25, 2019, the company issued a 12-month Convertible Note for the sum of $15,000 to RB Capital at 12%. Convertible at $0.01. As a result we recognized a beneficial conversion cost of $45,000.

 

On November 15, 2019, the company issued a 12-month Convertible Note for the sum of $25,000 to RB Capital at 12%. Convertible at $0.01. As a result, we recognized a beneficial conversion cost of $7,500.

 

On December 13, 2019, the company issued a 12-month Convertible Note for the sum of $20,000 to RB Capital at 12%. Convertible at $0.03. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On January 13, 2020, the company issued a 12-month Convertible Note for the sum of $20,000 to RB Capital at 10%. Convertible at $0.10. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On February 10, 2020, the company issued a 12-month Convertible Note for the sum of $25,000 to RB Capital at 10%. Convertible at $0.15. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On April 7, 2020, the company issued a 12-month Convertible Note for the sum of $15,000 to RB Capital at 10%. Convertible at $0.05. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On June 5, 2020, the company issued a 12-month Convertible Note for the sum of $20,000 to RB Capital at 10%. Convertible at $0.10. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On June 25, 2020, the company issued a 12-month Convertible Note for the sum of $30,000 to Shmeul Rotbard at 8%. Convertible at $0.008. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On July 23, 2020, the company issued a 12-month Convertible Note for the sum of $15,000 to RB Capital at 10%. Convertible at $0.05. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On August 17, 2020, the company issued a 12-month Convertible Note for the sum of $50,000 to RB Capital at 10%. Convertible at $0.05. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On November 10, 2020, the company issued a 12-month Convertible Note for the sum of $25,000 to RB Capital at 10%. Convertible at $0.01. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On December 14, 2020, the company issued a 12-month Convertible Note for the sum of $45,000 to RB Capital at 10%. Convertible at $0.01. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

 
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On January 29, 2021, the company issued a 12-month Convertible Note for the sum of $35,000 to RB Capital at 10%. Convertible at $0.01. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On March 16, 2021, the company issued a 12-month Convertible Note for the sum of $50,000 to RB Capital at 10%. Convertible at $0.20. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On May 10, 2021, the company issued a 12-month Convertible Note for the sum of $50,000 to RB Capital at 10%. Convertible at $0.20. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On July 6, 2021, the company issued a 12-month Convertible Note for the sum of $50,000 to RB Capital at 10%. Convertible at $0.10. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On August 16, 2021, the company issued a 12-month Convertible Note for the sum of $50,000 to RB Capital at 10%. Convertible at $0.10. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On March 18, 2022, the company issued a 12-month Convertible Note for the sum of $50,000 to RB Capital at 10%. Convertible at $0.06. No beneficial conversion was recognized as the conversion price was higher than the stock price.

 

On December 28, 2021, the company issued a 12-month Convertible Note for the sum of $38,000 to Sixth Street Lending at 10%. Convertible at 65% of the averaged 3 lowest trading prices during the prior 15 day trading period. We recognized a derivative liability in the amount of $79,868 as a result.

 

As a result of the convertible notes we recognized the embedded derivative liability on the date that the note was convertible. We also revalued the remaining derivative liability on the outstanding note balance on the date of the balance sheet. The inputs used were a weighted volatility of 311% and a risk-free discount rate of 0.09%

 

The convertible notes have interest rates that range from 8% to 12% per annum and default rates that range from 12% to 24% per annum. The maturity dates range from six months to one year. The conversion rates range from 55% discount to the market to 62% discount to the market. As of March 31, 2022, there were twenty-three convertible notes outstanding,

 

The remaining derivative liabilities valued using the level 3 inputs in the fair value hierarchy were:

 

 

 

March 31,

2022

 

 

December 31,

2021

 

Derivative Liabilities on Convertible Loans:

 

 

 

 

 

 

Outstanding Balance

 

 

470,600

 

 

 

295,306

 

 

NOTE 9 - COMMITMENTS

 

The company maintains a month-to-month lease agreement on a 8,000 sq. ft. facility located in outer Goldendale and monthly lease cost is $2,000. The total lease payments for the three months ended March 31, 2022 were $6,000.

 

As of March 31, 2022 the company has not remitted all of the backup withholdings, which could result in material trust-fund penalties from the internal revenue service.

 

NOTE 10 - SUBSEQUENT EVENTS

 

On May 10, 2022 we issued 512,821 share of our common stock for conversion of $10,000 of convertible debt.

  

In accordance with ASC 855, the Company has analyzed its operations subsequent to March 31, 2022 through the date these financial statements were issued, and has determined that there were no material subsequent events to disclose in these financial statements, other than referenced above.

 

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

 

Forward Looking Statements

 

Readers of this discussion are advised that the discussion should be read in conjunction with the financial statements of Registrant (including related notes thereto) appearing elsewhere in this Form 10-Q. Certain statements in this discussion may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect Registrant’s current expectations regarding future results of operations, economic performance, financial condition and achievements of Registrant, and do not relate strictly to historical or current facts. Registrant has tried, wherever possible, to identify these forward-looking statements by using words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or words of similar meaning.

 

Although Registrant believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties, which may cause the actual results to differ materially from those anticipated in the forward-looking statements. Such factors include, but are not limited to, the following: general economic and business conditions, which will, among other things, affect demand for housing, the availability of prospective buyers; adverse changes in Registrant’s real estate and construction market; including, among other things, competition with other manufacturers, risks of real estate development and acquisitions; governmental actions and initiatives; and environmental/safety requirements.

 

Results of Operations

 

During the three-month period ending March 31, 2022 the Company had resumed its operations after a pause in its manufacturing operations due to COVID-19 constraints during the first Quarter of 2021. Since then, the Company has hired an additional (3) employees to better support an increase in production efforts.

 

Recently completed was building site foundation work and manufacturing of all construction panels and purchase of all doors, windows and interior fixtures for a contracted 420 sq. ft. “Tiny Home” design. This model home has been sold to a Real Estate developer whose plans include use of for a time as a display unit on a local building site. This construction project introduced through an extensive area marketing effort have brought inquiries from many interested buyers attracted to building similar homes in the area.

 

Additionally, this quarter the company has entered into an agreement to build two 1,500 square foot homes in the North Western part of Washington State. The building plan design phase is near completion and a goal of beginning site construction work is set for early Spring of 2022.

 

There were no material operational changes from the last financials of December 31, 2021. Revenue for the three months ended March 31, 2022 and 2021 was $0 and $0 respectively.

 

The three-month Quarter ending March 31, 2022 resulted in the issuance of (2) convertible notes for $50,000 and $38,000.

 

Net cash used in operating activities was $69,965 for the three months ended March 31, 2022 compared to net cash used in operating activity of $84,918 for the same period in 2021.

 

Net cash used in investing activities was $0 in the three months ended March 31, 2022, compared to net cash used in investing activity of $0 for the same period in 2021.

 

Net cash provided by financing activities was $82,376 for the three months ended March 31, 2022, compared to $85,000 for same period in 2021.

 

We have had minimal operating activity since inception of the company in 2010. Our 2022 short-term obligations are being covered by funding received from convertible notes. with a total value of $88,000 issued in 2022.

 

 
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As of March 31, 2022, the Company had inadequate cash to operate its business at the current level for the next three months and to achieve its business goals. The success of our business plan during and beyond the next three months will be provided by additional loan financing of a minimum of $300,000.

 

Overview

 

Auscrete Corporation was formed as an enterprise to take advantage of technologies developed for the construction of affordable, thermally efficient and structurally superior housing. This “GREEN” product is the culmination of design and development since the early 1980’s. The current technology is the amalgamation of various material stages of Company development, taking an idea to a product and further developing that product to address an ongoing problem in the world’s largest marketplace, the quest for affordable, efficient and enduring housing.

 

Auscrete’s structures are monetarily very competitive. A turnkey house, ready to move in sells for around $105 per square foot. That is very competitive in today’s market but is brought about by Auscrete’s ability to manufacture

 

large panels in mass production format. The house is very quickly constructed on site to produce an attractive and functional site-built home, a home that will stay where it is put through all kinds of adverse weather and age conditions. It will not burn, is not affected by insect infestation or rot, it saves extensively on energy costs and has very low maintenance needs.

 

Financing

 

Auscrete Corporation, a Wyoming public company was incorporated on December 31, 2009 and initially became effective with the SEC for an IPO on August 16, 2012. The IPO was never exercised and expired.

 

Subsequently the company had an S-1 become Effective on December 30, 2014. This was not an Offering and not used for fundraising.

 

The company has been quoted on the OTCQB Bulletin Board under the symbol “ASCK” since February 2019 and is DWAC registered.

 

Financial Statements in this document represent the full results of the company during the three month period to March 31, 2022. There are no “off balance sheet” arrangements.

 

Marketing

 

Principal marketing efforts will be initially aimed at leveraging specific contacts and relationships that have developed over the last 12 years since the inception of the founders’ pilot plant. The company has interviewed and chosen an experienced sales person who will have the luxury of dealing with existing contacts as well as the multitude of inquiries received every week.

 

Auscrete’s product is also extremely suitable for the construction of commercial and industrial structures. Company marketing will also explore the commercial world for applications and it is believed that such construction will become a large part of the company’s future direction.

 

Operations Management

 

The Auscrete Team will comprise of a minimal tiered management structure that enables control and knowledge to be firmly at the hands of senior management ensuring rapid and simplified direct reporting to action.

 

Under control of the CEO will be marketing, manufacturing operations, design architecture and engineering, administration and safety compliance. Additionally, the Construction Manager will oversee Auscrete’s own construction activities as well as liaise with contractors and developers.

 

 
16

Table of Contents

 

Operations

 

Design and Engineering will prepare new design concepts and adapt customer’s designs, either residential or commercial, to the Auscrete style of construction as well as preparing all drawings for manufacturing on the production floor.

 

The construction manager will be responsible for liaising with contractors, developers and other customers to ensure the satisfactory completion of their contract. As well, the company will have its own construction division that will not conflict with other contractors but will enable the company the ability to carry out construction operations where no alternative exists. The construction manager will also oversee these operations.

 

Future Strategy

 

Auscrete Corporation intends to position itself as a major supplier in the affordable housing market. Housing is generally considered “affordable” when its cost does not exceed 30 percent of the median family income in a given area. In many parts of the country, housing costs have shown signs of adversely affecting corporations, workers and local economies. Yet, still the availability of affordable housing is becoming increasingly scarce.

 

The company is promoting a product that will not only make housing affordable but also offers some luxuries as well, such as incorporated heat pump/air conditioning units that would not be available in other houses at such comparable pricing. By constructing with the Auscrete Building System, those luxuries will result in lower cost utilities and a comfortable ‘feel’ to the living environment, as can be achieved with a product offering excellent thermal and soundproofing qualities as well as superb fire resistance.

 

Developers and contractors will offer the homes as complete ready constructed site-built units on suitable land. They are NOT and will not be offered under the banner of such categories as ‘pre-fabricated’, ‘modular” or ‘factory built’ homes. They are just plain good value masonry homes built of a time proven product, concrete.

 

Although Auscrete can economically deliver whole house panel sets as far away as New Mexico or Alberta, Canada, the Company will concentrate mostly on its home markets here in the Northwest where future growth will be achieved by servicing this fast-emerging market in this above average (for affordable housing) evolving area.

 

The company plans on selling most of its output to developers, contractors and builders who will purchase the complete set of wall, roof and interior panels from Auscrete and use their own construction crews to construct the houses.

 

The Plant’s specialized line equipment installation has been completed with end line product fabrication meeting the Company’s expectations in high construction standards. The Company has made further equipment purchases to support its machine shop which will allow it to build additional much needed casting tables amongst other production plant assets.

 

Housing construction planning is currently in a number of project stages. The Company’s Marketing efforts have recently diversified to also include designs of small dwellings sometimes referred to as “Tiny Homes.” These structures are 80 – 500 square feet housing units built to fill the gap in urban multi-unit homeless transitional housing. This additional new venture in fabrication fits well with Auscrete’s overall model in concrete panel construction for housing and commercial structures.

 

Item 3. Quantitative and Qualitative Disclosures About Market Risk

 

Not required for smaller reporting companies.

 

Item 4. Controls and Procedures

 

(a) Evaluation of Disclosure Controls and Procedures

 

 
17

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Under the supervision and with the participation of our management, our Chief Executive and Financial Officer, we conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as 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 on this evaluation, our Chief Executive and Financial Officer concluded as of September 30st, that our disclosure controls and procedures are not effective such that the information required to be disclosed in our reports filed under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and is accumulated and communicated to our management, including our Chief Executive and Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

 

(b) Changes in internal controls

 

There were no changes in our internal control over financial reporting during the nine months ended March 31, 2022 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

 

 
18

Table of Contents

 

PART II - OTHER INFORMATION

 

Item 1. Legal Proceedings

 

At present, the Company is not engaged in or the subject of any material pending legal proceedings.

 

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

 

None

 

Item 3. Defaults Upon Senior Securities

 

None.

 

Item 4. Mine Safety Disclosures

 

Not applicable.

 

Item 5. Other Information

 

None.

 

 
19

Table of Contents

 

Item 6. Exhibits

 

Number

 

Description

 

 

 

31.1*

 

Certification of Chief Executive Officer Pursuant to Sarbanes-Oxley Section 302

 

 

 

32.1*

 

Certification Pursuant To 18 U.S.C. Section 1350, as adopted 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 as inline XBRL and contained in Exhibit 101).

 

* Filed herewith.

 

 
20

Table of Contents

 

SIGNATURES

 

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

 

 

AUSCRETE CORPORATION

 

 

 

 

 

Date: May 23, 2022

By:

/s/ A. John Sprovieri

 

 

 

A. John Sprovieri

 

 

 

(Chief Executive and Financial Officer)

 

 

 
21

 

 

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