GreenSpace Brands Inc. — Interim / Quarterly Report 2021

Jan 5, 2021

LISTED ON THE TSX VENTURE NEX EXCHANGE - “IDH.H”

25 – 106 - 4480 West Saanich Road, Victoria, B.C., V8Z 3E9

QUARTERLY REPORT DECEMBER 2020

IDG HOLDINGS Inc.

MANAGEMENT DISCUSSION AND ANALYSIS

January 4, 2021

Activities

IDG Holdings Inc sold its principal business activities previously conducted through its subsidiary company Integral Designs, with effect from July 1, 2006. No business operations have been conducted since July 1, 2006, other than investment of available cash resources.

IDG Holdings Inc sold its principal business activities previously conducted through its subsidiarycompany Integral Designs, with effect from July 1, 2006. No business operations have beenconducted since July 1, 2006, other than investment of available cash resources.	IDG Holdings Inc sold its principal business activities previously conducted through its subsidiarycompany Integral Designs, with effect from July 1, 2006. No business operations have beenconducted since July 1, 2006, other than investment of available cash resources.	IDG Holdings Inc sold its principal business activities previously conducted through its subsidiarycompany Integral Designs, with effect from July 1, 2006. No business operations have beenconducted since July 1, 2006, other than investment of available cash resources.	IDG Holdings Inc sold its principal business activities previously conducted through its subsidiarycompany Integral Designs, with effect from July 1, 2006. No business operations have beenconducted since July 1, 2006, other than investment of available cash resources.
Selected Annual Information (in Canadian dollars, prepared under International
Financial Reporting Standards (“IFRS”):
Financial Year Ended	June 2020	June 2019	June 2018
Net income / loss	-38,375	-39,176	-40,512
Net income / loss per share basic and fully diluted	-0.005	-0.005	-0.005
Total assets	449,889	487,801	527,787
Summary of Quarterly Results (in Canadian dollars, prepared under IFRS):
Quarter Ended	Sales	Net Loss	Net Loss
			Per Share
March 2018		-5,975	-0.001
June 2018	-	-18,244	-0.002
September 2018	-	-7,108	-0.001
December 2018	-	-9,937	-0.001
March 2019	-	-3,790	-0.001
June 2019	-	-12,730	-0.002
September 2019	-	-6,615	-0.001
December 2019	-	-7,926	-0.001
March 2020	-	-4,588	-0.001
June 2020	-	-19,246	-0.002
September 2020	-	-7,484	-0.001
December 2020	-	-11,468	-0.001

Results of Operations

Investment income was less than $1,000 for the quarter, compared to $2,000 in the previous year, due to the decline in interest rates in 2020. Operating expenses were $12,000 for the quarter, compared to $10,000 in the previous year, mainly as a result of an increase in the cost of liability insurance. As a result, there was a net loss of $11,000, compared to $8,000 in the previous year. No taxation has been provided as the company is not expected to have taxable income for the full year.

COVID-19

The Company has no employees and does not carry on an active business, so is not exposed to risk from COVID-19.

Transactions with Related Parties

Costs for accounting and administrative services reported in the financial statements comprise amounts paid to director Glynn Jones for statutory record-keeping and financial reporting for the company at less cost than available elsewhere.

Cash Resources

The company had $411,000 in cash at December 31, 2020, which is adequate to keep it operational for the foreseeable future.

Financial Instruments

The company is exposed to credit and interest rate risk as a result of holding financial instruments. This risk is mitigated by holding its cash only with reputable financial institutions and investing for terms of less than 6 months to maturity.

IFRS

The company adopted International Financial Reporting Standards (IFRS) in 2011. The change has not had any significant effect on the company’s business activities, systems, disclosure controls or financial statement disclosure.

Outstanding Shares

There was no change in share capital during the quarter, leaving 8,389,500 shares outstanding at the date of this report.

Directors and Officers

The board is unchanged and comprises: Xen Stefanopoulos, President Glynn Jones, Secretary and Chief Financial Officer Stephen G. Diakow, Chairman of the audit committee Kim Johnson, member of the audit committee

Prospects

The board is continuing to seek a new business venture.

Sedar

Additional information relating to the company is available at www.sedar.com