Mobio Technologies Inc. — Interim / Quarterly Report 2021

Nov 26, 2021

Mobio Technologies Inc.

Unaudited, Amended and Restated Condensed Consolidated Interim Financial Statements

(EXPRESSED IN CANADIAN DOLLARS)

For the Three and Nine Months Ended April 30, 2021 and 2020

Index

Condensed Consolidated Interim Statements of Financial Position Condensed Consolidated Interim Statements of Comprehensive Loss Condensed Consolidated Interim Statements of Changes in Shareholders' Equity (Deficit) Condensed Consolidated Interim Statements of Cash Flows Notes to Condensed Consolidated Interim Financial Statements

NOTICE TO READER

The Audit Committee, in consultation with management of the Company, has determined that the Company's previously filed unaudited condensed consolidated interim financial statements and management's discussion and analysis for the three and nine months ended April 30, 2021 and 2020 needed to be amended to reflect certain adjustments.

Details of the changes are fully described in Note 13 to the Amended and Restated Unaudited Condensed Consolidated Interim Financial Statements as filed on November 25, 2021.

The previously filed unaudited condensed consolidated interim financial statements and management's discussion and analysis for the financial periods were originally filed by the Company on Sedar on June 21, 2020. Each of the Amended and Restated Unaudited Condensed Consolidated Interim Financial Statements and Revised Management's Discussion and Analysis ("MD&A") replaces and supersedes the respective previously filed unaudited condensed consolidated financial statements and related MD&A.

NOTICE OF NO AUDITOR REVIEW OF AMENDED AND RESTATED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

The Company's auditors have not reviewed or been involved in the preparation of these amended and restated condensed consolidated interim financial statements.

Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the amended and restated condensed consolidated interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.

In accordance with National Instrument 51-102 Section 4.3(3)(a) released by the Canadian Securities Administrators, the Company discloses that its auditors have not reviewed the unaudited amended and restated condensed consolidated interim financial statements in accordance with the standards established by the Chartered Professional Accountants Canada for a review of amended and restated condensed consolidated interim financial statements by an entity's auditor, for the three and nine months ended April 30, 2021 and 2020.

The accompanying amended and restated condensed consolidated interim financial statements of the Company have been prepared by and are the responsibility of the Company's management.

MOBIO TECHNOLOGIES INC.AMENDED AND RESTATED CONDENSED CONSOLIDATED INTERIM STATEMENTS OFFINANCIAL POSITION(Unaudited - Expressed in Canadian dollars)
As at	Note	April 30, 2021	July 31, 2020
ASSETS
Current Assets
Cash		$14,617$	51,070
Accounts receivable	3	27,298	18,011
Deposits and prepaid expenses		19,740	14,409
Non-Current Assets		61,655	83,490
Fixed assets	4	287	448
Investments		-	211,427
Assets from continuing operations		61,942	295,365
Assets held for distribution		-	6,778,580
TOTAL ASSETS		$61,942$	7,073,945
LIABILITIES
Current LiabilitiesAccounts payable and accrued liabilities	5	$145,997$	181,162
Related party loans payableDeferred revenue	6	370,206-	345,898-
		516,203	527,060
Non-Current Liabilities
Term loan payable	7	23,904	20,768
Liabilities from continuing operations		540,107	547,828
Liabilities held for distribution		-	4,426,334
TOTAL LIABILITIES		$540,107$	4,974,162
EQUITY (DEFICIT)Share capital	8	$26,159,313$	25,787,321
Warrant reserves	8	484,773	841,765
Equity portion of debt		72,738	238,722
Share-based payment reserve		72,091	84,722
Deficit		(27,267,080)	(25,995,776)
Equity (deficit) attributable to the shareholders of the Company		(478,165)	956,754
Non-controlling shareholders' interest		-	1,143,029
TOTAL EQUITY (DEFICIT)		(478,165)	2,099,783
TOTAL LIABILITIES AND EQUITY		$61,942$	-7,073,945
Nature of operations and going concern uncertainty	1
Approved on behalf of the board
"Brian O'Neill"	"Laurie Baggio"
		Laurie Baggio, Chief Executive Officer
Brian O'Neill, Director

AMENDED AND RESTATED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE LOSS (Unaudited - Expressed in Canadian dollars)

MOBIO TECHNOLOGIES INC.AMENDED AND RESTATED CONDENSED CONSOLIDATED INTERIM STATEMENTS OFCOMPREHENSIVE LOSS(Unaudited - Expressed in Canadian dollars)
			Three months ended April 30,		Nine months ended April 30,
	Notes	2021	2020		2021	2020
REVENUE
Sales		$7,147	$683	$	11,584$	4,708
EXPENSES
Amortization		99	93		161	324
Hosting and computing services		-	25,992		-	90,251
Personnel		57,901	37,045		166,704	224,576
Professional fees		10,592	16,511		28,370	42,720
Office and administration		6,907	9,242		18,301	18,740
Regulatory and filing costs		8,735	7,859		14,678	12,412
Website and IT		(3,122)	1,597		2,779	5,293
Share-based payments		-	-		-	1,619
Foreign exchange		1	(57)		3,922	272
		81,113	98,282		234,915	396,207
OTHER ITEMS
Interest income		-	(7)		-	(106)
Interest expense		8,996	6,230		27,444	12,703
Other income		21,187	(3,031)		3,492	(3,031)
Loss on deconsolidation of Plank Ventures Ltd.	1	-	-		1,209,217	-
Gain on impaired investment		(13,770)	-		(13,565)	-
		16,413	3,192		1,226,588	9,566
Net loss from continuing operations		$(90,379)	$(100,791)	$	(1,449,919)$	(401,066)
Net loss from discontinued operations		-	(92,095)		-	(457,786)
Net loss and comprehensive loss for the period		$(90,379)	$(192,886)	$	(1,449,919)$	(858,852)
Basic and diluted loss per share	9	$(0.00)	$(0.01)	$	(0.04)$	(0.02)
Weighted average number of common shares
outstanding, basic and diluted	9	38,297,546	38,147,546	38,297,546

AMENDED AND RESTATED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN EQUITY (DEFICIT) (Unaudited - Expressed in Canadian dollars)

								AMENDED AND RESTATED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN EQUITY (DEFICIT)
(Unaudited - Expressed in Canadian dollars)
			Share capital		Reserves
						Share
					Equity	based	Non
	Notes	Number ofshares	Amount	Warrantreserves	portion ofdebt	paymentsreserves	controllinginterest	Deficit	Total
Balance at July 31, 2019		38,147,546	$25,782,356	$846,730	$238,722	$166,215	$(282,323)	$(25,847,814)	$903,886
Share-based payments		-	-	-	-	9,816	-	-	9,816
Expiry of options		-	-	-	-	(90,585)	-	90,585	-
Expiry of warrants		-	4,965	(4,965)	-	-	-	-	-
Loss for the period		-	-	-	-	-	(457,785)	(401,066)	(858,851)
Balance at April 30, 2020		38,147,546	25,787,321	841,765	238,722	85,446	(740,108)	(26,158,295)	54,851
Balance at July 31, 2020		38,147,546	25,787,321	841,765	238,722	84,722	1,143,029	(25,995,776)	2,099,783
Deconsolidation of equityattributable to Plank
Ventures Ltd.	2	-	-	-	(165,984)	(12,631)	(1,143,029)	178,615	(1,143,029)
Shares issued for cash		150,000	15,000	-	-	-	-	-	15,000
Expiry of warrants		-	356,992	(356,992)	-	-	-	-	-
Loss for the period		-	-	-	-	-	-	(1,449,919)	(1,449,919)
Balance at April 30, 2021		38,297,546	$26,159,313	$484,773	$72,738	$72,091	$-	$(27,267,080)	$(478,165)

AMENDED AND RESTATED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS

			AMENDED AND RESTATED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF
Nine months ended April 30,	Note	2021	2020
OPERATING ACTIVITIES
Net loss from continuing operations		$(1,449,919)$	(401,066)
Items not affecting cash:
Amortization		161	324
Accrued interest incomeAccrued interest expense		-27,444	(105)12,703
Share-based payments		-	1,620
Loss on disposal of Plank Ventures Ltd.	1	1,209,217	-
Accounts receivable		(9,287)	(17,033)
Deposits and prepaid expenses		(5,331)	(5,387)
Accounts payable and accrued liabilities		(35,165)	109,500
Net cash used in operating activities of continuing operations		(262,880)	(301,761)
INVESTING ACTIVITIES
Proceeds from sale of investments		-	(36,350)
Sale of investment		211,427	41,882
Return of capital from investment		-	(5,532)
Net cash provided by investing activities		211,427	-
FINANCING ACTIVITIES
Proceeds from related party loans		-	325,000
Advances related party loans		-	(292)
Issuance of common shares		15,000	-
Net cash provided by financing activities of continuing operations		15,000	324,708
Net cash used in operating activities of discontinued operations		-	(159,884)
Net cash used in investing activities of discontinued operations		-	(1,139,578)
Net cash provided by financing activities of discontinued operations		-	1,200,292
Net change in cash, discontinued operations		-	(99,170)
Net change in cash, continuing operations		(36,453)	22,947
Net change in cash, discontinued operations		-	(99,170)
NET CHANGE IN CASH		(36,453)	(76,223)
CASH, BEGINNING OF THE PERIOD		51,070	307,190
CASH, END OF THE PERIOD		$14,617$

1. NATURE OF OPERATIONS AND GOING CONCERN UNCERTAINTY

Mobio Technologies Inc. ("Mobio" or the "Company") was incorporated pursuant to the provisions of the Business Corporations Act (Alberta) on November 19, 1998. Mobio is a public company whose shares are listed on the TSX Venture Exchange under the symbol "MBO". The Company's primary line of business is Strutta.com Media Inc. ("Strutta"), a social promotions platform that allows brands to run contests and sweepstakes across multiple social web channels. In addition, the Company invests in start-up technology companies.

These unaudited, amended and restated condensed consolidated interim financial statements for the three and nine months ended April 30, 2021 and 2020 ("Financial Statements") have been prepared using the going concern assumption, which assumes that the Company will continue in operation for the foreseeable future and be able to realize its assets and discharge its liabilities in the normal course of business. During the period ended April 30, 2021, the Company generated a net loss of $1,449,919 and negative cash flow from operations of $262,880. These conditions raise significant doubt about the Company's ability to continue as a going concern.

The continuing operations of the Company are dependent upon its ability to develop profitable operations in the future and to raise adequate financing, if necessary. The Company has generated operating losses since inception. The application of the going concern concept is dependent on the Company's ability to achieve profitable operations and obtain necessary financing.

There can be no assurance that the Company will be successful in achieving profitability or raising additional cash to finance operations. These conditions indicate the existence of a material uncertainty that may raise doubt about the Company's ability to continue as a going concern. The Financial Statements do not include any adjustments relating to the recoverability of assets and liabilities that might be necessary should the Company be unable to continue as a going concern.

On August 20, 2020, the Company forgave the receivable amount of $6,543,410 owed to it by Plank. As a result of the forgiveness of the debt and disposal of the investment, the Company is no longer exposed to variable returns and therefore, as of August 20, 2020, no longer controls Plank. To account for this, the Company derecognized assets held for distribution totaling $6,778,580, liabilities held for distribution totaling $4,426,334 and the non-controlling interest of $1,143,029 for no consideration, resulting in a reduction to equity attributable to the shareholders of the Company of $1,209,217. This was recorded on August 20, 2020, being the date of distribution.

Since March 2020, several measures have been implemented in Canada and the rest of the world in response to the increased impact from novel coronavirus ("COVID-19"). The Company continues to operate its business at this time. While the impact of COVID-19 is expected to be temporary, the current circumstances are dynamic and the impacts of COVID-19 on business operations, cannot be reasonably estimated at this time. The Company anticipates this could have an adverse impact on its business, results of operations, financial position and cash flows in future periods.

NOTES TO THE AMENDED AND RESTATED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Unaudited - Expressed in Canadian Dollars) Nine Months Ended April 30, 2021 and 2020

2. BASIS OF PRESENTATION

These unaudited, amended and restated condensed consolidated interim financial statements were authorized for issue on November 25, 2021, by the Board of Directors of the Company.

Statement of Compliance

These Financial Statements have been prepared in accordance with IAS 34, Interim Financial Reporting, using accounting policies consistent with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board (IASB). These Financial Statements do not include all of the information required for full annual audited consolidated financial statements and should be read in conjunction with the annual audited consolidated financial statements of the Company for the years ended July 31, 2020, and 2019.

Functional and Presentation Currency

The Financial Statements are presented in Canadian dollars, which is the functional currency of Mobio Technologies Inc.

Basis of Measurement

These Financial Statements have been prepared on a historical cost basis except for financial instruments classified as fair value through profit or loss, which are stated at their fair values. In addition, these consolidated financial statements have been prepared using the accrual basis of accounting.

Use of estimates and judgments

The preparation of the Financial Statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results could differ from those estimates.

Management has applied judgments in the assessment of the Company's ability to continue as a going concern when preparing its Financial Statements for the period ended April 30, 2021. Management prepares the Financial Statements on a going concern basis unless management either intends to liquidate the entity or to cease trading or has no realistic alternative but to do so. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future, which is at least, but is not limited to, twelve months from the end of the reporting period. Management considered a wide range of factors relating to current and expected profitability, current working capital levels, and potential sources of replacement financing.

As a result of the assessment and as described in Note 1 – Nature of Operations and Going Concern Uncertainty, management concluded the going concern basis of accounting is appropriate based on its profit and cash flow forecast and expectations with respect to access to financing for the next twelve months.

Significant estimates and assumptions were used with respect to the impairment of financial and non-financial assets, the fair value of investments, the determination of whether a business combination or an asset acquisition took place in the year and the impairment of goodwill.

Estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.

2. BASIS OF PRESENTATION (CONT'D)

Basis of Consolidation

These Financial Statements consist of Mobio Technologies Inc. and Strutta.Com Media Inc.

Effective August 20, 2020, the Company deconsolidated Plank Ventures Ltd. as a result of the forgiveness of the $6,543,410 receivable from Plank. Accordingly, as of August 20, 2020, the Company is no longer subject to variable returns from Plank. As a result, because of the disposal of Plank, for the periods ending April 30, 2021 and July 31, 2020, the operations of Plank are presented as discontinued operations in the amended and restated condensed consolidated statements of comprehensive loss and as assets and liabilities for distribution on the amended and restated condensed consolidated statements of financial position. The Company's continuing revenue, expenses and changes in cash do not include its discontinued operations related to Plank and its subsidiaries. For the period ending April 30, 2021 and July 31, 2020, operating results of the discontinued operations of Plank are separately reported on the Company's amended and restated condensed consolidated financial statements. April 30, July 31, 2021 2020

3. ACCOUNTS RECEIVABLE

	expenses and changes in cash do not include its discontinued operations related to Plank and its
subsidiaries. For the period ending April 30, 2021 and July 31, 2020, operating results of thediscontinued operations of Plank are separately reported on the Company's amended and restatedcondensed consolidated financial statements.
The Financial Statements at April 30, 2021 and 2020 include the assets, liabilities, revenues andexpenses of the Company's controlled and wholly owned subsidiaries. All inter-company balancesand transactions, including unrealized income and expenses arising from inter-company transactionsare eliminated on consolidation.
	Certain comparative figures have been reclassified to conform to the current period's presentation
ACCOUNTS RECEIVABLE
Accounts receivable consist primarily of amounts due from customers and GST recoverable.Amounts due from customers relate to the operations of Strutta.
Trade receivables	$	20,327$	14,937
GST recoverable		6,971	3,075

4. EQUIPMENT

NOTES TO THE AMENDED AND RESTATED CONDENSED CONSOLIDATED INTERIM
FINANCIAL STATEMENTS(Unaudited - Expressed in Canadian Dollars)
Nine Months Ended April 30, 2021 and 2020
	Computer Equipment
Cost
Balance, July 31, 2020	$7,617
Disposals	(723)
Balance, April 30, 2021	$6,894
Accumulated depreciation
Balance, July 31, 2020	$7,169
Amortization	161
Disposals	(723)
Balance, April 30, 2021	$6,607
Net book value
As at July 31, 2020	$448
As at April 30, 2021	$287
TRADE PAYABLES AND ACCRUALS
	April 30,	July 31,
	2021	2020
Accounts payable	$17,902$	45,477
Accrued liabilities	128,095	135,685
Total Accounts payable and accrued liabilities	$145,997$	181,162

5. TRADE PAYABLES AND ACCRUALS

Accumulated depreciation
Net book value
TRADE PAYABLES AND ACCRUALS
	April 30,2021	July 31,2020
Accounts payable	$17,902$	45,477
Accrued liabilities	128,095	135,685

6. RELATED PARTY LOANS PAYABLE

On August 14, 2019, the Company received a loan in the amount of $25,000 from a company controlled by an officer. The loan is unsecured, due on demand and bears interest at 10% per annum. During the nine months ended April 30, 2021, the Company recorded $1,870 (period ended April 30, 2020 - $1,788) (Note 10) in interest on the loan. The balance of the loan at April 30, 2021 is $29,288.

On August 29, 2019, the Company received a loan in the amount of $100,000 from a company controlled by a significant shareholder. The loan is unsecured, due on demand and bears interest at 10% per annum. During the nine months ended April 30, 2021, the Company recorded $7,479 (period ended April 30, 2020 - $6,740) (Note 10) in interest on the loan. The balance of the loan at April 30, 2021 is $116,740.

6. RELATED PARTY LOANS PAYABLE (CONT'D)

On November 20, 2019, the Company received a loan in the amount of $50,000 from a company controlled by an officer. The loan is unsecured, due on demand and bears interest at 10% per annum. During the nine months ended April 30, 2021, the Company recorded $3,740 (period ended April 30, 2020 - $2,233) (Note 10) in interest on the loan. The balance of the loan at April 30, 2021 is $57,233.

controlled by an officer. The loan is unsecured, due on demand and bears interest at 10% per annum.During the nine months ended April 30, 2021, the Company recorded $3,740 (period ended April 30,2020 - $2,233) (Note 10) in interest on the loan. The balance of the loan at April 30, 2021 is $57,233.
On January 30, 2020, the Company received a loan in the amount of $50,000 from a companycontrolled by an officer. The loan is unsecured, due on demand and bears interest at 10% per annum.During the nine months ended April 30, 2021, the Company recorded $3,740 (period ended April 30,2020 - $1,260) (Note 10) in interest on the loan. The balance of the loan at April 30, 2021 is $56,260.
On April 6, 2020, the Company received a loan in the amount of $100,000 from a company controlled
by an officer. The loan is unsecured, due on demand and bears interest at 10% per annum. Duringthe nine months ended April 30, 2021, the Company recorded $7,479 (period ended April 30, 2020 -$685) (Note 10) in interest on the loan. The balance of the loan at April 30, 2021 is $110,685.
Loan transactions for the nine months ended April 30, 2021 are summarized as follows:
	Liability	Equity
Balance, July 31, 2020	$component2,933,534	$component238,722
Deconsolidation of subsidiary	(2,587,636)	(165,983)
Accrued interest and accretion	24,308	-

7. TERM LOANS PAYABLE

On May 4, 2020 ("disbursement date"), the Company received a loan for gross proceeds of $40,000 under the Canada Emergency Business Account ("CEBA") as part of the Canadian government funded COVID-19 financial assistance programs. The CEBA term loan is due on December 25, 2025. The loan is interest free until December 31, 2022 and bears interest at 5% per annum thereafter. If at least 75% of the loan principal is paid on or before December 31, 2022, the balance of the loan will be forgiven.

The benefit of the government loan received at below market rate of interest is treated as a government grant. The loan was recognized at the fair value of $19,847, using the Company's incremental borrowing rate of 20% per annum. The difference between the initial carrying amount and proceeds received of $20,152 is the value of the grant. During the nine months ended April 30, 2021, the Company recorded interest of $3,136 on the loan (nine months ended April 30, 2020- Nil). The balance of the loan at April 30, 2021 is $23,904 (July 31, 2020 - $20,768).

NOTES TO THE AMENDED AND RESTATED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Unaudited - Expressed in Canadian Dollars)

Nine Months Ended April 30, 2021 and 2020

8. SHARE CAPITAL

Authorized:

• Unlimited number of common shares without par value.
• Unlimited number of preferred shares without par value, non-voting and entitled to such dividends as may be set by the Board of Directors of the Company.

Issued and Outstanding:

• On January 26, 2021, the Company issued 150,000 common shares with a fair value of $0.10 per share, and an aggregate value of $15,000.
• 38,297,546 common shares (July 31, 2020 38,147,546)

Warrants

	dividends as may be set by the Board of Directors of the Company.
Issued and Outstanding:	per share, and an aggregate value of $15,000.		On January 26, 2021, the Company issued 150,000 common shares with a fair value of $0.10
	38,297,546 common shares (July 31, 2020 – 38,147,546)
The Company extended the expiry date of 4,068,750 common share purchase warrants by twelvemonths from August 24, 2020 to August 24, 2021 and extended the expiry date of an aggregate of1,666,670 common share purchase warrants by twelve months in March 26, 2020 to March 22, 2022.
There were no other share purchase warrant transactions for the period ended April 30, 2021 As atApril 30, 2021, the following warrants were issued and exercisable:
	Number ofWarrants		WeightedAverageExercise Price
Balance, July 31, 2020Warrants expired	13,602,086(7,866,666)		0.18-
Balance, April 30, 2021	5,735,420	$	0.30
The weighted average life of the warrants is 0.32 years. As at April 30, 2021, the following warrantswere issued and exercisable:
Number of		Exercise	Expiry
Warrants		Price	Date
1,666,670	$	0.30	March 22, 2022
4,068,750	$	0.30	August 24, 2021

1,666,670	$0.30	March 22, 2022
4,068,750	$0.30	August 24, 2021
5,735,420

Stock Options

Under the Company's stock option plan, options may be granted to directors, officers, employees and consultants of the Company. Options expire between two and five years after being issued or thirty days after an optionee ceases to be engaged in a bona fide manner with the Company. The Board of Directors has the discretion to extend the expiration period on cessation of engagement. The maximum number of common shares authorized for issuance by the Board of Directors under the plan is limited to 10% of the total issued and outstanding common shares of the Company and the aggregate number of common shares to be delivered upon exercise of the options to any one individual granted under the plan may not exceed 5% of the common shares issued and outstanding.

There were no other stock option transactions for the period ended April 30, 2021.

MOBIO TECHNOLOGIES INC. NOTES TO THE AMENDED AND RESTATED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Unaudited - Expressed in Canadian Dollars) Nine Months Ended April 30, 2021 and 2020 Outstanding Exercisable Exercise Expiry (#) (#) Price ($) Date

8. SHARE CAPITAL (CONT'D)

362,500	362,500	0.22	19-Jan-28

9. LOSS PER SHARE

The weighted average life of the options is 6.726 years.
As at April 30, 2021 the following stock options were issued and exercisable:
362,500	362,500	0.22		19-Jan-28
LOSS PER SHARE
The basic loss per common share is calculated using the weighted average number of common sharesoutstanding during the period. Any warrants and stock options outstanding as at April 30, 2021 and2020 have not been included in the calculation of diluted loss per common share as the effect of theirinclusion would be anti-dilutive.
Loss Per Share Calculation		Weighted Average
		Shares Outstanding	Net Loss	Loss Per Share
Nine months ended April 30, 2020		38,147,546$	(858,852)	$(0.02)
Nine months ended April 30, 2021		38,297,546$	(1,449,919)	$(0.04)
RELATED PARTY TRANSACTIONS
Payments to key management and directors during the periods ended April 30, 2021 and 2020 wereas follows:

10. RELATED PARTY TRANSACTIONS

The basic loss per common share is calculated using the weighted average number of common sharesoutstanding during the period. Any warrants and stock options outstanding as at April 30, 2021 and2020 have not been included in the calculation of diluted loss per common share as the effect of theirinclusion would be anti-dilutive.Loss Per Share CalculationWeighted AverageShares Outstanding
as follows:Nine months ended April 30,20212020
Management fees paid to current and former directors and/or officers, orto companies controlled by directors and/or officers$27,523$52,500
Total compensation$27,523$52,500
Fees paid to directors and officers are included in the line item "Personnel" in the Company'samended and restated condensed consolidated interim statements of comprehensive loss.Interest and accretion recorded on related party loans is as follows:
Nine months ended April 30,20212020
Interest and accretion on loans payable to companies with acommon director and officer or to companies controlled by

Interest and accretion on loans payable to companies with a
common director and officer or to companies controlled by
directors and/or officers or by significant shareholders	$24,308	$6,473

NOTES TO THE AMENDED AND RESTATED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Unaudited - Expressed in Canadian Dollars) Nine Months Ended April 30, 2021 and 2020

11. FINANCIAL INSTRUMENTS

The Company's financial instruments consist of cash, accounts receivable, investments, related party loans payable, and accounts payable and accrued liabilities. As at April 30, 2021, there were no significant differences between the carrying amounts of these items and their estimated fair values.

Fair Value

Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy based on the degree to which the inputs used to determine the fair value are observable.

The three levels of the fair value hierarchy are:

• Level 1 quoted prices (unadjusted) in active markets for identical assets or liabilities;
• Level 2 inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly; and
• Level 3 inputs for the asset or liability that are not based on observable market data (unobservable inputs).

As of April 30, 2021, cash and restricted cash are classified as Level 1 and investments are classified as Level 3.

The Board of Directors approves and monitors the risk management processes. The Company has exposure to the following risks from its use of financial instruments:

• Interest rate risk
• Credit risk
• Liquidity risk
• Market risk
• Currency risk

Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market interest rates. The Company manages its financial instruments with the objective of minimizing potential interest rate risk, which generally means avoiding interestbearing obligations other than in unusual circumstances. The Company is not exposed to significant interest rate risk.

Credit Risk

Credit risk is the risk of potential loss to the Company if the counter party to a financial instrument fails to meet its contractual obligations. The credit risk of the Company is associated with cash, restricted cash, and accounts receivable. Management believes that the credit risk with respect to cash and restricted cash is minimal as balances are held with a high-credit quality financial institution. Accounts receivable have historically been subject to very few bad debts.

Liquidity Risk

The Company's exposure to liquidity risk is dependent on the collection of accounts receivable, purchasing commitments and obligations or raising funds to sustain operations. The Company controls liquidity risk by management of working capital and cash flows. The Company's ability to meet its future obligations may depend in significant part on the extent to which the Company can raise sufficient funds or implement successfully its business growth and cost reduction strategies. The Company cannot provide any assurance that it will be able to implement its strategy fully or that the anticipated results of its strategy will be realized.

NOTES TO THE AMENDED AND RESTATED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Unaudited - Expressed in Canadian Dollars) Nine Months Ended April 30, 2021 and 2020

11. FINANCIAL INSTRUMENTS (CONT'D)

Market Risk

The Company's exposure to financial market risk is limited, as it presently does not have any investments where value fluctuates as a result of changes in prices quoted in open markets.

Currency risk

Currency risk is the risk that the fair values of future cash flows of a financial instrument will fluctuate because they are denominated in currencies that differ from the respective functional currency. The Company's reporting currency is Canadian dollars and has not entered into any derivative instruments to manage foreign exchange fluctuations.

12. CAPITAL MANAGEMENT

The Company defines capital as an aggregate of cash, common shares, warrants and stock options. The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. The Company targets to meet this objective by managing working capital to provide for the possibility that cash flows from assets will not be sufficient to meet future cash flow requirements in the near term. The Board of Directors does not establish quantitative return on capital criteria for management. In recent years, the Company has relied on funds generated through the issuance of common shares and loans to supplement funds generated from operations.

13. AMENDMENT

Subsequent to the issuance of the Company's unaudited condensed consolidated interim financial statements for the three and nine months ended April 30, 2021 and 2020, management had determined that these unaudited condensed consolidated interim financial statements needed to be amended to reflected certain adjustments. The amendments and restatements include an adjustment to reverse the amount of debt cancellation and forgiveness previously recognized of $6,543,410 along with the loss on disposal of investment of $536,521 and to recognize a loss on deconsolidation of Plank Ventures Ltd. of $1,209,217. Disclosures in Notes 1, 2 and 9 have been updated to reflect these changes. Furthermore, we amended the presentation of the equity section in the Statement of Financial Position to align the July 31, 2020 comparative period with the audited July 31, 2020 results. As at July 31 2020 July 31 2020

Unaudited Interim Consolidated Statements of Financial Position

Subsequent to the issuance of the Company's unaudited condensed consolidated interim financialstatements for the three and nine months ended April 30, 2021 and 2020, management haddetermined that these unaudited condensed consolidated interim financial statements needed to beamended to reflected certain adjustments. The amendments and restatements include an adjustmentto reverse the amount of debt cancellation and forgiveness previously recognized of $6,543,410 alongwith the loss on disposal of investment of $536,521 and to recognize a loss on deconsolidation ofPlank Ventures Ltd. of $1,209,217. Disclosures in Notes 1, 2 and 9 have been updated to reflect thesechanges. Furthermore, we amended the presentation of the equity section in the Statement ofFinancial Position to align the July 31, 2020 comparative period with the audited July 31, 2020 results.
	Unaudited Interim Consolidated Statements of Financial Position
					As Previously
			As Amended		Reported
	As at		July 31 2020		July 31 2020
	Equity
	Accumulated other comprehensive loss	$	-	$	(30,402)
	Equity attributable to the shareholders of the Company		956,754		926,352
	Interest of shareholders of Plank Ventures Ltd.		-		(71,995)

Unaudited Interim Consolidated Statements of Comprehensive Loss

MOBIO TECHNOLOGIES INC.NOTES TO THE AMENDED AND RESTATED CONDENSED CONSOLIDATED INTERIMFINANCIAL STATEMENTS(Unaudited - Expressed in Canadian Dollars)Nine Months Ended April 30, 2021 and 2020
Unaudited Interim Consolidated Statements of Comprehensive Loss		As Amended	As Previously
		Nine months ended	ended
		April 30, 2021	April 30, 2021
Other items
Debt cancellation and foregiveness	$	-$	6,543,410
Loss on disposal of investment		-	536,521
Loss on deconsolidation of Plank Ventures Ltd.		1,209,217	-
Total other items		1,226,588	7,097,302
Net loss from continuing operations		(1,449,919)	(7,320,633)
Net loss and comprehensive loss for the period		(1,449,919)	(7,320,633)
Basic and diluted loss per share	$	(0.04)$	(0.19)
Unaudited Interim Consolidated Statements of Changes in Equity
		As PreviouslyReported DeficitAs Amended Total	As PreviouslyReported Total
	As Amended DeficitApril 30, 2021	April 30, 2021April 30, 2021	April 30, 2021

Unaudited Interim Consolidated Statements of Changes in Equity

	As Previously	As Previously
As Amended Deficit		Reported Total

Unaudited Interim Consolidated Statements of Cash Flows

	As Amended Deficit	As Previously			As PreviouslyReported Total
Unaudited Interim Consolidated Statements of Cash Flows
				As Previously
		As Amended		Reported
		Nine months		Nine months
		ended		ended
		April 30, 2021		April 30, 2021
Operating activities
Net loss from continuting operations		$(1,449,919)	$	(7,320,633)
Debt cancellation and forgiveness			-	6,543,410
Loss on disposal of Plank Ventures Ltd.		1,209,217			-
Net cash used in operating activities of continuing operations		(262,880)		(799,401)
Investing activities			-	536,521
Loss on disposal of investmentNet cash provided by investing activities		$211,427	$	747,948