Perpetual Industries Inc (PRPI)

[MWM]

1. Nature of operations
Perpetual Industries Inc. (the “Company”) was incorporated under the laws of Nevada in January 2005. The Company coordinates
research and development activities aimed at bringing new technology to market. The Company's primary focus was researching and
developing a proprietary technology known as The XYO Mechanical Balancing Technology (“XYO”). The Company developed and
designed XYO to eliminate vibration on rotating equipment in numerous industries to create energy efficient, environmentally
responsible products.
The Company’s attempts to commercialize the XYO Technology through joint ventures and licensing arrangements did not materialize.
During 2017, the Directors of Perpetual decided to re-evaluate the marketing and revenue models of the company and concluded that a
new approach was necessary. A decision was made to diversify the company’s revenue stream and allow for addition of new revenue
streams.
At present, the company is expanding its expertise and knowledge of energy efficient technology into developing low cost, green energy
powered solutions for a variety of industries including renewable energy, blockchain mining, artificial intelligence, graphic rendering,
and cloud computing.