Volt Carbon Technologies Inc (TORVF)

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Title to mineral property interests
Although the Company has taken steps to verify title to mineral properties in which it has an
interest, these procedures do not guarantee the Company’s title. Such properties may be
subject to prior agreements or transfers and title may be affected by undetected defects.

The Company is in the process of developing mineral properties and developing battery
technology through its wholly-owned subsidiary Solid Ultrabattery Inc. The Company also
generates incidental revenue by processing raw materials through its mill.
To date, the Company has not earned significant revenues and is considered to be in the
exploration stage of mining and development stage for developing the battery technology.

As at July 31, 2022, the Company has incurred a loss from operations of $2,127,717, has a
working capital deficit of $932,982, negative cash flow from operations of $1,642,439 and an
accumulated deficit of $27,705,393. As the Company currently has no significant revenue
generating activity, it is dependent upon obtaining additional equity and debt financing to
fund its research activities and continue as a going concern. During the period, the Company
raised proceeds of $2,500,000 through the issuance of shares through private placement,
$100,000 from the exercise of stock options, $159,188 from the exercise of warrants and
proceeds of $480,000 from debt financing.

https://www.otcmarkets.com/otcapi/company/financial-report/348074/content