Life Electric Vehicles Holdings Inc (LFEV)

[Mr. Zen]

Between August 3, 2022 and November 21, 2022, the Company raised $840,000 in
private placements to support Sierra eLife, Inc.’s operations.
Sierra eLife, Inc. generated $28,061 of revenues during the three months ended
November 30, 2022. In addition, the Company’s balance sheet as of November 30, 2022
reflected other current assets (consisting of approximately $686,000 of Deposits, $275,000 of
Related Party Notes Receivable and $70,000 of Finished Inventory) of $1,031,631.
The Company’s Consolidated Statement of Operations for the fiscal year ended
November 30, 2022 reflects total operating expenses of $309,523. The Company’s financial
statements are consistent with an operating business.
Based on the business conducted by the Company, the Company believes it ceased being
a shell company as of September 2, 2022 and has remained a non-shell company since such date.