0001058330
2013-03-31
0001058330
2012-12-31
0001058330
2013-01-01
2013-03-31
0001058330
2012-01-01
2012-03-31
0001058330
2010-12-31
0001058330
us-gaap:CommonStockMember
2013-01-01
2013-03-31
0001058330
us-gaap:CommonStockMember
2010-12-31
0001058330
us-gaap:CommonStockMember
2012-12-31
0001058330
us-gaap:CommonStockMember
2013-03-31
0001058330
us-gaap:PreferredStockMember
2013-01-01
2013-03-31
0001058330
us-gaap:PreferredStockMember
2012-12-31
0001058330
us-gaap:PreferredStockMember
2013-03-31
0001058330
us-gaap:AdditionalPaidInCapitalMember
2013-01-01
2013-03-31
0001058330
us-gaap:AdditionalPaidInCapitalMember
2010-12-31
0001058330
us-gaap:AdditionalPaidInCapitalMember
2012-12-31
0001058330
us-gaap:AdditionalPaidInCapitalMember
2013-03-31
0001058330
us-gaap:TreasuryStockMember
2013-01-01
2013-03-31
0001058330
us-gaap:TreasuryStockMember
2012-12-31
0001058330
us-gaap:TreasuryStockMember
2013-03-31
0001058330
us-gaap:RetainedEarningsMember
2013-01-01
2013-03-31
0001058330
us-gaap:RetainedEarningsMember
2010-12-31
0001058330
us-gaap:RetainedEarningsMember
2012-12-31
0001058330
us-gaap:RetainedEarningsMember
2013-03-31
0001058330
us-gaap:MinimumMember
2013-01-01
2013-03-31
0001058330
us-gaap:MaximumMember
2013-01-01
2013-03-31
0001058330
STKO:AnthusLifeCorporationMember
2011-07-19
2011-07-22
0001058330
2013-05-15
0001058330
us-gaap:SeriesAPreferredStockMember
2013-03-31
0001058330
us-gaap:SeriesBPreferredStockMember
2013-03-31
0001058330
us-gaap:SeriesCPreferredStockMember
2013-03-31
0001058330
us-gaap:DeferredCompensationShareBasedPaymentsMember
2012-12-31
0001058330
us-gaap:DeferredCompensationShareBasedPaymentsMember
2013-01-01
2013-03-31
0001058330
us-gaap:DeferredCompensationShareBasedPaymentsMember
2013-03-31
0001058330
STKO:IronridgeGlobalMember
2013-01-01
2013-03-31
0001058330
us-gaap:CommonStockMember
2011-01-01
2011-12-31
0001058330
us-gaap:CommonStockMember
2012-01-01
2012-12-31
0001058330
us-gaap:CommonStockMember
2011-12-31
0001058330
us-gaap:PreferredStockMember
2011-01-01
2011-12-31
0001058330
us-gaap:PreferredStockMember
2012-01-01
2012-12-31
0001058330
us-gaap:PreferredStockMember
2011-12-31
0001058330
us-gaap:AdditionalPaidInCapitalMember
2011-01-01
2011-12-31
0001058330
us-gaap:AdditionalPaidInCapitalMember
2012-01-01
2012-12-31
0001058330
us-gaap:AdditionalPaidInCapitalMember
2011-12-31
0001058330
us-gaap:TreasuryStockMember
2011-01-01
2011-12-31
0001058330
us-gaap:TreasuryStockMember
2012-01-01
2012-12-31
0001058330
us-gaap:TreasuryStockMember
2011-12-31
0001058330
us-gaap:DeferredCompensationShareBasedPaymentsMember
2011-01-01
2011-12-31
0001058330
us-gaap:DeferredCompensationShareBasedPaymentsMember
2011-12-31
0001058330
us-gaap:RetainedEarningsMember
2011-01-01
2011-12-31
0001058330
us-gaap:RetainedEarningsMember
2012-01-01
2012-12-31
0001058330
us-gaap:RetainedEarningsMember
2011-12-31
0001058330
2011-01-01
2011-12-31
0001058330
2012-01-01
2012-12-31
0001058330
2011-12-31
0001058330
us-gaap:SeriesCPreferredStockMember
2013-01-01
2013-03-31
0001058330
STKO:NotesPayableOneMember
2013-03-31
0001058330
STKO:NotesPayableTwoMember
2013-03-31
0001058330
2013-04-16
0001058330
2013-05-06
0001058330
2013-04-14
2013-04-16
0001058330
2013-04-14
2013-04-17
0001058330
2013-04-14
2013-04-19
0001058330
2013-05-04
2013-05-06
0001058330
2013-05-04
2013-05-08
0001058330
2012-03-31
0001058330
STKO:NotesPayableThirdMember
2013-03-31
0001058330
STKO:NotesPayableFourthMember
2013-03-31
0001058330
STKO:NotesPayableFifthMember
2013-03-31
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
xbrli:pure
FRESH PROMISE FOODS, INC.
0001058330
2013-03-31
true
--12-31
Yes
Smaller Reporting Company
Q1
2013
3508888889
3
3
0.00001
0.00001
0.00001
100000000
10
30000000
-233824
-847557
-233824
-1324741
-5384983
-1324741
-5384983
10-Q
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 9 – SUBSEQUENT EVENTS</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 16, 2013 the Company issued a convertible
note for $27,500. The note bears interest at 8% and matures within a year.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 17, 2013 the Company issued 101,666,667
shares of common stock for partial conversion of a note payable.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 19, 2013 the Company issued 101,666,667
shares of common stock for partial conversion of a note payable.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May 6, 2013 the Company issued a convertible
note for $22,500. The note bears interest at 8% and matures within a year.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May 8, 2013 the Company issued 148,888,889
shares of common stock for partial conversion of a note payable.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">As reported in our April 22, 2013 8K filing, the Company appointed
Kevin P. Quirk President and Chief Executive Officer of the Company. He was also appointed as a member of the Board of Directors.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In accordance with ASC 855-10, the Company
has analyzed its operations subsequent to March 31, 2013 through the date these financial statements were issued and has determined
that it does not have any material subsequent events to disclose in these financial statements other than the events described
above.</p>
0.08
0.08
0.12
0.12
0.12
225698106
300000000
4450000
1650000
2000
3290000
3290000
5000
5000
3289
325711
329000
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 7 – GOING CONCERN</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying consolidated financial statements
have been prepared in conformity with generally accepted accounting principle, which contemplate continuation of the Company as
a going concern.  However, the Company had limited revenues as of March 31, 2013.  The Company currently has
a working capital deficit, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating
costs over an extended period of time.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management anticipates that the Company will
be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position
itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there
are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue
as a going concern.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 8 – INCOME TAXES</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of March 31, 2013, the Company had
net operating loss carry forwards of approximately $7,100,000 that may be available to reduce our tax liability in future
years. We estimate the benefits of this loss carry forward at $2,461,000 if the Company produces sufficient taxable income.
No adjustment to the financial statements have been recorded for this potential tax benefit.</p>
0.00
-0.04
-233824
-847557
<p style="margin: 0pt"></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>NOTE
4 – NOTES PAYABLE</b></font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The
Company issued five promissory notes during the three month period ended March 31, 2013. The first note for $10,500 is convertible
into common stock of the Company 180 days after the date of the note at a discount of 45% for the lowest three trading prices
for the stock during the ten day period ending on the latest complete trading day prior to the conversion date. The note bears
interest at 8%, is unsecured, and matures in one year. The second note for $45,000, issued for legal services, is due on demand
and bears no interest. The third, fourth, and fifth notes were<b> </b>issued to a service provider and total $109,500. These
notes bear interest at 12%, are due on demand, and may be converted into common stock of the Company using the following formula:
(Face amount of note plus accrued interest to be converted) divided by (the average five day closing bid price of the Company’s
common stock for the five days immediately prior to the conversion request date) multiplied by (three). (Conversion amount/ (average
price x three) ). These three notes were not recorded timely by the prior management and, when discovered, caused the current
management to amend this Form 10-Q report.</font></p>
17422000
27500
22500
<p style="margin: 0pt"></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><b>NOTE 5 – STOCK</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has 4,000,000,000 shares
of common stock authorized with a par value of $0.00001, 100,000,000 shares of Series A Preferred stock with a par value of $0.00001,
10 shares of Series B Preferred stock with a par value of $0.00001, and 30,000,000 shares of Series C Preferred stock with a par
value of $0.00001.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three month period ended
March 31, 2013, the Company issued 662,364,772 shares of common stock. This included 225,698,106 shares to service providers,
300,000,000 due under our financing agreement with IronRidge Global, and 136,666,666 in conjunction with the conversion of a note
payable. The company also cancelled 900,000,000 shares of common stock returned to the Company by the former CEO and made an adjustment
to its records, reducing common shares outstanding by 1,500,000 shares, correcting a clerical error made previously. The Company
terminated two consulting agreements and cancelled 35,000 shares of Series C Preferred stock. The Company also sold 2,000 shares
of Series C Preferred stock at $2.50 per share to an investor.</p>
17422
29688
47110
9715000
<p style="margin: 0pt"></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><b>NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Nature of Business</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="background-color: white">Stakool,
Inc. f/k/a Mod Hospitality, Inc. (<i>“the Company” or “Stakool”</i>) was incorporated in the State of Delaware
in 1993. In 1997, the Company changed its Corporate Charter to the State of Nevada. </font>On July 22, 2011, Stakool
entered into an agreement of Purchase and Sale with Anthus Life Corp. (“Anthus”) where Anthus acquired 74,834,313 of
the issued and outstanding shares of Stakool. Anthus operates as a wholly owned subsidiary of Stakool.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Anthus Life Corp. was incorporated in
Nevada on June 4, 2009. Anthus is a developer and manufacturer of natural and organic food products packaged for consumer consumption.  The
company has one product line in the natural food category currently, and will deploy several additional product lines fostering
rapid growth in retail accounts, consumer exposure and revenue.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Accounting Basis</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company uses the accrual basis of
accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The
Company has adopted a December 31 fiscal year end.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Basis of Presentation</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying unaudited interim consolidated
financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America
and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited
financial statements and notes thereto contained in the Company’s Form 10-K filed with the SEC as of and for the year ended
December 31, 2012. In the opinion of management, all adjustments necessary for the financial statements to be not misleading for
the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative
of the results to be expected for the full year.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Principles of Consolidation</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The consolidated financial statements
include the financial statements of the Stakool, Inc. and its wholly-owned subsidiary Anthus Life Corp. All significant inter-company
balances and transactions within the Company and subsidiary have been eliminated upon consolidation.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Reclassifications</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Certain accounts and financial statement
captions in the prior periods have been reclassified to conform to the current period financial statements.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Cash and Cash Equivalents</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Stakool considers all highly liquid
investments with maturities of three months or less to be cash equivalents.  At March 31, 2013 and December 31, 2012,
the Company had $20 and $338 of cash, respectively.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Inventories</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Inventories consist of natural and organic
food products, wrappers and boxes, and are stated at the lower of cost or market. Cost is determined on the average cost method.
Inventories are reviewed and reconciled periodically.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Fair Value of Financial Instruments</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s financial instruments
consist of cash and cash equivalents, accounts payable, other liabilities, accrued interest, notes payable, and an amount due to
a related party. The carrying amount of these financial instruments approximates fair value due either to length of maturity or
interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Income Taxes</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Income taxes are computed using the
asset and liability method.  Under the asset and liability method, deferred income tax assets and liabilities are determined
based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently
enacted tax rates and laws.  A valuation allowance is provided for the amount of deferred tax assets that, based on available
evidence, are not expected to be realized.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Use of Estimates</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements
in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements
and the reported amount of revenues and expenses during the reporting period.  Actual results could differ from those
estimates.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Accounts Receivable</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s receivables consist
of billings to customers for products invoiced and shipped. The Company charges off receivables if they determine that the amount
is no longer collectible. The Company has not recorded any allowance for bad debts due to the limited sale of our products.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Property and Equipment</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The capital assets are being depreciated
over their estimated useful lives, three to seven years using the straight-line method of depreciation for book purposes.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Revenue Recognition</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recognizes revenue when
products are fully delivered or services have been provided and collection is reasonably assured.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Concentration of Credit Risks</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company maintains its cash and cash
equivalents in bank deposit accounts, which could, at times, exceed federally insured limits.  The Company has not experienced
any losses in such accounts; however, amounts in excess of the federally insured limit may be at risk if the bank experiences financial
difficulties.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Basic Income (Loss) Per Share</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Basic income (loss) per share is calculated
by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during
the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders
by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding
is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. At March 31, 2013 the Company had
a convertible note outstanding that could be converted into 220,909,091 common shares. These are not presented in the statement
of operations since the company incurred a loss and the effect of these shares is anti-dilutive.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Stock-Based Compensation</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Stock-based compensation is accounted
for at fair value in accordance with ASC Topic 718.  The Company did not issue any shares of common stock to management
during the period ended March 31, 2012. There was $761,063 of stock-based compensation in the three months ended March 31, 2012.
The Company did issued 225,698,106 common shares to service providers during the three months ended March 31, 2013. In addition
the Company cancelled 35,879 shares of its Preferred C shares in conjunction with the termination of consulting contracts. The
Company also cancelled 900,000,000 common shares returned to the Company by its former CEO. To date, the Company has not adopted
a stock option plan and has not granted any stock options.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Recent Accounting Pronouncements</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Stakool does not expect the adoption
of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial
position or cash flow.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><b>NOTE 3 – PROPERTY AND EQUIPMENT</b></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Property and equipment is recorded at
cost. The Company depreciates the equipment using the straight-line method over the useful lives of the equipment. The useful lives
are estimated to be between 3 and 7 years.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Property and equipment consisted of
the following at March 31, 2013 and December 31, 2012:</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="line-height: 115%"> </td>
<td style="line-height: 115%"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">March 31, 2013</font></td>
<td style="line-height: 115%"> </td>
<td style="line-height: 115%"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">December 31, 2012</font></td>
<td style="line-height: 115%"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFE">
<td style="width: 62%; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">Furniture and fixtures</font></td>
<td style="width: 1%; line-height: 115%"> </td>
<td style="width: 1%; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">$</font></td>
<td style="width: 16%; text-align: right; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">1,334</font></td>
<td style="width: 1%; line-height: 115%"> </td>
<td style="width: 1%; line-height: 115%"> </td>
<td style="width: 1%; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">$</font></td>
<td style="width: 16%; text-align: right; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">1,334</font></td>
<td style="width: 1%; line-height: 115%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">Equipment</font></td>
<td style="line-height: 115%"> </td>
<td style="border-bottom: black 1.5pt solid; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">$</font></td>
<td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">507</font></td>
<td style="line-height: 115%"> </td>
<td style="line-height: 115%"> </td>
<td style="border-bottom: black 1.5pt solid; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">$</font></td>
<td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">507</font></td>
<td style="line-height: 115%"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFE">
<td style="line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">Total property and equipment</font></td>
<td style="line-height: 115%"> </td>
<td style="line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">$</font></td>
<td style="text-align: right; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">1,841</font></td>
<td style="line-height: 115%"> </td>
<td style="line-height: 115%"> </td>
<td style="line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">$</font></td>
<td style="text-align: right; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">1,841</font></td>
<td style="line-height: 115%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">Less: Accumulated depreciation</font></td>
<td style="line-height: 115%"> </td>
<td style="border-bottom: black 1.5pt solid; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">$</font></td>
<td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">(1,113</font></td>
<td style="line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">)</font></td>
<td style="line-height: 115%"> </td>
<td style="border-bottom: black 1.5pt solid; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">$</font></td>
<td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">(1,013</font></td>
<td style="line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFE">
<td style="line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">Property and equipment, net</font></td>
<td style="line-height: 115%"> </td>
<td style="line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">$</font></td>
<td style="text-align: right; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">728</font></td>
<td style="line-height: 115%"> </td>
<td style="line-height: 115%"> </td>
<td style="line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">$</font></td>
<td style="text-align: right; line-height: 115%"><font style="font: 10pt Times New Roman, Times, Serif; color: black">828</font></td>
<td style="line-height: 115%"> </td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Accounting Basis</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company uses the accrual basis of accounting
and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company
has adopted a December 31 fiscal year end.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Principles of Consolidation</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The consolidated financial statements include
the financial statements of the Stakool, Inc. and its wholly-owned subsidiary Anthus Life Corp. All significant inter-company
balances and transactions within the Company and subsidiary have been eliminated upon consolidation.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Cash and Cash Equivalents</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Stakool considers all highly liquid investments
with maturities of three months or less to be cash equivalents.  At March 31, 2013 and December 31, 2012, the Company
had $20 and $338 of cash, respectively.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Fair Value of Financial Instruments</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s financial instruments
consist of cash and cash equivalents, accounts payable, other liabilities, accrued interest, notes payable, and an amount due
to a related party. The carrying amount of these financial instruments approximates fair value due either to length of maturity
or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Use of Estimates</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in
conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements
and the reported amount of revenues and expenses during the reporting period.  Actual results could differ from those
estimates.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Inventories</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Inventories consist of natural and organic
food products, wrappers and boxes, and are stated at the lower of cost or market. Cost is determined on the average cost method.
Inventories are reviewed and reconciled periodically.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Accounts Receivable</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s receivables consist of
billings to customers for products invoiced and shipped. The Company charges off receivables if they determine that the amount
is no longer collectible. The Company has not recorded any allowance for bad debts due to the limited sale of our products.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Property and Equipment</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The capital assets are being depreciated over
their estimated useful lives, three to seven years using the straight-line method of depreciation for book purposes.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Basic Income (Loss) Per Share</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Basic income (loss) per share is calculated
by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during
the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders
by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding
is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. At March 31, 2013 the Company had
a convertible note outstanding that could be converted into 220,909,091 common shares. These are not presented in the statement
of operations since the company incurred a loss and the effect of these shares is anti-dilutive.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Revenue Recognition</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recognizes revenue when products
are fully delivered or services have been provided and collection is reasonably assured.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><u>Stock-Based Compensation</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Stock-based compensation is accounted
for at fair value in accordance with ASC Topic 718.  The Company did not issue any shares of common stock to management
during the period ended March 31, 2012. There was $761,063 of stock-based compensation in the three months ended March 31, 2012.
The Company did issued 225,698,106 common shares to service providers during the three months ended March 31, 2013. In addition
the Company cancelled 35,879 shares of its Preferred C shares in conjunction with the termination of consulting contracts. The
Company also cancelled 900,000,000 common shares returned to the Company by its former CEO. To date, the Company has not adopted
a stock option plan and has not granted any stock options.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Recent Accounting Pronouncements</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Stakool does not expect the adoption of recently
issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position
or cash flow.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Property and equipment consisted of the following
at March 31, 2013 and December 31, 2012:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; color: black">March 31, 2013</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; color: black">December 31, 2012</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFE">
<td style="width: 62%"><font style="font-family: Times New Roman, Times, Serif; color: black">Furniture and fixtures</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif; color: black">$</font></td>
<td style="width: 16%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; color: black">1,334</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif; color: black">$</font></td>
<td style="width: 16%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; color: black">1,334</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif; color: black">Equipment</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"><font style="font-family: Times New Roman, Times, Serif; color: black">$</font></td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; color: black">507</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"><font style="font-family: Times New Roman, Times, Serif; color: black">$</font></td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; color: black">507</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFE">
<td><font style="font-family: Times New Roman, Times, Serif; color: black">Total property and equipment</font></td>
<td> </td>
<td><font style="font-family: Times New Roman, Times, Serif; color: black">$</font></td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; color: black">1,841</font></td>
<td> </td>
<td> </td>
<td><font style="font-family: Times New Roman, Times, Serif; color: black">$</font></td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; color: black">1,841</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif; color: black">Less: Accumulated depreciation</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"><font style="font-family: Times New Roman, Times, Serif; color: black">$</font></td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; color: black">(1,113</font></td>
<td style="padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif; color: black">)</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"><font style="font-family: Times New Roman, Times, Serif; color: black">$</font></td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; color: black">(1,013</font></td>
<td style="padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif; color: black">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFE">
<td><font style="font-family: Times New Roman, Times, Serif; color: black">Property and equipment, net</font></td>
<td> </td>
<td><font style="font-family: Times New Roman, Times, Serif; color: black">$</font></td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; color: black">728</font></td>
<td> </td>
<td> </td>
<td><font style="font-family: Times New Roman, Times, Serif; color: black">$</font></td>
<td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; color: black">828</font></td>
<td> </td></tr>
</table>
<p style="margin: 0pt"></p>
P3Y
P7Y
1334
1334
1113
1013
0.08
0.08
2448
2866
1700
1700
728
828
20
338
20
338
15560
15017
795962
665321
253318
295318
6000
6000
29954
242717
102013
-22500
144
144
258830
259395
4999
2451
2448
2866
-7203251
-6969422
6378304
6296248
-68
-208
31362
33008
-618
5267
682
2935
64
8202
198800
851430
625
9262
29570
761063
125
159
248
1142
535
8382
636
311
1381
4645
7779
1970
16664
27800
132780
28966
-199418
-846163
30188
1394
3304798994
19543374
-793514
-662455
112902
3785
33008
31362
3
3
368815
6296248
6378304
208
68
-259698
-6969422
-7203251
-22500
0
43312
10000
1556450
56638
-22500
-1584439
81961
3784500
3375231494
3136096266
341180
308180
43311767
10000000
-140
-30200
-30200
79426
10000
-439426
-350000
79425737
10000000
-56638
56638
-56638470
29570
2257
27313
4450
1650
440550
106650
-22500
422500
108300
9000
891000
900000
9000000
9715
34003
43718
-18000
-262500
-262500
13782
2650
47965
50615
2650000
1950
-1950
1950000
100
1900
2000
100000
35879
-35879
-76775
-9900
107226
-20551
20
5580
5600
2000000
45000
45000
20000
2580000
2600000
2000000000
87500
87500
13000
13000
8339
1506
6833
3939
42393
46332
136666666
393932727
3750
446250
450000
375000000
0
-15
15
15
-15
-1500000
1500000
60000
3000
57000
5260
46640
51900
300000000
526000000
0
-9000
9000
-100
100
-900000000
-10000000
35879
-140
-140
35800
35800
3
707447
707450
18000
35000
5200
282980
-10000
-15818
-71343
2548
1394
412
-3200
100
100
-318
-543
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Nature of Business</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="background-color: white">Stakool,
Inc. f/k/a Mod Hospitality, Inc. (<i>“the Company” or “Stakool”</i>) was incorporated in the State of Delaware
in 1993. In 1997, the Company changed its Corporate Charter to the State of Nevada. </font>On July 22, 2011, Stakool
entered into an agreement of Purchase and Sale with Anthus Life Corp. (“Anthus”) where Anthus acquired 74,834,313 of
the issued and outstanding shares of Stakool. Anthus operates as a wholly owned subsidiary of Stakool.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Anthus Life Corp. was incorporated in Nevada
on June 4, 2009. Anthus is a developer and manufacturer of natural and organic food products packaged for consumer consumption.  The
company has one product line in the natural food category currently, and will deploy several additional product lines fostering
rapid growth in retail accounts, consumer exposure and revenue.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Reclassifications</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Certain accounts and financial statement captions
in the prior periods have been reclassified to conform to the current period financial statements.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Income Taxes</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Income taxes are computed using the asset
and liability method.  Under the asset and liability method, deferred income tax assets and liabilities are determined
based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently
enacted tax rates and laws.  A valuation allowance is provided for the amount of deferred tax assets that, based on
available evidence, are not expected to be realized.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Concentration of Credit Risks</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company maintains its cash and cash equivalents
in bank deposit accounts, which could, at times, exceed federally insured limits.  The Company has not experienced any
losses in such accounts; however, amounts in excess of the federally insured limit may be at risk if the bank experiences financial
difficulties.</p>
74834313
220909091
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 2 – INVENTORIES</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Inventories consist of packaging and supplies
used in the production of the company’s product. Inventories are stated at the lower of cost, computed using the first-in
first-out method, or market.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company had no inventory on hand at March
31, 2013 or December 31, 2012.</p>
507
507
1841
1841
10500
45000
109500
109500
109500
4000000000
0.00001
900000000
35000
2.50
1500000
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 6 – COMMITMENTS AND CONTINGENCIES</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 29, 2010, the Company signed a
lease for office space in Jacksonville, Florida. The lease commenced on November 1, 2010 and is for a term of three years and one
month. The monthly rent is $1,073.33 with annual increases. The lease required a security deposit of $1,700. Total rent expense
was $8,545 which included common area maintenance during the period ended March 31, 2013.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Future payments under the lease at the present terms are approximately
$8,700 until the termination date of November 30, 2013 plus the cost for common area maintenance.</p>
1700
2461000
101666667
101666667
148888889
100
100
1073
13782
106242
106242
-22500
22500
-25000
-4
606
-605
-5
P1Y
662364772
136666666
2000
761063
0.45
8700
2013-11-30
2638
8982
7005
11236
-13782
16404
15500
70800
5000
-15000
10500
50000
35800
154500
8339
43736
44430
13507
7100000
60000
109500
8545
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Explanatory Note</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On November 14, 2013, Fresh Promise Foods,
Inc.’s (the “Company”) independent registered public accounting firm D’Arelli Pruzansky, P.A. contacted
our Board of Directors regarding a potential misstatement in the Company’s financial statements contained in its quarterly
reports for the first and second quarters of 2013 filed with the Securities and Exchange Commission. On November 14, 2013, the
Company’s board of directors (the “Board”) and chief executive officer, after consultation with Company’s
independent registered public accounting firm, concluded that the following financial statements contained material misstatements:
(1) the Company’s unaudited financial statements for the period ended March 31, 2013, filed in a quarterly report on Form
10-Q with the SEC on May 23, 2013; and (2) the Company’s unaudited financial statements for the period ended June 30, 2013,
filed in a quarterly report on Form 10-Q with the SEC on August 14, 2013. The foregoing financial statements contained material
misstatements pertaining to the failure to record three 12% convertible demand notes totaling $109,500 issued March 13, 2013 and
accrued interest payable due on the notes. The notes were issued to a service provider to satisfy accrued expenses. The errors
on these financial statements for the quarters ended March 31, 2013 and June 30, 2013 resulted in our Board of Directors concluding
that these previously issued financial statements for the respective quarters should no longer be relied upon. The omissions were
corrected by us on our financial statements for the quarters ended March 31, 2013 and June 30, 2013 and for the year to date through
June 30, 2013. We have filed amendments to all financial statements and reports for those periods. The omissions were also identified
and corrected on the 10 Q Quarterly Report filed with the Securities and Exchange Commission November 19, 2013, which may be relied
upon.</p>