EXHIBIT “1”

WATERSIDE CAPITAL CORPORATION

Balance Sheets

June 30, 2019 and 2018

	June 30, 2019			June 30, 2018
ASSETS
Cash	$	8,993		$	4,624
TOTAL ASSETS	$	8,993		$	4,624
LIABILITIES & EQUITY
Liabilities
Current Liabilitites
Accounts Payable	$	7,308		$	6,595
Convertible Note Payable - Roran, net of debt discount		161,838			63,055
Accrued Interest Payable		23,042			163,261
Judgment Payable		-			10,427,300
Total Current Liabilities		192,188			10,660,211
Total Liabilities		192,188			10,660,211
Equity
Common Stock, $1.00 par value, 10,000,000 authorized, 1,915,548 shares issued and outstanding		1,915,548			1,915,548
Additional Paid-In Capital		15,586,480			15,539,813
Accumulated Deficit		(17,685,223	)		(28,110,948	)
Total Equity		(183,195	)		(10,655,587	)
TOTAL LIABILITIES & EQUITY	$	8,993		$	4,624

The accompanying Notes are an integral part of these Financial Statements.

See report of Independent Registered Public Accounting Firm.

WATERSIDE CAPITAL CORPORATION

Statements of Operations

For the years ended June 30, 2019 and 2018

	June 30
	2019			2018
Expense
Administrative Expenses	$	66,344		$	101,309
Interest expense		92,185			39,542
Total Expense		158,529			140,851
Net Loss from Operations		(158,529	)		(140,851	)
Gain on Extinguishment of Debt		10,584,254		$	-
Net Income (Loss)	$	10,425,725		$	(140,851	)
Weighted Average Number of Common Shares Outstanding- Basic and Diluted		1,915,548			1,915,548
Net Income (Loss) Per Share- Basic and Diluted	$	5.44		$	(0.07	)

The accompanying Notes are an integral part of these Financial Statements.

See report of Independent Registered Public Accounting Firm.

WATERSIDE CAPITAL CORPORATION

Statements of Stockholders’ Deficit

For the years ended June 30, 2019 and 2018

	Common Stock				Additional
	($1 Par Value)				Paid-in		Accumulated
	Shares		Par Value		Capital		Deficit			Total
Balance at June 30, 2017		1,915,548	$	1,915,548	$	15,479,680	$	(27,970,097	)	$	(10,574,869	)
Beneficial conversion feature		-		-		60,133		-			60,133
Net loss for the period		-		-		-		(140,851	)		(140,851	)
Balance at June 30, 2018		1,915,548		1,915,548		15,539,813		(28,110,948	)		(10,655,587	)
Beneficial conversion feature		-		-		46,667		-			46,667
Net Income for the period		-		-		-		10,425,725			10,425,725
Balance at June 30, 2019		1,915,548	$	1,915,548	$	15,586,480	$	(17,685,223	)	$	(183,195	)

The accompanying Notes are an integral part of these Financial Statements.

See report of Independent Registered Public Accounting Firm.

WATERSIDE CAPITAL CORPORATION

Statements of Cash Flows

For the years ended June 30, 2019 and 2018

	2019			2018
Cash Flow from Operating Activities
Net income (loss)	$	10,425,725		$	(140,851	)
Adjustments to reconcile Net income (loss) to net cash used in operations:
Amortization of interest		75,450			23,850
Gain on Extinguishment of Debt		(10,584,254	)		-
Changes in assets and liabilities
Accounts Payable		713			6,595
Accrued Interest Payable		16,735			15,692
Net cash used by operating activities		(65,631	)		(94,714	)
Cash flow from Financing Activities
Proceeds from convertible note payable		70,000			99,338
Net cash provided by financing activities		70,000			99,338
Net cash increase for period		4,369			4,624
Cash at beginning of period		4,624			-
Cash at end of period	$	8,993		$	4,624
Supplemental disclosure of non-cash financing activity
Intrinsic value of embedded beneficial conversion feature on convertible note payable	$	46,667		$	-

WATERSIDE CAPITAL CORPORATION

BALANCE SHEETS

As of September 30, 2019 (Unaudited) and June 30, 2019

	June 30, 2019			September 30, 2019
				(unaudited)
ASSETS
Cash	$	8,993		$	11,197
TOTAL ASSETS	$	8,993		$	11,197
LIABILITIES & EQUITY
Liabilities
Current Liabilitites
Accounts Payable	$	7,308		$	7,308
Convertible Note Payable - Roran, net of debt discount		161,838			184,338
Accrued Interest Payable		23,042			28,203
Total Current Liabilities		192,188			219,849
Total Liabilities		192,188			219,849
Equity
Common Stock $1.00 par value, 10,000,000 authorized, 1,915,548 shares issued and outstanding		1,915,548			1,915,548
Additional Paid-In Capital		15,586,480			15,596,480
Acccumulated Deficit		(17,685,223	)		(17,720,680	)
Total Equity		(183,195	)		(208,652	)
TOTAL LIABILITIES & EQUITY	$	8,993		$	11,197

See the accompanying Notes, which are an integral part of these unaudited Financial Statements

WATERSIDE CAPITAL CORPORATION

STATEMENTS OF OPERATIONS

For the Three Months Ended September 30, 2019 and 2018

(Unaudited)

	September 30,
	2019			2018
Expense
Administrative Expenses	$	12,796		$	8,223
Interest expense		22,661			21,165
Total Expense		35,457			29,388
Net Loss from Operating Activities	$	(35,457	)	$	(29,388	)
Net Loss	$	(35,457	)	$	(29,388	)
Weighted Average Number of Common Shares Outstanding- Basic and Diluted		1,915,548			1,915,548
Net Income (Loss) Per Share- Basic and Diluted	$	(0.02	)	$	(0.02	)

See the accompanying Notes, which are an integral part of these unaudited Financial Statements

WATERSIDE CAPITAL CORPORATION

STATEMENTS OF STOCKHOLDERS’ EQUITY

For the Three Months Ended September 30, 2019 and 2018 (Unaudited)

	Common Stock ($1 Par Value)				Additional
			Par		Paid-in		Accumulated
	Shares		Value		Capital		Deficit			Total
Balance at June 30, 2019		1,915,548	$	1,915,548	$	15,586,480	$	(17,685,223	)	$	(183,195	)
Beneficial conversion feature		-		-		10,000		-			10,000
Net loss for the period		-		-		-		(35,457	)		(35,457	)
Balance at September 30, 2019		1,915,548	$	1,915,548	$	15,596,480	$	(17,720,680	)	$	(208,652	)

	Common Stock ($1 Par Value)				Additional
			Par		Paid-in		Accumulated
	Shares		Value		Capital		Deficit			Total
Balance at June 30, 2018		1,915,548	$	1,915,548	$	15,539,813	$	(28,110,948	)	$	(10,655,587	)
Beneficial conversion feature		-		-		16,667		-			16,667
Net loss for the period		-		-		-		(29,388	)		(29,388	)
Balance at September 30, 2018		1,915,548	$	1,915,548	$	15,556,480	$	(28,140,336	)	$	(10,668,308	)

See the accompanying Notes, which are an integral part of these unaudited Financial Statements

WATERSIDE CAPITAL CORPORATION

STATEMENTS OF CASH FLOWS

For the Three Months Ended September 30, 2019 and 2018

(Unaudited)

	2019			2018
OPERATING ACTIVITIES
Net loss	$	(35,457	)	$	(29,388	)
Adjustments to reconcile Net loss to net cash used in operations:
Debt discount		17,500			15,251
Accounts payable		0			(3,750	)
Accrued Interest Payable		5,161			5,913
Net cash used in Operating Activities		(12,796	)		(11,974	)
FINANCING ACTIVITIES
Proceeds from convertible Note payable - from Roran Capital		15,000			25,000
Net cash provided by Financing Activities		15,000			25,000
Net cash increase for period		2,204			13,026
Cash at beginning of period		8,993			4,624
Cash at end of period	$	11,197		$	17,650
Supplemental Non-cash Investing and Financing Activities
Intrinsic value of embedded beneficial conversion option on convertible note payable	$	10,000		$	16,667