REPORT OF INDEPENDENT AUDITOR

The Board of Directors

Vedo Trade LLC

United states of
America

Opinion
We have audited the accompanying Profit & Loss account and Balance Sheet of Vedo Trade LLC, for the period ended
December 31, 2021-2022-2023 and the related notes to the financial statements along with projection for the year
2024,2025 and 2026

In our opinion, the financial statement referred to above present fairly, in all material respects, in accordance with
accounting principles generally accepted in the United States of America.

Basis for Opinion

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Our
responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial
statements section of our report. We are required to be independent of the Organization and to meet our other ethical
responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Responsibilities of Management for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with
accounting principles generally accepted in the United States of America and for the design, implementation, and
maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free
from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events,
considered in the aggregate, that raise substantial doubt about the Organization’s ability to continue as a going concern
within one year after the date that the financial statements are available to be issued.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements are free from material
misstatement, whether due to fraud or error and to issue an auditor’s report that includes our opinion. Reasonable
assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted
in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The
risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements,
including omissions, are considered material if there is a substantial likelihood that, individually or in the aggregate, they
would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with generally accepted auditing standards, we:

• Exercise professional judgment and maintain professional skepticism throughout the audit.

• Identify and assess the risk of material misstatement of the financial statements, whether due to fraud or error,
and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test
basis, evidence regarding the amounts and disclosures in the financial statements.
 • Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Organization’s internal control. Accordingly, no such opinion is
expressed.

• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of
financial statements.

• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate,
that raisesubstantial doubt about the Organization’s ability to continue as a going concern for a
reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control related
matters that we identified during the audit.
Statement of Comprehensive Income
VEDO TRADE LLC
For The Year Ended December 31, 2021-22-23
Notes Audited Projected
2021 2022 2023 2024 2025 2026
REVENUE 8
Revenue 1,041,710 533,736 813,183 2,510,186 5,772,022 14,472,452

Cost of Goods Sold 9

Shipping, Freight & Delivery - Product 169,240 102,264 145,100 548,665 1,443,683 3,904,826

Gross Profit 872,470 431,472 668,083 1,961,521 4,328,339 10,567,626

EXPENSES 10
Total expenses 319,223 143,797 228,357 1,424,104 2,569,739 4,299,394

Net Profit 553,248 287,675 439,726 537,417 1,758,600 6,268,232

The annexed notes (1 to 10) form an integral part of these financial statements.

Page 18
VEDO TRADE LLC
STATEMENT OF FINANCIAL POSITION
AS AT NOVEMBER 28, 2023

2023
Note Rupees

ASSETS

Current assets

Cash in Bank 2 88,209

Due from Vedo Media 3 1,743,000

TOTAL ASSETS 1,831,209

EQUITY AND LIABILITIES

Share capital and reserves

Contributions -
Retained Earnings 4 1,913,437
Net Income 5 (141,099)
Distributions 6 (258)
1,772,338

Current liabilities

Credit Card Payable 7 59,129

Due to VedoMedia -
59,129

Contingencies and commitments

TOTAL EQUITY AND LIABILITIES 1,831,467

The annexed notes (1 to 10) form an integral part of these financial statements.

CHIEF EXECUTIVE DIRECTOR

VEDO TRADE LLC
Notes to the Financial Statements
For the year ended December 31, 2023

1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Cash and cash equivalents
The Organization considers investment instruments purchased or donated with original maturities of three months or less to be cash
and cash equivalents.

Functional allocation of expenses

The statements of functional expenses present expenses by function and natural classification. Expenses directly attributable to a
specific functional area are reported as expenses of those functional areas. Indirect costs that benefit multiple functional areas are
allocated among the various functional areas based primarily on employee time and space utilization.

Use of estimates
Management uses estimates and assumptions in preparing the accompanying financial statements. Those estimates and assumptions
affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and reported revenues and
expenses. Significant estimates used in preparing these financial statements include those used in determining the useful lives of
property and equipment and the estimated fair value of noncash contributions. Actual results could differ from the estimates.

2023
Note PKR

2 Cash and bank

Banco Popular #0786 75,163

Banco Popular #7372 6,571
Wells Fargo 6,475
88,209

3 Advances and other receivable

Due from Vedo Media 1,743,000

4 Equity

Retained Earnings 1,913,437

5 Accumulated (loss)

Net Loss (141,099)

6 Distributions
(258)
Distribution

7 Accrued and other liabilities

Amex Gold Credit Card 792

Amex Plum Credit Card 58,611
Citi Credit Card (274)
59,129
VEDO VEDO
TRADETRADE
LLC LLC
Notes toNotes
the Financial
to the Financial
Statements
Statements
For the For
yearthe
ended
yearDecember
ended December
31, 202331, 2023

4 Summary of significant accounting policies

4.1 Overall consideration

These financial statements have been prepared using the measurement bases specified by IFRS for each type
of asset, liability, surplus and expense. The measurement bases are more fully described in the accounting
policies below.

4.2 Foreign currency

Functional and presentation currency
These financial statements are presented in United Arab Emirates dirham (AED), which is the Company’s
functional currency.
Foreign currency transactions and balances
Foreign currency transactions are translated into the functional currency, using the exchange rates prevailing at
the dates of the transactions (spot exchange rate). Foreign exchange gains and losses resulting from the
settlement of such transactions and from the remeasurement of monetary items denominated in foreign
currency at year-end exchange rates are recognized in profit or loss.

Non-monetary items are not retranslated at year-end and are measured at historical cost (translated using the
exchange rates at the transaction date), except for non-monetary items measured at fair value which are
translated using the exchange rates at the date when fair value was determined.

4.3 Property and equipment

Property and equipment are initially recognized at acquisition cost, including any costs directly attributable to
bringing the assets to the location and condition necessary for it to be capable of operating in the manner
intended by the Company’s management.
Property and equipment are subsequently measured using the cost model, cost less subsequent depreciation
and impairment losses.
Material residual value estimates and estimates of useful life are updated as required, but at least annually,
whether or not the asset is revalued.
Gains or losses arising on the disposal of property, plant and equipment are determined as the difference
between the disposal proceeds and the carrying amount of the assets and are recognized in profit or loss within
'other income/(expense) - net'.

4.4 Impairment testing of non financial assets

For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are largely
independent cash inflows (cash-generating units). As a result, some assets are tested individually for
impairment and some are tested at cash-generating unit level.

Individual assets or cash-generating units are tested for impairment whenever events or changes in
circumstances indicate that the carrying amount may not be recoverable.

Page 9
VEDO VEDO
TRADETRADE
LLC LLC
Notes toNotes
the Financial
to the Financial
Statements
Statements
For the For
yearthe
ended
yearDecember
ended December
31, 202331, 2023
An impairment loss is recognized for the amount by which the asset's or cash-generating unit's carrying
amount exceeds its recoverable amount, which is the higher of fair value less costs to sell and value-in-use. To
determine the value-in-use, management estimates expected future cash flows from each cash-generating unit
and determines a suitable interest rate in order to calculate the present value of those cash flows. The data used
for impairment testing procedures are directly linked to the Company's latest approved budget, adjusted as
necessary to exclude the effects of future reorganizations and asset enhancements. Discount factors are
determined individually for each cash-generating unit and reflect their respective risk profiles, such as market
and asset-specific risks factors.

Impairment losses for cash-generating units reduce first the carrying amount of any goodwill (if any) allocated
to that cash-generating unit. Any remaining impairment loss is charged pro rata to the other assets in the cash-
generating unit. All assets are subsequently reassessed for indications that an impairment loss previously
recognized may no longer exist. An impairment charge is reversed if the cash-generating unit's recoverable
amount exceeds its carrying amount.

4.5 Financial instruments

Recognition, initial measurement and derecognition

All financial assets are recognized on trade date when the purchase of a financial asset is made under contract
whose terms require delivery of the financial asset within the timeframe established by the market concerned.
Financial assets are initially measured at cost, plus transaction costs, except for those financial assets classified
as at fair value through other comprehensive income or profit or loss, which are initially measured at fair value.
All recognized financial assets are subsequently measured in their entirety at either amortized cost or fair value.

The fair value of financial instruments that are actively traded in organized financial markets is determined by
reference to quoted market bid prices for assets and offer prices for liabilities, at the close of business on the
reporting date. If quoted market prices are not available, reference can also be made to broker or dealer price
quotations

The fair value of floating rate and overnight deposits with credit institutions is their carrying value. The
carrying value is the cost of the deposit and accrued interest.
Subsequent measurement of financial assets and financial liabilities is described below.

Classification and subsequent measurement of financial assets

On initial recognition, a financial asset is classified as measured: at amortized cost, Fair Value through Other
Comprehensive Income (FVOCI) or Fair Value through Profit and Loss (FVTPL).
A financial asset is measured at amortized cost if it meets both the following conditions and is not designated
as at FVTPL:
- the asset is held within a business model whose objective is to hold assets to collect contractual cash flows;
and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely
payments of principal and profit on the principal amount outstanding.
In addition, on initial recognition, the Company may irrevocably designate a financial asset that otherwise
meets the requirements to be measured at amortized cost or at FVOCI as at FVTPL if doing so eliminates or
significantly reduces an accounting mismatch that would otherwise arise.

Page 10
VEDO VEDO
TRADETRADE
LLC LLC
Notes toNotes
the Financial
to the Financial
Statements
Statements
For the For
yearthe
ended
yearDecember
ended December
31, 202331, 2023
Business model assessment
The Company makes an assessment of the objective of a business model in which an asset is held at a
portfolio level because this best reflects the way the business is managed and information is provided to
management.
Assessment whether contractual cash flows are solely payments of principal and profit
For the purposes of this assessment, ‘principal’ is defined as the fair value of the financial asset on initial
recognition. ’Profit’ is defined as consideration for the time value of money and for the credit risk associated
with the principal amount outstanding during a particular period of time and for other basic financing risks and
costs (e.g. liquidity risk and administrative costs), as well as profit margin.
In assessing whether the contractual cash flows are solely payments of principal and profit, the Company
considers the contractual terms of the instrument. This includes assessing whether the financial asset contains
a contractual term that could change the timing or amount of contractual cash flows such that it would not
meet this condition.
Reclassifications
Financial assets are not reclassified subsequent to their initial recognition, except in the period after the
Company changes its business model for managing financial assets.
Impairment
The Company recognizes allowance for impairment for expected credit losses (ECL) on financial assets
measured at amortized cost and commitments issued.
The Company measures allowance for impairment at an amount equal to lifetime ECL, except for those
financial instruments on which credit risk has not increased significantly since their initial recognition, in which
case 12-month ECL is measured.
Measurement of ECL

ECL are probability-weighted estimate of credit losses. They are measured as follows:
• financial assets that are not credit-impaired at the reporting date: as the present value of all cash shortfalls (i.e.
the difference between the cash flows due to the entity in accordance with the contract and the cash flows that
the Company expects to receive).
• financial assets that are credit-impaired at the reporting date: as the difference between the gross carrying
amount and the present value of estimated future cash flows;
• undrawn finance commitments: as the present value of the difference between the contractual cash flows that
are due to the Company if the commitment is drawn down and the cash flows that the Company expects to
receive.

Credit-impaired financial assets

At each reporting date, the Company assesses whether financial assets carried at amortized cost. A financial
asset is ‘credit- impaired’ when one or more events that have a detrimental impact on the estimated future cash
flows of the financial asset have occurred.

Page 11
VEDO VEDO
TRADETRADE
LLC LLC
Notes toNotes
the Financial
to the Financial
Statements
Statements
For the For
yearthe
ended
yearDecember
ended December
31, 202331, 2023
Write-off

Assets carried at amortized cost and debt securities at FVOCI are written off (either partially or in full) when
there is no realistic prospect of recovery. This is generally the case when the Company has exhausted all legal
and remedial efforts to recover from the customers. However, financial assets that are written off could still be
subject to enforcement activities in order to comply with the Company’s procedures for recovery of amounts
due.

Presentation of impairment
Loss allowance for financial assets measured at amortized cost are deducted from the gross carrying amount of
the assets.

Derecognition of financial assets

A financial asset (or, when applicable, a part of a financial asset or part of a group of similar financial assets) is
derecognized when:

- The rights to receive cash flows from the asset have expired,
- The Company retains the right to receive cash flows from the asset, but has assumed an obligation to pay
them in full without material delay to a third party under a ‘pass-through’ arrangement,
- The Company has transferred its rights to receive cash flows from the asset and either has transferred
substantially all the risks and rewards of the asset, or has neither transferred nor retained substantially all the
risks and rewards of the asset, but has transferred control of the asset.

When the Company has transferred its right to receive cash flows from an asset or has entered into a pass-
through arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership.
When it has neither transferred nor retained substantially all the risks and rewards of the asset nor transferred
control of the asset, the asset is recognized to the extent of the Company’s continuing involvement in the
asset. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the
lower of the original carrying amount of the asset and the maximum amount of consideration that the
Company could be required to repay.

Any cumulative gain/loss recognized in OCI in respect of equity investment securities designated as FVOCI is
not recognized in profit or loss account on derecognition of such securities.

The carrying amounts of Company’s financial assets carried at amortized cost/cost and non-financial assets,
except for deferred tax assets, are reviewed at each reporting date to determine whether there is any indication
of impairment. If any such indication exists, the assets’ recoverable amounts are estimated.

Page 12
VEDO VEDO
TRADETRADE
LLC LLC
Notes toNotes
the Financial
to the Financial
Statements
Statements
For the For
yearthe
ended
yearDecember
ended December
31, 202331, 2023
Non-financial assets

Non-financial assets, other than deferred taxes, are assessed at each reporting date for any indications of
impairment. The recoverable amount of non-financial assets is the greater of their fair value less costs to sell
and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value
using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks
specific to the asset. For an asset that does not generate cash inflows largely independent of those from other
assets, the recoverable amount is determined for the cash-generating unit to which the asset belongs. An
impairment loss is recognized when the carrying amount of an asset or its cash-generating unit exceeds its
recoverable amount.

All impairment losses in respect of non-financial assets are recognized in profit or loss and reversed only if
there has been a change in the estimates used to determine the recoverable amount. Any impairment loss is
only reversed to the extent that the asset’s carrying amount does not exceed the carrying amount that would
have been determined, net of depreciation or amortization, if no impairment loss had been recognized.
Financial liabilities

The Company’s financial liability includes other payables and amount due to a related party. Such a financial
liability is recognized initially at fair value plus any directly attributable transaction costs. Subsequent to initial
recognition, this financial liability is measured at amortized cost using the effective interest method.
Discounting is omitted where the effect of discounting is immaterial.
Offsetting financial instruments
Financial assets and liabilities are offset and the net amount reported in the statement of financial position only
when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on
a net basis, or to realize the asset and settle the liability simultaneously.

4.6 Cash and cash equivalents

Cash and cash equivalents are items, which are readily convertible to known amounts of cash and which are
subject to an insignificant risk of changes in value. Cash and cash equivalents in the statement of financial
position comprise cash on hand and balance in bank accounts and are initially and subsequently recorded at
fair value.
For purpose of the statement of cash flows, all cash and bank balances are considered to be cash and cash
equivalents.

4.7 Provisions and contingent liabilities

Provisions are recognized when present obligations as a result of a past event will probably lead to an outflow
of economic resources from the Company and amounts can be estimated reliably.
Timing or amount of the outflow may still be uncertain. A present obligation arises from the presence of a
legal or constructive commitment that has resulted from past events. Provisions are not recognized for future
operating losses.

Page 13
VEDO VEDO
TRADETRADE
LLC LLC
Notes toNotes
the Financial
to the Financial
Statements
Statements
For the For
yearthe
ended
yearDecember
ended December
31, 202331, 2023
Provisions are measured at the estimated expenditure required to settle the present obligation, based on the
most reliable evidence available at the reporting date, including the risks and uncertainties associated with the
present obligation. Where there are a number of similar obligations, the likelihood that an outflow will be
required in settlement is determined by considering the class of obligations as a whole. Provisions are
discounted to their present values, where the time value of money is material. Any reimbursement that the
Company can be virtually certain to collect from a third party with respect to the obligation is recognized as a
separate asset. However, this asset may not exceed the amount of the related provision. All provisions are
reviewed at each reporting date and adjusted to reflect the current best estimate. In those cases, where the
possible outflow of economic resources as a result of present obligations is considered improbable or remote,
no liability is recognized.

4.8 Leases - Accounting policy applicable from 1 January 2019

Company as a lessee
For any new contracts entered into on or after 1 January 2019, the Company considers whether a contract is,
or contains a lease. A lease is defined as ‘a contract, or part of a contract, that conveys the right to use an asset
(the underlying asset) for a period of time in exchange for consideration’.
To apply this definition the Company assesses whether the contract meets three key evaluations which are
whether:
Contract contains an identified asset, which is either explicitly identified in the contract or implicitly specified
by being identified at the time the asset is made available to the Company
Company has the right to obtain substantially all of the economic benefits from use of the identified asset
throughout the period of use, considering its rights within the defined scope of the contract
Company has the right to direct the use of the identified asset throughout the period of use. The Company
assess whether it has the right to direct ‘how and for what purpose’ the asset is used throughout the period of
use.

Initial recognition
At lease commencement date, the Company recognizes a right-of-use asset and a lease liability on the balance
sheet. The right of-use asset is measured at cost, which is made up of the initial measurement of the lease
liability, any initial direct costs incurred by the Company, an estimate of any costs to dismantle and remove the
asset at the end of the lease, and any lease payments made in advance of the lease commencement date (net of
any incentives received).

Page 14
VEDO VEDO
TRADETRADE
LLC LLC
Notes toNotes
the Financial
to the Financial
Statements
Statements
For the For
yearthe
ended
yearDecember
ended December
31, 202331, 2023
Subsequent Measurement

The Company depreciates the right-of-use assets on a straight-line basis from the lease commencement date to
the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The Company also
assesses the right-of-use asset for impairment when such indicators exist.
At the commencement date, the Company measures the lease liability at the present value of the lease
payments unpaid at that date, discounted using the interest rate implicit in the lease if that rate is readily
available or the Company’s incremental borrowing rate.

Lease payments included in the measurement of the lease liability are made up of fixed payments (including in
substance fixed), variable payments based on an index or rate, amounts expected to be payable under a residual
value guarantee and payments arising from options reasonably certain to be exercised.

Subsequent to initial measurement, the liability is reduced for payments made and increased for interest. It is
remeasured to reflect any reassessment or modification, or if there are changes in in-substance fixed payments.

When the lease liability is remeasured, the corresponding adjustment is reflected in the right-of-use asset, or
profit and loss if the right-of-use asset is already reduced to zero.
The Company has elected to account for short-term leases and leases of low-value assets using the practical
expedients. Instead of recognizing a right-of-use asset and lease liability, the payments in relation to these are
recognized as an expense in profit or loss on a straight-line basis over the lease term.
On the statement of financial position, right-of-use assets have been included in property, plant and equipment
and lease liabilities have been included in trade and other payables.

The Company as a lessor

As a lessor the Company classifies its leases as either operating or finance leases.
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to
ownership of the underlying asset, and classified as an operating lease if it does not.

4.9 Revenue
Revenue is measured by reference to the fair value of consideration received or receivable, excluding rebates,
and trade discounts.
The Company applies the revenue recognition criteria set out below to each separately identifiable component
of the sales transaction in order to reflect the substance of the transaction. The consideration received from
these multiple-component transactions is allocated to each separately identifiable component in proportion to
its relative fair value.

Revenue is recognized when the amount of revenue can be measured reliably, collection is probable, the costs
incurred or to be incurred can be measured reliably, and when the criteria for each of the Company's different
activities have been met. These activity-specific recognition criteria are described below.

4.11 Operating expenses

Operating expenses are recognized in profit or loss upon utilization of the service or at the date of their origin.

4.12 Significant management judgement in applying accounting policies

Page 15
VEDO VEDO
TRADETRADE
LLC LLC
Notes toNotes
the Financial
to the Financial
Statements
Statements
For the For
yearthe
ended
yearDecember
ended December
31, 202331, 2023
When preparing the financial statements, management undertakes a number of judgements, estimates and
assumptions about the recognition and measurement of assets, liabilities, income and expenses.
The following are significant management judgements in applying the accounting policies of the Company that
have the most significant effect on the financial statements.
Contract revenue
The stage of completion of any contract is assessed by management by taking into consideration all
information available at the reporting date. In this process management exercises significant judgement about
milestones, actual work performed and the estimated costs to complete the work.
Provision for doubtful debts

The Company assesses its trade receivables for impairment at each reporting date. In determining whether an
impairment loss should be recorded in the profit or loss, the Company makes judgements as to whether there
is observable data indicating a measurable decrease in the estimated future cash flows from a financial asset.

The impairment for trade receivables is calculated on an individual customer basis, based on historical loss
ratios, adjusted for industry specific economic conditions and other indicators present at the reporting date
that correlate with defaults on the individual customers.

4.13 Estimation uncertainty

Information about estimates and assumptions that have the most significant effect on recognition and
measurement of assets, liabilities, income and expenses is provided below. Actual results may be substantially
different.

Impairment of non financial assets

An impairment loss is recognized for the amount by which the asset's or cash-generating unit's carrying
amount exceeds its recoverable amount. To determine the recoverable amount, management estimates
expected future cash flows from each cash-generating unit and determines a suitable interest rate in order to
calculate the present value of those cash flows.
In the process of measuring expected future cash flows management makes assumptions about future
operating results. These assumptions relate to future events and circumstances. The actual results may vary,
and may cause significant adjustments to the Company's assets within the next financial year.
In most cases, determining the applicable discount rate involves estimating the appropriate adjustment to
market risk and the appropriate adjustment to asset-specific risk factors.

Contract revenue
Recognized amounts of contract revenues and related receivables reflect management’s best estimate of each
contract’s outcome and stage of completion. This includes the assessment of the profitability of on-going
contracts. For more complex contracts in particular, costs to complete and contract profitability are subject to
significant estimation uncertainty.

Page 16
VEDO VEDO
TRADETRADE
LLC LLC
Notes toNotes
the Financial
to the Financial
Statements
Statements
For the For
yearthe
ended
yearDecember
ended December
31, 202331, 2023
Allowance for doubtful debts

An allowance for doubtful debts is determined using a combination of factors to ensure that the accounts
receivable are not overstated due to un-collectability. The allowance for doubtful debts for all customers is
based on a variety of factors, including the overall quality and aging of the receivables, continuing credit
evaluation of customers’ financial conditions and collateral requirements for customers in certain
circumstances. Being dependent on aforementioned future event it is susceptible to change.

Useful life of depreciable assets

Management reviews the useful lives of depreciable assets at each reporting date, based on the expected utility
of the assets to the groups. Uncertainties in these estimates relate to technical obsolescence that may change
the utility of certain software and IT equipment.

Page 17
VEDO TRADE LLC
Notes to the Financial Statements
For the year ended December 31, 2023

Audited Projected
2021 2022 2023 2024 2025 2026
8 REVENUE
Revenue 1,041,710 533,736 813,183 2,510,186 5,772,022 14,472,452

9 Cost of Goods Sold

Shipping, Freight & Delivery - Product 169,240 102,264 145,100 548,665 1,443,683 3,904,826

10 EXPENSES
Accounting Fees - - - - - -
Advertising & Marketing 297,250 116,850 202,452 999,856 1,717,244 2,914,716
Ask My Accountant - - - - - -
Auto Expense - - - - - -
Bank Charges & Fees 834 2,326 1,195 1,241 1,241 1,241
Charitable Contributions - - - - - -
Dues & subscriptions 3,610 3,610 3,037 5,580 6,719 6,719
Job Supplies 318 318 438 558 558 558
Legal & Professional Services - - - - - -
Meals & Entertainment 410 410 410 410 410 410
Merchant Fees 838 838 776 838 838 838
Office Supplies - - - - - -
Broker Fees - - - 4,500 71,500 334,125
Payroll Taxes - - - - - -
Postage & Delivery - - - 62,842 122,136 239,814
Product Testing - - - - - -
Rent & Lease 1,812 1,882 1,744 22,200 1,898 1,898
Repairs & Maintenance 966 244 75 75 75 75
Salaries & Wages 9,345 13,480 13,040 318,624 635,766 786,936
Software - - - - - -
Taxes & Licenses - - - - - -
Travel - - - - - -
Web Services 3,840 3,840 5,190 7,380 11,354 12,063

Total expenses 319,223 143,797 228,357 1,424,104 2,569,739 4,299,394