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Management Discussion

• ·        Our selling and advertising expense mainly includes our marketing and sales staff’s salaries and related benefits, and travel and entertainment costs incurred by our sales department. Selling expense totaled $54,182 for the year ended December 31, 2020, while we incur $600 selling expense for the year ended December 31, 2019.
• ·        Professional fees primarily consisted of accounting fees, legal service fees, consulting fees, investor relations service charges and other fees incurred for service related to becoming and being a public company. For the years ended December 31, 2020 and December 31, 2019, professional fees amounted to $342,016 and $48,758, respectively, an increase of $293,258. The increase was mainly attributable to an increase in fees of approximately $120,000 incurred for services performed by our marketing consultant, and an increase in legal services fees of approximately $143,819,000, and an increase in accounting expenses of approximately $32,300 resulting from our business expansion. We expect professional fees to increase as we incur significant costs associated with our public company reporting requirements, and costs associated with newly applicable corporate governance requirements, including requirements under the Sarbanes-Oxley Act of 2002 and other rules implemented by the Securities and Exchange Commission.
• ·        Management fees primarily consisted of compensation of our Chief Operating officer and Chief Marketing Officer, and the President of our wholly owned subsidiary, Cannavolve.