The preparation of financial statements in conformity with U.S.accounting principles generally accepted accounting principlesin the United States of America 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 of the financial statements and the reported amounts of revenues and expenses during the reporting period.

Such estimates and assumptions impact, among others, the following: the fair value of share-based payments and transactions and a full valuation allowance on deferred tax assets due to continuing losses.

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from estimates.

GHST WORLD, INC.

Notes to Consolidated Financial Statements

March 31, 2021 and June 30 2010, respectively.

The Company operates in an industryis undertaking a new business venture that is subject to intense competition and change in consumer demand. The Company's operations areinherently subject to significant riskrisks and uncertainties, including financial, operational, technological and operationalother risks including the potentialthat could potentially have a risk of business failure. Also, see Note 4 regarding going concern matters.

Impairment of share-based payments, including stock option grants, restricted stock grants and stock appreciation rights, are measured at their fair value on the awards’ grant date, and based on the estimated number of awards that are ultimately expected to vest. Share-based payment awards issued to non-employees for services rendered are recorded at either the fair value of the services rendered or the fair value of the share-based payment, whichever is more readily determinable. The expense resulting from share-based payments are recorded as a component of general and administrative expense.

The Company obtained a patent dated June 30, 2020, which is a protection device used in sporting activity with the capability to monitor data from the device. The Company has capitalized the patent costs totaling $41,811 and $33,786, respectively at March 31, 2021 and June 30, 2020. The Company will amortize the patent over the useful life of the patent once it is placed in service. No amortization was recorded for the Nine months ended March 31, 2021 and for the year ended June 30, 2020.

NOTE 5 – COMMON STOCK PAYABLE

The Company has an agreement with certain investors to convert their investment into common stock of the Company at a price equal to the average value of the stock over the previous Nine months. The conversion is contingent on the Company effectuating a 1-for-100 reverse stock split and upon a change in the accompanying financial statements,Company’s name. As of March 31, 2021, and June 30, 2020, the Company has received a working capital deficittotal of $220,171$217,784 and $242,715 respectively.

On August 20, 2020, certain investors agreed to accept 25,000,000 shares at December 31, 2010,an average price of approximately $0.001 in exchange for $24,931 of previously paid subscriptions.

These events are subject to clearance with the Financial Industry Regulatory Authority (“FINRA”) which previously declined to approve our application. We believe FINRA did so because we had previously failed to file required reports with the Securities and Exchange Commission (the “SEC”), which subsequently revoked our registration under the Securities Exchange Act of 1934 (the “Exchange Act”). Our delinquency occurred under prior management with a net loss of $281,564 and net cash used in operations of $154,447 for the six months ended December 31, 2010.

We have again registered with the SEC under the Exchange Act through debt and/or equity marketsour effective Form 10. On June 10, 2021, we filed a new application with some additional funding from other traditional financing sources, including term notes, until such time that funds provided by operations are sufficient to fund working capital requirements.  The Company may need to incur additional liabilities with certain related parties to sustain the Company’s existence.

NOTE 6 – RELATED PARTY TRANSACTIONS

At March 31, 2021, the Company advanced $130,000owed related parties a total of $13,687. These shareholder loans are unsecured, non-interest bearing and are due on demand. See note 3 as these amounts that will be converted to common stock are from related parties.

As shown in Note 3, the Company has committed to converting certain debts to equity. Included in the debts is $94,552 as of March 31, 2021 of amounts due from related parties that will also be converted as described in Note 3.

In connection with the sales of common stock the Company paid a total of $13,903, of which $9,183 as a fee to the son of the Chairman of the Board and $4,720 to a director, which was due on April 1, 2011.  company owned by the CFO.

These transactions were in the normal course of operations and were measured at a value that represents the amount of consideration established and agreed to by the related parties.

NOTE 7 – STOCKHOLDERS’ EQUITY

The loan was not interest bearing. Subsequently, the Company was advised by securities counsel that the loan would have been a violation of the Sarbanes-Oxley Act of 2002, which prohibits loans to officers and directors, following effectiveness of the Form 10.  The Company’s Board of Directors agreed on August 19, 2010 to accept 130,000has authorized 700,000,000 shares of common stock, owned by this director,$0.001 par value, of which 523,908,071 shares are issued and outstanding as of March 31, 2021.

Common Stock Issuances

On August 20, 2020, certain investors agreed to accept 25,000,000 shares at an average price of approximately $0.001 in exchange for the loan receivable, based on the estimated fair value per common share$24,931 of $1.00, which was based upon the fair value of stock issued in connection with a debt conversion in March 2010. This debt holder was a third partypreviously paid subscriptions.

In November and the conversion rate represented the best evidence of fair value.  These shares are reflected as treasury stock on the accompanying balance sheet.

Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. The results anticipated by any or all of these forward-looking statements might not occur. Important factors, uncertainties and risks that couldmay cause actual results to differ materially from those in thethese forward-looking statements include the conditions of the global credit and capital markets and the failure to agree upon final terms in a definitive agreement.

Overview

We are a holding company for various technology and other activities. As of the date of this Report, our principal business strategy is seeking to exploit a patent and obtain and exploit future patents for the Smart Shin Guard. The Smart Shin Guard is a wearable protective device used while playing soccer and certain other sports combined with data collection and analysis technology that monitors players’ individual and collective physical and performance-based metrics and transmits this information to a separate module in real-time.

We have not generated any revenue and need substantial additional financing to market our services. We recently filed a registration statement on Form 10 with the SEC, which became effective May 8, 2021, pursuant to which we became subject to the periodic and current reporting requirements under Section 12(g) of the Securities Exchange Act of 1934 (the “Exchange Act”).

Results of Operations

The following discussion should be read in conjunction with the financial statements and notes thereto included elsewhere in this report.

Fiscal Quarter Ended March 31, 2021 Compared to the Fiscal Quarter Ended March 31, 2020.

We had no revenues in the three months ended March 31, 2021 and 2020, and we sustained net losses of $46,777 and $6,806, respectively, in those periods. During the three months ended March 31, 2021, expenses consisted primarily of general and administrative expenses, including professional fees for legal and financial services, and expenses incurred in connection with our product development efforts. During the period ended March 31, 2020, our expenses consisted primarily of general and administrative costs.

Liquidity and Capital Resources

Net Cash used by Operating Activities:

For the nine months ended March 31, 2021, the Company used net cash of approximately $90,521 in operating activities as compared to approximately $32,160 for the nine months ended March 31, 2020. The increase in cash used from operations was due to an increase in professional fees to prepare and file our Form 10 and related compliance costs in becoming an SEC reporting company, and expenses incurred in connection with our product development efforts.

In the three months ended March 31, 2021, we entered into two agreements with third party developers. One such agreement provides for the development of our Smart Shin Guard, and the other provides for the development of a smart phone application for use in conjunction with our Smart Shin Guard. Under these agreements, we have agreed to pay the service providers a total of approximately €142,000 (approximately $173,000). We began making payments under these agreements during the period covered by this Report.

Cash Used in Investing Activities:

For nine months ended March 31, 2021 and 2020, the Company used $8,025 and $0 in investing activities. Our cash used in investing activities in the period ended 2021 consisted of patent costs.

Cash Flows from Financing Activities:

Cash flows from financing activities for the nine months ended March 31, 2021 were $153,830 compared to $23,402 for the nine months ended March 31, 2020.

We have approximately $30,307.40 in available cash as of June 11, 2021 and for the past two years we have been relying on loans from our current investors and related parties and proceeds from sales of our common stock to fund our operations. As reflected in the Financial Statements contained elsewhere in this Report, management has expressed substantial doubt about our ability to continue as a going concern for the next 12 months from the date these Financial Statements were issued, unless we can raise the required capital or generate material revenue to fund our operations.

We do not have sufficient capital to support our operations for the next 12 months and will dependent upon on the proceeds from a financing, which may consist of sales of our common stock, the issuance of debt securities and/or issuance of securities convertible into shares of our common stock, any of which could have a dilutive effect on our existing shareholders. We intend to raise capital from existing investors or from the sale of a minority interest in our subsidiaries if and to the extent possible. We estimate that we will need to raise at least $1,000,000 in order to meet our working capital needs for the next 12 months. We plan to phase in our expenses and grow our business as working capital is available.

Significant Accounting Policies and Recent Accounting Pronouncements

Please see the notes to our Financial Statements for information about our Significant Accounting Policies and Recent Accounting Pronouncements.

COVID-19 Update

The COVID-19 pandemic has had a significant adverse effect on the economy throughout the world. While economies in certain jurisdictions and geographic areas have begun to reopen in the wake of the pandemic, if the pandemic and government action in response thereto result in a prolonged economic recession or depression, or if there are delays in reopening in areas in which we intend to do business, the Company’s development and implementation of its business plan and our ability to commence and grow our operations, as well as our ability to generate material revenue therefrom, will be required by law.