ITEM 1. FINANCIAL STATEMENTS

Kyto Technology and Life Science, Inc.

Condensed Balance Sheets

		June 30,		March 31,
		2020		2020
		(Unaudited)
ASSETS
Current Assets
Cash	$	126,329	$	33,756
Receivables		-		500
Investments		2,915,499		2,665,499
Total Assets	$	3,041,828	$	2,699,755
��
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable & accrued liabilities	$	29,037	$	26,394
Accrued liabilities & loans - related party		8,000		5,750
Total Current Liabilities		37,037		32,144

Commitments and Contingencies		-		-

Stockholders' Equity
Preferred stock authorized but not designated, $.01 par value 19,800,000 shares, none issued and outstanding as of June 30, 2020 and March 31, 2020		-		-
Series A preferred convertible stock, $.01 par value, 4,200,000 shares designated, 4,200,000 issued and outstanding as of June 30, 2020 and March 31, 2020		42,001		42,001
Series B preferred convertible stock, $0.01 par value, 6,000,000 shares designated, 1,281,250 and 812,500 issued and outstanding as of June 30, 2020 and March 31, 2020, respectively		12,188		8,125
Common stock, $.01 par value, 40,000,000 shares authorized, 5,836,832 issued and outstanding as of June 30, 2020 and March 31 2020		58,368		58,368
Additional paid-in capital		36,315,354		35,943,369
Accumulated deficit		(33,423,120)		(33,384,252)
Total Stockholders' Equity		3,004,791		2,667,611

Total Liabilities and Stockholders' Equity	$	3,041,828	$	2,699,755

The accompanying notes are an integral part of these unaudited condensed financial statements.

Kyto Technology and Life Science, Inc.

Condensed Statements of Operations

(Unaudited )

		For the Three months Ended June 30,
		2020		2019
Revenue	$	500	$	3,250
Operating Expenses
General and administrative		39,368		204,848
Total Operating Expenses		39,368		204,848

Loss from Operations		(38,868)		(201,598)
Interest expense, net		-		-

Net Loss before taxes		(38,868)		(201,598)
Income (tax) benefit		-		-

Net Loss	$	(38,868)	$	(201,598)
Weighted average number of shares outstanding
basic and diluted		5,836,832		5,836,832

Net loss per share - basic and diluted	$	(0.01)	$	(0.03)

The accompanying notes are an integral part of these unaudited condensed financial statements.

~~ITEM 1. FINANCIAL STATEMENTS~~

Kyto Biopharma, Inc.

Condensed Balance Sheets

December 31,

March 31,

2017

2017

(Unaudited)

ASSETS

Current Assets

Cash
$76
$-
Total Current Assets
  76
  -
Total Assets
$76
$-



LIABILITIES AND STOCKHOLDERS' DEFICIT




Current Liabilities


Accounts payable and accrued expenses
$-
$22
Accrued liabilities
  5,000
  10,000
Accrued liabilities - related party
  196,000
  148,000
Loans payable - related party
  89,067
  68,107
Total Current Liabilities
  290,067
  226,129



Commitments and Contingencies





Stockholders' Deficit


Preferred convertible stock, $1.00 par value, 2,000,000 shares


authorized, none issued and outstanding as of


December 31, 2017 and March 31, 2017, respectively
  -
  -
Common stock, $0.0001 par value, 100,000,000 shares


authorized, 3,139,747 issued and outstanding as of


December 31, 2017 and March 31, 2017, respectively
  314
  314
Additional paid-in capital
  32,063,476
  32,063,476
Accumulated deficit
  (32,353,781)
  (32,289,919)
Total Stockholders' Deficit
  (289,991)
  (226,129)
Total Liabilities and Stockholders' Deficit
$76
$-

Kyto Technology and Life Science, Inc.

Condensed Statements of Stockholders' Equity

(Unaudited)

	Preferred A Stock #		Preferred A Stock Amount	Preferred B Stock #		Preferred B Stock Amount	Common Stock #		Common Stock Amount		Additional Paid-in Capital		Accumulated Deficit		Total
Balance, March 31, 2019	2,612,500	$	26,125	-	$	-	5,836,832	$	58,368	$	34,090,092	$	(32,610,853)	$	1,563,732

Net (loss) for the three months ended June 30, 2019	-		-	-		-	-		-		-		(201,598)		(201,598)
Sale of Series A Preferred stock at $0.80 per share	1,081,250		10,813	-		-	-		-		854,187		-		865,000
Compensation expense on stock options	-		-	-		-	-		-		101		-		101

Balance, June 30, 2019	3,693,750	$	36,938	-	$	-	5,836,832	$	58,368	$	34,944,380	$	(32,812,451)	$	2,227,235

Balance, March 31, 2020	4,200,000	$	42,001	812,500	$	8,125	5,836,832	$	58,368	$	35,943,369	$	(33,384,252)	$	2,667,611
Net (loss) for the three months ended June 30, 2020	-		-	-		-	-		-		-		(38,868)		(38,868)
Sale of Series B Preferred stock at $0.80 per share	-		-	468,750		4,063	-		-		370,937		-		375,000
Compensation expense on stock options	-		-	-		-	-		-		1,048		-		1,048
Balance, June 30, 2020	4,200,000	$	42,001	1,281,250	$	12,188	5,836,832	$	58,368	$	36,315,354	$	(33,423,120)	$	3,004,791

The accompanying notes are an integral part of these unaudited condensed financial statements.

Kyto Biopharma, Inc.

Condensed Statements of Operations

(Unaudited)

For the Three Months Ended

For the Nine Months Ended

Dember 31, 2017

December 31

2017

2016

2017

2016

Operating Expenses

General and administrative
$24,133
$31,079
$63,862
$70,135
Total Operating Expenses
  24,133
  31,079
  63,862
  70,135





Loss from Operations
  24,133
  31,079
  63,862
  70,135





Net Loss before taxes
  (24,133)
  (31,079)
  (63,862)
  (70,135)
Net Income (Tax) Benefit
  -
  -
  -
  -
Net Loss
$(24,133)
$(31,079)
$(63,862)
$(70,135)
Weighted average number of shares outstanding




basic and diluted
  3,139,747
  3,139,747
  3,139,747
  3,139,747





Net loss per share - basic and diluted
$(0.01)
$(0.01)
$(0.02)
$(0.02)

~~The accompanying notes are an integral part~~

Kyto Technology and Life Science, Inc.

Condensed Statements of ~~these unaudited condensed financial statements.~~

Cash Flows

(Unaudited)

		For the three months ended		For the three months ended
		June 30, 2020		June 30, 2019
CASH FLOW FROM OPERATING ACTIVITIES
Net loss	$	(38,868)	$	(201,598)
Adjustments to reconcile net loss to net cash used in operating activities
Option compensation expense		1,048		101

Changes in operating assets and liabilities
Receivables		500		-
Deferred fundraising expenses		-		(124,013)
Accounts payable and accrued liabilities		2,643		17,931
Net cash used in operating activities		(34,677)		(307,579)

CASH FLOW FROM INVESTING ACTIVITIES
Purchase of equity investments		(250,000)		(323,497)
Net cash used in investing activities		(250,000)		(323,497)

CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from sales of Series A Preferred stock		-		865,000
Proceeds from sales of Series B Preferred stock		375,000		-
Advances from related party		2,250		(2,250)
Net cash provided by financing activities		377,250		862,750

Net increase in cash		92,573		231,674

Cash at beginning of period		33,756		93,634
Cash at end of period	$	126,329	$	325,308

Supplemental Cash Flow Information:
Interest Paid	$	-	$	-
Taxes Paid	$	800	$	800

Supplemental disclosure of non-cash investing and financing activities	$	-	$	-

The accompanying notes are an integral part of these unaudited condensed financial statements.

Kyto Biopharma, Inc.

Condensed Statement of Stockholder's Deficit

For the Nine Months Ended December 31, 2017

(Unaudited)

Preferred Stock

Common Stock

Additional

$1.00 par value

$0.0001 par value

Paid - in

Accumulated

Shares

Amount

Shares

Amount

Capital

Deficit

Total

Balance, March 31, 2017
  -
$-
  3,139,747
$314
$32,063,476
$(32,289,919)
$(226,129)
Net Loss
  -
  -
  -
  -
  -
  (63,862)
  (63,862)
Balance, December 31, 2017
  -
$-
  3,139,747
$314
$32,063,476
$(32,353,781)
$(289,991)

~~The accompanying notes are an integral part~~

Kyto Technology and Lif Science Inc

Schedule of ~~these unaudited condensed financial statements.~~

investments

As of June 30, 2020

Portfolio Company	Industry	Investment and approximate ownership		Cost		Fair value		Percentage of net assets (a)
SAFE Investment – Not readily marketable
Cnote Group, Inc	Fintech	4.3 % ownership	$	51,500	$	51,500		1.71%
Mitre Medical Corp	Life Science	0.6 % ownership		75,000		75,000		2.50%
Total SAFE Investment – Not readily marketable			$	126,500	$	126,500		4.21%

Preferred Stock Investment – Not readily marketable
Shyft (FKA Crater Group Inc)	Technology	3.4 % ownership	$	51,500	$	51,500		1.71%
Colabs Inc	Life Science	5.0 % ownership		50,000		50,000		1.66%
Neuroflow Inc	Life Science	7.5 % ownership		150,000		150,000		4.99%
FemtoDX Inc	Life Science	42,436 series A preferred stock – 5.0 % ownership		100,000		100,000		3.33%
Deep Blue Medical Advances Inc	Life Science	10,431 series A preferred stock – 1.0 % ownership		49,997		49,997		1.66%
Otomagnetics Inc	Life Science	3.3 % ownership		100,000		100,000		3.33%
Trellis Bioscience LLC	Life Science	0.5 % ownership		50,000		50,000		1.66%
Valfix Medical Inc	Life Science	2.9 % ownership		50,000		50,000		1.66%
Trellis Bioscience LLC	Life Science	0.5 % ownership		50,000		50,000		1.66%
Lowell Therapeutics Inc	Life Science	5.0 % ownership		50,000		50,000		1.66%
Altis Biosystems Inc	Life Science	0.6% ownership		50,000		50,000		1.66%

Total Preferred Stock Investment – Not readily marketable			$	751,497	$	751,497		25.01%

Common Stock Investment – Not readily marketable
Boardwalk Tech	Technology	150,000 units of common stock and warrant – 4.9% ownership	$	73,500	$	73,500		2.45%
Total Common Stock Investment – Not readily marketable			$	73,500	$	73,500		2.45%

Other Investment – Not readily marketable
Exodos Life Sciences LP	Life Science	General Partnership Class A-1 Unit – 1.5 % ownership	$	206,000	$	206,000		6.86%
Enduralock LLC	Technology	Unit of LLC - 1.5 % ownership		30,000		30,000		1.00%
Green Sun Medical LLC	Life Science	Class A-1 units @ $22.80 per unit		50,000		50,000		1.66%
Green Sun Medical LLC	Life Science	Class A-1 units @ $22.80 per unit		25,000		25,000		0.83%
Green Sun Medical LLC	Life Science	Class A-1 units @ $22.80 per unit		25,000		25,000		0.83%

Total Other Investment – Not readily marketable			$	336,000	$	336,000		11.18%

Convertible Loan Investment – Not readily marketable
Seal Rock Therapeutics, Inc.	Life Science	Convertible note, 5%, no fixed term	$	78,000	$	78,000		2.60%
Achelios Therapeutics Inc.	Life Science	Convertible note, 8%, due December 31, 2021		100,000		100,000		3.33%
Sensing Electromagnetic Plus corp	Technology	Convertible note, 6%, due August 29, 2020		50,000		1		0.00%
INBay Technology Inc	Technology	Convertible note, 24%, due October 26, 2020		50,000		50,000		1.66%
Basepaws Inc	Technology	Convertible note, 1%, due April 30, 2020		50,000		50,000		1.66%
Kitotech Medical Inc	Life Science	Convertible note, 6%, due December 19, 2020		100,000		100,000		3.33%
Sensing Electromagnetic Plus corp	Technology	Convertible note, 5%, due January 24, 2021		11,048		1		0.00%
Cnote Group, Inc	Fintech	Convertible note, 4%, due December 18, 2020		50,000		50,000		1.66%
Promaxo, Inc.	Life Science	Convertible note, 8%, due September 1, 2020		250,000		250,000		8.32%
Shyft (FKA Crater Group Inc)	Technology	Convertible note, 8%, due March 18, 2020		50,000		50,000		1.66%
Achelios Therapeutics Inc.	Life Science	Convertible note, 8%, due December 31, 2021		25,000		25,000		0.83%
SageMedic Corp	Life Science	Convertible note, 8%, due April 12, 2021		50,000		50,000		1.66%
Beam Semiconductor Inc	Technology	Convertible note, 8%, due June 30, 2020		150,000		150,000		4.99%
INBay Technology Inc	Technology	Convertible note, 12%, due July 9, 2021		30,000		30,000		1.00%
Lifewave Biomedical Inc	Life Science	Convertible note, 6%, due December 31, 2020		30,000		30,000		1.00%
Cyberdontics Inc	Life Science	Convertible note, 8%, due September 4, 2022		30,000		30,000		1.00%
Light Line Medical Inc	Life Science	Convertible note, 8%, due September 9, 2021		30,000		30,000		1.00%
Visgenx Inc	Life Science	Convertible note, 6%, due December 31, 2020		30,000		30,000		1.00%
Every Key Inc	Technology	Convertible note, 5%, due December 11, 2023		100,000		100,000		3.33%
Achelios Therapeutics Inc.	Life Science	Convertible note, 8%, due December 31, 2021		50,000		50,000	1.66%
Lifewave Biomedical Inc	Life Science	Convertible note, 6%, due December 31, 2020		70,000		70,000	2.33%
Light Line Medical Inc	Life Science	Convertible note, 8%, due February 10, 2022		70,000		70,000	2.33%
INBay Technology Inc	Technology	Convertible note, 12%, due February 21, 2022		50,000		50,000	1.66%
Cyberdontics Inc	Life Science	Convertible note, 8%, due February 27, 2023		35,000		35,000	1.16%
Xpan Inc	Life Science	Convertible note, 8%, due March 4, 2022		50,000		50,000	1.66%
Beam Semiconductor Inc	Technology	Convertible note, 8%, due March 5, 2021		50,000		50,000	1.66%
Xpan Inc	Life Science	Convertible note, 8%, due March 4, 2022		25,000		25,000	0.83%
Xpan Inc	Life Science	Convertible note, 8%, due March 4, 2022		25,000		25,000	0.83%

Total Convertible Loan Investment - Not readily marketable				1,689,048		1,628,002	54.18%

Total			$	2,976,545	$	2,915,499	97.03%

(a) Percentages are based on net assets of $3,004,791 as of June 30, 2020

Kyto Biopharma, Inc.

Condensed Statements of Cash Flows

(Unaudited)

For the Nine Months Ended December 31,

2017

2016

Cash Flows from Operating Activities:

Net loss
$(63,862)
$(70,135)
Adjustment to reconcile net loss to net cash used in operating activities:





Changes in operating liabilities:


Accrued liabilities - related party
  48,000
  48,000
Accrued liabilities
  (5,000)
  (7,500)
Accounts payable and accrued expenses
  (22)
  326
Net Cash Used in Operating Activities
  (20,884)
  (29,309)



Cash Flows from Investing Activities:





Net Cash Used in Investing Activities
  -
  -



Cash Flows from Financing Activities:


Loan proceeds from related parties, net
  20,960
  29,286
Net Cash Provided by Financing Activities
  20,960
  29,286



Net increase (decrease) in Cash and Cash Equivalents
  76
  (23)



Cash and Cash Equivalents at Beginning of Period
  -
  32



Cash and Cash Equivalents at End of Period
$76
$9



Supplemental Disclosure of Cash Flow Information:


Cash paid for:


Interest
$-
$-
Income taxes
$-
$-

~~The accompanying notes are an integral part~~

Kyto Technology and Lif Science Inc

Schedule of ~~these unaudited condensed financial statements.~~

investments

As of March 31, 2020

Portfolio Company	Industry	Investment and approximate ownership		Cost		Fair value	Percentage of net assets (a)
SAFE Investment - Not readily marketable
Cnote Group, Inc	Fintech	4.3 % ownership	$	51,500	$	51,500	1.9%
Mitre Medical Corp	Life Science	0.6 % ownership		75,000		75,000	2.8%
Total SAFE Investment - Not readily marketable			$	126,500	$	126,500	4.7%

Preferred Stock Investment - Not readily marketable
Shyft (FKA Crater Group Inc)	Technology	3.4 % ownership	$	51,500	$	51,500	1.9%
Colabs Inc	Life Science	5.0 % ownership		50,000		50,000	1.9%
Neuroflow Inc	Life Science	7.5 % ownership		150,000		150,000	5.6%
FemtoDX Inc	Life Science	42,436 series A preferred stock - 5.0 % ownership		100,000		100,000	3.7%
Deep Blue Medical Advances Inc	Life Science	10,431 series A preferred stock - 1.0 % ownership		49,997		49,997	1.9%
Otomagnetics Inc	Life Science	3.3 % ownership		100,000		100,000	3.7%
Trellis Bioscience LLC	Life Science	0.5 % ownership		50,000		50,000	1.9%
Valfix Medical Inc	Life Science	2.9 % ownership		50,000		50,000	1.9%
Trellis Bioscience LLC	Life Science	0.5% ownership		50,000		50,000	1.9%
Total Preferred Stock Investment - Not readily marketable			$	651,497	$	651,497	24.4%

Common Stock Investment - Not readily marketable
Boardwalk Tech	Technology	150,000 units of common stock and warrant - 4.9% ownership	$	73,500	$	73,500	2.8%
Total Common Stock Investment - Not readily marketable			$	73,500	$	73,500	2.8%

Other Investment - Not readily marketable
Exodos Life Sciences LP	Life Science	General Partnership Class A-1 Unit - 1.5 % ownership	$	206,000	$	206,000	7.7%
Enduralock LLC	Technology	Unit of LLC - 1.5 % ownership		30,000		30,000	1.1%
Total Other Investment - Not readily marketable			$	236,000	$	236,000	8.8%

Convertible Loan Investment - Not readily marketable
Seal Rock Therapeutics, Inc.	Life Science	Convertible note, 5%, no fixed term	$	78,000	$	78,000	2.9%
Achelios Therapeutics Inc.	Life Science	Convertible note, 8%, due December 31, 2021		100,000		100,000	3.7%
Sensing Electromagnetic Plus corp	Technology	Convertible note, 6%, due August 29, 2020		50,000		1	0.0%
INBay Technology Inc	Technology	Convertible note, 24%, due October 26, 2020		50,000		50,000	1.9%
Basepaws Inc	Technology	Convertible note, 1%, due April 30, 2020		50,000		50,000	1.9%
Kitotech Medical Inc	Life Science	Convertible note, 6%, due December 19, 2020		100,000		100,000	3.7%
Sensing Electromagnetic Plus corp	Technology	Convertible note, 5%, due January 24, 2021		11,048		1	0.0%
Cnote Group, Inc	Fintech	Convertible note, 4%, due December 18, 2020		50,000		50,000	1.9%
Promaxo, Inc.	Life Science	Convertible note, 8%, due September 1, 2020		250,000		250,000	9.4%
Shyft (FKA Crater Group Inc)	Technology	Convertible note, 8%, due March 18, 2020		50,000		50,000	1.9%
Achelios Therapeutics Inc.	Life Science	Convertible note, 8%, due December 31, 2021		25,000		25,000	0.9%
SageMedic Corp	Life Science	Convertible note, 8%, due April 12, 2021		50,000		50,000	1.9%
Beam Semiconductor Inc	Technology	Convertible note, 8%, due June 30, 2020		150,000		150,000	5.6%
INBay Technology Inc	Technology	Convertible note, 12%, due July 9, 2021		30,000		30,000	1.1%
Lifewave Biomedical Inc	Life Science	Convertible note, 6%, due December 31, 2020		30,000		30,000	1.1%
Cyberdontics Inc	Life Science	Convertible note, 8%, due September 4, 2022		30,000		30,000	1.1%
Light Line Medical Inc	Life Science	Convertible note, 8%, due September 9, 2021		30,000		30,000	1.1%
Visgenx Inc	Life Science	Convertible note, 6%, due December 31, 2020		30,000		30,000	1.1%
Every Key Inc	Technology	Convertible note, 5%, due December 11, 2023		100,000		100,000	3.7%
Achelios Therapeutics Inc.	Life Science	Convertible note, 8%, due December 31, 2021		50,000		50,000	1.9%
Lifewave Biomedical Inc	Life Science	Convertible note, 6%, due December 31, 2020		70,000		70,000	2.6%
Light Line Medical Inc	Life Science	Convertible note, 8%, due February 10, 2022		70,000		70,000	2.6%
INBay Technology Inc	Technology	Convertible note, 12%, due February 21, 2022		50,000		50,000	1.9%
Cyberdontics Inc	Life Science	Convertible note, 8%, due February 27, 2023		35,000		35,000	1.3%
Xpan Inc	Life Science	Convertible note, 8%, due March 4, 2022		50,000		50,000	1.9%
Beam Semiconductor Inc	Technology	Convertible note, 8%, due March 5, 2021		50,000		50,000	1.9%
Total Convertible Loan Investment - Not readily marketable				1,639,048		1,578,002	59.2%

Total			$	2,726,545	$	2,665,499	99.9%

(a) Percentages are based on net assets of $2,667,611 as of March 31, 2020

KYTO ~~BIOPHARMA,~~TECHNOLOGY AND LIFE SCIENCE INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

~~December 31, 2017~~

June 30, 2020

NOTE 1 – DESCRIPTION OF BUSINESS ~~AND BASIS OF PRESENTATION~~

Kyto ~~Biopharma,~~Technology and Life Science, Inc. was formed as a Florida corporation on March 5, ~~1999. On~~1999 under the name of B Twelve Inc. In August, ~~14,~~ 2002, the Company changed its name from B Twelve, Inc. to Kyto ~~Biopharma,~~BioPharma Inc.

and in May 2018, the name was changed again to Kyto Technology and Life Science, Inc. In July 2019, the Company was re-incorporated as a Delaware company. The Company ~~is a biopharmaceutical company,~~operates virtually, from public locations, or the homes of its officers and not lease any office space.

The Company was originally formed to acquire and develop innovative minimally toxic and non-immunosuppressive proprietary drugs for the treatment of cancer, arthritis, and other ~~proliferate~~autoimmune diseases and ~~autoimmune diseases. The Company is currently in the development stage as it is in the process of~~had been looking at a number of strategies to become active. ~~Once~~In April, 2018, the Board adopted a new business plan focused on the development of early stage technology and life science businesses through early stage investment funding. The Company has recruited a number of experienced investment consultants from a network that includes angel investors, corporate managers, and successful entrepreneurs across a number of technology and life science products and markets and relies on input from these advisors in conducting due diligence and making investment decisions. In order to offset the risk in early stage investing, the Company works with angel investment groups and participates only after these groups have completed due diligence and committed to invest, and does not typically invest more than $250,000 in any single investment. Generally, the Company’s investments represent less than 5% ownership interests, and the Company therefore has no effective control or influence over the management or commercial decisions of the Companies in which it invests. The Company plans to generate revenue from realised gains from the sale of the businesses in which it has ~~settled~~invested. Generally, it is expected that investments will be realised from an exit within a period of four years following investment. Such sales are outside its control and depend on M&A transactions which may result in cash or equity proceeds. Accordingly, it is difficult to forecast revenue, net income, and cash flow. In 2018, the ~~strategy,~~Company developed a business plan to make investments in early stage private companies. At March 31, 2020, management determined that the Company was an investment company for purposes of ASC 946 disclosure, and committed to follow the specialized accounting and reporting guidance of contained therein. Other than making its initial investments in its portfolio companies, the Company does not provide any financial support to any of its investees.

The Company has no regular employees, full-time or part-time. . The chief executive officer of Kyto Technology and Life Science, Inc. is acting as a consultant to the Company and does not receive contractual compensation for his services in the form of cash. In the year ended March 31, 2020 he was granted 800,000 stock options as incentive compensation and an ex gratia bonus of $216,000 in recognition of his performance in raising funding, performance of due diligence, and making investments.

The Company has created a portfolio of minority investments in early-stage start-up companies and derives its revenue opportunity from the sale of those investments. Such sales are outside its control and depend on M&A transactions which may result in cash or equity proceeds. Accordingly, it is difficult to forecast revenue, net income, and cash flow. The Company currently has approximately $126,000 in the bank and is now actively marketing the first $3 million tranche of a Series B round with a target close date of September 2020. The average monthly expenses for the three months ended June 30, 2020 were approximately $13,000 per month so the Company has sufficient cash to fund its operations through the close of its Series B round if it simply manages its existing investments. However it plans to ramp up monthly expenditure to market and ensure the success of the Series B round, whereupon, if successful it will have sufficient funding for further investments and ongoing operations. In the event that the Series B close is delayed, management has the ability to slow down expenditure and defer future investment opportunities to balance its cash flow accordingly. While there is a degree of uncertainty in this business model, the Company has two viable alternative options to ensure continuity of liquidity and ongoing operations. However, there is no assurance that the Company will ~~develop~~be able to continue as a ~~plan~~going concern, and stay at home orders, and general economic uncertainties arising out of the current Covid-19 epidemic create additional delay and uncertainty.

KYTO TECHNOLOGY AND LIFE SCIENCE INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

June 30, 2020

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

(A)BASIS OF PRESENTATION

The accompanying unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for ~~an acquisition~~interim financial information with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, these unaudited condensed financial statements do not include all of the information and disclosures required by U.S. GAAP for complete financial statements. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments (consisting only of normal recurring adjustments), which the Company considers necessary, for a fair presentation of those financial statements. The results of operations and cash flows for the three months ended June 30, 2020 may not necessarily be indicative of results that may be expected for any succeeding quarter or for the entire fiscal year. The information contained in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements of the Company for the year ended March 31, 2020, included in the Annual Report on Form 10-K as filed with the Securities and Exchange Commission (the “SEC”) on June 30, 2020

The company’s financial statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP), which requires the use of estimates, assumptions and the ~~means~~exercise of subjective judgment as to ~~achieve~~future uncertainties. Actual results could differ from those estimates, assumptions, and judgments. Significant items subject to such estimates will include determining the fair value of investments, revenue recognition, income tax uncertainties, stock-based compensation, and other contingencies.

The company’s financial statements are prepared using the specialized accounting principles of Accounting Standards Codification Topic 946, Financial Services—Investment Companies (ASC Topic 946). In accordance with this specialized accounting guidance, the company recognizes and carries all of its ~~goal.~~

~~Activities during~~investments at fair value with changes in fair value recognized in earnings. Additionally, the ~~development stage include acquisition~~company will not apply consolidation or equity method of ~~financing~~accounting to its investments. The company carries its liabilities at amounts payable, net of unamortized premiums or discounts. The company does not currently plan to elect to carry its liabilities at fair value. Net assets are calculated as the carrying amounts of assets, including the fair value of investments, less the carrying amounts of its liabilities.

The financial information associated with the June 30, 2020 and ~~intellectual properties~~March 31, 2020 financial statements contain all adjustments and ~~research~~eliminations, consisting of only normal recurring adjustments, necessary for a fair presentation in accordance with GAAP.

(B)REVENUE RECOGNITION

The Company derives revenue from the sale of investments and ~~development~~occasional fees earned from the provision of financial advisory services to portfolio investment companies. As a minority, early-stage investor, the Company does not have the ability to manage the timing or acceptance of liquidity events that will realize its investments, nor the ability to predict when they may happen, although as a guideline, it would expect such events to occur around four years after its investments are made. The Company will book the revenue from investment activities ~~conducted by others~~upon completion of sale and receipt of net proceeds, after deducting related transaction expenses. The Company does not recognize any revenue from unrealized gains. The Company is in regular contact with the management of its portfolio investment companies to provide the basis for impairment reviews, and forecasting future revenue and fund raising needs.

(C)INCOME TAXES

The Company accounts for income taxes under ~~contracts.~~

the Financial Accounting Standards Accounting Standard Codification Topic 740 "Accounting for Income Taxes" ("Topic 740"). Under Topic 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under Topic 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period, which includes the enactment date.

(D)USE OF ESTIMATES

In preparing financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the period presented. Actual results may differ from these estimates.

KYTO TECHNOLOGY AND LIFE SCIENCE INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

June 30, 2020

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Significant estimates during ~~2017~~the three months ended June 30, 2020 and March 31, 2020 include the valuation ~~allowance~~ of investment valuation, deferred tax ~~assets.~~

asset, tax valuation allowance, stock options and warrants.

(E)CASH AND CASH EQUIVALENTS

The Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents. There were no cash equivalents at ~~December 31, 2017~~June 30, 2020 and March 31, ~~2017,~~2020, respectively.

(F)CONCENTRATIONS

The Company maintains its cash in bank checking and deposit accounts, which, at times, may exceed federally insured limits. As of ~~December~~June 30, 2020 and March 31, ~~2017,~~2020, the Company did not have any deposits in excess of federally insured limits. The Company has not experienced any losses in such accounts through ~~December 31, 2017~~June 30, 2020 and March 31, ~~2017,~~2020, respectively.

(G)STOCK-BASED COMPENSATION

Financial Accounting Standards Board Accounting Standards Codification Topic 718, “Stock Compensation” requires generally that all equity awards granted to employees and consultants be accounted for at “fair value.” This fair value is measured at grant date for stock settled awards, and at subsequent exercise or settlement for cash-settled awards. Under this method, the Company records an expense equal to the fair value of the options or warrants issued. The fair value is computed using the Black Scholes options pricing model. The Company ~~has obtained~~granted 120,000 and ~~continues~~0 options to ~~obtain a large amount of its funding from loans~~consultants and ~~equity funding from a principal stockholder related to a director of~~advisors during the ~~Company.~~

three months ended June 30, 2020 and June 30, 2019, respectively.

(H)NET LOSS PER COMMON SHARE

In accordance with Statement of Financial Accounting Standards Accounting Standard Codification Topic 260, "Earnings per Share", basic earnings per share is computed by dividing the net income less preferred dividends for the period by the weighted average number of common shares outstanding. Diluted earnings per share is computed by dividing net income less preferred dividends by the weighted average number of common shares outstanding including the effect of common stock equivalents. Common stock equivalents, consisting of preferred stock, stock options and warrants, have not been included in the calculation, as their effect is anti-dilutive for the periods presented.

Number of shares used in calculation of diluted EPS
Common stock	5,836,832
Series A preferred stock	4,200,000
Series B preferred stock	1,281,250
Stock option	1,490,000
Warrant	4,200,000
	17,008,082

(I)INVESTMENT AND VALUATION OF INVESTMENT AT FAIR VALUE

The Company reviews the performance of the underlying investments including, management reports, press releases, web site announcements and progress reports, Carta equity updates, management interviews and, where accessible, financial reports, to determine their current and future potential value and liquidity. In the event that Management considers the value of an investment to be impaired, the carrying value of the investment will be written down by an impairment charge to reflect Management’s estimated valuation. The Company recognized impairment of one of its investments which was written down by $61,046 in September 2019. The Company has not experienced any impairment write-downs in any prior or subsequent periods.

The Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures”, for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing US GAAP that require the use of fair value measurements which establishes a framework for measuring fair value and expands disclosure about such fair value measurements.

KYTO ~~BIOPHARMA,~~TECHNOLOGY AND LIFE SCIENCE INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

~~December 31, 2017~~

June 30, 2020

NOTE 2 ~~– INTERIM REVIEW REPORTING~~

~~The accompanying unaudited condensed financial statements of Kyto Biopharma, Inc. (the "Company") have been prepared pursuant~~- BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value is an exchange price notion under which fair value is the ~~rules and regulations of the Securities and Exchange Commission (the "SEC”). Certain information and footnote disclosures, normally included~~price in ~~financial statements prepared in accordance with accounting principles generally accepted~~an orderly transaction between market participants to sell an asset or transfer a liability in the ~~United States of America have been condensed or omitted pursuant to such SEC rules and regulations. Nevertheless,~~market in which the Company believes that the disclosures are adequate to make the information presented not misleading. These interim unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company's March 31, 2017 Annual Report as filed on Form 10K. In the opinion of management, all adjustments, including normal recurring adjustments necessary to present fairly the financial position of the Company with respect to the interim unaudited condensed financial statements and the results of its operationsreporting entity would transact for the ~~interim period ended December 31, 2017, have been included. The results of operations for interim periods are not necessarily indicative of the results for a full year.~~

~~NOTE 3~~– ~~GOING CONCERN~~

As reflected in the accompanying unaudited condensed financial statements, the Company has a working capital deficiency of $289,991, an accumulated deficit of $32,353,781, and a stockholders' deficit of $289,991 as of December 31, 2017. The ability of the Company to continue as a going concern is dependent on the Company's ability to devise a strategy and produce a business plan. The unaudited condensed financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

asset or liability.

The Company has ~~yet~~established procedures to ~~generate an internal cash flow, and until~~estimate the ~~sales~~fair value of its ~~product begins,~~investments which the company’s board of directors has reviewed and approved. The company will use observable market data to estimate the fair value of investments to the extent that market data is available. In the absence of quoted market prices in active markets, or quoted market prices for similar assets or in markets that are not active, the company will use the valuation methodologies described below with unobservable data based on the best available information in the circumstances, which incorporates the company’s assumptions about the factors that a market participant would use to value the asset.

For investments for which quoted market prices are not available, which will comprise most of our investment portfolio, fair value will be estimated by using the income or market approach. The income approach is based on the assumption that value is created by the expectation of future benefits discounted to a current value and the fair value estimate is the amount an investor would be willing to pay to receive those future benefits. The market approach compares recent comparable transactions to the investment. Adjustments are made for any dissimilarity between the comparable transactions and the investments. These valuation methodologies involve a significant degree of judgment on the part of our management and board.

In determining the appropriate fair value of an investment using these approaches, the most significant information and assumption may include, as applicable: available current market data, including relevant and applicable comparable market transactions, applicable market yields and multiples, security covenants, call protection provisions, information rights, the nature and realizable value of any collateral, the investment’s ability to make payments, its earnings and discounted cash flows, the markets in which the project does business, comparisons of financial ratios of peer companies that are public, merger and acquisition comparable, the principal market and enterprise values, environmental factors, among other factors.

The estimated fair values will not necessarily represent the amounts that may be ultimately realized due to the occurrence or nonoccurrence of future circumstances that cannot be reasonably determined. Because of the inherent uncertainty of the valuation of the investments, the estimate of fair values may differ significantly from the value that would have been used had a broader market for the investments existed.

The authoritative accounting guidance prioritizes the use of market-based inputs over entity-specific inputs and establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation. The three levels of valuation hierarchy are defined as follows:

Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities

Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data

Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions.

(J)SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS

In March 2020, the Company ~~is highly dependent upon debt~~adopted Accounting Standards Codification Topic 946, Financial Services—Investment Companies (ASC Topic 946). In accordance with this specialized accounting guidance, the company recognizes and carries all of its investments at fair value with changes in fair value recognized in earnings. Additionally, the company will not apply consolidation or equity ~~funding. The Company must successfully complete~~method of accounting to its research and development resulting in a saleable product. However, there is no assurance that once the development of the product is completed and finally gains Federal Drug and Administration clearance, that the Company will achieve a profitable level of operations.

~~NOTE 4~~– ~~ACCOUNTING STANDARDS UPDATES~~

~~Significant Recent Accounting Pronouncements~~

investments.

Management does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying ~~unaudited condensed~~ financial statements.

KYTO TECHNOLOGY AND LIFE SCIENCE INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

June 30, 2020

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

(K)VOLUNTARY CHANGE IN ACCOUNTING PRINCIPLE

During the fourth quarter of fiscal 2020, the Company made a voluntary change in accounting principle by preparing the company’s financial statements using the specialized accounting principles of Accounting Standards Codification Topic 946, Financial Services—Investment Companies (ASC Topic 946).

The Company made this voluntary change in principle because it believes that the Company now met the characteristics and requirement of being an investment company under ASC 946, and the presentation under ASC 946 better reflects the business purpose and enhances the comparability of its financial statements with many of its industry peers. In accordance with U.S. GAAP, the change was reflected in the financial statements through retrospective application as follows:

		June 30, 2019
		Prior to		Effect of
		Change		Change		Adjusted
Cash	$	325,308	$	-	$	325,308
Receivable		1,000		-		1,000
Investment		-		1,821,545		1,821,545
Deferred fundraising expenses		124,013		-		124,013
Current assets		450,321		1,821,545

Investment		1,821,545		(1,821,545)		-
Total assets	$	2,271,866	$	-	$	2,271,866

There have been no further changes in the three months ended June 30, 2020.

NOTE 3 – COMMITMENTS AND CONTINGENCIES

The Company has no commitments or contingencies.

~~(A)~~

~~– Loans Payable- Related Party~~

~~During the nine months ended December 31, 2017, the Company received a net loan from a related party in the amount of $20,960.~~

At ~~December 31, 2017~~June 30, 2020 and March 31, ~~2017,~~2020, the Company had accrued and owed ~~$89,067~~$8,000 and ~~$68,107,~~$5,750, respectively, to ~~a related party~~officers of the ~~Company.~~ Company for service fees, telephone and car allowance.

NOTE 5 INVESTMENTS

The ~~loans are non-interest bearing, unsecured and due on demand. The loans are included in loans payable, related party on~~following table summarizes the ~~accompanying balance sheet.~~

~~(B)~~

~~– Accrued liabilities -Related Party~~

The Company leases office space and administrative services from a related party principal stockholder. Rent and administrative expense for the nine months ended December 31, 2017 and 2016 was $30,000 and $30,000, respectively and is included in general and administrative expense in the accompanying statements of operations.

Directors’ fees are also included in Accrued liabilities – related parties. Directors’ fees for the nine months ended December 31, 2017 and 2016 were $18,000 and $18,000, respectively and is included in general and administrative expense in the accompanying statements of operations. As of December 31, 2017Company’s investment portfolio at June 30, 2020 and March 31, ~~2017, the remaining balance in the accrued liabilities-related party account for the above services was $196,000 and $148,000, respectively.~~

2020.

		June 30, 2020			March 31, 2020
Number of portfolio companies		31			28
Fair value	$	2,915,499		$	2,665,499
Cost	$	2,976,545			2,726,545
% of portfolio at fair value
Convertible notes		1,578,002	54%		1,528,002	57%
Preferred stock		801,497	27%		701,497	26%
Common stock		126,500	4%		126,500	5%
SAFE		73,500	3%		73,500	3%
Other ownership units		336,000	12%		236,000	9%
Total	$	2,915,499	100%		2,665,499	100%

KYTO ~~BIOPHARMA,~~TECHNOLOGY AND LIFE SCIENCE INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

~~December~~

June 30, 2020

NOTE 5 INVESTMENTS (CONTINUED)

Our investment portfolio represents approximately 97.0% of our net assets at June 30, 2020 and 99.9% at March 31, ~~2017~~

~~NOTE 6~~ – ~~EQUITY~~

~~(A)~~

–~~PREFERRED STOCK~~

As2020 Investments in early stage start up private operating entities, are valued based on available metrics, such as relevant market multiples and comparable company valuations, company specific-financial data including actual and projected results and independent third party valuation estimates.

The following table presents fair value measurements of ~~December 31, 2017,~~investments, by major class, as of June 30, 2020 and March 31, ~~2017,~~2020, according to the fair value hierarchy:

June 30, 2020
Description	Level 1		Level 2		Level 3		Total
Corporate convertible loan	$	-	$	-	$	1,628,002	$	1,628,002
Corporate equity investments		-		-		1,287,497		1,287,497
Total investments, at fair value	$	-	$	-	$	2,915,499	$	2,915,499

March 31, 2020
Description	Level 1		Level 2		Level 3		Total
Corporate convertible loan	$	-	$	-	$	1,578,002	$	1,578,002
Corporate equity investments		-		-		1,087,497		1,087,497
Total investments, at fair value	$	-	$	-	$	2,665,499	$	2,665,499

We focus on making our investments in the United States, Canada and Israel. The investment in Canada and Israel were denominated and can be settled in USD.

As of June 30, 2020
	America			Canada		Israel		Total
Fair value beginning of period	$		2,170,499	$	245,000	$	250,000	$	2,665,499
New investments			200,000		50,000		-		250,000
Proceeds from sale of investments			-		-		-		-
Realized gains			-		-		-		-
Write down of investment			-		-		-		-
Fair value June 30, 2020	$		2,370,499	$	295,000	$	250,000	$	2,915,499
As of March 31, 2020
	America			Canada		Israel		Total
Fair value beginning of year	$	1,448,048		$	50,000	$	-	$	1,498,048
New investments		783,497			195,000		250,000		1,228,497
Proceeds from sale of investments		-			-		-		-
Realized gains		-			-		-		-
Write down of investment		(61,046)			-		-		(61,046)
Fair value March 31, 2020	$	2,170,499		$	245,000	$	250,000	$	2,665,499

KYTO TECHNOLOGY AND LIFE SCIENCE INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

June 30, 2020

NOTE 5 INVESTMENTS (CONTINUED)

Working on the experience of our technical advisors, we limit our investments to fintech, technology, and life sciences.

As of June 30, 2020
	Fintech			Technology		Life science		Total
Fair value beginning of period	$	101,500		$	685,002	$	1,878,997	$	2,665,499
New investments		-			-		250,000		250,000
Proceeds from sale of investments		-			-		-		-
Realized gains		-			-		-		-
Write down of investment		-			-		-		-
Fair value June 30, 2020	$	101,500		$	685,002	$	2,128,997	$	2,915,499

As of March 31, 2020
	Fintech			Technology		Life science		Total
Fair value beginning of year	$		101,500	$	262,548	$	1,134,000	$		1,498,048
New investments			-		483,500		744,997			1,228,497
Proceeds from sale of investments			-		-		-			-
Realized gains			-		-		-			-
Write down of investment			-		(61,046)		-			(61,046)
Fair value March 31, 2020	$		101,500	$	685,002	$	1,878,997	$		2,665,499

We invest in early stage private companies developing products or solutions in the fields of fintech, technology and life sciences. Typically we are investing in interest bearing notes that may be convertible into equity securities upon the completion of qualified subsequent financings, preferred stock, SAFEs or other forms of ownership.

		Convertible notes		Preferred stock		Common stock		SAFEs		Other ownership interests		Total
As of June 30, 2020
Fair value beginning of period	$	1,528,002	$	701,497	$	126,500	$	73,500	$	236,000	$	2,665,499
New investments		50,000		100,000		-		-		100,000		250,000
Proceeds from sale of investments		-		-		-		-		-		-
Realized gains		-		-		-		-		-		-
Write down of investment		-		-		-		-		-		-
Fair value June 30, 2020	$	1,578,002	$	801,497	$	126,500	$	73,500	$	336,000	$	2,915,499

		Convertible notes		Preferred stock		Common stock		SAFEs		Other ownership interests		Total
As of March 31, 2020
Fair value beginning of year	$	764,048	$	401,500	$	126,500	$	-	$	206,000	$	1,498,048
New investments		825,000		299,997		-		73,500		30,000		1,228,497
Proceeds from sale of investments		-		-		-		-		-		-
Realized gains		-		-		-		-		-		-
Write down of investment		(61,046)		-		-		-		-		(61,046)
Fair value March 31, 2020	$	1,528,002	$	701,497	$	126,500	$	73,500	$	236,000	$	2,665,499

KYTO TECHNOLOGY AND LIFE SCIENCE INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

June 30, 2020

NOTE 6– EQUITY

(A)PREFERRED STOCK

Series A

As of June 30, 2020 and March 31, 2020, there are ~~2,000,000~~4,200,000 shares ~~authorized~~of Series A preferred stock (“Series A”) designated at a par value of $.01 per share. These shares were sold as investment Units at $0.80 per Unit in a private placement to accredited investors. The Units consist of one Series A share and ~~no preferred shares~~one warrant per Unit. The Series A can either be converted at the option of the holder into Common Shares at a conversion price of $0.80 per share or it shall be converted upon listing of the Company ~~issued and outstanding.~~

~~(B)~~

– ~~COMMON STOCK~~

on Nasdaq, NYSE or OTC markets or can elect to receive $1.60 per share. In the event of any liquidation or winding up of the Company, the holders of the Series A shall be entitled to receive in preference to the holders of Common Shares, a per share amount equal to two times (2x) their original purchase price plus any declared but unpaid dividends (the Liquidation Preference currently $1.60 per share). The shares of Series A shall be non-voting. As of ~~December 31, 2017,~~June 30, 2020 and March 31, ~~2017, 3,139,747~~2020, there are 4,200,000 shares of Series A outstanding.

Series B

As of June 30, 2020 and March 31, 2020, there are, 6,000,000 shares of Series B preferred stock (“Series B”) designated at a par value of $.01 per share. These shares were sold in a private placement to accredited investors. The Series B can either be converted at the option of the holder into Common Shares at a conversion price of $0.80 per share or it shall be converted upon listing of the Company on Nasdaq, NYSE or OTC markets or the closing of one or more of a series financings resulting in aggregate proceeds of $10,000,000. In the event the Company issues additional securities at a purchase price less than the current conversion price, the conversion price shall be adjusted as defined. In the event of any liquidation or winding up of the Company, the holders of the Series B shall be entitled to receive in preference to the holders of Series A and Common Shares, a per share amount equal to the greater of i) one time (1x) their original purchase price plus any declared but unpaid dividends (the Liquidation Preference – currently $0.80 per share) or ii) such amount per share as would have been payable had all shares of Series B been converted into common stock immediately prior to such liquidating event. The shares of Series B shall be voting on an as-converted basis with the common stock. As of June 30, 2020 and March 31, 2020, there are, respectively, 1,281,250 and 812,500 shares of Series B outstanding.

(B)COMMON STOCK

The Company has authorized 40,000,000 shares of common stock at a par value of $0.01 per share. As of June 30, 2020, and March 31, 2020 a total of 5,836,832 shares of the Company’s common stock were issued and outstanding. The Company sold 468,750 shares of Series B preferred for $375,000 during the three months ended June 30, 2020.

(C)STOCK OPTIONS

In April 2018, the Company approved the introduction of the Kyto Technology and Life Science, Inc. Incentive Stock Option Plan for the benefit of employees, consultants and directors, with the objective of securing the benefit of services for stock options rather than cash salaries.

In July 2019, the majority of the shareholders of the Company approved the introduction of the Kyto Technology and Life Science 2019 Stock Option and Incentive Plan (“Plan”), and reserved 2 million shares for issuance to directors, officers, consultants and advisors. During the three months ended June 30, 2020, and June 30, 2019, the Company issued a total of 120,000 and 0 non-qualified stock options to consultants and advisors vesting over terms of two years.

KYTO TECHNOLOGY AND LIFE SCIENCE INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

June 30, 2020

NOTE 6– EQUITY (CONTINUED)

	Number of options granted	Weighted average exercise price	Weighted average remaining life years
Outstanding March 31, 2019	-	$ -	-
Granted	1,370,000	0.033	2.32
Exercised	-	-	-
Cancelled	-	-	-
Outstanding March 31, 2020	1,370,000	$ 0.033	2.32
Granted	120,000	0.033	2.00
Exercised	-	-	-
Cancelled	-	-	-
Outstanding June 30, 2020	1,490,000	$ 0.033	1.73

Exercisable March 31, 2020	619,863	$ 0.03	1.42
Exercisable June 30, 2020	827,988	$ 0.03	1.59

In connection with the grant of stock options the Company recognises the value of the related option expense using the Black Scholes model, with appropriate assumptions for option life, stock value, risk free interest rate, volatility, and cancellations.

		June 30, 2020
Stock Price at grant date	$	0.033
Exercise Price	$	0.033
Term in Years		232
Volatility assumed		71%
Annual dividend rate		0.0%
Risk free discount rate		2.00%

The compensation expense calculated at time of grant is amortised over the vesting period for the options granted. During the three months ended June 30, 2020 and 2019, the Company amortised $1,048 and $101, respectively, as option expense. The intrinsic value of outstanding options at June 30, 2020 was $20,132, and $7,194 of the option expense upon grant remained unamortized at June 30, 2020.

KYTO TECHNOLOGY AND LIFE SCIENCE INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

June 30, 2020

NOTE 6– EQUITY (CONTINUED)

(D)WARRANTS

In conjunction with the sale of stock Units, the Company issued 4,200,000 warrants to purchase common stock at a price of $1.20 per share for a period of three years. The Company values the warrantsusing the Black Scholes model, with appropriate assumptions for warrant life, stock value, risk free interest rate, and volatility.

		Number of Warrants		Weighted Average Exercise price	Weighted Average Remaining life in years
Outstanding March 31, 2019	$	2,612,500			2.4
Granted	$	1,587,500	$	1.20	3.0
Exercised		-
Cancelled		-
Outstanding March 31, 2020		4,200,000	$	1.20	1.9
Granted		-	$	-	-
Exercised		-
Cancelled		-
Outstanding June 30, 2020		4,200,000	$	1.20	1.7

Exercisable March 31, 2020		4,200,000	$	1.20
Exercisable June 30, 2020		4,200,000	$	1.20

The assumptions used for warrants granted in the three months ended June 30, 2019 were as follows:

		June 30, 2020
Stock Price at valuation	$	0.006
Exercise Price	$	1.20
Term in Years		3.00
Volatility assumed		73.0%
Annual dividend rate		0.0%
Risk free discount rate		1.79%

At June 30, 2019 the value of the warrants was $0 as the Company did not bifurcate the value of Series A and warrants within the Units sold. The weighted average remaining life of the warrants at June 30, 2020 was 1.7 years. The intrinsic value of outstanding warrants at June 30, 2020 was $0.

KYTO TECHNOLOGY AND LIFE SCIENCE INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

June 30, 2020

NOTE 7 – FINANCIAL HIGHLIGHTS

		June 30, 2020			June 30, 2019
Net asset value per share (a)	$	0.51		$	0.38
Net loss per share (a)	$	0.01		$	0.03
Net realized and unrealized gain (loss) on investments per share (a)	$	-		$	-

Ratios and Supplemental Data
Net assets, end of period	$	3,004,791		$	2,227,235

Common shares outstanding, end of period		5,836,832			5,836,832

Total operating expenses/net assets		1.3	%		9.2
Net loss/net assets		1.3	%		9.1
Interest expense and bank fees		-	%		-

(a) Per Share Data is based on weighted average number of common shares outstanding for the period.

NOTE 7–8 - SUBSEQUENT EVENTS

~~None~~

~~ITEM 2.~~

~~MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS~~

~~PLAN OF OPERATIONS~~

~~The report~~

Subsequent to June 30, 2020 the Company has sold $225,000 of ~~our Independent Registered Public Accounting firm dated~~Series B Preferred and invested $75,000 in additional investments.

During the three months ended June ~~29, 2017 on our March 31, 2017 financial statements includes an explanatory paragraph indicating that there is substantial doubt about our ability~~30, 2020, the Company was subject to ~~continue as a going concern due to substantial recurring losses from operations, cash used~~shelter in ~~operations, stockholders’ deficit, significant accumulated deficit and working capital deficit. Our ability to continue as a going concern will be determined~~place regulations imposed by ~~our ability to obtain additional financing and maintain operations. Currently we do~~the State of California in mitigation of the spread of the Corona 19 virus. Since the Company does not have ~~sufficient financial resources~~any dedicated office space and works virtually from the homes of its officers, there was no major disruption in working routines which continued by video and teleconference. Uncertainty arising from Covid 19 created a slow down in the rate at which the Company was able to ~~fund our operations. Therefore, we need additional funds~~raise Series B funding, and thereby continue to ~~continue these operations.~~make investments, however the Company did see a reduction in travel and investor relations expenses during the period. The Company ~~operates~~has 31 discrete investments in a ~~rapidly changing environment that involves a number~~range of ~~factors, some~~different industry and geographic segments, many of which are ~~beyond management’s control, such~~in the life science and medical space. While there is clearly a risk that our portfolio companies may be adversely affected in their ability to raise future funding or do business, there have been no management reports revealing major problems and some of our portfolio companies may actually benefit from new opportunities created. We believe that our policy of spreading our investments in relatively small amounts over a large number of portfolio companies helps mitigate some of the risk that might be suffered by any of our investments.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS

PLAN OF OPERATIONS

Kyto Technology and Life Science, Inc. was formed as ~~financial market trends and investors’ appetite for new financings. It should be emphasized that, should~~a Florida corporation on March 5, 1999 under the name of B Twelve Inc. In August, 2002, the Company ~~not be successful in completing~~changed its ~~own financing (either by debt or by the issuance of securities~~name from ~~treasury), the Company may be unable~~B Twelve, Inc. to ~~continue to operate as a going concern.~~

On November 6, 2017 the Company announced that it is offering up to 2 million of its Common Shares to Accredited Investors as a non-brokered Private Placement (''Private Placement'') to be completed on or before December 20, 2017. The completion of private placement was extended to February 28, 2018 with new terms.

The Company is offering 1.5 million Units (“the Units), each Unit Consisting of 1 Preferred Shares exercisable into 1 Common Shares and 1 Warrant exercisable into 1 common Share at $1.50 per Share for a period of three years from issuance, for sale to Accredited Investors, as defined by the SEC, at a price of $1.00 per Unit.

Upon completion of the Minimum Offering of the Private Placement, KBPH will file an S-8 Registration Statement with the SEC to offer to the new elected President & CEO, an option to purchase 2,697,085 and new director 500,000 Common Shares of KBPH. Upon completion of the Maximum Offering of the Private Placement and after issuance of Common Shares under the S-8 Registration Statement Kyto BioPharma ~~will have 9,936,832 common shares issued~~Inc. and ~~outstanding.~~

~~In conjunction with~~in May 2018, the ~~closing of the Private Placement, KBPH will change its~~ name was changed again to Kyto Technology and Life Science, Inc. In July 2019, the Company was re-incorporated as a Delaware company. The ~~symbol, KBPH,~~Company operates virtually, from public locations, or the homes of its officers and not lease any office space.

The Company was originally formed to acquire and develop innovative minimally toxic and non-immunosuppressive proprietary drugs for the treatment of cancer, arthritis, and other autoimmune diseases and had been looking at a number of strategies to become active. In April, 2018, the Board adopted a new business plan focused on the development of early stage technology and life science businesses through early stage investment funding. The Company has recruited a number of experienced investment consultants from a network that includes angel investors, corporate managers, and successful entrepreneurs across a number of technology and life science products and markets and relies on input from these advisors in conducting due diligence and making investment decisions. In order to offset the risk in early stage investing, the Company works with angel investment groups and participates only after these groups have completed due diligence and committed to invest, and does not typically invest more than $250,000 in any single investment. Generally, the Company’s investments represent less than 5% ownership interests, and the Company therefore has no effective control or influence over the management or commercial decisions of the Companies in which it invests. The Company plans to generate revenue from realised gains from the sale of the businesses in which it has invested. Generally, it is expected that investments will be ~~changed~~realised from an exit within a period of four years following investment. Such sales are outside its control and depend on M&A transactions which may result in cash or equity proceeds. Accordingly, it is difficult to forecast revenue, net income, and cash flow. In 2018, the Company developed a ~~symbol~~business plan to make investments in early stage private companies. At March 31, 2020, management determined that the Company was an investment company for purposes of ASC 946 disclosure, and committed to follow the specialized accounting and reporting guidance of contained therein. Other than making its initial investments in its portfolio companies, the Company does not provide any financial support to any of its investees.

The Company has no regular employees, full-time or part-time. . The chief executive officer of Kyto Technology and Life Science, Inc. is acting as ~~agreed~~a consultant to ~~by OTCQB.~~

the Company and does not receive contractual compensation for his services in the form of cash. In ~~conjunction~~the year ended March 31, 2020 he was granted 800,000 stock options as incentive compensation and an ex gratia bonus of $216,000 in recognition of his performance in raising funding, performance of due diligence, and making investments.

The Company has created a portfolio of minority investments in early-stage start-up companies and derives its revenue opportunity from the sale of those investments. Such sales are outside its control and depend on M&A transactions which may result in cash or equity proceeds. Accordingly, it is difficult to forecast revenue, net income, and cash flow. The Company currently has approximately $126,000 in the bank and is now actively marketing the first $3 million tranche of a Series B round with a target close date of September 2020. The average monthly expenses for the ~~closing~~three months ended June 30, 2020 were approximately $13,000 per month so the Company has sufficient cash to fund its operations through the close of its Series B round if it simply manages its existing investments. However it plans to ramp up monthly expenditure to market and ensure the success of the ~~Private Placement,~~Series B round, whereupon, if successful it will have sufficient funding for further investments and ongoing operations. In the event that the Series B close is delayed, management has the ability to slow down expenditure and defer future investment opportunities to balance its cash flow accordingly. While there is a degree of uncertainty in this business model, the Company has two viable alternative options to ensure continuity of liquidity and ongoing operations. However, there is no assurance that the Company will be able to continue as a ~~change to the Officers~~going concern, and ~~Directors of KPBH. The officers~~stay at home orders, and ~~directors of KBPH at closing~~general economic uncertainties arising out of the ~~Private Placement will be as follows:~~

~~Name~~		~~Position(s)~~
~~Paul Russo~~		~~President & Chief Executive Officer, Director~~
~~Georges Benarroch~~		~~Corporate Secretary & Treasurer, Director, Chairman~~
~~Larry Krauss~~		~~Director~~

current Covid-19 epidemic create additional l delay and uncertainty.

Results of Operations

Revenue: In the three months ended June 30, 2020 and June 30, 2019, the Company billed $500 and $3,250, respectively for management advisory services provided to its investment portfolio companies.

General and Administration Expenses: General and administration expenses include professional fees incurred in the course of SEC filing and compliance, and travel and conference fees associated with fund raising and review of investment deal-flow. In the three months ended June 30, 2020 and June 30, 2019, the Company incurred General and administration expenses of $39,368 and $204,848, of which executive bonus was $4 and $160,000, respectively.

For the three months ended ~~December 31, 2017~~June 30, 2020 and 2019, the Company’s net loss ~~attributable to common shareholders decreased by $6,946 to $24,133~~was $38,868 and $201,598, respectively.

Liquidity and Capital Resources

The Company had net assets of $3,004,791 and $2,667,611 at June 30, 2020 and March 31, 2020, respectively. Cash was $126,329 and $33,756 as at June 30, 2020 and March 31, 2020, respectively.

Cash from operating activities

The Company used net cash of $34,677 in operations during the three months ended June 30, 2020 compared ~~to a net loss of $31,079~~$307,579 used in operations for the three months ended ~~December 31, 2016.~~

~~For~~June 30, 2019. Main reasons for the ~~nine~~higher level in 2019 was the payment of a $160,000 executive bonus and $124,000 deferred fundraising expenses in the three months ended ~~December 31, 2017~~June 30, 2019.

Cash from investing activities

The Company used net cash of $250,000 in investing activities in the ~~Company’s net loss attributable to common shareholders decreased by $6,273 to $63,862~~three months ended June 30, 2020 compared to ~~a net loss of $70,135 for~~$323,497 in the ~~nine~~three months ended ~~December 31, 2016.~~

~~Liquidity and Capital Resources~~

June 30, 2019. The ~~Company had working capital deficits~~lower level of ~~$289,991 as of December 31, 2017 and $226,129 as of March 31, 2017. Cash was $76 as of December 31, 2017, and Nil as of March 31, 2017.~~

~~Cash from operating activities~~

~~The Company’s net cash used~~investment in ~~operations decreased by $8,425 to $20,884 for~~ the ~~nine~~three months ended ~~December 31, 2017 compared to net~~June 30, 2020 was the result of a slower rate of raising cash ~~used~~from sale of stock and the resulting delay in ~~operations of $29,309 for~~finding and making suitable investments in the ~~nine~~three months ended ~~December 31, 2016.~~

June 30, 2020.

Cash from financing activities

The ~~Company’s~~Company had a net cash ~~flows from financing activities decreased by $8,326 to $20,960 for the nine months ended December 31, 2017 compared to cash flows~~inflow from financing activities of ~~$29,286 for~~$377,250 in the ~~nine~~three months ended ~~December 31, 2016.~~

June 30, 2020 compared to $862,750 in the three months ended June 30, 2019. This inflow included $375,000 proceeds from the sale of preferred stock in the three months ended June 30, 2020 compared to $865,000 in the corresponding prior period. The Company also generated $2,250 of advances from related parties in the three months ended June 30, 2020, and paid back $2,250 in the three months ended June 30, 2019.

The Company’s plan of operations for the next twelve months is to continue to focus its efforts on finding new sources of capital by means of private placements and to use this funding to fund additional investments as they become available, and to cover operating expenses.

CRITICAL ACCOUNTING POLICIES

USE OF ESTIMATES

Significant estimates during the three months ended June 30, 2020 and March 31, 2020 include the valuation of investment valuation, deferred tax asset, tax valuation allowance, stock options and warrants.

INVESTMENT AND VALUATION OF INVESTMENT AT FAIR VALUE

The Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures”, for assets and liabilities measured at fair value on ~~R&D activities related~~a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing US GAAP that require the use of fair value measurements which establishes a framework for measuring fair value and expands disclosure about such fair value measurements.

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value is an exchange price notion under which fair value is the price in an orderly transaction between market participants to sell an asset or transfer a liability in the market in which the reporting entity would transact for the asset or liability.

The Company has established procedures to estimate the fair value of its investments which the company’s board of directors has reviewed and approved. The company will use observable market data to estimate the fair value of investments to the ~~development~~extent that market data is available. In the absence of quoted market prices in active markets, or quoted market prices for similar assets or in markets that are not active, the company will use the valuation methodologies described below with unobservable data based on the best available information in the circumstances, which incorporates the company’s assumptions about the factors that a market participant would use to value the asset.

For investments for which quoted market prices are not available, which will comprise most of our investment portfolio, fair value will be estimated by using the income or market approach. The income approach is based on the assumption that value is created by the expectation of future benefits discounted to a current value and ~~application~~the fair value estimate is the amount an investor would be willing to pay to receive those future benefits. The market approach compares recent comparable transactions to the investment. Adjustments are made for any dissimilarity between the comparable transactions and the investments. These valuation methodologies involve a significant degree of judgment on the part of our management and board.

Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities

Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data

Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions.

RECENT ACCOUNTING PRONOUNCEMENTS

In March 2020, the Company adopted Accounting Standards Codification Topic 946, Financial Services—Investment Companies (ASC Topic 946). In accordance with this specialized accounting guidance, the company recognizes and carries all of its ~~antibody technologies.~~ investments at fair value with changes in fair value recognized in earnings. Additionally, the company will not apply consolidation or equity method of accounting to its investments.

Management does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements.

OFF-BALANCE SHEET ARRANGEMENTS

As of the date of ~~filing of~~ this Quarterly Report on Form 10-Q, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

IMPACT OF INFLATION

The Company does not foresee any implications being created by the current rate of inflation.

CONTRACTUAL OBLIGATION

The Company has no contractual obligations outside the normal course of business with ~~the U.S. Securities~~its vendors, advisors, and ~~Exchange Commission, the Company did receive a commitment of one of its stockholders to continue to provide operating loan funds to the Company.~~

consultants.

ITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not required for smaller reporting company.

ITEM 4.CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that material information required to be disclosed in our periodic reports filed under the Securities Exchange Act of 1934, as amended, or 1934 Act, is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms and to ensure that such information is accumulated and communicated to our management, including our chief executive officer/chief financial officer (principal financial officer) as appropriate, to allow timely decisions regarding required disclosure. During the quarter ended ~~December 31, 2017~~June 30, 2020 we carried out an evaluation, under the supervision and with the participation of our management, including the principal executive officer and the ~~chief~~principal financial officer (principal financial officer), of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rule 13(a)-15(e) under the 1934 Act. Based on this evaluation, because of the Company’s limited resources and limited number of employees, management concluded that our disclosure controls and procedures were ineffective as of ~~December 31, 2017.~~

June 30, 2020. Notwithstanding this conclusion, we believe that our unaudited condensed financial statements contained in this Quarterly Report fairly present our financial position, results of operations and cash flows for the periods covered thereby in all material respects.

Limitations on Effectiveness of Controls and Procedures

Our management, including our Chief Executive Officer and Chief Financial Officer (principal financial officer), does not expect that our disclosure controls and procedures or our internal controls will prevent all errors and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected. These inherent limitations include, but are not limited to, the realities that judgments in decision-making can be faulty and that breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the control. The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, controls may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate. Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.

Internal Controls over Financial Reporting

During the quarter ended ~~December 31, 2017,~~June 30, 2020, there have been no changes in our internal control over financial reporting that have materially affected or are reasonably likely to materially affect our internal controls over financial reporting.

PART II. OTHER INFORMATION

ITEM 1.LEGAL PROCEEDINGS

None

ITEM 1A.RISK ~~FACTORS~~

FACTORS.

Not required for smaller reporting company.

ITEM 2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

~~None~~

The Corporation filed a certificate of Designation in July 2019 for the issue of up to 6,000,000 shares of Series B Preferred stock to accredited investors under Rule 506 of Regulation D of the Securities Act 1933. As of the filing date, the Corporation had sold a total of 1,281,250 shares of Series B Preferred stock to accredited investors. The Corporation has submitted a Form D filing to the United States Securities and Exchange Commission for this Offering. The Company will use the net proceeds for investment purposes and operating expenses.

ITEM 3.DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4.MINE SAFETY DISCLOSURES

~~None~~

Not applicable

ITEM 5.OTHER INFORMATION

None

ITEM 6.EXHIBITS

Index to Exhibits on page 13

INDEX TO EXHIBITS

EXHIBIT NUMBER		DESCRIPTION
3(i)(a)		Articles of Incorporation of Kyto ~~Biopharma,~~Technology and Life Science, Inc.* *

3(i)(b)		Articles of Amendment changing name to Kyto ~~Biopharma,~~Technology and Life Science, Inc.** 3 (i)(b) Delaware incorporation and revised articles of incorporation .* *

3(ii)		Bylaws of Kyto ~~Biopharma,~~Technology and Life Science, Inc.**

~~10.1~~		Research collaboration agreement between The Research Foundation of State University of New York and B. Twelve Ltd. (Kyto Biopharma, Inc.) [dated August 19, 1999]**

~~10.2~~		Collaborative Research Agreement to synthesize new vitamin B12 analogs signed between the Company and New York University [dated November 11, 1999]**

~~10.3~~		Extension/Modification Research Collaboration Agreement between the Research Foundation of State University of New York and B Twelve, Inc., (Kyto Biopharma, Inc.) Modification No. 1 [dated November 01, 2000]**

~~10.4~~		Debt Settlement Agreement and Put Option (dated November 2002) between Kyto Biopharma, Inc. and New York University.**

~~10.5~~		Extension/Modification Research Collaboration Agreement between the Research Foundation of State University of New York and Kyto Biopharma, Inc., Modification No. 2 [dated December 2004]. **

~~10.6~~		Services Agreement between Kyto Biopharma, Inc. and Gerard Serfati [dated November 1, 2004]***

31.1		Section 302 Certification of principal executive officer.**

31.2		Section 302 Certification of principal financial and accounting officer.**

32.1		Certification pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 ***
32.2		Certification pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*

~~———————~~

*

~~Filed as Exhibit to Company's Form 10-SB on September 12th, 2003, with the Securities and Exchange Commission~~

Filed as Exhibit with this Form 10-Q.

***

Previously filed with Form ~~S-8 on November 18, 2004.~~

10-K or Form 10-Q.

SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Kyto ~~Biopharma,~~Technology and Life Science, Inc.

	By:	/s/ Paul Russo
	~~By:~~	~~/s/ Georges Benarroch~~
		~~Georges Benarroch~~ Paul Russo Chief Executive Officer, principal executive officer, ~~principal~~

Date: August 3, 2020

SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Kyto Technology and Life Science, Inc.

	By:	/s/ Simon Westbrook
		Simon Westbrook Principal financial and accounting officer

Date: ~~February 14, 2018~~August 3, 2020

~~FLORIDA~~ DELAWARE	000-50390	65-1086538
(State or Other Jurisdiction	(Commission	(I.R.S. Employer
of Incorporation)	File Number)	Identification No.)

[ ]	Large accelerated filer	☐	Accelerated filer	☐ [ ]
[ ]	Non-accelerated filer	☐	Smaller reporting company	☑ [X]
[ ]	Emerging ~~Growth Company~~growth company	☐

	PART I. FINANCIAL INFORMATION

Item 1.	Financial Statements

	Condensed Balance Sheets as of ~~December 31, 2017~~June 30, 2020 (Unaudited) and March 31, ~~2017~~2020	3

	Unaudited Condensed Statements of Operations for the Three ~~and Nine~~ Months Ended ~~December 31, 2017~~June 30, 2020 and ~~2016~~2019	4
	Unaudited Condensed Statements of Stockholders’ Equity for the Three Months Ended June 30, 2020 and 2019		5
	~~Unaudited Condensed Statement of Stockholders’ Deficit for the Nine Months Ended December 31, 2017~~	5

	Unaudited Condensed Statements of Cash Flows for the ~~Nine~~Three Months Ended ~~December 31, 2017~~June 30, 2020 and ~~2016~~2019	6
	Schedule of Investments as of June 30, 2020 (Unaudited) and March 31, 2020
	Notes to Unaudited Condensed Financial Statements	7	9

Item 2.	Management’s Discussion and Analysis of Financial ~~Conditions~~Condition and Results of Operations.	10	20

Item 3.	Quantitative and Qualitative Disclosures About Market Risk.	11	23

Item 4.	Controls and Procedures.	11	23

	PART II. OTHER INFORMATION

Item 1.	Legal Proceedings.	12	24
Item 1A.	Risk Factors.		24
~~Item 1A.~~	~~Risk Factors.~~	12

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	12	24

Item 3.	Defaults Upon Senior Securities.	12	24

Item 4.	Mine Safety Disclosures	12	24
Item 5.	Other Information		24
Item 5.6.	~~Other Information~~ Exhibits	12	24
	Signatures
~~Item 6.~~	~~Exhibits~~	13
	~~Signatures~~	14	26

Title of each class	Trading Symbol	Exchange
Common stock	KBPH	OTC QB

Kyto Biopharma, Inc.
Condensed Balance Sheets

	December 31,	March 31,
	2017	2017
	(Unaudited)
ASSETS
Current Assets
Cash	$76	$-
Total Current Assets	76	-
Total Assets	$76	$-

LIABILITIES AND STOCKHOLDERS' DEFICIT

Current Liabilities
Accounts payable and accrued expenses	$-	$22
Accrued liabilities	5,000	10,000
Accrued liabilities - related party	196,000	148,000
Loans payable - related party	89,067	68,107
Total Current Liabilities	290,067	226,129

Commitments and Contingencies

Stockholders' Deficit
Preferred convertible stock, $1.00 par value, 2,000,000 shares
authorized, none issued and outstanding as of
December 31, 2017 and March 31, 2017, respectively	-	-
Common stock, $0.0001 par value, 100,000,000 shares
authorized, 3,139,747 issued and outstanding as of
December 31, 2017 and March 31, 2017, respectively	314	314
Additional paid-in capital	32,063,476	32,063,476
Accumulated deficit	(32,353,781)	(32,289,919)
Total Stockholders' Deficit	(289,991)	(226,129)
Total Liabilities and Stockholders' Deficit	$76	$-

Kyto Biopharma, Inc.
Condensed Statement of Stockholder's Deficit
For the Nine Months Ended December 31, 2017
(Unaudited)


	Preferred Stock		Common Stock		Additional
	$1.00 par value		$0.0001 par value		Paid - in	Accumulated
	Shares	Amount	Shares	Amount	Capital	Deficit	Total
Balance, March 31, 2017	-	$-	3,139,747	$314	$32,063,476	$(32,289,919)	$(226,129)
Net Loss	-	-	-	-	-	(63,862)	(63,862)
Balance, December 31, 2017	-	$-	3,139,747	$314	$32,063,476	$(32,353,781)	$(289,991)

Kyto Biopharma, Inc.
Condensed Statements of Cash Flows
(Unaudited)

	For the Nine Months Ended December 31,
	2017	2016
Cash Flows from Operating Activities:
Net loss	$(63,862)	$(70,135)
Adjustment to reconcile net loss to net cash used in operating activities:

Changes in operating liabilities:
Accrued liabilities - related party	48,000	48,000
Accrued liabilities	(5,000)	(7,500)
Accounts payable and accrued expenses	(22)	326
Net Cash Used in Operating Activities	(20,884)	(29,309)

Cash Flows from Investing Activities:

Net Cash Used in Investing Activities	-	-

Cash Flows from Financing Activities:
Loan proceeds from related parties, net	20,960	29,286
Net Cash Provided by Financing Activities	20,960	29,286

Net increase (decrease) in Cash and Cash Equivalents	76	(23)

Cash and Cash Equivalents at Beginning of Period	-	32

Cash and Cash Equivalents at End of Period	$76	$9

Supplemental Disclosure of Cash Flow Information:
Cash paid for:
Interest	$-	$-
Income taxes	$-	$-