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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 1 – ORGANIZATION, BUSINESS AND
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Organization and Description of Business</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 27, 2016, Jupiter Gold Corporation
("Jupiter Gold" or the "Company") was incorporated under the laws of the Republic of the Marshall Islands. Concurrently, Brazil
Minerals, Inc. ("Brazil Minerals"), a U.S. corporation, exchanged its 99.99% ownership in Mineração Jupiter Ltda ("MJL"),
a Brazilian company, for 4,000,000 shares of Jupiter Gold's common stock. Brazil Minerals held an approximate 35.4% interest in
the Company as of December 31, 2019.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has 100%-ownership to several
gold projects in development and in exploratory stages aggregating over <font style="background-color: white">154,000 acres
in Brazil. It also </font>owns a modular gold recovery plant. The Company trades on the OTC Markets (Pink Open Market) under the
symbol JUPGF.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Basis of Presentation</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The consolidated financial statements of the
Company have been prepared in accordance with generally accepted accounting principles ("GAAP") of the United States of America
and are expressed in United States dollars. For the years ended December 31, 2019, 2018 and 2017, the consolidated financial statements
include the accounts of the Company and its 99.99% owned subsidiary, Mineração Jupiter Ltda.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All material intercompany accounts and transactions
have been eliminated in consolidation.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Use of Estimates</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in
conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingencies at the date of the financial statements and the reported amount of revenues and expenses
during the reporting period. Actual results may differ from those estimates.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Going Concern</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The consolidated financial statements have
been prepared on a going concern basis which contemplates the realization of assets and the settlement of liabilities in the normal
course of business. The Company has limited working capital, has incurred losses since its inception, and has not yet generated
material revenues from the sale of its products or services. These factors create substantial doubt about the Company's ability
to continue as a going concern. The consolidated financial statements do not include any adjustment that might be necessary if
the Company is unable to continue as a going concern.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The ability of the Company to continue as
a going concern is dependent on the Company generating cash from its operations, the sale of its stock and/or obtaining debt financing.
During the year ended December 31, 2019, the Company funded operations primarily through the sale of equity securities. Management
plans to fund its capital requirements and ongoing operations from the sale of gold and minerals recovered from mining areas that
the Company expects will become operational during 2020. Management intends to cover any operating losses by selling its equity
securities and obtaining debt financing. There can be no assurance the Company will be successful in these efforts.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Fair Value of Financial Instruments</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Jupiter Gold follows the guidance of Accounting
Standards Codification ("ASC") Topic 820 – Fair Value Measurement and Disclosure. Fair value is defined as the exit price,
or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants as of the measurement date. The guidance also establishes a hierarchy for inputs used in measuring fair value that
maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs
be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability and are developed
based on market data obtained from sources independent of Jupiter Gold. Unobservable inputs are inputs that reflect Jupiter Gold's
assumptions about the factors market participants would use in valuing the asset or liability. The guidance establishes three
levels of inputs that may be used to measure fair value:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 1. Observable inputs such as quoted
prices in active markets;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 2. Inputs, other than the quoted
prices in active markets, that are observable either directly or indirectly; and</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 3. Unobservable inputs in which
there is little or no market data, which require the reporting entity to develop its own assumptions.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2019, Jupiter Gold did
not have any level 2 or 3 assets or liabilities. </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Jupiter Gold's financial instruments consist
of cash and cash equivalents, accounts payable, and accrued expenses. The carrying amount of these financial instruments approximates
fair value due to either length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed
in these consolidated financial statements.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Cash and Cash Equivalents</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company considers all highly liquid instruments
purchased with a maturity of three months or less to be cash equivalents to the extent that the funds are not being held for investment
purposes. Funds held in Brazilian banks are insured up to 250,000 Brazilian Real (approximately $62,024 based on the December
31, 2019 exchange rate).</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Property and Equipment</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Property and equipment are stated at cost.
Major improvements and betterments are capitalized. Maintenance and repairs are expensed as incurred. Depreciation is computed
using the straight-line method over the estimated useful life. At the time of retirement or other disposition of property and
equipment, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in
the statements of operations as other gain or loss, net.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The diamond and gold processing plant and
other machinery are depreciated over an estimated useful life of ten years; vehicles are depreciated over an estimated life of
five years; and computer and other office equipment over an estimated useful life of three years.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Right of Use Assets and Lease Liabilities</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In February 2016, the FASB issued ASU No.
2016-02, "Leases" (ASC 842). The standard requires lessees to recognize almost all leases on the balance sheet as a ROU asset
and a lease liability and requires leases to be classified as either an operating or a finance type lease. The standard excludes
leases of intangible assets or inventory. The standard became effective for the Company beginning January 1, 2019. The Company
adopted ASC 842 using the modified retrospective approach, by applying the new standard to all leases existing at the date of
initial application. Results and disclosure requirements for reporting periods beginning after January 1, 2019 are presented under
ASC 842, while prior period amounts have not been adjusted and continue to be reported in accordance with our historical accounting
under ASC 840. The Company elected the package of practical expedients permitted under the standard, which also allowed the Company
to carry forward historical lease classifications. The Company also elected the practical expedient related to treating lease
and non-lease components as a single lease component for all equipment leases as well as electing a policy exclusion permitting
leases with an original lease term of less than one year to be excluded from the ROU assets and lease liabilities.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under ASC 842, the Company determines if an
arrangement is a lease at inception. Right-of-Use ("ROU") assets and liabilities are recognized at commencement date based on
the present value of remaining lease payments over the lease term. For this purpose, the Company considers only payments that
are fixed and determinable at the time of commencement. As most of the Company's leases do not provide an implicit rate, the Company
estimated the incremental borrowing rate in determining the present value of lease payments. The ROU asset also includes any lease
payments made prior to commencement and is recorded net of any lease incentives received. The Company lease terms may include
options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The adoption did not impact the Company's
beginning retained earnings, or prior year consolidated statements of income and statements of cash flows as the Company does
not have any operating leases that are material in term or expense.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Mineral Properties</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Costs of exploration, carrying and retaining
unproven mineral lease properties are expensed as incurred. Mineral property acquisition costs, including licenses and lease payments,
are capitalized. Impairment losses are recorded on mineral properties used in operations when indicators of impairment are present
and the undiscounted cash flows estimated to be generated by those assets are less than the assets' carrying amount. The Company
did not recognize any impairment losses related to mineral properties held during the years ended December 31, 2019, 2018 and
2017.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For intangible assets purchased in a business
combination, the estimated fair values of the assets received are used to establish their recorded values. For intangible assets
acquired in a non-monetary exchange, the estimated fair values of the assets transferred (or the estimated fair values of the
assets received, if more clearly evident) are used to establish their recorded values, unless the values of neither the assets
received nor the assets transferred are determinable within reasonable limits, in which case the assets received are measured
based on the carrying values of the assets transferred. Valuation techniques consistent with the market approach, income approach
and/or cost approach are used to measure fair value. Intangible assets consist of mineral rights held by MJL and hold a recorded
value of $2,044, the cost of fees paid to the Brazilian national mining department. These rights are held in perpetuity provided
the Company remains in compliance with various government regulations and industry requirements.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Impairment of Long-Lived Assets</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For long-lived assets, such as property and
equipment and intangible assets subject to amortization, Jupiter Gold continually monitors events and changes in circumstances
that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances
are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets
will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying
amount of those assets, Jupiter Gold recognizes an impairment loss based on the excess of the carrying amount over the fair value
of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Revenue Recognition</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company generates revenue from the sale
of gold and other minerals excavated from its modular gold recovery plant located in a mining concession in Brazil.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 1, 2018, the Company adopted ASC
Topic 606, Revenue from Contracts with Customers ("ASC 606"), using the modified retrospective method applied to those contracts
which were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under
ASC 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under
ASC 605. The consolidated financial statements were not materially impacted as a result of the application of Topic 606 compared
to Topic 605.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recognizes revenue under ASC 606,
Revenue from Contracts with Customers. The core principle of the new revenue standard is that a company should recognize revenue
to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company
expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Step 1: Identify the contract with the customer</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Step 2: Identify the performance obligations in
the contract</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Step 3: Determine the transaction price</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Step 4: Allocate the transaction price to the performance
obligations in the contract</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Step 5: Recognize revenue when the company satisfies
a performance obligation</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In order to identify the performance obligations
in a contract with a customer, a company must assess the promised goods or services in the contract and identify each promised
good or service that is distinct. A performance obligation meets ASC 606's definition of a "distinct" good or service (or bundle
of goods or services) if both of the following criteria are met:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The customer can benefit from the good or service
either on its own or together with other resources that are readily available to the customer</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The entity's promise to transfer the good or service
to the customer is separately identifiable from other promises in the contract </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If a good or service is not distinct, the
good or service is combined with other promised goods or services until a bundle of goods or services is identified that is distinct.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The transaction price is the amount of consideration
to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The consideration
promised in a contract with a customer may include fixed amounts, variable amounts, or both. When determining the transaction
price, an entity must consider the effects of all of the following:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Variable consideration</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Constraining estimates of variable consideration</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The existence of a significant financing component
in the contract</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Noncash consideration</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Consideration payable to a customer</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Variable consideration is included in the
transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized
will not occur when the uncertainty associated with the variable consideration is subsequently resolved.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The transaction price is allocated to each
performance obligation on a relative standalone selling price basis.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The transaction price allocated to each performance
obligation is recognized when that performance obligation is satisfied, at a point in time or over time as appropriate.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Stock-Based Compensation</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company records stock-based compensation
in accordance with ASC Topic 718, Compensation - Stock Compensation. ASC 718 requires companies to measure compensation cost for
stock-based employee compensation at fair value at the grant date and recognize the expense over the employee's requisite service
period. Under ASC 718, volatility is based on the historical volatility of our stock or the expected volatility of the stock of
similar companies. The expected life assumption is primarily based on historical exercise patterns and employee post-vesting termination
behavior. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect
at the time of grant.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company utilizes the Black-Scholes option-pricing
model, which was developed for use in estimating the fair value of options. Option-pricing models require the input of highly
complex and subjective variables including the expected life of options granted and the expected volatility of our stock price
over a period equal to or greater than the expected life of the options. Because changes in the subjective assumptions can materially
affect the estimated value of our employee stock options, it is management's opinion that the Black-Scholes option-pricing model
may not provide an accurate measure of the fair value of our employee stock options. Although the fair value of employee stock
options is determined in accordance with ASC Topic 718 using an option-pricing model, that value may not be indicative of the
fair value observed in a willing buyer/willing seller market transaction.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 20, 2018, the FASB issued ASU 2018-07
which simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of
the guidance on such payments to nonemployees would be aligned with the requirements for share-based payments granted to employees.
Equity classified share-based payments for employees are fixed at the time of grant. Equity-classified nonemployee share-based
payment awards are measured at the grant date of the award which is the same as share-based payments for employees. The Company
adopted the requirements of the new rule as of January 1, 2019, the effective date of the new guidance.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Foreign Currency</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Jupiter Gold's subsidiary, MJL, uses its local
currency as its functional currency. Resulting translation gains or losses are recognized as a component of accumulated other
comprehensive income. Transaction gains or losses related to balances denominated in a currency other than the functional currency
are recognized in the consolidated statements of operations.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Basic Earnings (Loss) Per Share</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company computes loss per share in accordance
with ASC Topic 260, Earnings per Share, which requires presentation of both basic and diluted earnings per share on the face of
the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted
average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common
shares outstanding during the period. As of December 31, 2019, the Company's potentially dilutive securities relate to common
stock issuable in connection with options. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Recent Accounting Pronouncements</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In February 2020, the FASB issued ASU 2020-02,
Financial Instruments-Credit Losses (Topic 326) and Leases (Topic 842) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting
Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic
842), which amends the effective date of the original pronouncement for smaller reporting companies. ASU 2016-13 and its amendments
will be effective for the Company for interim and annual periods in fiscal years beginning after December 15, 2022. The Company
believes the adoption will modify the way the Company analyzes financial instruments, but it does not anticipate a material impact
on results of operations. The Company is in the process of determining the effects adoption will have on its consolidated financial
statements</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have reviewed other recent accounting pronouncements
issued to the date of the issuance of these consolidated financial statements, and we do not believe any of these pronouncements
will have a material impact on the Company. </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 2 – COMPOSITION OF CERTAIN FINANCIAL
STATEMENT ITEMS</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Property and Equipment, Net</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table sets forth the components
of the Company's property and equipment at December 31, 2019 and December 31, 2018:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="10" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>December
31, 2019</b></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="10" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>December
31, 2018</b></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Cost</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Accumulated
Depreciation</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Net Book Value</p></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Cost</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Accumulated
Depreciation</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Net Book Value</p></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 28%">Computers and office equipment</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right">1,405</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right">(–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%">)</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right">1,405</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right">803</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right">(–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%">)</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right">803</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
<td style="font: 10pt Times New Roman, Times, Serif">Machinery and equipment</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">139,667</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(66,704</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">72,963</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">145,287</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(54,860</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">90,427</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
<td style="font: 10pt Times New Roman, Times, Serif">Vehicles</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">54,803</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(38,642</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">16,161</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">11,614</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(4,224</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">7,390</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
<td style="font: 10pt Times New Roman, Times, Serif">Total fixed assets</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif">$</td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">195,875</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif">$</td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(105,346</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif">$</td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">90,529</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif">$</td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">157,704</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif">$</td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(59,084</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif">$</td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">98,620</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the years ended December 31, 2019, 2018
and 2017, the Company recorded depreciation expense of $24,654, $17,978 and $7,736, respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Related Party Receivables</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2019, related party receivables
totaled $94,575. This amount was comprised of the following components, (i) $3,787 is owed from a Brazil Minerals subsidiary to
MJL for expenses paid on behalf of such subsidiary and (ii) $90,788 is owed from Brazil Minerals for short term loans made and
expenses paid by Jupiter Gold and MJL.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018, related party receivables
totaled $172,095. This amount was comprised of the following components, (i) $78,242 is owed from a Brazil Minerals subsidiary
to MJL for expenses paid on behalf of such subsidiary and (ii) $93,853 is owed from Brazil Minerals for short term loans made
and expenses paid by Jupiter Gold and MJL.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 3 – STOCKHOLDERS' DEFICIT</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Issued and Authorized</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2019, Jupiter Gold had
4,890,424 shares of its common stock and 1 share of its preferred stock issued and outstanding. As of December 31, 2019, Jupiter
Gold had 40,000,000 <font style="background-color: white">common shares and 10,000,000 preferred shares authorized.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Common Stock</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2019, Jupiter
Gold issued and sold 250,333 shares of common stock for cash proceeds of $150,000. Additionally, the Company issued 5,492 shares
of its common stock in exchange for fees and services totaling $5,000, or an average price of $0.91 per share which approximated
fair market value.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2018, Jupiter
Gold issued and sold 5,000 shares of common stock for cash proceeds of $5,000. Additionally, the Company issued 200,000 shares
of its common stock in exchange for fees and services totaling $125,000, or an average price of $0.63 per share which approximated
fair market value.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2017, Jupiter
Gold issued and sold 250,100 shares of common stock for cash proceeds of $250,100. On September 29, 2017, Jupiter Gold agreed
to issue 176,332 shares of common stock on behalf of MJL to purchase various capital assets valued at approximately $175,000 (or
554,000 Brazilian Reais) from BMIX Participações Ltda., a related party. On September 18, 2017, the Company issued 1,367
shares of common stock with a fair value of $1,367 in satisfaction of certain accounts payable and 1,800 shares of common stock
with a fair value of $1,800 to consultants and other professionals in lieu of cash payments.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i> </i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Preferred A Stock</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Jupiter Gold has issued to one of its directors
one share of a Series A Convertible Preferred Stock ("Preferred A Stock"). The Certificate of Designations, Preferences and Rights
of Preferred A Stock provides that for so long as it is issued and outstanding, its holders shall vote together as a single class
with the holders of the Company's common stock, with the holders of Preferred A Stock being entitled to 51% of the total votes
on all such matters regardless of the actual number of shares of Preferred A Stock then outstanding, and the holders of common
stock are entitled to their proportional share of the remaining 49% of the total votes based on their respective voting power.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Options</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2019, the
Company granted to directors as contractual compensation options to purchase an aggregate of 360,000 shares of its common stock.
The options were valued at $116,095 in total. The options were valued using the Black-Scholes option pricing model with the following
average assumptions: our stock price on date of grant ($0.275 to $1.125), a strike price of $1.00, expected dividend yield of
0%, historical volatility of 63.08%, risk-free interest rate of 1.39% to 2.56%, and an expected term of five years.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2018, the
Company granted to directors as contractual compensation options to purchase an aggregate of 365,000 shares of its common stock.
The options were valued at $204,319 in total. The options were valued using the Black-Scholes option pricing model with the following
average assumptions: our stock price on date of grant ($1.00 to $1.13), a strike price of $1.00, expected dividend yield of 0%,
historical volatility of 63.08%, risk-free interest rate of 2.25% to 2.94%, and an expected term of five years.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2017, the
Company granted to directors as contractual compensation options to purchase an aggregate of 670,000 shares of its common stock.
The options were valued at $363,443 in total. The options were valued using the Black-Scholes option pricing model with the following
average assumptions: our stock price on date of grant ($1.00), the strike price ($1.25 or $1.00 according to the specific issuance),
expected dividend yield of 0%, historical volatility of 63.08%, risk-free interest rate of 1.93%, and an expected term of five
years.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="background-color: white">With
the untimely death of director Paul Durand on December 18, 2017, the 110,000 options awarded to him were forfeited effective as
of December 31, 2017.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table reflects all outstanding
and exercisable options at December 31, 2019. All stock options are exercisable for a period of five years from the date
of issuance.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>Number
of Options Outstanding</b></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>Weighted
Average Exercise Price</b></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>Remaining
Contractual Life (Years)</b></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
<td style="font: 10pt Times New Roman, Times, Serif; width: 67%">Balance, December 31, 2017</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 8%; text-align: right">1,170,000</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 8%; text-align: right">1.10</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 8%; text-align: right">4.27</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
<td style="font: 10pt Times New Roman, Times, Serif">Issued</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">365,000</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1.00</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.46</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
<td style="font: 10pt Times New Roman, Times, Serif">Exercised</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
<td style="font: 10pt Times New Roman, Times, Serif">Forfeited</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
<td style="font: 10pt Times New Roman, Times, Serif">Balance, December 31, 2018</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,535,000</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif">$</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1.10</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3.55</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
<td style="font: 10pt Times New Roman, Times, Serif">Issued</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">360,000</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1.00</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.46</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
<td style="font: 10pt Times New Roman, Times, Serif">Exercised</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
<td style="font: 10pt Times New Roman, Times, Serif">Forfeited</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
<td style="font: 10pt Times New Roman, Times, Serif">Balance, December 31, 2019</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,895,000</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif">$</td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1.06</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">2.92</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The remaining contractual life of the options
outstanding as of December 31, 2019 ranges from 1.67 to 4.92 years.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 4 – COMMITMENTS AND CONTINGENCIES</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Service Agreement</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Jupiter Gold had a contractual agreement with
Brazil Minerals by which it used that company's infrastructure in Brazil, including office and some personnel time, for $2,500
monthly. This agreement was terminated effective April 1, 2017. All amounts under this agreement were paid as of December 31, 2017.</p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Commencing November 1, 2017, Jupiter Gold established
a similar cost sharing arrangement with Brazil Minerals whereby it agreed to pay $1,250 per month for support services including
facilities and personnel.</p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Loans</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Jupiter Gold and MJL have, from time to time,
received loans from Brazil Minerals and its subsidiaries. These loans, when made, bear no interest and are payable on demand.</p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Monthly Honorarium</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0">MJL pays as honorarium to its administrator, Jupiter Gold's Chief
Executive Officer, the minimum monthly salary as set annually by the Brazilian government. The minimum monthly salary was approximately
$252 (or 998 Brazilian Reais) during 2019, $246 (or 954 Brazilian Reais) during 2018, and $283 (or 937 Brazilian Reais) during
2017.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 5 – SUBSEQUENT EVENTS</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In light of the SEC's Division of Corporate
Finance Disclosure Guidance Topic Number 9, dated March 25, 2020, on the impact of COVID-19, the Company notes the following as
of April 27, 2020:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; width: 24px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px; vertical-align: top">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has not had any reports of
COVID-19 among its workforce;</td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; width: 24px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px; vertical-align: top">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has been able to continue
to advance its Alpha Project with minimal disruption; </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; width: 24px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px; vertical-align: top">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Some exploratory research of other projects
has been delayed because of certain key personnel not being able to travel;</td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In 2020, the Company has received gross proceeds
of $275,000 from the sale and issuance of securities to support ongoing operations and in particular its Alpha Project.</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In accordance with FASB ASC 855-10 Subsequent
Events, the Company has analyzed its operations subsequent to December 31, 2019 to the date these consolidated financial statements
were issued, and has determined that it does not have any material subsequent events to disclose in these consolidated financial
statements.</p>
157704
195875
1405
139667
54803
803
145287
11614
59084
105346
66704
38642
54860
4224
24654
17978
7736
1535000
1895000
1170000
360000
365000
110000
1.10
1.06
1.10
1.00
1.00
P2Y11M1D
P3Y6M18D
P4Y3M7D
P1Y8M1D
P4Y11M1D
P4Y5M16D
P4Y5M16D
246
252
283
1250
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table sets forth the components
of the Company's property and equipment at December 31, 2019 and December 31, 2018:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="10" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>December
31, 2019</b></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="10" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>December
31, 2018</b></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Cost</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Accumulated
Depreciation</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Net Book Value</p></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Cost</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Accumulated
Depreciation</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Net Book Value</p></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 28%">Computers and office equipment</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right">1,405</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right">(–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%">)</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right">1,405</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right">803</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right">(–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%">)</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right">803</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
<td style="font: 10pt Times New Roman, Times, Serif">Machinery and equipment</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">139,667</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(66,704</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">72,963</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">145,287</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(54,860</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">90,427</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
<td style="font: 10pt Times New Roman, Times, Serif">Vehicles</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">54,803</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(38,642</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">16,161</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">11,614</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(4,224</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">7,390</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
<td style="font: 10pt Times New Roman, Times, Serif">Total fixed assets</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif">$</td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">195,875</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif">$</td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(105,346</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif">$</td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">90,529</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif">$</td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">157,704</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif">$</td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(59,084</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif">$</td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">98,620</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table reflects all outstanding
and exercisable options at December 31, 2019. All stock options are exercisable for a period of five years from the date
of issuance.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>Number
of Options Outstanding</b></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>Weighted
Average Exercise Price</b></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>Remaining
Contractual Life (Years)</b></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
<td style="font: 10pt Times New Roman, Times, Serif; width: 67%">Balance, December 31, 2017</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 8%; text-align: right">1,170,000</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 8%; text-align: right">1.10</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 8%; text-align: right">4.27</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
<td style="font: 10pt Times New Roman, Times, Serif">Issued</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">365,000</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1.00</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.46</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
<td style="font: 10pt Times New Roman, Times, Serif">Exercised</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
<td style="font: 10pt Times New Roman, Times, Serif">Forfeited</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
<td style="font: 10pt Times New Roman, Times, Serif">Balance, December 31, 2018</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,535,000</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif">$</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1.10</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3.55</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
<td style="font: 10pt Times New Roman, Times, Serif">Issued</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">360,000</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1.00</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.46</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
<td style="font: 10pt Times New Roman, Times, Serif">Exercised</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="font: 10pt Times New Roman, Times, Serif"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right">–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
<td style="font: 10pt Times New Roman, Times, Serif">Forfeited</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap">)</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">–</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
<td style="font: 10pt Times New Roman, Times, Serif">Balance, December 31, 2019</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,895,000</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif">$</td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1.06</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">2.92</td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Organization and Description of Business</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 27, 2016, Jupiter Gold Corporation
("Jupiter Gold" or the "Company") was incorporated under the laws of the Republic of the Marshall Islands. Concurrently, Brazil
Minerals, Inc. ("Brazil Minerals"), a U.S. corporation, exchanged its 99.99% ownership in Mineração Jupiter Ltda ("MJL"),
a Brazilian company, for 4,000,000 shares of Jupiter Gold's common stock. Brazil Minerals held an approximate 35.4% interest in
the Company as of December 31, 2019.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has 100%-ownership to several
gold projects in development and in exploratory stages aggregating over <font style="background-color: white">154,000 acres
in Brazil. It also </font>owns a modular gold recovery plant. The Company trades on the OTC Markets (Pink Open Market) under the
symbol JUPGF.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Basis of Presentation</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The consolidated financial statements of the
Company have been prepared in accordance with generally accepted accounting principles ("GAAP") of the United States of America
and are expressed in United States dollars. For the years ended December 31, 2019, 2018 and 2017, the consolidated financial statements
include the accounts of the Company and its 99.99% owned subsidiary, Mineração Jupiter Ltda.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All material intercompany accounts and transactions
have been eliminated in consolidation.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Use of Estimates</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in
conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingencies at the date of the financial statements and the reported amount of revenues and expenses
during the reporting period. Actual results may differ from those estimates.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Going Concern</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The consolidated financial statements have
been prepared on a going concern basis which contemplates the realization of assets and the settlement of liabilities in the normal
course of business. The Company has limited working capital, has incurred losses since its inception, and has not yet generated
material revenues from the sale of its products or services. These factors create substantial doubt about the Company's ability
to continue as a going concern. The consolidated financial statements do not include any adjustment that might be necessary if
the Company is unable to continue as a going concern.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The ability of the Company to continue as
a going concern is dependent on the Company generating cash from its operations, the sale of its stock and/or obtaining debt financing.
During the year ended December 31, 2019, the Company funded operations primarily through the sale of equity securities. Management
plans to fund its capital requirements and ongoing operations from the sale of gold and minerals recovered from mining areas that
the Company expects will become operational during 2020. Management intends to cover any operating losses by selling its equity
securities and obtaining debt financing. There can be no assurance the Company will be successful in these efforts.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Fair Value of Financial Instruments</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Jupiter Gold follows the guidance of Accounting
Standards Codification ("ASC") Topic 820 – Fair Value Measurement and Disclosure. Fair value is defined as the exit price,
or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants as of the measurement date. The guidance also establishes a hierarchy for inputs used in measuring fair value that
maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs
be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability and are developed
based on market data obtained from sources independent of Jupiter Gold. Unobservable inputs are inputs that reflect Jupiter Gold's
assumptions about the factors market participants would use in valuing the asset or liability. The guidance establishes three
levels of inputs that may be used to measure fair value:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 1. Observable inputs such as quoted
prices in active markets;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 2. Inputs, other than the quoted
prices in active markets, that are observable either directly or indirectly; and</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 3. Unobservable inputs in which
there is little or no market data, which require the reporting entity to develop its own assumptions.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2019, Jupiter Gold did
not have any level 2 or 3 assets or liabilities. </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Jupiter Gold's financial instruments consist
of cash and cash equivalents, accounts payable, and accrued expenses. The carrying amount of these financial instruments approximates
fair value due to either length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed
in these consolidated financial statements.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Cash and Cash Equivalents</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company considers all highly liquid instruments
purchased with a maturity of three months or less to be cash equivalents to the extent that the funds are not being held for investment
purposes. Funds held in Brazilian banks are insured up to 250,000 Brazilian Real (approximately $62,024 based on the December
31, 2019 exchange rate).</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Property and Equipment</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Property and equipment are stated at cost.
Major improvements and betterments are capitalized. Maintenance and repairs are expensed as incurred. Depreciation is computed
using the straight-line method over the estimated useful life. At the time of retirement or other disposition of property and
equipment, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in
the statements of operations as other gain or loss, net.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The diamond and gold processing plant and
other machinery are depreciated over an estimated useful life of ten years; vehicles are depreciated over an estimated life of
five years; and computer and other office equipment over an estimated useful life of three years.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Right of Use Assets and Lease Liabilities</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In February 2016, the FASB issued ASU No.
2016-02, "Leases" (ASC 842). The standard requires lessees to recognize almost all leases on the balance sheet as a ROU asset
and a lease liability and requires leases to be classified as either an operating or a finance type lease. The standard excludes
leases of intangible assets or inventory. The standard became effective for the Company beginning January 1, 2019. The Company
adopted ASC 842 using the modified retrospective approach, by applying the new standard to all leases existing at the date of
initial application. Results and disclosure requirements for reporting periods beginning after January 1, 2019 are presented under
ASC 842, while prior period amounts have not been adjusted and continue to be reported in accordance with our historical accounting
under ASC 840. The Company elected the package of practical expedients permitted under the standard, which also allowed the Company
to carry forward historical lease classifications. The Company also elected the practical expedient related to treating lease
and non-lease components as a single lease component for all equipment leases as well as electing a policy exclusion permitting
leases with an original lease term of less than one year to be excluded from the ROU assets and lease liabilities.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under ASC 842, the Company determines if an
arrangement is a lease at inception. Right-of-Use ("ROU") assets and liabilities are recognized at commencement date based on
the present value of remaining lease payments over the lease term. For this purpose, the Company considers only payments that
are fixed and determinable at the time of commencement. As most of the Company's leases do not provide an implicit rate, the Company
estimated the incremental borrowing rate in determining the present value of lease payments. The ROU asset also includes any lease
payments made prior to commencement and is recorded net of any lease incentives received. The Company lease terms may include
options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The adoption did not impact the Company's
beginning retained earnings, or prior year consolidated statements of income and statements of cash flows as the Company does
not have any operating leases that are material in term or expense.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Mineral Properties</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Costs of exploration, carrying and retaining
unproven mineral lease properties are expensed as incurred. Mineral property acquisition costs, including licenses and lease payments,
are capitalized. Impairment losses are recorded on mineral properties used in operations when indicators of impairment are present
and the undiscounted cash flows estimated to be generated by those assets are less than the assets' carrying amount. The Company
did not recognize any impairment losses related to mineral properties held during the years ended December 31, 2019, 2018 and
2017.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For intangible assets purchased in a business
combination, the estimated fair values of the assets received are used to establish their recorded values. For intangible assets
acquired in a non-monetary exchange, the estimated fair values of the assets transferred (or the estimated fair values of the
assets received, if more clearly evident) are used to establish their recorded values, unless the values of neither the assets
received nor the assets transferred are determinable within reasonable limits, in which case the assets received are measured
based on the carrying values of the assets transferred. Valuation techniques consistent with the market approach, income approach
and/or cost approach are used to measure fair value. Intangible assets consist of mineral rights held by MJL and hold a recorded
value of $2,044, the cost of fees paid to the Brazilian national mining department. These rights are held in perpetuity provided
the Company remains in compliance with various government regulations and industry requirements.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Impairment of Long-Lived Assets</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For long-lived assets, such as property and
equipment and intangible assets subject to amortization, Jupiter Gold continually monitors events and changes in circumstances
that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances
are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets
will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying
amount of those assets, Jupiter Gold recognizes an impairment loss based on the excess of the carrying amount over the fair value
of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Revenue Recognition</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company generates revenue from the sale
of gold and other minerals excavated from its modular gold recovery plant located in a mining concession in Brazil.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 1, 2018, the Company adopted ASC
Topic 606, Revenue from Contracts with Customers ("ASC 606"), using the modified retrospective method applied to those contracts
which were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under
ASC 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under
ASC 605. The consolidated financial statements were not materially impacted as a result of the application of Topic 606 compared
to Topic 605.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recognizes revenue under ASC 606,
Revenue from Contracts with Customers. The core principle of the new revenue standard is that a company should recognize revenue
to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company
expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Step 1: Identify the contract with the customer</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Step 2: Identify the performance obligations in
the contract</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Step 3: Determine the transaction price</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Step 4: Allocate the transaction price to the performance
obligations in the contract</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Step 5: Recognize revenue when the company satisfies
a performance obligation</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In order to identify the performance obligations
in a contract with a customer, a company must assess the promised goods or services in the contract and identify each promised
good or service that is distinct. A performance obligation meets ASC 606's definition of a "distinct" good or service (or bundle
of goods or services) if both of the following criteria are met:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The customer can benefit from the good or service
either on its own or together with other resources that are readily available to the customer</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The entity's promise to transfer the good or service
to the customer is separately identifiable from other promises in the contract </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If a good or service is not distinct, the
good or service is combined with other promised goods or services until a bundle of goods or services is identified that is distinct.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The transaction price is the amount of consideration
to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The consideration
promised in a contract with a customer may include fixed amounts, variable amounts, or both. When determining the transaction
price, an entity must consider the effects of all of the following:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Variable consideration</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Constraining estimates of variable consideration</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The existence of a significant financing component
in the contract</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Noncash consideration</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 24px">•</td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Consideration payable to a customer</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Variable consideration is included in the
transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized
will not occur when the uncertainty associated with the variable consideration is subsequently resolved.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The transaction price is allocated to each
performance obligation on a relative standalone selling price basis.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The transaction price allocated to each performance
obligation is recognized when that performance obligation is satisfied, at a point in time or over time as appropriate.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Stock-Based Compensation</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company records stock-based compensation
in accordance with ASC Topic 718, Compensation - Stock Compensation. ASC 718 requires companies to measure compensation cost for
stock-based employee compensation at fair value at the grant date and recognize the expense over the employee's requisite service
period. Under ASC 718, volatility is based on the historical volatility of our stock or the expected volatility of the stock of
similar companies. The expected life assumption is primarily based on historical exercise patterns and employee post-vesting termination
behavior. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect
at the time of grant.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company utilizes the Black-Scholes option-pricing
model, which was developed for use in estimating the fair value of options. Option-pricing models require the input of highly
complex and subjective variables including the expected life of options granted and the expected volatility of our stock price
over a period equal to or greater than the expected life of the options. Because changes in the subjective assumptions can materially
affect the estimated value of our employee stock options, it is management's opinion that the Black-Scholes option-pricing model
may not provide an accurate measure of the fair value of our employee stock options. Although the fair value of employee stock
options is determined in accordance with ASC Topic 718 using an option-pricing model, that value may not be indicative of the
fair value observed in a willing buyer/willing seller market transaction.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 20, 2018, the FASB issued ASU 2018-07
which simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of
the guidance on such payments to nonemployees would be aligned with the requirements for share-based payments granted to employees.
Equity classified share-based payments for employees are fixed at the time of grant. Equity-classified nonemployee share-based
payment awards are measured at the grant date of the award which is the same as share-based payments for employees. The Company
adopted the requirements of the new rule as of January 1, 2019, the effective date of the new guidance.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Foreign Currency</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Jupiter Gold's subsidiary, MJL, uses its local
currency as its functional currency. Resulting translation gains or losses are recognized as a component of accumulated other
comprehensive income. Transaction gains or losses related to balances denominated in a currency other than the functional currency
are recognized in the consolidated statements of operations.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Basic Earnings (Loss) Per Share</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company computes loss per share in accordance
with ASC Topic 260, Earnings per Share, which requires presentation of both basic and diluted earnings per share on the face of
the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted
average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common
shares outstanding during the period. As of December 31, 2019, the Company's potentially dilutive securities relate to common
stock issuable in connection with options. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Recent Accounting Pronouncements</u></i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In February 2020, the FASB issued ASU 2020-02,
Financial Instruments-Credit Losses (Topic 326) and Leases (Topic 842) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting
Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic
842), which amends the effective date of the original pronouncement for smaller reporting companies. ASU 2016-13 and its amendments
will be effective for the Company for interim and annual periods in fiscal years beginning after December 15, 2022. The Company
believes the adoption will modify the way the Company analyzes financial instruments, but it does not anticipate a material impact
on results of operations. The Company is in the process of determining the effects adoption will have on its consolidated financial
statements</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have reviewed other recent accounting pronouncements
issued to the date of the issuance of these consolidated financial statements, and we do not believe any of these pronouncements
will have a material impact on the Company. </p>
360000
365000
670000
116095
204319
363443
Black-Scholes option
pricing model
Black-Scholes option
pricing model
Black-Scholes option
pricing model
0.275
1.125
1.00
1.13
1.00
1.25
1.00
1.00
1.00
1.25
1.00
1.25
0.00
0.00
0.0000
0.6308
0.6308
0.6308
0.0193
0.0139
0.0256
0.0225
0.0294
P5Y
P5Y
P5Y
false
false
true
false