Lirio Resources Inc.

“Cdc is organized as a not-for-profit corporation other than a private foundation, and is exempt from federal and state income taxes under section 501(c)(3) of the u.s. Internal revenue code. However, cdc is required to file federal form 990-return of organization exempt from income tax, which is an informational return only. Cdc has filed its federal and state informational returns for periods through june 30, 2019. The corporation elected "c" corporation status effective may 22, 2000. Income tax expense and liabilities are recorded at the amounts currently payable. The corporation generally uses the same accounting methods for financial reporting and income tax purposes. The amount of income tax expense is not significant to the consolidated financial statements as a whole. The corporation has filed its federal and state income tax returns for periods through december 31, 2019. Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by cdc and recognize a tax liability if cdc has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by cdc, and has concluded that as of june 30, 2020 and 2019, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying consolidated financial statements. Cdc is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. These income tax returns are generally open to examination by the relevant taxing authorities for a period of three years from the later of the date the return was filed or its due date (including approved extensions).”

“Cost of goods sold 1,202. Rental expenses 13,384. Fundraising expenses 4,951.”

“Rental expenses 13,384. Cost of goods sold 1,202. Fundraising expenses 4,951.”