Jetblack Corp. (the Company") was
incorporated under the name Tortuga Mexican Imports in Nevada on April 17, 2002, to sell jewelry, furniture and other Mexican handcrafted
products. On June 1, 2006 the Company acquired Tortuga Mexican Imports Canada Inc. ("Tortuga Canada"), a Canadian private
company incorporated under the federal laws of Canada. Effective March 15, 2010, the Company changed its name from Tortuga Mexican
Imports Inc. to Jetblack Corp., by way of a merger with the Companys wholly owned subsidiary Jetblack Corp., which was formed
solely for the change of name.
These financial statements have been prepared
in accordance with United States generally accepted accounting principles, on a going concern basis, which contemplates the realization
of assets and the satisfaction of liabilities and commitments in the normal course of business. As at August 31, 2012, the Company
had working capital of $13,024 and had incurred losses since inception of $182,823. Further losses are anticipated in the development
of its business and there can be no assurance that the Company will be able to achieve or maintain profitability, raising substantial
doubt about the Companys ability to continue as a going concern.
The continuing operations of the Company and
the recoverability of the carrying value of assets is dependent upon the ability of the Company to obtain necessary financing to
fund its working capital requirements, and upon future profitable operations. The accompanying financial statements do not include
any adjustments relative to the recoverability and classification of asset carrying amounts or the amount and classification of
liabilities that might result from the outcome of this uncertainty.
There can be no assurance that capital will
be available as necessary to meet the Company's working capital requirements or, if the capital is available, that it will be on
terms acceptable to the Company. The issuances of additional equity securities by the Company may result in dilution in the equity
interests of its current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase the Company's
liabilities and future cash commitments. If the Company is unable to obtain financing in the amounts and on terms deemed acceptable,
the business and future success may be adversely affected.