Translation The Company
is located and operating outside of the United States of America. It maintains its accounting records in U.S. Dollars, as follows:
At the transaction
date, each asset, liability, revenue, and expense is translated into U.S. dollars by the use of exchange rates in effect at that
date. At the period end, monetary assets and liabilities are remeasured by using the exchange rate in effect at that date. The
resulting foreign exchange gains and losses are included in operations.
The Company's currency
exposure is insignificant and immaterial and we do not use derivative instruments to reduce its potential exposure to foreign currency