March 29, 2024

Business Active

business the management

Form 10-K/A Lotus Biotech Developmen For: Mar 31

34 min read

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.


 

UNITED
STATES

SECURITIES
AND EXCHANGE COMMISSION

Washington, D. C. 20549

 

FORM
10-K/A

 


ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934

 

For the fiscal year ended March 31, 2017

 


TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

 

For the transition period from                     
to                     

 

Commission File Number: 000-55281

 

LOTUS
BIO-TECHNOLOGY DEVELOPMENT CORP.

(Exact name of registrant as specified
in its charter)

 

Nevada

(State or other jurisdiction of incorporation
or organization)

 

#108
2559 Parkview lane Port Coquitlam BC Canada V3c6m1

(Address of principal executive offices,
including zip code.)

 

(778) 814-7729

(Registrant’s telephone number,
including area code)

 

Securities registered pursuant to Section 12(b) of the Act:   Securities registered pursuant to section 12(g) of the Act:
NONE   NONE

 

Indicate by check mark if the registrant
is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
YES ☐    NO ☒

 

Indicate by check mark if the registrant
is required to file reports pursuant to Section 13 or Section 15(d) of the Act:
YES ☒    NO ☐

 

Indicate
by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange
Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and
(2) has been subject to such filing requirements for the past 90 days. Yes ☐    No ☒

 

Indicate
by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submitted and posted
pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period
that the registrant was required to submit and post such files). Yes ☐    No ☒

 

Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth
company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting
company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer Accelerated filer
Non-accelerated filer Smaller reporting company
Emerging growth company

 

If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

Indicate by check mark whether the registrant
is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☒    No ☐

 

State the aggregate market value of the
voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last
sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently
completed second fiscal quarter: $9,832,500

 

As of January 21, 2021, 782,775,000 shares of the registrant’s
common stock were outstanding.

 

 

 

Explanatory Note:

 

The purpose of this Amendment No. 1 to Form 10-K/A for the year
ended March 31, 2017, is for the following purposes:

 

1) Remove assets that had been written off and/or consumed during the year;

 

2) Correct accounts payable;

 

3) Correct accounting for operating expenses and remove the expense for stock for services.

 

 

TABLE OF CONTENTS

 

 

 

PART I

 

ITEM 1. BUSINESS.

 

Forward-Looking Statements

 

Certain statements, other than purely historical
information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results,
and the assumptions upon which those statements are based, are “forward-looking statements.” These forward-looking
statements generally are identified by the words “believes,” “project,” “expects,” “anticipates,”
“estimates,” “intends,” “strategy,” “plan,” “may,” “will,”
“would,” “will be,” “will continue,” “will likely result,” and similar expressions.
Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which
may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual
effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations
and future prospects include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability
of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also
be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.

 

Company Overview

 

Lotus
Bio-Technology Development Corp. (formerly Starflick.Com) (“we”, “our”, the “Company”) was
formed on March 24, 2011. Lotus Bio-Technology Development Corp. is a company that is actively seeking out new opportunities in
the Organic and Bio-technology space. Our mandate is to search for companies that are synergistic in our belief that we are an
environmentally friendly corporation.

 

ITEM 1A. RISK FACTORS.

 

We are a smaller reporting company as defined
by Rule 12b-2 of the Exchange Act and are not required to provide the information under this item.

 

ITEM 1B. UNRESOLVED STAFF COMMENTS.

 

We are a smaller reporting company as defined by Rule 12b-2
of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

 

ITEM 2. PROPERTIES.

 

None.

 

ITEM 3. LEGAL PROCEEDINGS.

 

There are no claims, actions, suits, proceedings,
or investigations that are currently pending or, to the Company’s knowledge, threatened by or against the Company or respecting
its operations or assets, or by or against any of the Company’s officers, directors, or affiliates.

 

ITEM 4. MINE SAFETY DISCLOSURE.

 

Not applicable.

 

 

PART II

 

ITEM 5. MARKET FOR OUR COMMON EQUITY, RELATED STOCKHOLDER
MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.

 

Our common stock trades
on the over-the-counter Bulletin Board. It currently trades under the symbol “LBTD”.

 

Dividends

 

We have not declared any cash dividends,
nor do we intend to do so. We are not subject to any legal restrictions respecting the payment of dividends, except that they may
not be paid to render us insolvent. Dividend policy will be based on our cash resources and needs, and it is anticipated that all
available cash will be needed for our operations in the foreseeable future.

 

Section 15(g) of the Securities Exchange Act of 1934

 

Our shares are covered by section 15(g)
of the Securities Exchange Act of 1934, as amended that imposes additional sales practice requirements on broker/dealers who sell
such securities to persons other than established customers and accredited investors (generally institutions with assets in excess
of $5,000,000 or individuals with net worth in excess of $1,000,000 or annual income exceeding $200,000 or $300,000 jointly with
their spouses). For transactions covered by the Rule, the broker/dealer must make a special suitability determination for the purchase
and have received the purchaser’s written agreement to the transaction prior to the sale. Consequently, the Rule may affect
the ability of broker/dealers to sell our securities and also may affect your ability to sell your shares in the secondary market.

 

Section 15(g) also imposes additional sales
practice requirements on broker/dealers who sell penny securities. These rules require a one-page summary of certain essential
items. The items include the risk of investing in penny stocks in both public offerings and secondary marketing; terms important
to in understanding of the function of the penny stock market, such as ID and offer quotes, a dealers spread and broker/dealer
compensation; the broker/dealer compensation, the broker/dealers’ duties to its customers, including the disclosures required
by any other penny stock disclosure rules; the customers’ rights and remedies in cases of fraud in penny stock transactions;
and, FINRA’s toll free telephone number and the central number of the North American Administrators Association, for information
on the disciplinary history of broker/dealers and their associated persons.

 

Securities Authorized for Issuance Under Equity Compensation
Plans

 

We have no equity compensation plans and
accordingly we have no shares authorized for issuance under an equity compensation plan.

 

Recent Sales of Unregistered Securities

 

None

 

Issuer Purchase of Securities

 

The Company did not repurchase any of its
securities during the fiscal years ended March 31, 2017 and 2016.

 

ITEM 6. SELECTED FINANCIAL DATA.

 

We are a smaller reporting company as defined
by Rule 12b-2 of the Exchange Act and are not required to provide the information under this item.

 

 

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATION.

 

Plan of Operation

 

We are a start-up company, actively
seeking out new opportunities in the Organic and Bio-technology space. Our mandate is to search for companies that are synergistic
in our belief that we are an environmentally friendly corporation.

 

Results of Operations

 

Year Ended March 31, 2017 compared to the Year Ended March
31, 2016

 

We have not yet
recognized any revenue as of March 31, 2017.

 

For the year ended
March 31, 2017 our net loss was $19,550 compared to $781,105 for the year ended March 31, 2016. In the prior year we incurred $765,000
of stock-based compensation.

 

Liquidity and Capital Resources

 

As of March 31,
2017, we have no available cash, liabilities of $80,859 and an accumulated deficit of $948,949. During the year ended March 31,
2017 we used $17,755 of cash.

 

Our sole officer
and director is willing to advance funds to us on an as needed basis until such time as we can sustain our operations without his
assistance. At the present time, we have not made any arrangements to raise additional cash, other than through as described
herein. If we need additional cash and can’t raise it, or Mr. Nagy will not advance the same, we will either have to suspend
operations until we do raise the cash or cease operations entirely. Other than as described in this paragraph, we have no other
financing plans.

 

Liquidity and Capital Resources

 

We will be able to stay in business for
at least one year by drop shipping oil and gas equipment to our customers since the customer is responsible for payment in full
of all equipment prior to delivery of the same. To meet our need for cash for oil and gas exploration, we will attempt to
raise money from a private placement and our profits from the sale of oil and gas equipment.

 

Our sole officer and sole director is willing
to advance funds to us on an as needed basis until such time as we can sustain our operations without his assistance. At
the present time, we have not made any arrangements to raise additional cash, other than through as described herein. If we need
additional cash and can’t raise or Mr. Nagy will not advance the same, we will either have to suspend operations until we
do raise the cash or cease operations entirely. Other than as described in this paragraph, we have no other financing plans.

 

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK.

 

We are a smaller reporting company as defined by Rule 12b-2
of the Exchange Act and are not required to provide the information under this item.

 

 

ITEM
8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.

 

LOTUS
BIO-TECHNOLOGY DEVELOPMENT CORP.

 

TABLE
OF CONTENTS

 

 

 

MICHAEL
GILLESPIE & ASSOCIATES, PLLC

CERTIFIED
PUBLIC ACCOUNTANTS

10544
ALTON AVE NE

SEATTLE,
WA 98125

206.353.5736

 

REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

To
the Shareholders & Board of Directors

Lotus
Bio-Technology Development Corp.

 

Opinion
on the Financial Statements

We
have audited the accompanying restated balance sheets of Lotus Bio-Technology Development Corp. as of March 31, 2017 (restated)
and 2016 and the related statements of operations, changes in stockholders’ deficit, cash flows, and the related notes (collectively
referred to as “financial statements”) for the years then ended. In our opinion, the restated financial statements
present fairly, in all material respects, the financial position of the Company as of March 31, 2017 (restated) and 2016 and the
results of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted
in the United States of America.

 

Going
Concern

The
accompanying financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note
#3 to the financial statements, although the Company has limited operations it has yet to attain profitability. This raises substantial
doubt about its ability to continue as a going concern. Management’s plan in regard to these matters is also described in
Note #3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

 

Basis
for Opinion

These
financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on
the Company’s financial statements based on our audit. We are a public accounting firm registered with the Public Company
Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance
with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the
PCAOB.

 

We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error
or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial
reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting, but
not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting.
Accordingly, we express no such opinion.

 

Our
audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to
error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence
regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles
used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that our audit provides a reasonable basis for our opinion.

 

/S/
MICHAEL GILLESPIE & ASSOCIATES, PLLC

 

We
have served as the Company’s auditor since 2019.

 

Seattle,
Washington

December
31, 2020

 

 

LOTUS
BIO-TECHNOLOGY DEVELOPMENT CORP.

BALANCE SHEETS

 

    March 31,
2017
    March 31,
2016
 
  (Restated)        
ASSETS            
Current Assets:                
Cash   $ 1     $ 5  
Total current assets     1       5  
                 
Software, net           5,458  
Total Assets   $ 1     $ 5,463  
                 
LIABILITIES AND STOCKHOLDERS’ DEFICIT                
Current Liabilities:                
Accounts payable   $ 11,650     $ 15,313  
Loan payable     6,450        
Due to related party     62,759       51,458  
Total Current Liabilities     80,859       66,771  
Total Liabilities     80,859       66,771  
                 
Commitments and contingencies            
                 
Stockholders’ Deficit:                
Preferred Stock, par value $0.00001, 100,000,000 shares authorized; no shares issued and outstanding            
Common Stock, par value $0.00001, 300,000,000 shares authorized; 82,775,000 shares issued and outstanding     828       828  
Additional paid-in capital     867,263       867,263  
Accumulated deficit     (948,949 )     (929,399 )
Total Stockholders’ Deficit     (80,858 )     (61,308 )
Total Liabilities and Stockholders’ Deficit   $ 1     $ 5,463  

 

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

 

 

LOTUS
BIO-TECHNOLOGY DEVELOPMENT CORP.

STATEMENTS OF OPERATIONS

 

    For the Years Ended March 31,  
    2017     2016  
    (Restated)        
Operating Expenses:                
General and administrative   $ 19,550     $ 781,105  
Total operating expenses     19,550       781,105  
                 
Loss from operations   $ (19,550 )   $ (781,105 )
                 
Net loss before provision for income tax     (19,550 )     (781,105 )
Provision for income tax            
Net Loss   $ (19,550 )   $ (781,105 )
                 
Loss per share, basic and diluted   $ (0.00 )   $ (0.01 )
                 
Weighted average common shares outstanding, basic and diluted     82,775,000       82,775,000  

 

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

 

 

LOTUS
BIO-TECHNOLOGY DEVELOPMENT CORP.

STATEMENT OF STOCKHOLDERS’ DEFICIT

FOR THE YEARS ENDED MARCH 31, 2016 AND 2017

 

    Common
Stock
    Common Stock
Amount
    Additional
Paid-in
Capital
    Accumulated
Deficit
    Total  
Balance, March 31, 2015     181,275,000     $ 1,813     $ 101,278     $ (148,294 )   $ (45,203 )
                                         
Cancellation of common stock     (100,000,000 )     (1,000 )     1,000              
                                         
Common stock issued for services     1,500,000       15       764,985             765,000  
                                         
Net Loss                       (781,105 )     (781,105 )
                                         
Balance, March 31, 2016     82,775,000       828       867,263       (929,399 )     (61,308 )
                                         
Net Loss (restated)                       (19,550 )     (19,550 )
                                         
Balance, March 31, 2017 (restated)     82,775,000     $ 828     $ 867,263     $ (948,949 )   $ (80,858 )

 

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

 

 

LOTUS
BIO-TECHNOLOGY DEVELOPMENT CORP.

STATEMENTS
OF CASH FLOWS

 

    For
the Years Ended March 31,
 
    2017     2016  
    (Restated)        
Cash flows from operating
activities:
               
Net Loss   $ (19,550 )   $ (781,105 )
Adjustments to reconcile
net loss to net cash used in operating activities:
               
Common stock issued
for services
          765,000  
Loss on impairment
of asset
    5,458          
Amortization expense           1,092  
Changes in operating
assets and liabilities:
               
Accounts
payable
    (3,663 )     6,575  
Net
cash used in operating activities
    (17,755 )     (8,438 )
                 
Cash flows from investing
activities:
               
Purchase of software           (6,550 )
Net
cash used by investing activities
          (6,550 )
                 
Cash flows from financing
activities:
               
Cash advances from
a related party
    11,301       17,025  
Loan payable     6,450        
Repayment
of related party advances
          (3,537 )
Net
cash provided by financing activities
    17,751       13,488  
                 
Net decrease in cash     (4 )     (1,500 )
Cash,
beginning of year
    5       1,505  
Cash,
end of year
  $ 1     $ 5  
                 
Supplemental disclosure
of cash flow information:
               
Cash
paid for taxes
  $     $  
Cash
paid for interest
  $     $  
                 
Non-cash financing
activity:
               
Purchase
of software by related party on behalf of the Company
  $     $ 6,550  
Expense
paid by related party on behalf of the Company
  $     $ 8,438  
Cancellation
of common stock
  $     $ 1,000  

 

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

 

 

LOTUS
BIO-TECHNOLOGY DEVELOPMENT CORP.

NOTES
TO RESTATED FINANCIAL STATEMENTS

MARCH
31, 2017

 

NOTE
1 – ORGANIZATION AND DESCRIPTION OF BUSINESS

 

Lotus
Bio-Technology Development Corp. (formerly Starflick.Com) (“we”, “our”, the “Company”) was
formed on March 24, 2011. The company is actively seeking out new opportunities in the Organic and Bio-technology space.

 

NOTE
2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis
of presentation

The
accompanying restated financial statements have been prepared in accordance with accounting principles generally accepted in the
United States of America (“U.S. GAAP”).

 

Use
of estimates

The
preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities
at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant
estimates include the estimated useful lives of property and equipment. Actual results could differ from those estimates.

 

Property
and equipment

Property
and equipment are stated at cost less accumulated depreciation and amortization. When property and equipment is retired or otherwise
disposed of, the net carrying amount is eliminated with any gain or loss on disposition recognized in earnings at that time. Maintenance
and repairs are expensed as incurred. Depreciation is calculated using the straight-line method over the estimated useful lives
of the assets. As of March 31, 2017, the Company deemed its software that had been previously capitalized was fully impaired and
recognized a $5,458 loss on impairment. Depreciation expense for the years ended March 31, 2017 and 2016, was $0 and $1,092, respectively.

 

Fair
value of financial instruments

The
Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial
instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to
measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in
accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value
measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37
establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three
(3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for
identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined
by Paragraph 820-10-35-37 are described below:

 

Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.

 

Level 2: Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

 

Level 3: Pricing inputs that are generally unobservable inputs and not corroborated by market data.

 

The
carrying amount of the Company’s financial assets and liabilities, such as cash, prepaid expenses and accrued expenses approximate
their fair value because of the short maturity of those instruments. The Company’s notes payable approximates the
fair value of such instruments based upon management’s best estimate of interest rates that would be available to the Company
for similar financial arrangements at March 31, 2017 and 2016.

 

 

Income
taxes

The
Company follows Section 740-10-30 of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets
and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax
returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and
tax bases of assets and liabilities using enacted tax rates in effect for the fiscal year in which the differences are expected
to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than
not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to
apply to taxable income in the fiscal years in which those temporary differences are expected to be recovered or settled. The
effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Income in the period
that includes the enactment date.

 

The
Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”) with regards
to uncertainty income taxes. Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to
be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize
the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination
by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements
from such a position should be measured based on the largest benefit that has a greater than fifty percent (50{14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3}) likelihood of
being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest
and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no material
adjustments to its liabilities for unrecognized income tax benefits according to the provisions of Section 740-10-25.

 

Stock-based
Compensation

We
account for equity-based transactions with nonemployees under the provisions of ASC Topic No. 505-50, Equity-Based Payments
to Non-Employees
(“ASC 505-50”). ASC 505-50 establishes that equity-based payment transactions with nonemployees
shall be measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever
is more reliably measurable. The fair value of common stock issued for payments to nonemployees is measured at the market price
on the date of grant. The fair value of equity instruments, other than common stock, is estimated using the Black-Scholes option
valuation model. In general, we recognize the fair value of the equity instruments issued as deferred stock compensation and amortize
the cost over the term of the contract.

 

We
account for employee stock-based compensation in accordance with the guidance of FASB ASC Topic 718, Compensation—Stock
Compensation,
which requires all share-based payments to employees, including grants of employee stock options, to be recognized
in the financial statements based on their fair values. The fair value of the equity instrument is charged directly to compensation
expense and credited to additional paid-in capital over the period during which services are rendered.

 

Net
loss per common share

Net
income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic
net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common
stock outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss)
by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period.
The weighted average number of common shares outstanding and potentially outstanding common shares assumes that the Company
incorporated as of the beginning of the first period presented.

 

The
Company’s diluted loss per share is the same as the basic loss per share for the years ended March 31, 2017 and 2016, as
the inclusion of any potential shares would have had an anti-dilutive effect due to the Company generating a loss.

 

Recently
issued accounting pronouncements

In
February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 requires lessees to recognize lease assets
and lease liabilities on the balance sheet and requires expanded disclosures about leasing arrangements. ASU 2016-02 is effective
for fiscal years beginning after December 15, 2018 and interim periods in fiscal years beginning after December 15, 2018,
with early adoption permitted. The Company has adopted this accounting standard update.

 

On
June 20, 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-07, Compensation—Stock
Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting
. ASU 2018-07 is intended to reduce cost
and complexity and to improve financial reporting for share-based payments to nonemployees (for example, service providers, external
legal counsel, suppliers, etc.). Under the new standard, companies will no longer be required to value non-employee awards differently
from employee awards. Meaning that companies will value all equity classified awards at their grant-date under ASC718 and forgo
revaluing the award after this date. The guidance is effective for interim and annual periods beginning after December 15,
2018.

 

 

In
November 2019, the FASB issued ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivative and Hedging (Topic
815, and Leases (Topic 841). This new guidance will be effective for annual reporting periods beginning after December 15, 2019,
including interim periods within those annual reporting periods. While the Company is continuing to assess the potential impacts
of ASU 2019-10, it does not expect ASU 2019-10 to have a material effect on its financial statements.

 

The
Company has implemented all new accounting pronouncements that are in effect and applicable. These pronouncements did not have
any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any
other new accounting pronouncements that have been issued that might have a material impact on its financial position or results
of operations.

 

NOTE
3 – GOING CONCERN

 

The
Company’s financial statements are prepared using accounting principles generally accepted in the United States of America
applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course
of business. The Company has not established any source of revenue to cover its operating costs and has an accumulated deficit
of $948,949, ($765,00 of which is from non-cash stock compensation expense). The Company’s existence is dependent upon management’s
ability to develop profitable operations. These conditions raise substantial doubt that the Company will be able to continue as
a going concern. These restated financial statements do not include any adjustments that might result from this uncertainty. Activities
to date have been supported by equity financing and demand loans from the Company’s major shareholder. Management continues
to seek funding from its shareholders and other qualified investors to pursue its business plan and new course of action.

 

NOTE
4 – LOAN PAYABLE

 

As
of March 31, 2017, the Company owed the former CEO $6,450 for cash advances used to pay certain administrative expenses. The advance
is unsecured, non-interest bearing and due on demand.

 

NOTE
5 – RELATED PARTY TRANSACTIONS

 

During
the year ended March 31, 2016, the majority shareholder, on behalf of the Company, purchased $6,550 of software from a third party.
Further, the Company borrowed $17,025 from the majority shareholder and repaid $3,537.

 

During
the years ended March 31, 2017 and 2016, the majority shareholder of the Company paid $11,301 and $8,438 of its operating expenses,
respectively.

 

As
of March 31, 2017 and 2016, the balance due to the former CEO was $6,450 and $0, respectively. The balance due is unsecured, non-interest
bearing and due on demand.

 

As
of March 31, 2017 and 2016, the balance due to the CEO is $62,759 and $51,458, respectively. The balance due is unsecured, non-interest
bearing and due on demand.

 

NOTE
6 – COMMON STOCK TRANSACTIONS

 

On
March 30, 2016, the board of directors of the Company, agreed to cancel 100,000,000 of Mr. Nagy’s, the former officer of
the Company, previously issued shares for no consideration.

 

On
November 24, 2015, the Company issued to a third-party consultant 1,500,000 common shares for services rendered. The fair value
of the common shares issued was $765,000 and was recorded by the Company as stock-based compensation.

 

 

NOTE
7 – PREFERRED STOCK

 

The
Company has 100,000,000 shares of preferred stock authorized. The preferred stock may be divided into and issued in series and
designated at the authorization of the Board when deemed necessary.

 

NOTE
8 – INCOME TAXES

 

At
March 31, 2017, the Company had net operating loss carry forwards of approximately $64,383 that may be offset against future taxable
income. No tax benefit has been reported in the March 31, 2017 or 2016 financial statements since the potential tax
benefit is offset by a valuation allowance of the same amount.

 

The
provision for Federal income tax consists of the following for the years ended March 31, 2017 and 2016:

 

    2017     2016  
Federal income tax benefit attributable to:                
Current operations   $ (6,843 )   $ (5,637 )
Less: valuation allowance     6,843       5,637  
Net provision for Federal income taxes   $     $  

 

The
cumulative tax effect at the expected rate of 35{14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3} for the years ended March 31, 2017 and 2016, of significant items comprising
our net deferred tax amount is as follows as of March 31, 2017 and 2016:

 

    2017     2016  
Deferred Tax Assets:                
NOL Carryover   $ 64,383     $ 57,540  
Less valuation allowance     (64,383 )     (57,540 )
Net deferred tax assets   $     $  

 

Due
to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for Federal income tax
reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carry forwards
may be limited as to use in future years.

 

ASC
Topic 740 provides guidance on the accounting for uncertainty in income taxes recognized in a company’s financial statements.
Topic 740 requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination
based upon the technical merits of the position. If the more-likely-than-not threshold is met, a company must measure the tax
position to determine the amount to recognize in the financial statements.

 

The
Company includes interest and penalties arising from the underpayment of income taxes in the statements of operations in the provision
for income taxes. As of March 31, 2017, the Company had no accrued interest or penalties related to uncertain tax positions.

 

NOTE
9 – RESTATEMENT

 

The
March 31, 2017 financial statements are being restated to correct errors in accounting for assets, accounts payable, operating
expenses and removing the accounting for stock for services.

 

 

The
following table summarizes changes made to the March 31, 2017 balance sheet.

 

    March 31, 2017  
  As Reported     Adjustment     As Restated  
Balance Sheet:                  
Cash   $ 5     $ (4 )   $ 1  
Property & equipment     5,458       (5,458 )      
Total assets   $ 5,463       (5,462 )   $ 1  
                         
Accounts payable   $ 15,313     $ (3,663 )   $ 11,650  
Loan payable           6,450       6,450  
Due to related party     51,458       11,301       62,759  
Total liabilities     66,771       14,088       80,859  
                         
Common stock     828             828  
Additional paid-in capital     867,263             867,263  
Accumulated deficit     (929,399 )     (19,550 )     (948,949 )
Total Stockholders’ Deficit     (61,308 )     (19,550 )     (80,858 )
Total liabilities and stockholders’ deficit   $ 5,463     $ (5,462 )   $ 1  

 

The
following table summarizes changes made to the year ended March 31, 2017 Statement of Operations.

 

    For the year ended March 31, 2017  
    As Reported     Adjustment     As Restated  
Accounting and legal   $ 11,519     $ (11,519 )   $  
General and administrative     765,000       (745,450 )     19,550  
Stock transfer management     3,494       (3,494 )      
Amortization expense     1,092       (1,092 )      
Net Loss   $ (781,105 )   $ 761,555     $ (19,550 )

 

NOTE
10 – SUBSEQUENT EVENTS

 

In
accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial
statements were available to be issued and has determined that it does not have any material subsequent events to disclose in
these financial statements other than the following.

 

The
Company accepted the resignation of Zoltan Nagy on June 19, 2017, resigning his position on the Board of Directors, as well as
his positions as the sole officer, including principal executive officer and principal financial officer.

 

Effective
June 19, 2017 the Board of Directors appointed William Ko to the Board of Directors and as sole officer, including principal executive
officer and principal financial officer.

 

On
August 30, 2017, the Company issued 150,000,000 shares of common stock to Mr. Nagy for services rendered.

 

Effective November 21, 2017, the Company increased
its authorized common stock to 800,000,000 shares, par value $0.001, and decreased its preferred stock to 50,000,000 shares, par
value $0.001.

 

On December 1, 2017, the company issued 550,000,000
shares of common stock to friends and family for total cash proceeds of $55,000. The proceeds were used to make payments on the
related part debt of $50,000 and $5,000 on November 16, 2017 and November 24, 2017, respectively.

 

The
Company accepted the resignation of William Ko on December 18, 2018, resigning his position on the Board of Directors and his
positions as the sole officer, including principal executive officer and principal financial officer.

 

Effective
April 10, 2019, the Board of Directors appointed Zoltan Nagy to the Board of Directors and as sole officer, including principal
executive officer and principal financial officer. Mr. Nagy will serve on the board until the next annual shareholders meeting.

 

 

ITEM
9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

 

There
have been no disagreements on accounting and financial disclosures from the inception of our company through the date of this
Form 10-K/A.

 

ITEM
9A. CONTROLS AND PROCEDURES

 

Evaluation
of Disclosure Controls and Procedures

 

Under
the supervision and with the participation of our management, including the Chief Executive Officer and Chief Financial Officer,
we have evaluated the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) and Rule 15d-15(e)
of the Exchange Act) as of the end of the period covered by this report. The disclosure controls and procedures ensure that
all information required to be disclosed by us in the reports that we file or submit under the Exchange Act is: (i) recorded,
processed, summarized and reported, within the time periods specified in the SEC’s rule and forms; and (ii) accumulated
and communicated to our management, including our Chief Executive Officer and Chief Financial Officer as appropriate to allow
timely decisions regarding required disclosure. Based on that evaluation, the Chief Executive Officer and Chief Financial
Officer concluded that, as of March 31, 2017, these disclosure controls and procedures were not effective.

 

Management’s
Annual Report on Internal Control over Financial Reporting

 

Our
management is responsible to establish and maintain adequate internal control over financial reporting. Our Chief Executive Officer
and Chief Financial Officer are responsible to design or supervise a process that provides reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles. The policies and procedures include:

 

maintenance
of records in reasonable detail to accurately and fairly reflect the transactions and
dispositions of assets,

 

reasonable
assurance that transactions are recorded as necessary to permit preparation of financial
statements in accordance with generally accepted accounting principles, and that receipts
and expenditures are being made only in accordance with authorizations of management
and directors, and

 

reasonable
assurance regarding prevention or timely detection of unauthorized acquisition, use or
disposition of assets that could have a material effect on our financial statements.

 

Because
of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Therefore,
even those systems determined to be effective can provide only reasonable assurance of achieving their control objectives.

 

Our
management, with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of
our internal control over financial reporting as of the end of the period March 31, 2017. In making this assessment, our management
used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in Internal
Control – Integrated Framework. Based on this evaluation, our Chief Executive Officer and Chief Financial Officer
concluded that, as of the end of the fiscal year March 31, 2017, our internal control over financial reporting were not effective
at that reasonable assurance level. The following aspects of the Company were noted as potential material weaknesses:

 

lack
of an audit committee

 

lack
of timely filing of our SEC documents

 

Changes
in Internal Controls

 

There
were no changes in our internal control over financial reporting during the year ended March 31, 2017 that have affected, or are
reasonably likely to affect, our internal control over financial reporting.

 

ITEM
9B. OTHER INFORMATION

 

None.

 

 

PART
III

 

ITEM
10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

 

Our
sole director will serve until his successor is elected and qualified. Our sole officer is elected by the board of directors to
a term of one (1) year and serves until his or his successor is duly elected and qualified, or until he or she is removed from
office. The board of directors has no nominating, auditing or compensation committees.

 

The
name, address, age and position of our present sole officer and director is set forth below:

 

Name and Address   Age   Position(s)
Zoltan Nagy
1361 Peltier Drive
Point Roberts, Washington 98281
  54   president, principal executive officer, principal financial officer, principal accounting officer, secretary, treasurer and sole member of the board of directors

 

The
person named above has held his offices/positions since inception of our company and is expected to hold his offices/positions
until the next annual meeting of our stockholders.

 

Background
of Our Sole Officer and Director

 

Since
our inception, Zoltan Nagy has been our president, secretary, treasurer, principal financial officer, principal accounting officer
and sole member of our board of directors. Since March 24, 2011, Mr. Nagy has been president, secretary, treasurer, principal
financial officer, principal accounting officer and sole member of our board of directors of Starflick.com our parent corporation.
From August 30, 2007 to April 27, 2011, Mr. Nagy was president, chief executive officer, treasurer, secretary and a director
of Raptor Technology Group, Inc., a Nevada corporation whose common stock is traded on the Bulletin Board under the symbol RAPT.
Raptor Technology Group, Inc. is engaged in the business of fabrication of equipment. On October 10, 2014, Raptor’s
Exchange Act registration was revoked by the SEC. The foregoing positions constituted Mr. Nagy’s principal occupations and
employment during the past five years.

 

None
of our officer nor directors, promoters or control persons have been involved in the past ten years in any of the following:

 

  (1) Any bankruptcy petition filed by or against
any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within
two years prior to that time;
     
  (2) Any conviction in a criminal proceeding or being
subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);
     
  (3) Being subject to any order, judgment or decree,
not subsequently reversed, suspended or vacated, or any court of competent jurisdiction, permanently or temporarily enjoining,
barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities; or
     
  (4) Being found by a court of competent jurisdiction
(in a civil action), the Commission or the Commodity Futures Trading Commission to have violated a federal or state securities
or commodities law, and the judgment has not been reversed, suspended, or vacated.

 

Compliance
with Section 16(a) of the Exchange Act

 

Section
16(a) of the Securities Exchange Act of 1934 requires our directors, executive officers and persons who own more than ten percent
of our common stock, to file with the SEC initial reports of ownership and reports of changes in ownership of common stock. Officers,
directors and ten-percent or greater beneficial owners are required by SEC regulations to furnish us with copies of all Section
16(a) reports they file. Based upon a review of those forms and representations regarding the need for filing for the year
ended March 31, 2017, we believe all necessary forms have been filed.

 

Audit
Committee Financial Expert

 

We
do not have an audit committee financial expert. We do not have an audit committee financial expert because we believe the
cost related to retaining a financial expert at this time is prohibitive. Further, because we have no operations, at the
present time, we believe the services of a financial expert are not warranted.

 

 

Code
of Ethics

 

We
have adopted a corporate code of ethics. We believe our code of ethics is reasonably designed to deter wrongdoing and promote
honest and ethical conduct; provide full, fair, accurate, timely and understandable disclosure in public reports; comply with
applicable laws; ensure prompt internal reporting of code violations; and provide accountability for adherence to the code.

 

ITEM
11. EXECUTIVE COMPENSATION

 

The
following table sets forth the compensation paid by us for the last two fiscal years ending March 31 for our sole officer. This
information includes the dollar value of base salaries, bonus awards and number of stock options granted, and certain other compensation,
if any. The compensation discussed addresses all compensation awarded to, earned by, or paid or named executive officers.

 

Summary
Compensation Table

 

(a)   (b)     (c)     (d)     (e)     (f)     (g)     (h)     (j)  

Name and Principal

      Salary     Bonus    

Stock

Awards

   

Option

Awards

   

Non-Equity

Incentive Plan

Compensation

   

Change in

Pension Value &

Nonqualified
Deferred

Compensation

Earnings

    Total  
Position   Year     ($)     ($)     ($)     (S)     ($)     ($)     ($)  
Zoltan Nagy   2017       0       0       0       0       0       0       0  
President   2016       0       0       0       0       0       0       0  

 

We
have no employment agreements with our sole officer. We do not contemplate entering into any employment agreements until such
time as we begin profitable operations.

 

The
compensation discussed herein addresses all compensation awarded to, earned by, or paid to our named executive officer. Further,
no compensation has been paid subsequent to March 31, 2017.

 

There
are no other stock option plans, retirement, pension, or profit sharing plans for the benefit of our sole officer and director
other than as described herein.

 

Compensation
of Directors

 

The
sole member of our board of directors is not compensated for his services as a director. The board has not implemented a plan
to award options to our directors. There are no contractual arrangements with our sole director. We have no director’s service
contracts. The following table sets forth compensation paid to our sole director for the years ended March 31, 2016 and
2017. Since that time we have not paid any compensation to Mr. Nagy either as an executive officer or as a director.

 

Director
Compensation Table

 

(a)   (b)     (c)     (d)     (e)     (f)     (g)     (h)  
   

Fees
Earned

or
Paid in

Cash

   

Stock

Awards

   

Option

Awards

   

Non-Equity

Incentive
Plan

Compensation

   

Change
in Pension

Value
&

Nonqualified

Deferred

Compensation

Earnings

   

All
Other

Compensation

   

Total

 
Name   ($)     ($)     ($)     ($)     ($)     ($)     ($)  
Zoltan Nagy     0       0       0       0       0       0       0  

 

 

Long-Term
Incentive Plan Awards

 

We
do not have any long-term incentive plans that provide compensation intended to serve as incentive for performance.

 

Indemnification

 

Under
our Articles of Incorporation and Bylaws of the corporation, we may indemnify an officer or director who is made a party to any
proceeding, including a lawsuit, because of his position, if he acted in good faith and in a manner he reasonably believed to
be in our best interest. We may advance expenses incurred in defending a proceeding. To the extent that the officer or director
is successful on the merits in a proceeding as to which he is to be indemnified, we must indemnify him against all expenses incurred,
including attorney’s fees. With respect to a derivative action, indemnity may be made only for expenses actually and reasonably
incurred in defending the proceeding, and if the officer or director is judged liable, only by a court order. The indemnification
is intended to be to the fullest extent permitted by the laws of the State of Nevada.

 

Regarding
indemnification for liabilities arising under the Securities Act of 1933, as amended, which may be permitted to directors or officers
under Nevada law, we are informed that, in the opinion of the Securities and Exchange Commission, indemnification is against public
policy, as expressed in the Act and is, therefore, unenforceable.

 

ITEM
12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

 

The
following table sets forth the total number of shares owned beneficially by our directors, officers and key employees, individually
and as a group, and present owners of 5{14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3} or more of our total outstanding shares of 782,274,000. The table also reflects what
their ownership will be assuming completion of the sale of all shares in our public offering. The stockholders listed below have
direct ownership of their shares and possesses sole voting and dispositive power with respect to the shares.

 

Name and Address   Number of Shares     Percentage of Ownership  
Beneficial Ownership            
Zoltan Nagy
1361 Peltier Drive
Point Roberts, WA 98281
    150,000,000       19.1 {14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3}
All Officers and Directors as a Group (1 person)     150,000,000       19.1 {14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3}
                 
Dominic Baker     50,000,000       6.4 {14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3}
Margaret Kuhn     50,000,000       6.4 {14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3}
Margit Pap     50,000,000       6.4 {14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3}
Iren Szabo     50,300,000       6.4 {14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3}
Noriko Tasaka     50,000,000       6.4 {14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3}
Yoko Tasaka     50,000,000       6.4 {14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3}
Kyoko Uchiyama     50,450,000       6.4 {14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3}
Motofumi Uchiyama     50,000,000       6.4 {14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3}
Other 5{14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3} shareholder as a Group (8 persons)     400,750,000       51.2 {14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3}

 

ITEM
13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.

 

Since
the fiscal year ended March 31, 2017, Zoltan Nagy, CEO and Director, has advanced the Company funds to pay for general operating
expenses. As of March 31, 2017 and 2016, $62,759 and $51,458, respectively, is due to Mr. Nagy. The amount due is unsecured, non-interest
bearing and due on demand.

 

 

ITEM
14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

 

    2017     2016  
Audit Fees   $ 0     $ 0  
Audit-Related Fees     0       0  
Tax Fees     0       0  
All Other Fees   $ 0     $ 0  

 

Audit
fees represent fees for professional services rendered by our principal accountants for the audit of our annual financial statements
and review of the financial statements included in our Forms 10-Q or services that are normally provided by our principal accountants
in connection with statutory and regulatory filings or engagements.

 

Audit-related
fees represent professional services rendered for assurance and related services by the accounting firm that are reasonably related
to the performance of the audit or review of our financial statements that are not reported under audit fees.

 

Tax
fees represent professional services rendered by the accounting firm for tax compliance, tax advice, and tax planning.

 

All
other fees represent fees billed for products and services provided by the accounting firm, other than the services reported for
the other three categories.

 

 

PART
IV

 

ITEM
15. EXHIBITS

 

 

 

SIGNATURES

 

Pursuant to the requirements of Section 13
or 15(d) the Securities Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized on this January 21, 2021,

 

  LOTUS
BIO-TECHNOLOGY DEVELOPMENT CORP.
     
  BY: /s/ Zoltan
Nagy
    Zoltan Nagy
    President, Chief Executive Officer, Principal
Financial Officer, Principal Accounting Officer, Secretary/Treasurer and sole member of the Board of Directors

 

Pursuant
to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf
of the registrant and in the capacities and on the date indicated.

 

Signature   Title   Date
         
/s/
Zoltan Nagy
  President,
Chief Executive Officer,
Principal Financial Officer,
  January 21, 2021
Zoltan Nagy   Principal Accounting Officer, Secretary/Treasurer and sole member of the
Board of Directors
   

 

 

10

 

Exhibit
31.1

 

CERTIFICATION
OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER
PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

 

I,
Zoltan Nagy, certify that:

 

1. I have reviewed this Form 10K for
the year ended March 31, 2017 of Lotus Bio-Technology Development Corp;
   
2. Based on my knowledge, this report
does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered
by this report;
   
3. Based on my knowledge, the restated
financial statements, and other financial information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this
report;
   
4. I am responsible for establishing
and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal
control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
   
  a. Designed such disclosure controls and procedures,
or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information
relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities,
particularly during the period in which this report is being prepared;
     
  b. Designed such internal control over financial
reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes
in accordance with generally accepted accounting principles;
     
  c. Evaluated the effectiveness of the registrant’s
disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure
controls and procedures, as of the end of the period covered by this report based on such evaluation; and,
     
  d. Disclosed in this report any change in the registrant’s
internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s
fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially
affect, the registrant’s internal control over financial reporting; and
     
5. I have disclosed, based on my most
recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee
of the registrant’s board of directors (or persons performing the equivalent functions):
   
  a. All significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the
registrant’s ability to record, process, summarize and report financial information; and
     
  b. Any fraud, whether or not material, that involves
management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: January
21, 2021
/s/
Zoltan Nagy
  Zoltan
Nagy
  Chief Executive
Officer and Chief Financial Officer

Exhibit
32.1

 

CERTIFICATION
PURSUANT TO

18
U.S.C. SECTION 1350,

AS
ADOPTED PURSUANT TO

SECTION
906 OF THE SARBANES-OXLEY ACT OF 2002

 

The
undersigned executive officer of Lotus Bio-Technology Development Corp certifies pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002 that: January xx, 2021

 

the
annual report on Form 10-K/A of the Company for the year ended March 31, 2017, fully
complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act
of 1934; and

 

the
information contained in the Form 10-K/A fairly presents, in all material respects, the
financial condition and results of operations of the Company.

 

Date:
January 21, 2021
/s/
Zoltan Nagy
  Zoltan
Nagy
  Chief
Executive Officer, Chief Financial Officer, Director

You may have missed